(LONDON) – Hines, the international real estate firm, has secured new leases at The Centre, Livingston, with a range of top retail brands including Hotel Chocolat, New Look, Specsavers and schuh Kids. Hines is the asset manager of The Centre, which is one of Scotland’s largest covered shopping centers, located in West Lothian.
Hotel Chocolat moved into The Centre in late August, taking 1,433 square feet of space on a five-year lease. In addition, New Look will increase their presence in The Centre, relocating from their current store into a larger 10,700 square feet space. The high street fashion brand will complete its move into the new space in early 2020.
Specsavers will also relocate from its current location into a larger space at The Centre, taking a 10-year lease on a 3,502 square feet unit. Fashion brand schuh, which is located adjacent to Specsavers’ current store, will then expand into the vacated unit allowing the footwear retailer to introduce its schuh Kids range into The Centre.
The latest store openings and expansions, signed with long-term leases, underline The Centre’s continued popularity with retailers and shoppers. The Centre saw a record 16.6 million visitors over the past year, with visitor numbers up 8.3% on this time last year. In 2018, The Centre’s adjacent retail park also saw the opening of Next and TK Maxx’s introduction of its Home Sense concept, while H&M moved into the former BHS store within The Centre.
Eric Young & Co and Savills acted for the landlord on the new leases.
Sharon Bloodworth, Director of Shopping Centre Asset Management at Hines, said: “The Centre continues to attract the UK’s biggest and best loved retailers, providing a dynamic mix of retail and food and beverage brands. At a time of disruption in retail, The Centre is bucking the national trend, with retailers seeing record footfall and introducing new ranges. Livingston’s population continues to grow, and our retailers are successfully combining their digital and physical stores, with more than 40 retailers offering click and collect services at The Centre.”
Peter M Harris, Co-Founder & Development Director at Hotel Chocolat, said: “We are delighted to have opened this new Hotel Chocolat to share our passion for world-class chocolates with the shoppers of in Livingston. Available in store will be The Velvetiser, the home hot chocolate making system as well our authentic and original range of chocolates for Christmas.”
The Centre, Livingston, comprises 1 million square feet of retail space and is situated in Scotland’s commercial heartland. It is home to over 160 retailers, including Primark, H&M, TK Maxx and M&S, as well as various restaurants, including Nando’s, Wagamama and ASK Italian. The Centre is also an important and popular local employer, attracting over 1,100 local people to its September 2019 recruitment event and with over 150 roles advertised by retailers.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 219 cities in 23 countries. Hines has approximately $124.3 billion of assets under management, including $63.8 billion for which Hines provides fiduciary investment management services, and $60.5 billion for which Hines provides third-party property-level services. The firm has 148 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,362 properties, totalling over 449 million square feet. The firm’s current property and asset management portfolio includes 514 properties, representing over 222 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.