In the two years since Ellandi bought Blaydon Shopping Centre in a JV partnership with Lonestar, the scheme has moved full steam ahead.
The opening of the new Morrisons superstore in 2014 coupled with Ellandi’s asset management skills and close working relationship with agents Barker Proudlove, has seen the scheme go from strength to strength.
The trading success of Morrisons since opening has attracted new national and regional retailers to the Centre including Specsavers, Costa Coffee, Subway, Dominoes, Boyes and Shoe Zone, firmly establishing it as a successful community shopping centre.
Jonathan Robson, Director Asset Management at Ellandi commented "When we first took on the scheme, Morrisons had newly opened and there was some speculation as to how this would affect other parts of the Centre.
However we’ve managed to capitalise on the success of Morrisons, attracting new retailers complementing the existing tenant mix which has resulted in rental growth across the Centre. The main part of the scheme now being fully let and annual footfall is more than 5 million. Blaydon is now a thriving Community Centre based not only on its strong retail line up but also the presence of important community facilities including a library and doctors surgery”.