With all the negative headlines it would be easy to believe that the retail sector has died and that the physical store is a thing of the past. However, at Lisnagelvin, Derry/Londonderry, 2020 has been a busy year with lettings and renewals despite the obvious hurdles of COVID and Brexit.
At the centre there have been a number of new openings and expansions including McAtamney’s flagship store, Toytown, and Poundland which have created over 60 jobs including construction works which is a real positive for the city. The centre has also welcomed Amazon Lockers and is one of the first centres in Northern Ireland to be chosen for them.
Andrew Murray of Cordatus said: “There is no doubt that the retail sector is facing challenging times and needs to adapt and reposition itself to current trends. At Lisnagelvin through working closely with the tenants and landlord investment in order to achieve this, we are delighted to have welcomed five new tenants to the centre as well as numerous renewals with both McAtamney’s and Poundland expanding in the centre.”
The landlord was advised by Cushman & Wakefield, Pinsent Masons and Johnston Houston.
Lisnagelvin Shopping Centre is a neighbourhood centre of 111,540 sqft with 487 free car parking spaces and anchored by a 24-hour Tesco superstore and petrol filling station and was bought by Cordatus Property Trust (CPT) in 2016.