Out of Town Retail

Meadowhall

Meadowhall, internal mall

External view

Meadowhall continues to be one of the largest and most successful shopping centres in the UK – a prime super-regional centre in a densely populated catchment area.

The two level, fully enclosed mall with excellent transport links is attractive to both retailers and customers, with 19 retailers new to Meadowhall having taken space over the last year.

Existing retailers are also performing strongly with New Look joining Next and Topshop in relocating their stores to double their space to 34,000 sq ft. Elsewhere in the scheme Abercrombie and Fitch (trading as Hollister), Yo! Sushi and Kurt Geiger have taken new leases further enhancing the retail mix.

The redevelopment of the upper level food court is also now complete with the addition of five new full service restaurants all of which are let or under offer. This has enabled Meadowhall to improve its quality catering offer with the addition of the likes of
Zizzi and Coal.

In keeping with the new retailers, the Centre has completed a comprehensive re-branding process to inject a fresh, contemporary and more aspirational creative identity, giving Meadowhall even more customer appeal.

Working with other landlords and retailers, Meadowhall has also pioneered a service charge saving initiative to deliver budgeted savings of some 20% per annum, reducing service charge operational costs by over £2 million per annum.

Meadowhall continues to build on its range of environmental initiatives; following on from the installation of rainwater harvesting tanks, a bore hole has now been established to replenish the tanks during periods of low rainfall. It is estimated
that this will result in a saving in water consumption of 75%.

Building on the success of the centre, a number of awards have been won this year:-

The Sheffield Telegraph Environment Awards 2008 - in recognition of the energy and waste management systems
Business in the Community Big Tick Awards 2008 - for energy efficiency and waste management
Business in the Community Awards 2008 – for the employability programme run by The Source
Business in the Community Active Communities Award 2009 – for The Source
Business in the Community Education Award 2009 – for the schools programme at The Source
CIPD Learning and Development Award Finalist 2008 – for The Source
BCSC Purple Apple Marketing Award 2008 – for the “Wow campaign”
Act Travelwise “Commuter Friendly Workplace of the Year 2008”

Meadowhall has also been put forward for a Pan-European award for workplace mobility, recognising the unrivalled choice and commitment to public transport at the
centre.

The multi award winning Source at Meadowhall (which provides training, developments and conference services) has now established itself as a regional Skills Academy for retail, linking up with a national network. The Source has also been recognised in The Sunday Times top 100 companies to work for, achieving 17th position in the rankings.

Facts and figures

British Land's share £573 million
Total value £1,145 million
1.5m sq ft retail and leisure
Site area 191 acres
(of which 74 acres undeveloped)
213 shop units, 11 anchor stores, 11 screen Warner Village cinema, 24 speciality kiosks, 30 mall kiosks
33 restaurants and cafes (including Oasis food court) seating for some 3,300
25 million customers per annum – 800,000 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
50% owned
Rent passing, British Land's share £36m pa
Average rent £56.90 per sq ft
Weighted average lease term including breaks 12.0 years

Anchor Stores

BHS
Boots
Debenhams
H&M
House of Fraser
Marks & Spencer
New Look
Next
Primark
Topshop / Topman
WH Smith

As at 31 March 2009