Retail schemes within train stations have become immensely popular destinations for retailers seeking to expand as the combination of a captive market and constantly renewable consumer base has continued to prove attractive, especially in terms of increased footfall levels.
This has seen Network Rail invest heavily into creating flexible spare commercial space, which has seen its rental income approach £1 billion.
This week the infrastructure body has confirmed that its £600 million redevelopment programme at Birmingham New Street station is now nearing completion.
Network Rail announced that the new look New Street will officially open in September of next year, with the announcement coinciding with the successful installation of atrium roof covering the development.
The opening will also include the unveiling of the Grand Central retail scheme, of which around 85 per cent of the floor space has already been leased.
Anchoring the retail scheme will be a £35 million, 250 000 sq ft John Lewis store, to be known as John Lewis Birmingham. Other retailers, such as Joules, Fat Face, Monsoon Accessorize and Jolie Papier were announced this week, joining an extensive list including top brands confirmed earlier this year including L’Occitaine and Kiehls.
Yet Grand Central will also follow the trend to include a high number of leisure aspects, with a number of restaurant and café brands adding to the line-up – several of which will be making their debut in the city as a result of the redevelopment. These include Tortilla, Crepe Affair and Yo! Sushi, along with a number of additional brands.
Leasing director for Grand Central, Keith Stone, believes that the opening of the retail scheme will prove profitable for Birmingham as a whole.
He says; “Grand Central is integrated with the modern, redeveloped station which will provide millions of people from across the region with unparalleled access to a range of exciting brands and a premium shopping experience.
“With the vast majority of our retailers and restaurants opening new shops in the city, Grand Central will complement the shopping and entertainment already in Birmingham, making the city centre one of the best shopping and entertainment destinations outside of London.”
The next stage in the redevelopment will see around 6,000 tons of reinforced concrete removed to make way for the new atrium space, which upon completion will measure around the same size as a football pitch. According to Network Rail, around 95 per cent of the waste material created by the extensive demolition project will be re-used on the site or recycled.
As well as the 60 shop units, restaurants and cafés contained within Grand Central, a further 60,000 sq ft of retail space will be created within the station itself. This is expected to prove extremely popular with the 50 million people passing through the station complex each year.
Project director for Network Rail, Chris Montgomery, says; “This project is a great example of how investment in our transport infrastructure can boost the economy.
“The New Street development, complemented by Grand Central, will improve the city centre environment in Birmingham, creating new public space to stimulate regeneration and create up to one thousand new jobs for local people.”
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