Meadowhall grows footfall and sales
Meadowhall's joint owner London & Stamford said yesterday that the shopping centre continued to outperform the market and grow sales in spite of the challenging retail market.
Footfall in the centre has grown by 2.7% in the year to date and sales have increased by 1.4%. London & Stamford said this represented a “significant outperformance against the national average”.
The landlord said Meadowhall was now 97% occupied. 16 new leases have been completed since the beginning of April and contracts exchanged on a further four. Recent openings include Boux Avenue and Fashion Rocks and new lettings include Van Mildert, Beaverbrooks, Krispy Kreme and Vans.
The £7 million refurbishment of the centre’s Oasis Food Court is now halfway through its programme and on schedule to complete in October ahead of budget.
London & Stamford chief executive Patrick Vaughan said: “London & Stamford remains committed to identifying and making investments with the potential to deliver strong, sustainable income, whilst adding shareholder value through the implementation of asset management initiatives and achieving good returns on asset disposals where we consider it appropriate.”
He added that the company was continuing to assess new opportunities within the retail and other markets and hoped to make further material investment during this financial year.
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