Stannifer - Retail Letting - Romford, The Brewery
Date: 25 Sep 2002
Fresh from picking up yet another Retail Property award, Stannifer and J Sainsbury Developments, joint developers of the M25’s largest retail and leisure scheme, have agreed terms on the last remaining retail units within the 46,450 sq m (500,000 sq ft) development.
Following the success of the Brewery’s main shop units, the developers have released a further 10 small retail units from 32 sq m (350 sq ft), which provide opportunities for smaller retailers to participate in the highly successful trading results that existing retailers have seen in this location.
Operators are also competing for the last leisure unit in the scheme. A final 929 sq m (10,000 sq ft) of multi-leisure-use space is now available, following successful deals which have just been concluded with children’s play facility operator Playtown and restaurant chain Prezzo’s.
Prezzo’s, a new brand being developed by the founders of City Centre restaurants and Ask Pizza, chose the Brewery as the ideal venue from which to promote the restaurant and commence the rollout programme for the Prezzo name.
On the retail front, The Entertainer took the last retail unit totalling 511 sq m (5,500 sq ft), while shoe retailer Deichmann Shoe signed for 883 sq m (9,500 sq ft).
Institutional lease lengths were agreed on all deals, at rents that reflect the prime location of the scheme.
Andy Macdonald, Stannifer development manager, said: “Our ability to attract retailers who have not previously traded in this part of the UK demonstrates the unique nature of this development. As a company we are developing this type of product in other strong retail locations where these new centres are beginning to reflect the type of success enjoyed by the Brewery.”
Barry Henderson of J Sainsbury Developments commented: “We are delighted that the Brewery’s pull has been strengthened by these lettings.”
The first phase of the Brewery opened in April 2001. Tenants already announced include Sainsbury’s, Boots, GAP, Thomas Cook, Brantano, JJB Sports, Pizza Express, Starbucks, Powerhouse, McDonald’s, TK Maxx, Dixons, Carphone Warehouse, JD Sports, Frankie & Benny’s, Nandos, Outback Steakhouse and Harry Ramsden. The 19,509 sq m (210,000 sq ft) leisure element includes a 16-screen Ster Century cinema and 4,181 sq m (45,000 sq ft) Esporta health and fitness club.
Stannifer plans to replicate this string of successful lettings in its next major retail and leisure development at Union Square, Aberdeen. The company is already in talks with leading retailers and leisure operators to take space in the 46,450 sq m (500,000 sq ft) city centre scheme.
Romford Developments Limited, a 50/50 joint venture between J Sainsbury Developments Limited and Stannifer, developed the Brewery. The letting agents were Insignia Richard Ellis, Michael Varley Limited and Grant and Partners.
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