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Newport-on-Tay

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A number of tenants have extended at <a href="https://completelyretail.co.uk/shops-to-rent/dundee?lat=56.462018&amp;lng=-2.970721&amp;n=56.51459474156685&amp;s=56.43460595843313&amp;e=-2.8266441584331337&amp;w=-3.1070223415668665&amp;name=Dundee">Dundee's</a> <a href="https://completelyretail.co.uk/scheme/overgate-dundee-4914">Overgate</a> Centre following an investment into the scheme by Frasers Group.



The group - <a href="https://news.completelyretail.co.uk/mike-ashleys-frasers-group-snaps-up-another-shopping-centre/">which acquired the centre in March for around £30m</a> - has confirmed plans to turn the former Debenhams into a Frasers department store with an opening planned for September.



Now a number of existing tenants at the scheme are renewing their leases, with others pledging investment into their stores, The Courier reports.



Recent renewals at the Overgate include Claire's, Warren James, Goldsmiths, and Greggs. This year, Warren James, Goldsmiths, Chopstix, and Costa are planning to upgrade their stores.



Following a £5m development, the ground floor of the former Debenhams will become home to the Frasers department store, whilst the first and top floors will become a Sports Direct with Evans Cycles and USC.



As a result, the current Sports Direct and USC stores will become vacant. Meanwhile, both Smiggles and Argos are set to leave the scheme by January and March respectively.



Another Frasers brand, Flannels, is considering a move into the current Argos or Sports Direct units.



Scheme manager Malcolm Angus said Frasers' arrival will benefit all of the centre's shops.



He added: “Frasers Group buying the Overgate has been very positive. Millions are being spent on Frasers and potentially millions more in refurbishing the mall.



“A solar panel project, EV charging and cosmetic upgrades in the mall are all on the table.”

Tenants extend at Overgate following Frasers investment

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Golfing legend Tiger Woods and pop star Justin Timberlake have teamed up with the aim to open a luxury sports bar in <a href="https://completelyretail.co.uk/shops-to-rent/st-andrews">St Andrews</a>.



The pair are shareholders in real estate firm Nexus Luxury Collection, which is leading the development.



Under the proposals, which are subject to approval from councillors, the New Picture House cinema will be redeveloped to accommodate golf simulators, duckpin bowling, and darts, and will also screen sporting events.



If the plans go ahead, the cinema will retain one screen for theatrical releases.



The venue would be the duo's second 'T-Squared Social', following the concept's debut in New York City last month.



Woods said that the idea came to fruition when the pair went golfing in the Bahamas.



"Justin and I thought it would be cool to create a place that combines our favourite things and brings people together to just have a great time", he said.



David Morris, managing director of the New Picture House, said: "Since opening for the first time in 1930, the New Picture House has been an integral part of the town's entertainment base. The planned T-Squared Social investment will enable the local community, students and visitors, the opportunity to experience a broader range of cinema, dining and entertainment at the popular venue."



Christopher Anand, chief executive and managing partner at Nexus Luxury Collection, added: "Our inaugural location in New York City is exceeding all performance metrics. We are excited to open our second location here and look forward to working with the local planning board to create something truly special in St. Andrews."



Savills represented T-Squared Social on the transaction, whilst the seller was represented by Entertainment Solution Services.

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