Institutional landlord Landsec has received planning permission from Cardiff City Council to develop a former Debenhams into a city square, Retail Week can reveal.
A 102,000 sq ft city square will be created from a former Debenhams unit as Landsec said the investment is part of its “long-term commitment to retail” to improve confidence in the sector’s future while driving economic growth.
The overhaul has been developed in collaboration with over 5,000 local Cardiff residents, which showed a large demand for high-quality leisure experiences, green spaces, and family-friendly environments.
St David’s shopping centre in Cardiff has recently seen more brands join its portfolio including Sosandar and Søstrene Grene, and JD Sports will also be opening a new 32,000 sq ft store there later this year.
Landsec said the strong leasing performance is set to keep growing due to the “enhanced guest experience” attracting a wider audience and repeat visits.
Its retail portfolio shows occupancy has exceeded pre-pandemic levels and is now at a rate of 96%. Landsec has a pipeline of retail investments across the UK and is committed to “shaping the future of retail by delivering innovative, consumer-centric destinations that drive long-term value.”
Landsec managing director for retail Bruce Findlay said: “We believe in the future of well-managed retail spaces and this approval is a significant milestone in our long-term investment strategy for St David’s. The city square project underscores our commitment to creating exceptional experiences for our visitors which, in turn, provides a robust platform for our brand partners to grow.
“Our plans will transform a former failing department store into a new public space, equivalent to almost one and a half football pitches, which incorporates nature, play and leisure. This will replace the 1970s concrete buildings and provide a compelling all-day destination with new hospitality and leisure experiences for the local community and visitors to Cardiff city centre.
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