Cribbs Mall is gearing up for an exciting New Year following a successful 2023 in which 36 leasing transactions took the principal West Country shopping centre to almost 100% occupancy.
Joint asset managers of Cribbs Mall – M&G Real Estate and Pradera Lateral – reported that during 2023, 110,663sq ft of leasing transactions were concluded. This included six new lettings with the likes of Victoria’s Secret, Mango, Charles Tyrwhitt and Greggs all arriving at the centre over the past 12 months. Meanwhile, 28 retailers renewed their leases, including popular outlets such as Boots, Waterstones and Fat Face all committing their futures to Cribbs Mall.
In addition to the new arrivals and lease renewals, Wagamama and Phase Eight have expanded their presence at Cribbs Mall. Wagamama signed a new 15-year lease to upsize its unit from 3,455sq ft to 4,499sq ft and popular clothing brand Phase Eight has signed a new five-year lease for a larger 4,146sq ft unit which will open early in 2024.
M&G and Pradera Lateral also reported that footfall at Cribbs Mall was 8% higher than the previous year thanks to the continued presence of popular brands such as John Lewis, M&S, JD Sports and the Apple Store, as well as the new arrivals to Cribbs Mall during 2023. The centre has benefited from a diverse range of occupiers, including F&B outlets such as Nandos, Pizza Hut, Slim Chickens and Patisserie Valerie, which recently opened its new concept store within the Avenue, the home of Cribbs Mall’s dining options. Cribbs Mall also boasts a varied fashion offering with names such as Next, Mango and River Island, as well as a growing presence of jewellery and gift operators including F.Hinds, Clogau, Beaverbrooks and Breitling. This line-up has helped cement Cribbs Mall’s position as one of the South West’s premier retail destinations.
M&G and Pradera Lateral have also welcomed Longlands to the neighbouring Cribbs Retail Park, with the furniture retailer completing a 10-year lease for a 9,995sq ft unit. This takes the retail park to 100% occupancy with B&Q, Currys PC World, Ninja Warrior, and Smyths also occupying large units.
Scott Linard, portfolio director at M&G Real Estate, commented: “As we move into the New Year, we are already talking to several retailers who are keen to benefit from the strong footfall which Cribbs Mall is experiencing. It is certainly an exciting time for Cribbs Mall – and the wider Cribbs Causeway area – which is continuing to grow, thanks to several new neighbouring attractions, including the relocated Bristol Zoo and the creation of additional residential communities to the north of Bristol. These developments, combined with the diverse range of operators located across Cribbs Mall, Cribbs Retail Park and Cribbs Venue, means the area is a perfect location for retail, leisure and F&B companies looking to increase their presence in the West Country. We look forward to welcoming more new arrivals in 2024.”
James Osbaldeston, asset manager at Pradera Lateral, added: “The past 12 months have been hugely successful for Cribbs Mall and the surrounding area. It has been great to welcome strong retail brands such as Victoria’s Secret, Charles Tyrwhitt and Greggs, as well as growing operators including Clogau and Mooch. It has been particularly pleasing to see so many of our popular retailers commit their futures to Cribbs Mall, in particular Phase Eight and Wagamama, both of which have increased their presence at the centre by taking more space. We look forward to working with our existing and future operators to ensure Cribbs Mall continues to provide an environment which supports their needs and ensures they continue to trade successfully.”
Time Retail Partners and Cushman & Wakefield are Cribbs Mall’s retained letting agents.