THE decision by leading names to take up or renew space over the past few weeks is indicative of a continued confidence in physical retail, combined with a compelling leisure and F&B offering, and its long-term value to brands’ multichannel strategies. It is now well-established that a physical presence in a high footfall location significantly drives not just in-store sales, but also general brand awareness and consequently online sales – often referred to as the store’s ‘halo effect’.
The deals are also testament to the unique strengths that the centre continues to offer retailers and leisure providers, including expert assistance with safe management of space throughout the pandemic.
Leasing activity – summary
Lakeside welcomes Boom Battle Bar – a 14,779 sq ft adventure bar filled with exciting games and activities – like Bavarian Axe-Throwing, Indoor Curling, Augmented Reality Darts, Shuffleboard, Beer Pong and more. The venue also serves street food and ‘instagrammable cocktails’
Apple has opted to renew its lease on a 5,502 sq ft space at Lakeside
Leading optician and eyewear retailer Vision Express has renewed its lease on a 3,882 sq ft space at the centre
Richard Beese, Co-Owner of Boom Battle Bar, comments:
“We are very excited to be coming to this incredibly popular centre. Our offering is very unique and oozing with fun which is exactly what we all need after the last 12 months.”
“We will also be creating around 25 new jobs for the surrounding communities.”
“We will be situated next to our sister company, Flip Out, which makes this extra special. We have a further 20 sites coming this year and it is safe to say Lakeside will be one of the best performers.”
Steve Gray, Head of European Retail Asset Management at Global Mutual, comments:
“We are delighted to welcome an exciting new name to the centre, and to renew terms with some of our valued existing brands.
“Lakeside remains prime retail and leisure space, and brands continue to be drawn to us – for our high footfall, as well as the support we can offer as we navigate an uncertain period.
“Despite the continued disruption brought by lockdowns, physical retail remains a central pillar of brands’ long-term strategies, key to driving sales online as well as in-store. We have seen continued interest in our space from prospective tenants and have a number of further exciting deals in the pipeline.
“All of this means we continue to make excellent progress against our three core strategic objectives – improving rent collection, securing our anchor tenants’ leases and adding exciting new footfall drivers to our centres.”