Realis Estates has secured three new lettings at The Rushes
Shopping Centre in Loughborough, leaving just one 1,000 sq ft unit
available in the 225,000 sq ft scheme.
Next and Sports Direct have taken a total of 37,500 sq ft in two
units, relocating from much smaller stores in the Market Street
area of the town. They join Tesco, Argos, TK Maxx and Marks &
Spencer in the centre - which also boasts the town's main car park
and an LA Fitness.
Next has signed a 10-year lease on a 15,000 sq ft unit - more
than four times the size of its existing store in Loughborough.
Landlord's works have already started on site to combine four
vacant units located between to HMV and Marks & Spencer. Next
plans to open its new store in time for Christmas 2011 trading.
Meanwhile, Sports Direct is also relocating from Market Place to
The Rushes, taking a 10 year lease on the 22,500 sq ft former JJB
unit. The new store, which is almost ten times the size of Sports
Direct's current shop in the town, will open in October/November
2011.
Realis has also let 7,143 sq ft to public house operator, Bar
Sports on The Rushes - at the front of the scheme. They have taken
immediate occupation and due to open in October.
Duncan Mathieson, Managing Director of Realis Estates (which
asset manages The Rushes), commented:
"These deals fit perfectly with our strategy for The Rushes and
represent a huge vote of confidence in Loughborough. These are not
just simple relocations from one part of town to another. Two of
the UK's most successful retailers are dramatically increasing the
size of their representation in Loughborough. The Rushes is the
only location in town able to provide the size and configuration of
unit to allow these retailers to taken this kind of space.
"The closure of Woolworths in 2009 could have been a body blow
for The Rushes. Many thought it would be. In fact, since then, we
have taken the scheme from strength to strength, agreeing a series
of important letting deals with Tesco, Argos, HMV, Muffin Break and
now Next and Sports Direct. We are delighted with the progress we
have made in Loughborough and look forward being able to say that
the scheme is fully let once we have secured the final tenant."
Letting agents for The Rushes are BWD. CBRE also advised
Realis on the Next and Sports Direct deals.