Tenants extend at Overgate following Frasers investment
A number of tenants have extended at Dundee’s Overgate Centre following an investment into the scheme by Frasers Group.
The group – which acquired the centre in March for around £30m – has confirmed plans to turn the former Debenhams into a Frasers department store with an opening planned for September.
Now a number of existing tenants at the scheme are renewing their leases, with others pledging investment into their stores, The Courier reports.
Recent renewals at the Overgate include Claire’s, Warren James, Goldsmiths, and Greggs. This year, Warren James, Goldsmiths, Chopstix, and Costa are planning to upgrade their stores.
Following a £5m development, the ground floor of the former Debenhams will become home to the Frasers department store, whilst the first and top floors will become a Sports Direct with Evans Cycles and USC.
As a result, the current Sports Direct and USC stores will become vacant. Meanwhile, both Smiggles and Argos are set to leave the scheme by January and March respectively.
Another Frasers brand, Flannels, is considering a move into the current Argos or Sports Direct units.
Scheme manager Malcolm Angus said Frasers’ arrival will benefit all of the centre’s shops.
He added: “Frasers Group buying the Overgate has been very positive. Millions are being spent on Frasers and potentially millions more in refurbishing the mall.
“A solar panel project, EV charging and cosmetic upgrades in the mall are all on the table.”