18th July 2019
MATALAN SIGNS AT ST GEORGE'S IN PRESTON
InfraRed Capital Partners and Sovereign Centros, InfraRed’s asset managers, have agreed a new letting with Matalan for a 26,000 sq ft store at St George’s Shopping Centre in Preston. The flagship store will replace nine underutilised units and provides a new anchor for the town’s main 284,000 sq ft shopping centre.
Keith Butcher, Director of Real Estate at InfaRed Capital Partners, commented: “Matalan is a great family brand, with 230 UK stores and 30 international franchise stores, plus a growing online channel. This store will complement our existing tenant mix and represents a major step forward in the ongoing strategy to increase the fashion and homeware offer at the centre”.
Antony Darbyshire, Director of Property at Matalan, said: “We are delighted with our plans for a new store at St George’s, which is due to open by late Autumn. We look forward to welcoming more customers from the Preston area and invite them to come and explore our product range.”
St George’s is located between Preston’s two main shopping streets Fishergate and Friargate. The centre has its own 400 space multi-storey car park accessed from Lune Street and radiates around a large circular glass-roofed rotunda, occupied by Costa Coffee. Tenants include H&M, M&S, New Look, River Island.
InfraRed remains committed to the ongoing improvement of St George’s and, alongside Sovereign Centros, is also creating a new 32,000 sq ft restaurant quarter at the shopping centre, comprised of 5 units. The development has received planning permission and construction has commenced.
Metis Real Estate Advisors and Barker Proudlove acted for InfraRed Capital Partners.