Westfield signs up large retailers for Stratford site
Wednesday 05 May 2010
The Australian property company Westfield has found tenants to fill nearly two-thirds of the retail space at its £1.5bn new shopping centre at Stratford ahead of the 2012 London Olympics.
The developer, which also operates the Westfield London shopping centre in Shepherd's Bush, said large retailers including Primark, Next, H&M, River Island and the US fashion chain Forever 21 had signed up to the East London site, which is now "60 per cent leased or committed".
The 1.9 million sq ft Olympic shopping centre, which opens in 18 months' time, will have as its anchor tenants John Lewis and Waitrose, as well as Marks & Spencer and an all-digital Vue cinema. Michael Gutman, the managing director of Westfield UK and Europe, said: "I think off the back of the strength of how people are trading at Westfield London and given the dearth of new quality space that is available in the pipeline we seem to be making excellent progress."
Many shopping centres were shelved during recession. Westfield said it was monitoring potential schemes outside of London including its Bradford scheme which it put on hold in 2008. Westfield Stratford City will be served by eight Tube and overland train lines, helping to give it a catchment of 4 million people within 45 minutes.
The developer said that like-for-like sales on stores open more than one year at Westfield London were up by 16.5 per cent for the three months to 31 March 2010, which is well ahead of industry data for central London and the rest of the UK.
Mr Gutman said that footfall at the west London site jumped by 31 per cent over the May bank holiday, compared with last year. "We have reported some outstanding figures for the first quarter," Mr Gutman said.
- 1 Autistic adults could take pure MDMA to 'reduce social anxiety'
- 2 Natalie Portman tells Harvard graduates: 'Accept your lack of knowledge'
- 3 Before you complain about your GP, this is what you need to know about actually doing the job
- 4 Father of 12 accused of raping, beating, starving and abusing his own children in US 'cult'
- 5 Charlie Charlie Challenge explained: not a Mexican demon being summoned — it's gravity
People are criticising Fifa World Cup sponsors with corrupt corporate logos
Natalie Portman tells Harvard graduates: 'Accept your lack of knowledge'
University league tables: Best universities for teaching standards rank Oxford, Cambridge and Coventry among top 20
Fifa corruption live: Sebb Blatter warns 'more bad news may follow' as he clings to power
Skull found in Spain could be the world's first-ever murder victim
EU referendum: David Cameron's rules are a 'democratic disgrace', says French-born Scottish politician set to be denied a vote
The day that Britain resigned as a global power
SNP fury as HS2 finds 'no business case' for taking fast train service to Scotland
Australian man punched in the face for defending Muslim women from abuse on train
A nation of inequality: How the UK is failing to feed its most vulnerable people
EU referendum: David Cameron to deny EU migrants and under-18s the chance to vote
iJobs Money & Business
£30 - 35k: Guru Careers: We are seeking a Pricing Analyst to join a leading e-...
£20000 - £25000 per annum + OTE £45K YR1: SThree: At SThree, we like to be dif...
£20000 - £25000 per annum + competitive: SThree: Did you know? SThree is a mul...
£55 - 65k (DOE): Guru Careers: A unique opportunity for a permanent C# Develop...