Schroder Property welcomes Debenhams to The Coliseum Shopping Park, Chester
Schroder Property is today pleased to announce that on behalf of its client it has exchanged contracts with Debenhams to let a new 60,000 sq ft flagship department store at The Coliseum Shopping Park in Chester. The new store is part of Debenhams’ strategy for securing the ‘right store in the right location’.
This new Department Store will complement the existing Browns store in Chester City Centre, which is currently undergoing a multi million pound refurbishment. This move will also further strengthen Debenhams’s foothold in the Chester/Wirral area. The store will comprise 30,000 sq ft at ground floor with a 30,000 sq ft mezzanine offering the full ‘Designers at Debenhams’ range. Schroder Property will now make a planning application to Cheshire West and Chester Council for the additional floorspace and adaption of existing units with a store opening date of 2013/early 2014.
The Coliseum Shopping Park is a 150,000 sq ft open A1 (non-food) retail and shopping park located on Junction 10 of the M53 Motorway, approximately 10 miles from Chester. It is situated between the Cheshire Oaks Designer Outlet and The Coliseum Leisure Park. The location is set to improve further with the adjacent new 195,000 sq ft flagship M&S store, the largest built by M&S in over 10 years, that is due to open this August.
Nick Montgomery, Fund Manager, Schroder Property commented:
“This is major step forward with our strategy to re-position The Coliseum Shopping Park as a high quality, fashion-led destination, and follows the significant recent lettings to H&M and Next. We look forward to working with the Council and with Debenhams to ensure the continued success of the park”.
Rob Hadfield, Head of Property, Debenhams commented:
“We are delighted to bring Debenhams and its Designers to The Coliseum Shopping Park. This store represents a landmark for Debenhams illustrating flexibility with our formats to reflect a truly multi channel retailer at the same time as making significant investment in our existing Chester City Centre store.”
McMullen Wilson and CBRE acted for Schroder Property and Anderson Harkins Ltd acted for Debenhams.
For further information, please contact: Nick Montgomery, Schroder Property, +44 (0)20 7658 6000 Estelle Bibby, Institutional and Property PR, +44 (0)20 7658 firstname.lastname@example.org
Note to Editors:
For trade press only
Schroders has managed property funds since 1971 and has £9.6 billion (EUR 11.5 billion / US$14.9 billion) of gross property assets under management (at 31 December 2011) and has around 90 property staff located in 9 offices across the UK and Europe.
All of the property funds referred to are unauthorised collective investment schemes as defined in the Financial Services and Markets Act 2000. Promotion of these funds is restricted and access to full information about these funds is only available to those exempt from the restriction.
For further information about Schroders’ property business visit www.schroderproperty.com
Schroders is a global asset management company with billion £187.3bn (€224.2 billion, $291.0 billion) under management (at 31 December, 2011). Our clients are major financial institutions including pension funds, banks and insurance companies, local and public authorities, governments, charities, high net worth individuals and retail investors.
Schroder Property Investment Management Limited and Schroder Investment Management Limited are authorised and regulated by the Financial Services Authority.
Issued by Schroder Property Investment Management Limited. Registration no. 1188240 England.