Orchard Square raises Sheffield profile

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.

Key Facts

• Owner: LAP
• 140,000 sq ft
• City Centre car parking
• 27 retail units
• Anchor tenants: TK Maxx, River Island, Virgin Money and Waterstones