Posted on Friday 8 February 2019 by John Mulgrew

House 11

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.”


Follow us

Subscribe to Ulster Business Magazine

View Our Digital Library

A L Top 100 2019 button