TCS Announce 40 Woodhouse Lane, Leeds Retail Deal
Town Centre Securities PLC are please to announce the letting of 40 Woodhouse Lane, Leeds to Shared Earth Ltd. This announcement marks the latest in an impressive number of successful new lettings at the Merrion Shopping Centre.
The ground floor (sales) area of the property covers 1,474 sq ft (136.93 sq m), with a first floor storage area of 844 sq ft (78.41 sq m). The lease is for 10 years, with a rent of £47,500 per annum exclusive.
Helen Beckett of TCS said of this letting; “After 10 years of successful trading at the Merrion Centre we are delighted to work with Shared Earth on their Leeds expansion plans. The investment that we have made in the new elevation at Woodhouse Lane is proving to be really popular with tenants and customers alike. Shared Earth will be joining recent new tenants Wilkinsons and Nevisport.”
Jeremy Piercy of Shared Earth commented; “Shared Earth is excited to be taking on the lease of 40 Woodhouse Lane and looking forward to the opportunities that this new premises presents. Shared Earth is currently bucking the retail trend and sales are 6% up on last year and also 6% up from April – June 2008 across the board. The reasons behind an increase in the sales of Fair Trade products partly stems from this increased interest in ethical and sustainable living. People want to buy products that also give them a ‘feel good factor’. With the first Fair Trade franchise package launched nationally, Shared Earth is capable of doubling the sales of non-food Fair Trade products through franchising their business model. To see progress on the new Leeds shop as it develops visit www.sharedearthnewsandmedia.co.uk”
A spokesperson from Savills, the landlord’s agents, said; “We are please to have agreed terms with Shared Earth due to open in August 2008. This leaves one remaining unit within this first phase of the redevelopment proposals, where we already have several expressions of interest from national and regional retailers. It is very positive for the Merrion Centre.”