Moorfield Group will start reconfiguration works this month at Capitol Shopping Centre in Cardiff to create space for two new anchors, Tesco and easyGym.
Tesco has taken an 11,590 sq ft ground floor unit on a 20 year lease, and will pay £250,000 per year for the store, which will be fitted as a Tesco Metro.
Low-cost membership fitness centre group easyGym has taken a 17,500 sq ft first floor unit overlooking Queen Street, which is its third opening in the UK. It will pay a rent of £140,000 per year on a 20 year lease.
Both are due to open in the Autumn of this year,
Caffe Nero has also signed a 10 year lease for a 1,500 sq ft store fronting Queen Street. The coffee shop chain will pay a £50,000 rent per annum and is due to begin their fit out at the start May.
Mark Holmes of Moorfield Group, the investment and asset manager of the Moorfield Real Estate Fund (MREF) which owns the centre, said: “These anchors will help to drive footfall and broaden the appeal of the centre.
“Capitol Shopping Centre also benefits from the significant footfall from Queen Street railway station which is about to undergo a refurbishment including additional platforms to accommodate over 4 million users each year.”
Capitol Shopping Centre was acquired by MREF in November 2005 and is managed by Plus Shops Retail Ltd.
Kitchen La Frenais Morgan and Macarthur Wilson acted for Moorfield Group, EJ Hales advised Tesco and Lyndon Yeomans represented easyGym.