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Property Review

Principal Investment Portfolios

Retail

Out of Town Retail Warehouses Portfolio >
Meadowhall Shopping Centre, Sheffield >
Superstores Portfolio >
In-Town Retail Portfolio >

Meadowhall Shopping Centre, Sheffield

Value £1,430m 132,800 sq m (1,430,000 sq ft) retail Site area 68 hectares (167.3 acres, 57.7 acres undeveloped) 199 shop units, 10 anchor stores, 11 screen Warner Village cinema, 26 speciality kiosks, 20 mall kiosks 28 restaurants and cafes (including Oasis food court) seating for some 3,300 Up to 800,000 visitors per week at peak time Direct access to junction 34 of M1 motorway Free parking for over 12,000 vehicles On site transport interchange with bus, train and supertram services www.meadowhall.co.uk Freehold 100% owned Rent passing £72.2m pa Average rent (excluding M&S) £56.16 per sq ft Weighted average lease term including breaks 16.1 years, to expiry 16.7 years

Anchor stores: BHS Boots Debenhams H&M House of Fraser Marks & Spencer Next Sports Soccer WH Smith

Meadowhall is one of the largest and most successful shopping centres in the UK.

The two level, fully enclosed mall with excellent transport links continues to be attractive to both retailers and their customers. For multiple retailers at Meadowhall, 80% of the units are in the top 10 performing outlets of their company, and for 26% they are the retailers’ best performing outlet in the country.

Initiatives to benefit retailers and consumers include: the centre’s interactive customer loyalty scheme, now with 100,000 subscribers; an on-line gift buying service; further development of technology for effective communication, including the introduction of 20 plasma screens.

The accelerated response centre (ARC), provides on-site warehousing and stock replenishment facilities and is being expanded during 2005. In total 70 retailers have now used this facility. The Source, a training and development centre, receives over 60,000 visits per annum.

Meadowhall’s management has received more awards this year, including the British Council of Shopping Centres (BCSC) Merits award and the International Council of Shopping Centres (ICSC) productivity award for the ARC.

Rents passing are £72.2 million per annum and are expected to increase to £73.4 million per annum when outstanding rent reviews and lettings have been completed.