Mell Square shopping centre in Solihull is bucking the economic trend with a series of lettings secured since June this year. Lease expiries and receiverships have created a number of vacant units which have been in strong demand from retailers keen to take units in the affluent market town.
Lettings at the centre, handled by GCW with Cushman and Wakefield for Aviva, include the move by fashion retailer New Look to a prominent 32,000 sq ft unit in the centre at a rent of £438,000 pa. The move is set to encourage other fashion stores into Mell Square.
Other deals include:
· Cotswold taking a 10 year lease of a 6,000 sq ft unit at £127.500 pa
· Internacionale moving to a 5,000 sq ft unit at £45,000 a year
· Regional food operator, Baguette du Monde taking a 10 year lease on an 870 sq ft unit at a rent of £48,500 plus turnover top up
· Multi brand fashion retailer, Parkinsons moving to larger premises of 2,300 sq ft on a five year lease at £50,000 pa
· Garden and gift retailer Hidden Eden taking a 10 year lease on a 2,000 sq ft unit at £42,500 pa
· British Heart Foundation taking a 2,100 sq ft unit at £42,000 pa.