H&M has signed a lease on a 27,000 sq ft two-storey unit in Poole’s Dolphin centre, a store previously occupied by BHS.
The Swedish fast fashion giant is being joined at the 530,000 sq ft centre – the largest covered shopping centre in Dorset – by sportswear retailer JD and kids lifestyle and stationery brand Smiggle who have also signed 10-year leases.
Anchored by Marks & Spencer, Primark and Beales department store, the Dolphin Centre attracts 11m in annual footfall and features 100 retailers, brands and restaurants. It was acquired LGIM Real Assets in 2013 and is currently undergoing an 18-month improvement programme that will complete at the end of next year.
“Attracting top brands to the Dolphin centre is really important to position the shopping centre as a significant attraction on the south coast for tourists and residents alike. Combined with the improvement works, we’re determined to significantly improve the facilities to appeal to all our customers,” said LGIM Real Assets senior fund manager Mark Russell.
LGIM recently reached an agreement with the Borough of Poole to restructure the existing headlease arrangements into a single, longer lease unlocking a £26m programme of investment. The improvement programme will focus on an internal mall refresh, improvements to the open-air Falkland Square and Kingland Crescent areas and the redevelopment of a former Argos building to create a new nine-screen Empire cinema with four restaurants.