A new shopping centre in Leeds has already found tenants for most of its units, despite not being scheduled to open its doors for over a year.
According to Retail Gazette, Trinity Leeds – the only major British shopping centre currently under construction – has pre-let 54 per cent of its units, while a further 6.7 per cent are being processed by solicitors ahead of finalised deals.
Owner Land Securities recently obtained planning permission for a new Primark outlet at Trinity Leeds, with prime retail space at a premium as the rate of new developments slows. The £200m centre is expected to open in February 2013.
“We are operating in a challenging environment and we expect pressures in managing occupancy rates to continue,” said chief executive Francis Salway. “However, we have been encouraged by our first half performance and by the number of enquiries on our development schemes.”
Last week, commercial and office property developer Hammerson revealed occupancy rates at its retail sites had remained steady in recent months, despite lingering concerns about the impact of economic weakness on consumer confidence.
