Prime retail still in demand in spite of Brexit

Despite the numerous uncertainties set into motion when the UK voted to leave the EU, prime retail space across the country remains in high demand.

Global estate agency Hammerson has signed over seven leases, which total over 3,010 square meters, over the past 10 days throughout its UK shopping centre and retail portfolio. Retailers across the fashion, beauty, food and homeware sectors have committed to opening new retail space as they strengthen their store presence, in spite of the political uncertainty which has taken ahold of the country.

Prime retail still in demand in spite of Brexit

Retailers push on with retail expansion plans following Brexit

Lingerie brand Ann Summers is set to open a 218 square meter store within the WestQuay Shopping centre in Southampton, and Danish homewares specialist Flying Tiger Copenhagen aims to open its first outlet in Southampton, a 825 square meter store this summer. Jack Wills is set to open a 295 square meter store in Silverburn, Glasgow, Scotland this summer, as will Italian cosmetics brands Kiko Milano.

“We have had numerous conversations with our retailers post the EU referendum, and the majority remain committed to delivering their expansion plans," said David Atkins, Hammerson chief executive in a statement. "While the activity over the past week doesn’t provide a perfect indicator on future demand it does demonstrate initial resilience in the retail sector post the Brexit decision and is evidence that investment in prime retail locations is still a priority for brands.”

Maxwell Bacon of Percassi Group, owners of Kiko Milano added: “Our expansion into such a prominent location in Glasgow helps us to increase our brand presence in the Scottish market and provides our customers with a new store experience within this growing and strong performing Silverburn catchment.”

Photos: WestQuay and Silverburn, Hammerson

 

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