Touchwood Shopping Centre in Solihull has continued to expand its leading offer with the arrival of Spanish fashion retailer Mango. Mango has taken a 5,250 sq ft ground floor unit on a new ten-year lease.
The arrival of Mango is in line with the wider strategy – developed and implemented by Touchwood owner The Ardent Companies UK (“Ardent UK”) alongside asset manager Sovereign Centros – to diversify the scheme’s offer and attract premium brands to the scheme.
New retailers at the scheme over the past year include Polestar electric cars, luxury watchmaker Tag Heuer premium appliance manufacturer Miele and cosmetics brand Rituals. They have joined existing major outlets including Zara, H&M, Goldsmiths, Next, River Island and the West Midlands’ only John Lewis.
The implementation of the strategy is paying dividends, cementing Touchwood’s position as the region’s must-visit retail destination. Since Ardent UK bought the scheme, over 80,000 sq ft of new lettings and lease renewals have been signed, driving the centre’s occupancy above 96% – compared to 91% on acquisition – and both football and trading performance in the key Christmas season above the same period in 2019.
Ardent UK acquired Touchwood in summer 2021, the first major shopping centre acquisition since the onset of the pandemic, in a deal that effectively called the retail investment market.
Joe Swindells, development director at Ardent UK, said: “Out strategy for Touchwood is entirely focused on bringing the very best retailers and dining options to Solihull, with Mango’s arrival representing yet another string to the centre’s bow. The strength of trading and footfall demonstrates the success of our approach and underlines Touchwood’s position as the destination-of-choice for both retailers and the region’s consumers.”
Simon Phipps, asset manager at Sovereign Centros, added: “Touchwood is an ideal location for a major fashion brand such as Mango, and as such it is hugely exciting to welcome it as part of our market-leading offer.”
Ardent UK and Sovereign Centros were advised by Cushman & Wakefield and Knight Frank.