Regent Arcade Races Ahead in Cheltenham
Posted on: March 10, 2016
The New Year has got off to a flying start for the Regent Arcade Cheltenham with three new deals being announced and an increase in footfall. HMV is to take a new 4,000sqft unit whilst existing tenants Tiger and Soho Coffee have agreed new lease terms. Both recently invested in major refurbishments to give them a new look.
Regent Arcade is seeing high levels of letting activity and is going from strength to strength. In the past six months the shopping centre has let or reengineered ten deals which represents over 30,000 sqft or 15% of the available space. New arrivals were Carluccio’s, Smiggle, David Christopher and independent fashion store Love It. Work is currently underway to create a new flagship store for Topshop/Topman spanning over 14,000 sqft and due to open late 2016.
Scott Lahive, centre manager of the Regent Arcade: “Since 2009 we have been investing in the future of the Regent Arcade. We fully refurbished the mall and created a brand new Regency inspired frontage on the high street to accommodate three large new stores which provide much needed town centre space and brought the H & M brand to Cheltenham.
“A key part of our strategy was to reposition the centre and to attract new names to Cheltenham. This has paid off with the performance of all our new retailers being extremely encouraging.
“I am delighted that existing retailers continue to prosper and commit to the centre, Tiger have increased their sales whilst SOHO Coffee is doubling their seating capably to serve the growing demand. The town is undergoing major changes and the arrival of John Lewis in 2017 will heighten its profile even more.”
The shopping centre celebrated its 25th birthday in May 2015 but the redevelopment has rejuvenated the scheme demonstrating how the centre is able to cater for the needs of retailers new and old.
Kate Carlton senior surveyor for Cushman and Wakefield who manage the shopping centre said: “We have been involved with the Regent Arcade for over 12 years and the refreshed tenant mix provides a diverse offer for the people of Cheltenham and beyond. The town is a major regional shopping destination for the south west and the Regent Arcade is the only shopping centre in Cheltenham.
“Over the past two years we have witnessed an increase in footfall year on year and so far in 2016 customer numbers are up 5% and continuing to outperform other towns in the region.”
Plan are being devised for further enhancements with an announcement due later this year.
Categorised in: General news