Sovereign Land - Retail Letting - Cardiff, Mermaid Quay

Date: 03 Sep 2002

Sovereign Land and Schroders have let two more units at their Mermaid Quay development in Cardiff. An international optical superstore chain and a leading national estate agency have both signed up for units at the new £35 million shopping and leisure scheme on the waterfront in the heart of Cardiff’s Bay area.

Classic Eyes has taken the 120 sq m (1,295 sq ft) Unit 7 for its third optical superstore in the UK. Located in pedestrianised Stuart Street, adjacent to Ken Picton Hair & Spa’s award winning salon, the ground floor unit has been taken on a new 10 year lease at a rent of £28,000 per annum. The store is due to open in mid-October.

Classic Eyes is already a leading express optical superstore group in South Africa, where the company was started in 1991, and is now growing rapidly in the UK. All stores are franchised, except the prototype stores in Bournemouth (UK) and Pavilion (South Africa).

Jessica MacMorris, Director of Classic Eyes and franchisee of the Mermaid Quay store, said:
“I was attracted to Mermaid Quay by its location at the heart of Cardiff Bay which is currently seeing a dramatic influx of both residents and businesses. This, coupled with the high quality environment, made it the perfect site for the Classic Eyes concept.”

Unit 13, on Bute Street, has been let to Taylors Estate Agents, part of the national Countrywide network. Specialising in the sale and letting of residential properties, Taylors was established in1992 and the new Mermaid Quay branch will be the ninth in the chain. The unit has been taken on a 15 year lease for an annual rental of £21,000 and is expected to open in October.

Commenting on the lettings, Graeme Newman, Managing Director of Sovereign Land, said:
“We are delighted to welcome both Taylors and Classic Eyes to Mermaid Quay. Both companies have proven track records and will contribute to the vibrant combination of leisure, retail and services that makes Mermaid Quay the heart of Cardiff Bay for local residents and workers as well as visitors.”

Classic Eyes and Taylors will join the impressive line up of shops, bars and restaurants already at Mermaid Quay, including Bar 38, Cadwalader Ice-Cream Café, Coffee Mania, De:aLto Mediterranean Restaurant, Eddie’s Diner, turquoise, Izakaya Japanese Tavern, Pearl of the Orient Chinese Restaurant, Scallops Fish Restaurant, Café Naz Indian Brasserie, On The Waterfront, Via Fossa Theme Bar, Bosphorus Turkish Restaurant, Ken Picton Hair & Spa, Cardiff Bay Dental Centre, The Glee Club, La Perla Living, The Designer Room Shopping Outlet, IDEAS Sound & Vision and NatWest Bank.

Letting agents for Mermaid Quay are Cushman & Wakefield Healey & Baker, King Sturge and Philip Hughes Davies.

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