Durham retail park attracts top fashion names
CBRE Global Investors has completed the multi-million pound redevelopment of Arnison retail park in Durham, in a project managed by Sovereign Centros.
Next has recently opened its doors on a new 50,000-sq ft store, which follows openings of New Look and River Island in adjacent new units. This is in addition to the recent redevelopment of a 60,000-sq ft M&S flagship store, food and café hub, major frontage upgrades and general car park repairs.
Sovereign Centros director John Marsh said: “Our aim was to improve the tenant mix and increase the fashion offer at Arnison. Investing in and improving other units at the Park, as well as developing larger new units, means the whole scheme has a cohesive look and feel, creating an attractive environment for retailers and shoppers”.
The 286,000-sq ft retail park attracts more than 65,000 visits by car per week and is the largest asset within the CBRE UK Property PAIF.
Michael Ness, head of separate accounts EMEA at CBRE Global Investors, said: “This is an exciting time for Arnison and next year we will continue to fulfil our business plan by carrying out the second phase of the frontage refurbishment works.”
Wilkinson Williams and Savills advise Sovereign Centros and CBRE Global Investors.
