Culverwell and Company - Retail Development - Dundee, Wellgate Centre

Date: 21 Nov 2001

In the approach to Christmas, a number of positive developments are underway at the Wellgate Centre, Dundee, with a range of new outlets, and a new mall cafe created on level 2.

Called the Level Two Cafe, its design has been undertaken by award winning Glasgow-based consultants Graven Images, and will be operated by the Grant Catering Group. The new cafe will become the primary food outlet in the centre, and will be a significant draw in generating additional footfall on this important level.

Adams and Mark One have relocated to larger and better positioned shops on the middle level. These moves have allowed the creation of a new 10,000 sq ft (929 sq m) store which has now been let to What Everyone Wants on a 15 year lease at a rental of £140,000 per annum.

On level 1, a new 15 year lease of Unit A, which extends to 2324 sq ft (216 sq m) and was formerly occupied by Sallsburys, has been agreed with Alias Footwear at an al annual rental of £90,000. On level 3, Western Leather has agreed a 15 year lease of Unit 27 which extends to 1700 sq ft (158 sq m) at a rental of £35,000 per annum. Also on level 3 next to Vision Express, a new 600 sq ft (56 sq m) unit has been created which has been let to national hairstylist Supercuts on a 15 year lease at a rental of £18,000 per annum.

Retained joint agents for the Wellgate Centre are Culverwell and Company and Colliers CRE.

James Godfrey of Culverwell comments:

"These are all positive indications that the Wellgate continues to perform well and that it remains at the centre of Dundee's retail offer. Investment in the new cafe, £1,000,000 refurbishment of the car park, and other ongoing improvements will add to the centre's appeal and encourage business for its retail tenants. Current indications are of no let-up in consumer spending, and this forecasts well for the Christmas sales peak."

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