Orchard Street signs Debenhams at Three Spires Shopping Centre, Lichfield
Orchard Street Investment Management has agreed a 20 year lease with Debenhams Properties Limited for a 43,000 square foot store at the Three Spires Shopping Centre, Lichfield.
The premises, previously occupied by TJ Hughes before its administration in June 2011, will operate as a Debenhams department store, with work beginning on site towards the end of October. The store is expected to open in March 2013.
Located in the centre of Lichfield, Three Spires, a 180,000 sq ft, pedestrianised shopping centre, is the prime retail offering in the city, with over 40 top brands including M&S Simply Food, Argos and WHSmith.
Phillip Rodger, head of asset management at Orchard Street, says: ‘Naturally we are delighted to have secured Debenhams’ commitment to Three Spires and Lichfield, providing a much needed boost for the centre as well as the city and the surrounding area.
“This is the first step in our plan to improve the quality and depth of the retail offer at Three Spires and we will continue to focus on bringing in new and interesting retailers to provide a diverse retail offering for the local community. We consider Debenhams a great addition to the retail mix of the centre.”
Gareth Dougherty, acquisitions manager at Debenhams, adds: “Lichfield has been on our radar for some time now, with its geographical location and demographic profile, making it an attractive location for Debenhams.
“The unit provides us with the ideal opportunity to open a full line department store within Three Spires Shopping Centre and will house an extensive, exclusive offer with our Designers at Debenhams range.”
Orchard Street was advised by Cushman & Wakefield and Rowley Hughes Thompson. Debenhams was advised by Lunson Michenall.
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