General News and Deals
Major Shopping Schemes Major shopping schemes in the south west are mounting a challenge to Cardiff’s premier league position among UK retail destinations. The £675m St David’s 2 project is predicted to take the Welsh capital into the top five shopping cities, rivalling Birmingham, Manchester and Leeds. But landmark schemes totalling more than £1bn in the south west aim to change a perception or the region as the ‘poor relation’ when it comes to retail investment, warns King Sturge. “St David’s 2 will provide 1.4 million sq ft of shopping space when combined with the existing St David’s Centre, consolidating Cardiff’s position as a top retail destination, “ said King Sturge partner, Stephen Jones, “but the landmark new schemes in Bristol, Bath, Exeter and Plymouth will bring increasing pressure to bear on Cardiff to provide state-of-the-art shopping.” He added: “St David’s 2 is providing the spur for shopping opportunities in the city, and established retailers are also rising to the challenge with refurbishments and new investment.” Mr Jones said the south west was starting to feel the benefit of a Millennium pledge to provide 5 million sq ft of retail space, with operators adapting to internet and supermarket competition and developers creating new and exciting shopping destinations. Drake Circus in Plymouth, the first major landmark in the region’s retail renaissance, has attracted more than 16m visitors in its first year. And last month the Land Securities Princesshay development opened in Exeter, previously labelled one of the worst examples of		‘clone town Britain’ because specialist shops were being squeezed out by big multiples and chain stores. Existing, big name stores in Exeter, like Next and New Look, have been improved, and new names such as Zara, Apple and Fat Face had arrived. An area had also been earmarked for smaller, independent stores. Bristol’s £500m Cabot Circus scheme, anchored by House of Fraser, opens next year, and will reflect a broad balance of national and regional operators. In 2009 the £350m SouthGate scheme will open in Bath, creating another major shopping destination. “The aim of all these new schemes is to provide a complete leisure experience which will attract today’s increasingly sophisticated shopper into town and city centres.” Mr Jones said. In central Cardiff, some retailers are investing in improvements, including Topshop/Topman relocating to the former Curry’s, and Dorothy Perkins moving from Queens West to the Dominions Arcade entrance on Queen Street. King Sturge has completed seven new shopping deals at Queen Street and Mermaid Quay. Orange Retail has relocated in Queen Street, with a new Spar moving into its former premises. At 70 Queen Street, Carphone Warehouse has taken a new 15-year lease. Bravissimo is opening its first South Wales store at Queens Arcade, also the location for a Tony Pryce Sports shop. Debonair dry cleaners has leased 3 Dominions Arcade, Queen Street, for 10 years. Two new restaurants – Café Rouge Restaurants Ltd and Strada – have taken 20-year leases at Mermaid Quay, in Cardiff Bay.