The initial, key task was to improve the tenant mix and enhance investment value by securing lettings and regearing key leases. GCW devised and implemented a national marketing strategy to establish the centre firmly in the minds of retailers. It produced innovative centre-branded marketing material including a bespoke brochure and marketing particulars.
The next stage involved devising and implementing a tenant mix strategy which included embracing the link between the city’s office quarter and the prime retail pitch of Fargate. Key transactions included a regear of the anchor tenant, TK Maxx’s lease, securing the retailer until 2026 and agreeing a letting to Virgin Money for its UK flagship branch. It also secured additional ‘grab and go’ food lettings.
GCW’s strategy, implemented from 2011, has delivered tangible results, moving rents from £80 to £90 Zone A and repositioning the centre within Sheffield’s retail hierarchy.