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The Bridges is a dominant enclosed town centre scheme comprising approximately 595,000 sq ft of retail accommodation set across 99 units. There is
a dynamic mix of tenants in occupation including national multiple retailers such as TK Maxx, Primark, New Look, H&M and Iceland. Footfall at The Bridges across 2022 was in excess of 11 million which represented a 16.4% increase on 2021 levels and was 7.5% above UK average shopping centre footfall growth. There has been further growth of 2.2% in the year to date. These numbers illustrate the rebound in footfall numbers post-COVID and indicate that visitor numbers are returning to pre-COVID levels of 13.75m. The council-owned covered market also
sits within The Bridges.
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Destaques do investimento
Situated in the heart of Sunderland City Centre, The Bridges dominates the city’s retail offering and comprises the majority of Sunderland’s retail floorspace
High footfall in excess of 11 million across 2022 with a weekly average of 211,000 visitors
Footfall increased by 16.4% in 2022 and has grown by a further 2.2% for the year to date in 2023
The Bridges provides a range of unit sizes offering a good variety of floor plates for prospective occupiers
The retail offering is tailored to the demographic in Sunderland with the scheme anchored by two discount fashion retailers; Primark and TK Maxx
Proven occupier appetite with 45 deals agreed since 2020 and over 50 national multiples in occupation
The Bridges currently produces a contracted income of £8,038,666 per annum and a net income of £4,787,477 per annum
WAULT of 4.0 years to expiry and 3.3 years to break with 64% of income secured to the top ten tenants
Total business rates payable for The Bridges reduced by 38% as of April 2023 which will assist future rental growth prospects
Sunderland City Council are a pro-active public body with a strong track record of attracting and contributing towards investment and development in the city
Sunderland City Council have secured public and private funding for the £223m re-development of ‘Riverside Sunderland’ which will drive footfall around The Bridges
Opportunity to benefit from future capital value and rental growth as well as increased occupier appetite resulting from the Sunderland County Council re-development plans.
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