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Waterstones

Waterstones

Having acted for Waterstones over the last few years and completed the disposal of their leases in Ludgate Circus, London; The Swan Centre, Eastleigh and New Street, Birmingham; Metis have acted recently on their behalf in securing two high profile relocations in Meadowhall and Trafford Centre.

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Meadowhall

Meadowhall, is Yorkshire’s super-regional shopping centre which provides 1.5 million sq ft of high quality retail and leisure space to around 280 occupiers.

Waterstones historically traded from two undersized stores, on Park Lane and The Arcade in Meadowhall, Yorkshire’s 1.5m sq ft super-regional retail/leisure scheme. With several years remaining on existing overrented leases acting on Waterstones’ behalf Metis negotiated the surrender of the Park Lane lease simultaneously with agreeing the upsize of The Arcade store. The result was to reduce total occupational costs in Meadowhall by over 47% and leave Waterstones trading from a single, refitted 4,900 sq ft store in a newly refurbished mall.

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Trafford

Trafford Centre is located to the west of Manchester and provides approximately 1.95million sq ft of high quality retail and leisure space with over 200 occupiers including Selfridges, John Lewis, M&S, Boots etc.  

Waterstones occupied an oversized store of c. 9,000 sq ft in 100% prime pitch where total occupational costs resulted in a loss-making store. Metis acted on behalf of Waterstones to negotiate a relocation to a unit of c. 7,000 sq ft reducing their total occupational costs by over 50% creating a profit making store.