Orchard Street Investment Management, the specialist commercial property investment manager, announces that it has agreed terms for the opening of two exciting new brands at Old George Mall in Salisbury, the cathedral city centre’s prime retailing destination.
H&M will open a newly created anchor store of 16,686 sq ft over two trading floors. An agreement for lease is in place which will allow work to begin in May 2013 to amalgamate four currently separate units in a prime location in the mall. The new store will open in autumn 2013. H&M have signed a 15 year lease with a break at seven years.
Cafe Rouge is currently fitting out and on schedule to open a new 3,500 sq ft restaurant, arranged over the ground and first floor, in spring 2013. Units 15/21 High Street occupy a highly prominent corner location at the entrance to the shopping centre on a pedestrianised street which will be improved by an external seating area. Cafe Rouge has signed a new 15 year lease.
Andrew Jenkins, Asset Manager at Orchard Street, commented:
"The two lettings are a great endorsement of Salisbury’s trading potential and further strengthen Old George Mall as the city’s retailing heart. We are delighted to have secured H&M, one of the most recognizable brands in today’s high street fashion market and believe they will bring a new dimension to the scheme. Their opening in autumn 2013 is keenly anticipated. Café Rouge will bring a quality day time focussed restaurant offer which will strengthen and diversify the current retailer line up, add to dwell time and improve the public realm of the High Street/Old George Mall."
Savills is acting as sole letting agent.
For more information:
Notes to Editors:
Orchard Street Investment Management
Established in 2004, Orchard Street Investment Management LLP is a leading specialist commercial property investment manager, focused on the UK market. It acts on behalf of institutional clients world-wide to advise on investing in and the active management of property assets, including industrial, retail warehouses, offices and shopping centres. Orchard Street currently has assets under management exceeding £4 billion.