Victoria Square in Belfast celebrates 2 billion sales

Belfast shopping centre Victoria Square owned by Commerz Real is celebrating its tenth anniversary this month with the news that it has hit a landmark 2 billion pounds in sales since opening.

Victoria Square, which is Northern Ireland’s largest ever retail-led commercial development, features 800,000 square foot of retail space and when opened 10 years ago extended the amount of retail space in the city centre by almost a third, as well as attracting regional debuts for international brands in Northern Ireland, including Michael Kors, Karen Millen, Mango, Pretty Green, Hugo Boss, and JD Sports.

Katharina von Schacky, divisional head of Real Estate Markets Shopping at Commerz Real, said: “We are delighted to report this landmark achievement for Victoria Square. Commerz Real continues to use its resources and industry knowledge to ensure that high quality is maintained across its international assets and we look forward to Victoria Square continuing to outperform. We remain committed not only to Victoria Square, but to Belfast as well.”

Anyi Hobson, senior asset manager at Commerz Real, added: “The significant investment Commerz Real has put into the destination and a well-executed, long-term leasing strategy has made it the city’s dominant retail and leisure destination. It is a standout site both locally and within our international portfolio of destinations.”

Victoria Square, which fashion houses brands including AllSaints, Calvin Klein, Boux Avenue, Coast, H&M, Fat Face, Hobbs and River Island, employs almost 2,500 staff and has contributed around 7.5 million pounds in rates every year since opening, a total of more than 75 million pounds that has gone into the local economy.

The shopping centre also does a lot for the local community and in the past decade has raised more than 200,000 pounds for local charities. For 2018, Victoria Square has chosen mental health as its cause of the year and will be providing support to five local mental health charities.

Criona Collins, head of retail agency at Lambert Smith Hampton, Victoria Square’s asset manager, added: “Our team has been involved in the leasing of 31 units over the past five years, which has kept Victoria Square’s leisure and retail offering fresh, attractive and exciting.

“In the last 12 months, we have worked on some very exciting investments, including the 5 million pounds renovation by House of Fraser, which saw the entrance of new brands including Charlotte Tilbury, Nars and Frédéric Malle. Our leasing strategy focuses on providing aspirational brands and adapting the line-up to fit shifting consumer trends.”

Images: courtesy of Commerz Real/Victoria Square, Belfast