Debenhams to anchor Westfield’s nottingham centre
05 October 2007
Countries: United Kingdom
Westfield and Hermes, joint owners of Broadmarsh, are pleased to announce Debenhams as a key anchor store in the new 700m redevelopment of the Broadmarsh Centre.
Debenhams will increase their retail presence in the City with the creation of a modern 155,000 sq ft store that will replace their existing 101,911 sq ft Nottingham outlet.
Rob Templeman, Chief Executive, Debenhams, said: “The opportunities that have arisen with Westfield are pivotal in our aspirations to widen our retail offer in key locations across the UK. We are confident that our shoppers will welcome the improved facilities that this fresh and exciting new store will offer.”
Mr Michael Gutman, Managing Director UK/Europe, Westfield, said: “Successfully completing Derby six months ahead of schedule, 98% let and expecting to have almost all stores trading on opening, sets a high standard. Today we are delighted to announce that we have agreed heads of terms with Debenhams to underpin another of our major schemes in the UK. Following on from these transactions and the completion of Westfield London, Debenhams will be a key component in six out of ten of our UK centres.
“Over the next decade our completed pipeline will be worth approximately 11bn from 4.3bn today and will have resulted in the creation of around 80,000 new jobs in the UK.”
Cllr Jon Collins, Leader of Nottingham City Council said: “Im really pleased that key stores have been secured to underpin this massively important development for Nottingham. It will not only enhance Nottinghams appeal as one of the countrys most popular shopping destinations, but will revitalise that part of the city centre and complement our plans to transform the station and the south side of the city.”
The scheme recently received planning consent to increase retail space to 1.4m sq ft which will enable Westfield to better meet the requirements of its retailers for larger stores. The centre will offer an excellent mix of retailers across three levels. In addition to fashion retailers the new centre is also expected to include a supermarket, a fresh food hall along with arcade cafs and roof top restaurants providing panoramic views of Nottingham City Centre. Marks and Spencer will also anchor the scheme.
Debenhams will also anchor Westfields 300 million Broadway regeneration project (588,000 sq ft) in the centre of Bradford. It will create a stunning new retail destination with a dynamic mix of retailers, from international brands to independent specialist stores. Marks & Spencer will also anchor the scheme.
Debenhams is also a key anchor to Westfield Derby the largest retail-led development to open in Britain this year. Westfield Derby represents the beginning of a major development programme by Westfield to expand in the UK market.
The centre consists of 1m sq ft of retail, food and lifestyle space. In addition to anchors Marks & Spencer, Debenhams, and Sainsburys, the development has 16 MSUs, a 12-outlet food concept, a 12-screen Cinema de Lux that will open at Easter 2008, and parking for 3,700 cars. Westfield Derby employs 2,850 people most of whom live locally.
The Westfield Group (ASX Code: WDC) is the worlds largest retail property group by market capitalization. It is an internally managed, vertically integrated, shopping centre group undertaking ownership, development, design, construction, funds/asset management, property management, leasing and marketing activities and employing in excess of 4,000 staff worldwide. It has investment interests in 119 shopping centres in four countries, with a total value of in excess of A$60 billion and is the largest retail property group in the world by equity market capitalisation. In Britain, Westfield owns interest in seven operating shopping centres at; Guildford, Tunbridge Wells, Merry Hill, Derby, Nottingham, Belfast and Lisburn. In addition to these, it has three urban regeneration projects, two at London (White City, Stratford) and one at Bradford, West Yorkshire.
Hermes holds approximately 4 billion of property assets in the retail sector, of which 1.972 billion (net) is invested directly and indirectly in 17 shopping centres throughout the UK and over 600m under management through X-Leisure. The Hermes Retail portfolio also has substantial interests in retail parks, unit shops and indirect holdings.
Notes to editors
Broadmarsh is owned by the Broadmarsh Retail Partnership, a joint venture between Westfield and Hermes Property Asset Management on behalf of the Royal Mail Pension fund.
The new centre will include:
- A 1.4m sq ft new shopping development providing a southern gateway to the City Centre of Nottingham
- 2 department stores Marks & Spencer and Debenhams
- 3 main levels providing a wide range of shopping from local stores to international brands offering something for everyone. A supermarket and fresh food hall
- Arcade cafes and roof top restaurants enjoying views of the City
- A food court with 1,200 seats providing a range of international cuisine
- A major new public open space for the City surrounded by bars and restaurants with spectacular views of Nottingham Castle
- A new shopmobility service
- A state of the art transport interchange linking bus and tram services with parking and passenger drop off points
- A tram stop integrated within the development for easy access to the shops
- A new airport style bus station with additional bus stops and bus priority lanes
- User friendly parking for 3,000 cars spread across 4 multi- storey car parks
- A cycle network with cycle storage facilities provided at the Centre
- A new simplified highways network with pedestrian friendly crossings and wider pavements
The Broadway development is wholly owned by Westfield and is a 10-acre site located in the heart of Bradford City Centre, West Yorkshire.
The 350 million mixed use regeneration project will include;
- A 588,000 sq ft regional shopping centre
- A department store anchor (Debenhams)
- 2 further anchor stores (including M&S)
- 2 main levels of retail
- A high quality cafe court
- 2 new public open spaces in the centre of the city
- A new shopmobility service
- User friendly parking for over 1,700 cars
- 40,000 sq ft offices
- 180 residential apartments