Goldsmiths expands in Solihull

Luxury watch and jewellery retailer Goldsmiths has upsized its presence at Touchwood Shopping Centre in Solihull.

Leaving behind its older unit, Goldsmiths has opened a new 3,550 sq ft store on a 10-year lease within the scheme.

The retailer’s parent group, The Watches of Switzerland Group, is also behind the opening of a TAG Heuer store at Touchwood earlier this year.

Goldsmith’s expansion comes after a period of strong trading at the shopping centre, with the move in line with the scheme’s wider strategy. Touchwood owner Ardent, alongside asset manager Sovereign Centros, has developed the strategy which aims to diversify the scheme’s offer and attract premium brands, with other recent arrivals including Polestar and Miele.

In the first year after Ardent acquired the scheme in summer 2021, some 75,500 sq ft of new lettings and lease renewals were signed, pushing the occupancy rate up to 96.32%, compared to 91.2% at acquisition.

Simon Phipps, asset manager at Sovereign Centros, said: “It is always pleasing to see an existing retailer choose to expand its footprint, as Goldsmiths has done, as it both reflects the store’s trading success to date and vindicates the wider strategy being pursued.”