Key anchor tenants and a strong leisure element are helping to keep the West Midlands at the forefront of the UK’s shopping centre development market, according to new research published by property consultants Cushman & Wakefield.

It showed that the shopping centre development market had rebounded strongly in 2013, with 238,800 sq m of new space added to the market in the first eight months of the year. 

This is in contrast to a subdued 2012 when only 37,000 sq m became available, the lowest recorded level of shopping centre development activity since 1962. 

Completions for 2013 were headed by the 43,000 sq m New Square, West Bromwich, and Rob Alston, retail partner at Cushman & Wakefield in Birmingham, said: “It is anchored by Tesco and Primark, and although it had a relatively slow pre-letting campaign things are now really taking off there, with retailers such as H&M, River Island and Schuh all committing to it.

“Historically, companies such as this would never have considered somewhere like West Bromwich, but this is now the dominant scheme and is well anchored, which has put the place on the map.”

The influence of similar important anchor tenants will help the West Midlands remain buoyant in terms of shopping development into next year, despite a predicted drop in national activity.

In the West Midlands this is expected to slow with just over 109,100 sq m of new space scheduled for completion. Schemes include Grand Central in Birmingham and Parkgate Shirley (15,900 sq m).