Their need

Leeds is one of the UK’s most exciting and vibrant Cities with a strong and well-established retail and leisure offer supported by a diverse population and a booming economy. Victoria Leeds is a key part of the wider offer with a specific focus on aspirational brands, many of which are only found in a handful of prestigious locations. Our client, Redical, purchased the ownership in 2022 and appointed us as joint leasing and lease advisory agents to improve the occupancy rate and rental income whilst evolving the tenant mix to capture the next generation of aspirational brands.

Our approach and thinking

The approach to Victoria Leeds has been very considered. The ownership has 2 distinct sections, each demanding a different strategy. Driving footfall by adding all-day F&B and service uses into Victoria Gate to complement the established brands has improved both footfall and dwell time. In Victoria Quarter, the focus is on luxury and aspirational operators that can thrive from the wealthy and discerning catchment.

Joint results

The occupancy rate is at an all-time high, without compromising the unique appeal of the ownership. New brands are trading above expectations, and the tenant mix across the ownership is now well defined, allowing us to specifically target new entrants who might not have been aware of the opportunities Victoria Quarter presents.