Press release - RDI REIT · Press release . 29 July 2020 . RDI creates new store for H&M to expand...
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Press release 29 July 2020 RDI creates new store for H&M to expand its presence at St. George’s shopping centre, Harrow RDI, the income-focused UK REIT, announces that it has signed a 10 year lease with H&M for a new 9,500 sq ft unit at St. George’s shopping centre in Harrow, north west London. 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. 7,700 sq 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.” -ENDS-
Transcript of Press release - RDI REIT · Press release . 29 July 2020 . RDI creates new store for H&M to expand...
Press release
29 July 2020
RDI creates new store for H&M to expand its presence at St. George’s shopping centre, Harrow
RDI, the income-focused UK REIT, announces that it has signed a 10 year lease with H&M for a new 9,500 sq ft unit at St. George’s shopping centre in Harrow, north west London.
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. 7,700 sq 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.”
-ENDS-
For further information: FTI Consulting UK Public Relations Adviser Dido Laurimore, Claire Turvey, Ellie Sweeney [email protected]
Tel: +44 (0) 20 3727 1000
Instinctif Partners SA Public Relations Adviser Frederic Cornet [email protected]
Tel: +27 (0) 11 447 3030
Note to editors: About RDI RDI is an income focused UK-REIT with a diversified portfolio invested principally in the UK. The investment approach is driven by an in depth understanding of occupational demand including the impact of technology, transport and infrastructure investment. The portfolio has been repositioned in recent years to increase its weighting to London and the South East and to provide greater exposure to our leading hotel and serviced office operating platforms. RDI is committed to delivering attractive income led total returns across the real estate cycle. The current strategic objectives of a lower leverage capital structure and more focused allocation of capital are targeted at delivering an industry leading and sustainable income return. RDI is a UK Real Estate Investment Trust (UK-REIT) and holds a primary listing on the London Stock Exchange and a secondary listing on the JSE. The Company is included within the EPRA, GPR, JSE All Property and JSE Tradeable Property indices.
For more information on RDI, please refer to the Company's website www.rdireit.com
