H & M Entertains in Eastleigh
Posted by Ellandi on 7th Jan 2016
Community Shopping Centre investors
Ellandi have completed a landmark deal to bring leading international fashion
retailer H & M to the Swan Shopping Centre, Eastleigh. The tenant has
entered into a 15 year lease for a new anchor store of over 17,000 sq ft being created
on the site of the old food court.
This news follows on the recent
handover of a 4,700sq ft store to children’s toys favourite The Entertainer.
Alex Brooker, Asset Management Director
at Ellandi commented “This letting is a game changer for the scheme and the
wider town, showing that with a bit of creative asset management, larger units
can be created to attract major international brands to Community Shopping
“The scheme now has real momentum following
these new lettings with a number of national fashion retailers considering the
only remaining vacant unit in the heart of the Centre."
The creation of the new H&M store
will be the largest investment in the scheme since the leisure extension was
completed less than seven years ago.
MP for Eastleigh Mims Davies commented “The
mix and variety in Eastleigh at the Swan Centre is strong and the new H&M
store makes that offer even stronger. All too often in our area shops are
locating in out of town locations rather than contributing to a vibrant town
centre. I am pleased that this new store will bring more jobs and more business
activity to the Swan Centre.”
The Swan Centre was purchased in a
joint venture with Tristan Capital Partners in 2013. Since then, a £3m
investment has facilitated a number of changes within the scheme to make way
for the retailer.
These include the relocation of
Boswell’s coffee shop & Trespass and the creation of a new lift and
staircase. In addition, the centre management office will be repositioned into
a currently void space.
Once in possession of the unit, H&M
will create a double height glazed frontage, creating approximately 30 new jobs,
in addition to 10 new jobs at The Entertainer.