Posted on Friday 8 February 2019 by John Mulgrew
The future of House of Fraser in Belfast appears to be safe after the retailer signed a fresh lease on its anchor store at Victoria Square, it can be revealed.
House of Fraser has said it has “agreed terms with Commerz Real to secure a new long-term lease” with Victoria Square.
Sports Direct owner Mike Ashley bought the retailer out of administration for £90m, and has earmarked some of the House of Fraser stores for closure.
House of Fraser now says it is “committed to fully renovating the store with investment upwards of £10m. Design agencies have been appointed, with works due to start in mid-2019”.
It says the deal secures “the futures of over 500 members of staff in Belfast”.
Katharina von Schacky, global head of shopping at Commerz Real, said: “We worked very closely with House of Fraser to secure the new long-term lease in the city centre.
“This will further strengthen Belfast and it shows the unique position Victoria Square has in the Belfast region.”