CoStar UK - The Leader in Commercial Property Information

TJ Hughes to anchor Dundee's Wellgate mall

By Paul Norman - Wednesday, May 16, 2018 10:38

TJ Hughes has signed to anchor the Wellgate Shopping Centre in Dundee, Scotland.

The Liverpool based discount department store which has been around since 1925 has agreed to a new 15-year lease on a 53,888 sq ft (5,006 sq m) shop, located at the main entrance to the centre.

The flagship letting follows a new lease agreement with the discount gym operator, Exercise4Less, which has taken 31,000 sq ft (2,880 sq m) on the second floor on a 12 year lease. It is anticipated Exercise 4 Less will be open for trade by the end of July 2018 and TJ Hughes by October.

Other retailers at Wellgate include B&M, Holland & Barrett, Home Bargains, New Look, The Entertainer and Subway.

Stuart Moncur, head of national retail at Savills, said: “Our strategy has been to secure new anchor occupiers, and with the arrival of both Xercise4Less and TJ Hughes, we certainly believe the Wellgate is on the up.

“TJ Hughes will occupy the former BHS store at the front of the Wellgate and will significantly improve the profile of the centre as well as drive substantial levels of footfall. We are excited about the prospects for Wellgate going forward and expect to have further new lettings to announce later in the year."

Richard Noble, managing director at FG Burnett which jointly advises the client at Wellgate with Savills, added: “Xercise4Less, which operates 52 gyms in the UK, is new entrant to Dundee that will drive footfall into the Centre. It will attract a different customer, including students, arriving at the gym from early morning until late evening.”

Savills advised the private landlord. TJ Hughes was advised by Tienda Property whilst CBRE advised Xercise4Less.

pnorman@costar.co.uk

Get in Touch
+44 203 205 4600