Victoria’s Secret signs Meadowhall deal

THE MEADOWHALL shopping centre is attracting new retailers, according to a trading statement from British Land.

In an interim management statement for the quarter to December 31 2012, British Land revealed that its UK occupancy rate was unchanged at 97.7 per cent, including recently completed developments.

Chris Grigg, the company’s chief executive, said: “The business continues to perform well in markets which remain tough overall. We’ve continued to see good demand for our properties, which means our occupancy remains high and our developments are now significantly pre-let well ahead of completion. While we remain cautious about the near-term environment, we are confident that British Land is not only defensive in today’s challenging markets but also well positioned to deliver future growth from existing and new investments.”

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In a statement, the company said: “We are also attracting new retailers, notably at our major shopping centres Meadowhall and Drake Circus, where we continue to expand the premium retail offer. The most notable deal in the quarter was with Victoria’s Secret at Meadowhall for a 13,000 sq ft store which will open in the autumn.”

British Land is one of Europe’s largest Real Estate Investment Trusts (REITs). The 50 per cent owner of Meadowhall recently signed a joint venture with Norges Bank Investment Management, which bought out London & Stamford Property’s stake in the centre.