Swarovski to open at growing Queensgate as £60m mall expansion progresses
The ability of the UK’s key malls to attract top tenants was further illustrated on Friday when Peterborough’s Queensgate shopping centre said that high-end crystal jewellery brand Swarovski will open there this spring.
The 36-year-old mall hosts over 90 retail stores, attracting over 16 million shoppers annually and managers Lendlease and Invesco Real Estate are continuing to invest in upgrading the property to further boost its appeal at a hugely tough time for UK retail.
Refurbished most recently in 2015, Queensgate is currently seeing a £60 million spend on a 77,000 sq ft extension that will focus on leisure as much as retail and that will be anchored by entertainment brand Empire Cinema. The first phase of the extension is also being carried out in partnership with another anchor tenant John Lewis, which will be investing in its store there this year. The mall is also anchored by Primark.
So it’s understandable that brands are continuing to sign up there, despite the general trend in UK retail for chains to downsize their physical store presence.
The new Swarovski store covers 800 sq ft and will carry the brand’s classic collection of crystal jewellery alongside genuine gemstones and accessories. The Austrian brand currently has around 2,800 stores worldwide.
Guy Thomas, Head of Retail at Lendlease, highlighted the brand’s “strong heritage and global reach” and said these make it “a brilliant addition to Queensgate.”
Other jewellery brands at the mall include Pandora and Ernest Jones.
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