Eldon Square Ltd and Newcastle City Council have announced details of an enhanced Co-operation Agreement and ‘game-changing’ planning submissions, which aim to deliver of a series of major new leasing deals, while offering significant benefits to the city centre and local community.
These will expand Eldon Square’s mix of brand partners beyond retail, food and beverage to include over 200,000sq ft of new leisure and entertainment opportunities serving the city centre.
The Co-operation Agreement further strengthens the ongoing partnership between Eldon Square Ltd and Newcastle City Council, providing a great example of public and private sectors working together in agile ways to achieve faster growth and sustainable success. The collaboration will also support Eldon Square in making a valuable contribution to the local community, environment and providing up to 500 new job opportunities.
Pete Cooper, director at Eldon Square Ltd, said: “With these deals, Eldon Square consolidates its position as a Premier League player in Newcastle city centre and our flourishing partnership with Newcastle City Council enables us to progress our ambitious growth plans at speed. We are accelerating the centre’s performance, whilst helping to widen the city centre’s leisure and entertainment offering.”
Cllr Nick Kemp, leader of Newcastle City Council, said: “This exciting announcement shows just how attractive Newcastle is for global retailers. It is a vote of confidence in our city centre and a statement of intent by the retail industry.”
Meanwhile, a new leasing deal will see a new 61,000sq ft Next department store open in the former Debenhams unit in November 2024.
Cooper continued: “Next’s new store will significantly increase the brand’s presence in the city. It is great to see one of our existing retailers investing in Eldon Square and expanding their offer to meet customer demand in line with the latest retail trends.”
Hot on the heels of the Next announcement comes Sephora, opening at Eldon Square later this year, in a new 6,600sq ft store.
