TJ HUGHES TO ANCHOR DUNDEE’S WELLGATE
A brand new department store is heading to Dundee’s Wellgate.
On behalf of a private investor, Savills has secured a letting to TJ Hughes.
The Liverpool based discount department store, which has been in existence since 1925, has agreed to a new 15-year lease on a 53,888 sq ft (5,006 sq m) retail unit, located at the main entrance to the centre. The flagship letting comes quickly on the back of agreeing a new lease with the discount gym operator, Xercise4Less, which has taken 31,000 sq ft (2,880 sq m) on the second floor on a 12 year lease. It is anticipated Exercise 4 Less will be open for trade by the end of July 2018 and TJ Hughes by October.
Other retailers at Wellgate include B&M, Holland & Barrett, Home Bargains, New Look, The Entertainer and Subway.
Stuart Moncur, head of national retail at Savills, comments: “Our strategy has been to secure new anchor occupiers, and with the arrival of both Xercise4Less and TJ Hughes, we certainly believe the Wellgate is on the up.”
“TJ Hughes will occupy the former BHS store at the front of the Wellgate and will significantly improve the profile of the centre as well as drive substantial levels of footfall. We are excited about the prospects for Wellgate going forward and expect to have further new lettings to announce later in the year”.
Richard Noble, managing director at FG Burnett which jointly advises the client at Wellgate with Savills, adds: “Xercise4Less, which operates 52 gyms in the UK, is new entrant to Dundee that will drive footfall into the Centre. It will attract a different customer, including students, arriving at the gym from early morning until late evening.”
TJ Hughes was advised by Tienda Property whilst CBRE advised Xercise4Less.
Savills UK retail and leisure agency team is more than 80-strong, operating from a network of offices in London, Bristol, Edinburgh, Glasgow, Manchester and Leeds. The firm advises landlords and occupiers in shopping centre, high street, retail park and outlet centre locations across the UK, with instructions totalling circa 43.5 million sq ft.
Peter Aitken, Manager, Wellgate said, “We are absolutely delighted to welcome T J Hughes to Wellgate, which we believe will play a pivotol role in the Centre’s ongoing development. Not only will this national department store reinvigorate the centre but also provide a catalyst for other businesses to invest within the centre.”
“The news is especially significant in light of the imminent opening of the Xercise4Less gym – together, these new tenants will enliven both entrances to the centre and generate a significant increase in footfall.”