Middlesbrough Shopping Centre achieves 100% occupancy
23 November 2015
A Middlesbrough shopping centre has achieved 100% occupancy with the letting of three units to new tenants by leading independent Teesside commercial property agent, Dodds Brown LLP.
All 20 retail units at the town’s Dundas Shopping Centre are now occupied. This is in contrast with vacancy rates for retail units nationally and in the North East which stand at 11.7%* and 16.4%* respectively.
The new retailers are: The Mattress Outlet, selling beds and mattresses, which has taken a new lease on Unit 8; independent, alternative clothes retailer Kindamagik which has relocated into Unit 31 from Corporation Road; and jewellery gifts and accessories retailer Diamond Heaven which has moved from Captain Cook Square into larger premises at 43 Dundas Street, the former Early Learning Centre.
Bernie Sowa, Owner of Diamond Heaven, said: “We are really excited to be relocating the business to a bigger store at Dundas Street and are looking forward to operating alongside other independent businesses as well as the national retailers. The larger store will allow us to offer customers a unique and luxury shopping experience with an extended gift range, new jewellery lines and accessories just in time for Christmas shopping.
Richard Wilson, Senior Associate Partner at Dodds Brown acts as letting and managing agent for the Dundas Shopping Centre for centre owner Contract Experts Ltd. He said: “Achieving 100% occupancy at the Dundas Shopping Centre is a remarkable achievement, especially in the context of rates of vacant units elsewhere.
“Town Centre retail in general has had a difficult few years with a reduction in the number of requirements from national retailers. As a result we have focused our letting strategy on attracting good quality independent, local retailers and offering competitive lease terms and this has paid off.”
The lettings follow a £100,000 revamp last year of the Dundas Market within the Dundas Shopping Centre which saw a rebrand, new signage and a reconfiguration to create more units and improve circulation.
Christian Lax of Contract Experts Limited said: “Working closely with Dodds Brown, and through our investment programme, we have strived to attract more retailers into the Dundas Centre, and I am delighted that this has paid off with our new tenants and 100% occupancy.”
There are still a number of small units still available within Dundas Indoor Market, from Dodds Brown. Further information is available from Richard Wilson at Dodds Brown on tel. 01642 244130.
New and expanding retailers to the town, can now benefit from a 50% discount on business rates for 18 months and a grant of up to £5,000 (based on rateable value) for assistance with fixtures, fittings, security, signage and refurbishment costs.
*source Local Data Company