In the two years since Ellandi bought Blaydon shopping centre in a JV with Lonestar, the scheme has moved full steam ahead.
The opening of the new Morrisons superstore in 2014 was a catalyst for the transformation of the scheme which has seen the arrival of new national and regional retailers including Specsavers, Costa Coffee, Subway, Dominoes, Boyes and Shoe Zone, firmly establishing it as a successful community shopping centre.
Ellandi’s asset management director Jonathan Robson said: "When we first took on the scheme, Morrisons had newly opened and there was some speculation as to how this would affect other parts of the centre.
“However we’ve managed to capitalise on the success of Morrisons, attracting new retailers complementing the existing tenant mix which has resulted in rental growth across the centre. The main part of the scheme now being fully let and annual footfall is more than five million.”