High-profile retailers to make debut in city at Trinity scheme

THE landmark £350m Trinity Leeds retail scheme has signed up three new high profile retailers/restaurants that will make their debut in Leeds when the centre opens in 2013.

High fashion Spanish retailer Mango is taking a 2,500 sq ft store, family restaurant Giraffe is taking a 3,000 sq ft site and upmarket jeweller Fraser Hart has signed up for a 1,700 sq ft store.

Land Securities’ portfolio director Gerald Jennings said: “None of these three have existing stores in Leeds, they are new to the city. Mango has a small concern in House of Fraser, but this will be its first standalone store in the city.”

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Mango, which is the best known of the three, is an international fashion label aimed at women aged between 18 and 40.

It has more than 1,700 stores in over 100 countries around the world and its goal is to have a presence in every significant city in the world.

Giraffe Restaurants is a UK-based restaurant chain, which has 40 sites nationwide including 15 in London, and Fraser Hart is the UK’s leading independent jewellery retailer with a network of 35 shops across the UK.

Trinity Leeds is the largest retail development outside the capital to get the go ahead since the credit crunch.

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The one million square foot scheme is 58 per cent let with tenants including Marks & Spencer, Primark and Top Shop.

It will also feature an Everyman Cinema and two Conran restaurants.

The scheme’s parent Land Securities, the UK’s biggest property company, said it is making “excellent progress” with the development, while also investing in its northern flagship, the White Rose shopping centre in South Leeds.

Mr Jennings said that White Rose has just signed a new deal with fashion chain New Look, which will see the retailer quadruple in size.

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“New Look is moving from its 4,000 sq ft store to a new 16,500 sq ft site, so it will more than quadruple. It’s a big chunk of space, particularly in the current climate,” he said.

“Good retailers are still trading well and want more space. New Look is trading very well at White Rose and the new store should be trading by Easter next year.”

Mr Jennings said that since White Rose opened in 1997, it has outperformed rivals over the 14 years.

The total return at White Rose has been 11.3 per cent on an average basis. That is some four per cent better than the industry benchmark of 7.3 per cent over the 14-year period.

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Land Securities is stepping up its activity in retail development in a bid to capture growing demand for floor space from food and fashion retailers.

In its first-quarter statement yesterday, Land Securities said it had continued to make sound progress on its development projects and investment portfolio.

Highlights over the first quarter include achieving planning permission for the 90,000 sq ft letting to Primark at Trinity Leeds.

Land Securities’ chief executive Francis Salway said: “Despite the mixed messages in the retail sector, our leasing activity demonstrates that the stronger retailers are looking to take new space.”

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Trinity Leeds is cashing in on the fact that it will be the only UK scheme to open in 2013, with none opening in 2012.

“This puts us in a very advantageous position,” said Mr Jennings. “Whatever happens with the economy, retailers will still need to open new stores. Trinity Leeds is the only opportunity in the timeframe.”

Once the scheme opens it will propel Leeds into the top three retail destinations in England, behind London and Birmingham.