Income-focused UK REIT RDI has announced that it has signed a 10-year lease with H&M for a new 9,500sq ft unit at St. George’s shopping centre in Harrow.
H&M’s new adult clothing store will see the international retailer expanding its presence at St. George’s, where it already operates a children’s store from a separate, c. 7,700sq ft unit to which it has just recommitted for a further 10 years. Preparation works for H&M’s new store are already underway and is scheduled to be ready to welcome customers by late summer 2021.
H&M’s extended commitment to St. George’s follows a recent lease regear with Vue Cinemas, a key anchor tenant at the centre that has recently refurbished its 12-screen venue and agreed to a new 20-year term commencing at the beginning of this year. Both occupiers serve to strengthen the offering at St. George’s, which is now let to a diverse mix of retail, dining and leisure occupiers.
Adrian Horsburgh, Property Director at RDI, commented: “That H&M have chosen to increase their presence at the scheme in what is a very challenging retail environment is an endorsement of the offer we have created at St George’s. It is particularly pleasing that both H&M and Vue have committed to the centre and this success is a credit to our asset management team who have worked tirelessly to eliminate voids across the portfolio and ensure high footfall levels can continue to be enjoyed at our assets.”
