Metrocentre makes fast start to 2025 after record-breaking year
Metrocentre has made a fast start to 2025, following on from a record-breaking year for both sales and footfall at the Gateshead scheme.
So far in 2025, footfall has increased by 9.2% year-on-year, bolstered by the completion of a near 300,000 sq ft of deals last year.
This January growth comes as Metrocentre announces its figures for 2024, a year during which it welcomed 15.8 million visitors, a 10% increase on 2023.
Sales performance also increased at Metrocentre in 2024, up by 5.3% year-on-year. The food and beverage, sports fashion, and health and beauty categories saw the biggest increases, with the latter recording an uptick in sales of 8.2% over the course of the year.
The year was capped off by an increase in festive footfall, going against national trends. In December, Metrocentre welcomed two million visitors, up by 2.9% vs December 2023, and footfall during the final week of the year outperformed 2023 by 30%.
Over the course of the year, Metrocentre introduced 21 new brands, including Sephora, Mango, and Reiss, alongside regional debuts for Sosandar and GO Outdoors. River Island, Primark, Victoria’s Secret, and Clarks were four of 17 existing tenants that upsized or refurbished their stores over the course of the year.
The scheme also welcomed new F&B and leisure tenants, including likes of Tomahawk Steakhouse, German Doner Kebab, The Escapologist, and YoYo Noodle.
Last year also saw the launch of a new NHS Community Diagnostic Centre at Metrocentre, as well as the announcement of a £6 million redevelopment for the Green Mall entrance, set to enhance the public realm, revitalise a key gateway into the centre, and create over 18,000 sq ft of anchor, evening F&B space.
Ben Cox, director at Sovereign Centros from CBRE, asset manager of Metrocentre, said: “We are delighted to have driven some really positive trading results over the festive period following yet another busy year at Metrocentre, the benefits of what was accomplished already carrying into 2025. We’ve introduced several top brands to the centre, ones we knew would build excitement amongst our visitors. We’ve been able to facilitate growth in more ways than one, whether that’s renewed leases, refurbished units, or continual investment in the centre itself. Our performance shows that visitors want to come here; they have access to best-in-class retail, F&B, and leisure, and this is on track to continue as we kickstart 2025 with a healthy pipeline of new leasing activity.”