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Sixty premium tenants sought for former Pallasades

Sixty premium tenants sought for former Pallasades

🕔17.Sep 2012

Work has begun to find tenants for 60 premium fashion and food outlets at the Pallasades shopping centre, which is to be re-built and named Grand Central Birmingham.

City council leaders are confident of securing the majority of tenants next year in time for the new-look centre, anchored by the largest John Lewis department store outside of London, to open in September 2014.

The council cabinet agreed a leasing strategy for Grand Central, which will sit above the £600 million redeveloped New Street Station.

A total of 500,000 square feet of shopping space will be created, including many high-end retail brands not currently available in Birmingham.

Grand Central will form the final part of a golden triangle of shopping excellence, with improved pedestrian access to the Bullring and Mailbox centres.

The former Pallasades is expected to have one of the highest footfalls for any retail centre in the country, boosted by millions of passengers using New Street station each year.

Demand for further retail development is expected to soar if the HS2 high speed rail terminal at Curzon Street is built by 2026 as planned, reinforcing Birmingham’s position as the biggest shopping centre outside of London.

Grand Central is expected to welcome 50 million visitors a year, according to the council which stands to make a long term profit having bought the run-down Pallasades two years ago in order to speed up redevelopment of New Street Station.

Keith Stone, leasing director for Grand Central, said: “Birmingham doesn’t currently have a centrally located shopping destination for premium fashion brands such as can be found in other major UK cities. Grand Central will now fulfil this demand within the city.  We have already had a great response from the retailers we have spoken with.”

City council leader Sir Albert Bore said: “We look forward to Grand Central Birmingham becoming a key element of the city’s ever-improving retail landscape, and welcome John Lewis and the retail offer this will bring.

“We’ve seen already the economic and wider benefits that the New Street regeneration project will deliver for Birmingham and it’s really exciting to see this project continuing to come to life, further strengthening the city’s position as a leading major retail destination in the UK.”

Network Rail, the city council’s New Street development partner, said the name Grand Central was a commentary on the city’s rich railway history and denoted the “next exciting chapter in shopping opportunities in the West Midlands”.

 

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