Partner Article

Apple to cure retail blues

In the aftermath of a gloomy report which found the North East to have the highest rate of empty retail stores in the country, one of the region’s largest shopping centres is set to receive a much-needed shot in the arm next week.

As many as one in five town centre shops are standing empty in some parts of the region, according to a study by the Local Data Company (LDC).

The report found that 14% of shops in the North East were vacant, with almost a quarter of sites in Gateshead remaining empty.

Middlesbrough and Stockton also ranked highly in the study, closely followed by Sunderland, Stockton and Redcar with 16% of lots being unused.

Meanwhile, in Newcastle, where 16.7% of shops are empty – the fifth highest rate in the region – its largest retail centre is gearing up for a double fillip.

One of the largest companies in the world will open its most northerly English store in Eldon Square next week.

Newcastle will become only the fourth town in the North of England to host an iconic Apple store.

The store’s launch already has the region’s tech-heads chomping at the bit to get their teeth into the latest goods from the Steve Jobs production line.

And, alongside next week’s opening of the new redeveloped section of Eldon Square, it could also help boost footfall in Tyneside’s embattled shopping hub.

Eldon Square’s general manager Tim Lamb said: “These have been difficult times for everyone but working with our partners, Newcastle City Council, we decided to go ahead.

“We see ourselves at the forefront of the redevelopment of the city and not just Eldon Square.”

“We are confident that we have a strong development – something backed up by the number of enquiries we’ve received from retailers.”

As well as Apple, new retailers taking their place in Eldon Square include Hollister, sister brand to Abercrombie and Fitch, and Debenams, the shopping centre’s new anchor store.

These globally-recognised names will be joining a host of brands already enjoying Tyneside success.

Lamb’s predictions for the year ahead are hopeful: “In 2010 we’re expecting to have fairly steady growth – we don’t expect any spectacular improvements in trade but we’re already receiving sales figures that show stronger sales than last year.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .