Southside Shopping Centre welcomes six new brands
Metro Shopping Fund, the retail joint venture between Land Securities and clients advised by Delancey, has secured Pret a Manger and Byron as the South West London centre gains even greater prominence as an all-day retail and dining hotspot.
Pret a Manger has secured a 15 year lease for a 2,228 sq ft space on the corner of Garratt Lane and Wandsworth High Street. Byron has taken a 2,307 space on a 25 year lease, also on Garratt Lane, and will sit alongside the recently-opened Debenhams.
The news follows the recent opening of four other leading high street brands including Frankie & Bennys, RUSH HAIR, Timpson and Eurochange as Southside comes to the end of a phased redevelopment programme that culminated in the opening of a 82,000 sq ft Debenhams last year.
In Southside’s North Mall, hairdressing brand RUSH HAIR has taken 730 sq ft for a new salon that will complement Southside’s wider health and beauty offer. Timpson and Eurochange have taken space in a split unit in the centre’s Central Mall, across 505 sq ft on a 10 year lease. Frankie & Bennys has signed a 25 year lease to take a 3,714 sq ft unit on the upper concourse of the centre, alongside Wandsworth’s 14-screen Cineworld cinema, and restaurants such as Ed’s Easy Diner and Prezzo.
Southside is a prime example of the continued growth of dining as part of a modern shopping centre experience, having increased its weighting of dining tenants from 15.5 per cent to 20 per cent over the last decade.
The centre is now nearly 100% let, and follows the launch of an 82,000 sq ft Debenhams in October. The new department store serves as a central element of the £40 million programme of works to improve the external Garrett Lane stretch of the scheme which is now complete.
Commenting on behalf of Metro Shopping Fund, Helen McVie, Retail Asset Manager at Delancey said: “In the last five years alone, over 32 new retail, leisure and dining brands have joined Southside as we have worked to create an all-day community retail offer that appeals to Wandsworth’s thriving ABC1 catchment. Going forward and with the opening of Debenhams, this will only continue, as we work to attract other exciting brands to the new street facing retail frontage and enliven the public realm and town centre of Wandsworth.”
Lunson Mitchenall and CWM are the joint agents for Southside Shopping Centre. Pret and Timpson represented themselves, Wareing & Partners acted for Frankie & Benny’s and Byron was represented by RSA. JP Retail represented RUSH HAIR, Brasier Freeth represented Eurochange.
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About Metro Shopping Fund
Metro Shopping Fund is a 50/50 London retail joint venture partnership between Land Securities Group Plc and clients advised by Delancey that was set up in 2004.
The 630,000 sq ft Southside Shopping Centre is anchored by Debenhams, Waitrose and a 14-screen Cineworld with a retail line-up that includes Topshop, TK Maxx, Gap, New Look, Primark, Next, H&M, River Island, Oliver Bonas and Jones Bootmaker, as well as café and restaurant operators such as Planet Organic, Patisserie Valerie, Rossopomodoro, Wagamama, Nandos, Prezzo, Costa and Ed’s Easy Diner. The centre also boasts a Virgin Active health and fitness club and 1,200 car parking spaces.
About the Garratt Lane development
The £40 million development underway on Garratt Lane will seamlessly extend the success of Southside’s inside, to the outside. With a total of 130,000 sq ft of new retail space being delivered as part of the phased construction which completed at the end of 2015, the emerging streetscape has changed the face of Southside. The new development brought Wandsworth its first department store, with an 82,000 sq ft Debenhams that opened in October 2015.
Wandsworth is one of South West London’s most desirable residential locations, currently benefiting from more than £1 billion of private sector investment. Southside is at the heart and serves as a convenient catch-all for the borough’s high population of ABC1.