Nov 17, 2016
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British Land buys Drake Circus, Footasylum opens first southwest store there

Nov 17, 2016

Property giant British Land has acquired the 10-year-old Drake Circus Shopping Centre in Plymouth for £67m with the company expecting to get £5m a year in rent from the mall.

Drake Circus has a long waiting list but little available space - Photo: Archive

Drake Circus is just one of British land’s properties in the south coast city and joins the Brentonside area where it is planning a £40m leisure complex.

The mall includes stores such as Debenhams, House of Fraser, Boux Avenue, H&M, Next, Oasis and Primark.

The company said it is working out how its ownership of “a broad slice” of the city centre can be used to create a “more accessible and attractive place for local people to shop, eat and be entertained”.

The Drake Centre, which covers 4.65 acres, was acquire from M&G Real Estate and has 583,700sq ft of shop space.

Earlier this month Footasylum opened at the mall offering a wide range of sports and fashion brands including Nike, Adidas, Vans, Converse, Puma, Dr Martens, Asics, Calvin Klein and Fred Perry. It also sells menswear and womenswear in the store plus accessories and lesser known brands such as 11 Degrees and Sik Silk.

The opening is a key one for the brand that had 50 stores across the UK but none in the southwest. The store is located in an upper deck position on a site previously occupied by Jones Bootmaker.

At the time the mall’s management said it has a long waiting list of brands waiting to take space but a shortage of available units.

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