Overgate Continues To Be Firm Favourite With Retailers
Wednesday, 30 November 2011
A trio of top retail brands have pledged their continued commitment to Overgate shopping centre - the top ranking retail destination in Dundee, Scotland's fourth largest city.
Next, Claire's Accessories and Argos have all extended their leases at the popular Land Securities shopping centre.
The centre has undergone a number of changes since being purchased by Land Securities last year, including store openings for new retailers including Superdry, Stormfront and Paperchase. The improvements have been well received by shoppers and retailers alike.
Leading the renewals is retail giant Next, which has extended its lease for 10 years. The store is currently undergoing a refurbishment which is due to be completed by mid-December, in time for the Christmas shopping rush.
High street favourite, Argos, has also extended its Overgate lease for a decade and plans to refurbish in the new year.
Claire's Accessories has lengthened its lease by another five years.
Jonny Buckle, Land Securities portfolio manager, said: "We are pleased that Next, Argos and Claire's have all shown their continued commitment to the centre.
"We have been looking at the ways we can further enhance Overgate, to give Dundee shoppers the best possible retail experience. Throughout the year we have been improving on the retail offering and the overall shopping environment. This includes bringing in big names such as Superdry, Stormfront and Paperchase which has set Overgate apart from the competition."
Scotland's fourth largest city, Dundee has a residential catchment population of over 575,000 with a market potential of £451 million.
Agent Montagu Evans represented Land Securities.
Issued by Beattie Communications on behalf of Land Securities
Notes to editors:
Land Securities is one of the UK's leading real estate investment trusts with a Scottish portfolio comprising:
- The Centre and extensive retail warehousing developments in Livingston
- Livingston Designer Outlet (joint venture with Aviva)
- Bon Accord & St Nicholas Centres in Aberdeen (joint venture with British Land)
- Buchanan Galleries in Glasgow (a joint venture with Henderson Global Investors)
- Overgate shopping centre, Dundee
- Kingsway West retail park in Dundee
In March 2004, Land Securities entered into a 50/50 joint venture with British Land to create the Scottish Retail Property Limited Partnership which now includes its joint Aberdeen holdings.