National tech and entertainment retailer expands North East footprint with 10-year deal

A national technology and entertainment goods chain has pledged its commitment to the North East with a new decade-long lease.

Technology and entertainment goods store CeX has committed to a 10-year term at a premises in South Shields, in a deal negotiated by regional property consultancy Naylors Gavin Black.

The firm, which specialises in the buying and selling of DVDs, games and electronics, is set to occupy 35-37 King Street, previously occupied by Carphone Warehouse and owned by Goldcrest Properties.

Chris Pearson, partner at Naylors Gavin Black, commented: “Retail lettings to established national chains are rare in the current climate, so we’re delighted to have been able to secure such a high quality tenant on behalf of Goldcrest Properties.

“The area around King Street benefits from recent improvements to public transport access and the town’s new £21m Tyne and Wear Metro interchange.

“This letting demonstrates the impact such projects can have in helping to revitalise busy town centres.”

Ewen Cameron of retail property consultancy Cameron Trafford, who acted on behalf of CeX, added: “Small towns such as South Shields are brilliant locations for us and we’re proud to be growing our portfolio of more than 380 stores in the area.

“We look forward to the next 10 years on Tyneside!”