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N1 Shopping Centre

Henderson signs GBK at N1 Shopping Centre in Islington, London

Henderson Global Investor’s c. £12.3 billion Property Business has agreed a 15 year lease with Gourmet Burger Kitchen for its N1 Shopping Centre in Islington, London. GBK has taken a 2,150 sq ft unit in the shopping centre. The unit is located in the midst of the food and beverage offer, next to Wagamama and adjacent to Vue Cinema on the first floor. The unit will be fitted out in GBK’s newly launched brand and store design.

Henderson Global Investor’s c. £12.3 billion Property Business has agreed a 15 year lease with Gourmet Burger Kitchen for its N1 Shopping Centre in Islington, London. GBK has taken a 2,150 sq ft unit in the shopping centre. The unit is located in the midst of the food and beverage offer, next to Wagamama and adjacent to Vue Cinema on the first floor. The unit will be fitted out in GBK’s newly launched brand and store design.

The signing demonstrates a change in leasing focus for Henderson to actively seek to boost the dining offer, following an assessment of tenant mix in the centre.

For GBK, it is representative of its UK expansion drive which will see it open five new restaurants across the UK before the end of February 2013. GBK currently operates 53 restaurants across the UK, having opened their first restaurant in Battersea, London in 2001. As part of their current growth and development plan, the look of GBK is evolving with an ongoing refurbishment programme underway. Working with a mix of designers, the new look GBK restaurants include open kitchens and artisan fittings.

Jason Boyce, Senior Portfolio Manager at Henderson Property, commented, “This new letting introduces a key restaurateur to our dining line up at N1 and represents the first step in a new leasing strategy for the centre. It will crucially expand our tenant mix in the centre, benefitting both retailers and consumers alike.

“The food and beverage offer is becoming increasingly important in shopping centres globally as sales growth via the internet continues to grow. In this new age of retailing, bricks & mortar is increasingly required to offer a retail experience, a day out or a leisure activity. It’s our job as landlords to work hard to create retail destinations which provide the ultimate customer service and a leisure and catering offer that cannot be replicated digitally in order to entice shoppers out of their armchairs!”

Stephen Evans, Property and Development Director for GBK commented: “I am delighted that we have managed to position GBK at the forefront of some exciting new retail developments where quality restaurant options are becoming an integral part of the customer experience. We are very happy to have secured two sites in London, traditional GBK heartland, where competition for sites is at an all-time high and the gourmet burger market is expanding rapidly.”

Henderson Global Investors acquired N1 Islington in 2010 on behalf of Warburg-Henderson, its joint venture fund with M.W.Warburg & Co. The 150,000 sq ft centre is located to the north of Angel underground station, at the interchange between the A1 and A501 in the affluent London borough of Islington. N1 Islington’s accessibility and connectivity, combined with its status as a desirable residential district, provides the centre with an annual footfall of approximately 11 million.

Anchored by Vue Cinema and H&M, the scheme has a strong retailer line up which includes Gap, Next, French Connection and HMV.

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