The Crescent completes at Metrocentre
Built by PCN, the 10,000 sq ft space in the shopping centre’s Upper Green Mall will be a home for independent brands, and is anchored by Café Filto which will take the central kiosk space.
Designed by Collective Design and named after the curved design of its shopfronts, the space comprises 11 individual retail units, designed for local and independent businesses to trial retailing at Metrocentre.
Project managed by Knowles & Co, almost 60% of the units are already under offer. Leasing for the hub will be handled by LM Real Estate and Time Retail Partners.
The 2m sq ft Metrocentre is currently on the market, with bids expected next month and retail giant Frasers Group rumoured to be the frontrunner to acquire the asset with a £500m offer.
Currently, 52 acres of brownfield land surrounding the centre are set to be developed into a 4,500-home neighbourhood. The government is currently considering the MetroGreen Area Action Plan, which proposes 990 homes around the Metrocentre by 2030 as part of the wider scheme.
Noah Knapton, asset manager at Sovereign Centros from CBRE, asset managers of Metrocentre, said: “The Crescent is an important evolution of the
“Independent retail is something we really value, and The Crescent, alongside The Village located in Upper Blue Mall, are all about supporting local businesses and entrepreneurs and providing them with a platform to trade amongst the best of the best, in a safe, welcoming, and vibrant environment that leads the way for the North East.”
Dominic Johnson, owner of Filto, added: “The vision for The Crescent really resonates with us, and we see Café Filto as a natural fit for the space. Being positioned at the heart of this new hub gives us a great opportunity to connect with an expansive mix of people throughout the day, while creating a relaxed space where customers can pause, meet and linger.
“Being an independent operator ourselves, it is fantastic to be able to sit alongside like-minded brands that align with our long-term goals and ambitions.”
