The Metrocentre in Gateshead is opening a new hub for independent retail brands.
CGI of The Crescent at Metrocentre
Named ‘The Crescent’ due to the curved design of its storefronts, the 10,000 sq ft hub will comprise 10 retail units along with a central 500 sq ft café kiosk.
Asset manager Sovereign Centros from CBRE said the concept, set to launch in the second quarter of the year, has garnered significant interest from several emerging brands.
The white-boxed retail units will range from 180 sq ft to 800 sq ft, with flexible lease terms offering a lower barrier to entry and enabling independent and emerging brands an opportunity to trial space.
“Independent retail is not a new concept, but what sets Metrocentre apart is our ability to provide the right environment and bespoke support to help brands grow, with many independents successfully starting out in The Village before scaling up and moving into larger units elsewhere within the centre,” said Noah Knapton, asset manager at Sovereign Centros from CBRE.
“We’re creating a platform where more independents can thrive alongside established names, bringing fresh energy, creativity and choice to the centre, enhancing the overall experience for our visitors.”
Data from CACI highlights the strong pull of independent retail in driving visitor demand It found that 29% of people are more likely to visit destinations with more independent shops.
All leasing enquiries for The Crescent should be directed to Juliana Bentel from LM Real Estate and Oliver O‘Reilly from Time Retail Partners.
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