Gateshead, The Metrocentre

Retail Asset Management | Sovereign Centros
Asset management of the 2nd largest shopping centre in the UK. Sovereign Centros are working with the Metrocentre Partnership to implement a vigorous new business plan.
  • 2.1 million sq ft of lettable space across the Metrocentre (UK’s second largest shopping centre) and Metro Retail Park
  • 400 stores anchored by Primark, Marks & Spencer, Frasers
  • 10,000 car parking spaces and 20 million visitors annually

Business Plan & Achievements

Following the demise of intu, Sovereign Centros have been appointed the Asset Managers on behalf of the Metrocentre Partnership to implement a new business plan for the shopping centre and retail park.

The focus of the plan is a proactive leasing campaign, upsizing of existing successful traders and reconfiguration/repositioning of certain key areas of the centre, introducing a new mix of uses to build on the dominant brand which the centre commands.

Recent lettings include Next Beauty and Home store, Sky’s new concept store and the world famous Hamleys toy store.

A refreshed marketing strategy and rebranding process for the asset in progress and due for completion in Q2 2021.