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Feb 04 2013

Nando’s new tenant at St George’s shopping center at Harrow

nandos_3Redefine International has signed Nando’s on a new 20 year lease at its St George’s Shopping Centre in Harrow. Nando’s has taken a 3,491 sq ft unit plus an additional 220 sq ft seating area at a rent of £82,000 per annum. The letting forms an important element of Redefine’s strategy to reposition St George’s Shopping Centre as Harrow town centre’s leisure and shopping destination of choice.

In order to achieve this strategy, Redefine is undertaking a number of asset management initiatives including light refurbishment and tenant reengineering to modernise the Centre and enhance the leisure offer, building on the existing appeal and footfall of the Vue Cinema which is already located in the Centre.

The recent successful planning applications for change of use to A3 (restaurants and cafe’s) around the centre’s Atrium has created the additional ‘casual dining’ space for customers and the letting to Nando’s (Unit 10/11 around the Atrium) as well as light refurbishment to create a more contemporary feel, is an important step towards delivering this. In parallel with this transaction, Redefine has secured Pizza Express on a new 25 year lease, subject to a tenant only break at year 15, at a rent of £79,300 p.a. Furthermore Redefine is in advanced negotiations to upsize another key restaurant, and has let the remaining ground floor atrium restaurant to another successful branded operator.

The refurbishment programme includes the creation of modern double height shop fronts, a new ceiling and lighting treatment, together with re-clad pilasters on the ground floor and the introduction of three new kiosks on the ground floor atrium area.

Source: Property Magazine International

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