Leeds

Key Facts

Total floorspace: 1.5 million sq ft (142,020 sq m)

Missing retailers in central Leeds: Dolcis, Wallis, John Lewis, Timberland, Mango, Soletrader, Lakeland, Pink, Viyella

Top five under-sized retailers in central Leeds: House of Fraser (-65,209 sq ft), Marks & Spencer (-48,227 sq ft), Debenhams (-44,594 sq ft), Wilkinson (-17,467 sq ft), Next (-14,332 sq ft)

Top five centres that share the central Leeds total catchment: Bradford (10 per cent), Wakefield (8 per cent), White Rose Shopping Centre (7 per cent), Forster Square Retail Park (5 per cent), Huddersfield (4 per cent)

Area of highest rental growth over the past five years: Briggate (8.2 per cent)

Average rental growth over the past five years: 4.1 per cent

Latest deals: Sainsbury’s pre-let a unit at Broad Gate, Tesco Express signed for Clarence Dock Retail and M&S landed a space on Guiseley Retail Park

New developments: Clarence Dock Retail (8.2 per cent), measuring 370,000 sq ft (34,375 sq m), was due to open this month. Broad Gate will offer 120,00 sq ft (1,115 sq m) when completed in April. The Eastgate & Harewood Quarter, measuring 175,000 sq ft (16,260 sq m), will open in 2012

Footfall index: January 2006, 100; July 2007, 89

Source: Experian/rental data from Churston Heard

Shopping facilities in Leeds are undergoing a facelift, with a quartet of developments expanding the northern city’s retail space to bring it in line with Manchester and Liverpool.

Hammerson and Town Centre Securities were given the green light for their 1.5 million sq ft (139,350 sq m) Eastgate & Harewood Quarter scheme in the city earlier this year. The development will be anchored by a 260,000 sq ft (24,154 sq m) John Lewis and will bring an additional 100 retail units, as well as restaurants, bars and 2,700 car parking spaces. However the scheme is not scheduled to open until 2012.

Land Securities and Universities Superannuation Scheme, owner of the Trinity Quarter, have joined forces to extend Leeds Shopping Plaza by more than 300,000 sq ft (27,870 sq m), taking the covered shopping centre to nearly 1 million sq ft (92,900 sq m). The site is adjacent to Trinity Quarter, which is being modernised. The partnership will create a huge and cohesive shopping area in the city.

The Leeds Shopping Plaza project is due to be completed in 2010 and will be anchored by Marks & Spencer. The chain has a store in the centre already, but will reconfigure its space as part of the overhaul.

Fawley Watson Booth associate Julie Fawley says Leeds lacks modern, large-format spaces. “Debenhams is undersized and House of Fraser has a very small store,” she says. “A lot of retailers will want to relocate to larger units. The Trinity scheme has smaller unit shops, because it is dealing with restricted boundaries, but Hammerson is developing really big footprints. Trinity is arguably a prime location though because of its existing retailers.”

In addition, the Eastgate & Harewood Quarter development will extend Leeds shopping east and “anchor that end of town”, according to Fawley.

“For the size of the city, Leeds hasn’t got a lot of shopping and existing units are very compromised on size. But Commercial Street and Briggate in the heart of the city will remain quite strong. Retailers could have at least two stores or maybe three in Leeds. Carphone Warehouse and Pret A Manger have now taken second sites,” she adds.

Separately, Capital & Counties is redeveloping the former Allders store on Headrow at the top of Briggate, the city’s prime shopping street. The site is being reconfigured into a small number of large-sized units and TK Maxx and Sainsbury’s have both signed. The opening of Primark at the bottom of Headrow has boosted footfall significantly already.

Crosby Group is developing a scheme in Clarence Dock and although this is mainly residential, the company is hoping to create a destination shopping experience there.

The lack of good-sized units in Leeds has helped drive prime rents up to£320-plus and there remains a list of retailers on the hunt for sites in the city. Both H&M and Inditex want large units for their fashion brands, while the likes of Jimmy Choo and Tiffany want to join other upmarket retailers in the Victoria Quarter. Paul Smith is due to open imminently and luxury brand Louis Vuitton opened there last year.

Fawley says there are some voids in lesser centres, such as St Johns and Merrion, and in the more compromised units around Briggate, but adds: “There is a very healthy turnover of retailers in Leeds.”

Demographics

Population 5 million

Total retail spend£17.87 billion

Weighted shopper population 599,277

Index of population with internet access 89

Cars per household 0.96

Annual gross household income£27,062

Most over-represented occupation Process plant and machine operatives

Most over-represented age band 15-24

Source: Experian