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Two Lettings at Merrion Centre, Leeds

24 February, 2009

Town Centre Securities' Merrion Centre development in Leeds has secured two high profile retail tenants in just two months.

In line with the retailer's expansion plans, Ethel Austin has taken 3,611sq ft on a five-year lease. This deal comes just weeks after Home Bargains signed a 15 year lease deal to take the 15,158sq ft former Woolworths store on an annual rent of £231,250. Ethel Austin is due to open in early March, with Home Bargains launching the following month. Hartnell Taylor Cook LLP represented Ethel Austin and Bennett advised Home Bargains.  Savills represented Town Centre Securities on both deals.

The Merrion Centre is one of Leeds' most successful retail schemes and, with almost 200,000 visitors per week totalling over 10 million per year, has the heaviest footfall of any shopping centre in the city core. A comprehensive refurbishment programme is well underway at the centre in line with the developer's proactive asset management strategy to upgrade and improve the retail offer. In the last 3 years, over half of the 90 shop units have had new fit-outs.

Of the total 400,000sq ft of retail and leisure space at the Merrion Centre, just 6,500sq ft now remains available to let over 5 units, indicating the continued success of the transformational island site development which is home to numerous reputable brands such as Morrisons, Sainsbury's, Boots, O2 and Costa Coffee.

Helen Beckett from Town Centre Securities says; "The Merrion Centre is continually evolving and these latest lettings will undoubtedly complement the existing tenant mix and subsequently further increase footfall at the centre. Our commitment to delivering the long-term refurbishment programme at the Merrion Centre, along with the scheme's strategic positioning and unrivalled footfall, is evident in the centre's continued success."