Schroders announces spree of leasing activity

Schroders has announced a wave of retail leasing activity which sees 93% of its portfolio now let.

Among the activity is a 15-year lease secured with pets supplies retailer Pets at Home for a 15,000 sq ft unit at Schroders’ now fully occupied Winfrey Avenue Retail Park in Spalding, Lincolnshire, also home to B&Q and Iceland.

Schroders also recently announced a series of lettings at two of its larger assets in Bracknell and Romford.

A 40,000 sq ft Sports Direct has been opened at The Lexicon in Bracknell within Princess Square, which has recently seen a £30m redevelopment. The Lexicon has also signed off a combined retail space of 22,041 sq ft, including the letting of a Giggling Squid restaurant and women’s clothing store quiz.

The Brewery in Romford has seen Schroders secure 18,907 sq ft of lettings to Turtle Bay, Wagamama, and Five Guys.

Meanwhile, Turner Rise Retail Park in Colchester has seen the arrival of a McDonald’s drive-through, while home furnishings retailer Dunelm has seen a renegotiation for a c.30,000 sq ft unit on a five-year reversionary lease. Schroders has also secured a deal for a new five-year lease with Sports Direct on Mile End Road in Central London.

Schroders has also announced the leasing of 4,800 sq ft unit in Cardiff’s Mermaid Quay to Giggling Squid, set to open in 2023.

Schroders said that other recent work includes new public realm investment at Mermaid Quay, and that it plans improvements at The Brewery to increase the number of electric charging points, introduce solar panels, and improve contactless facilities for parking.