John Lewis & Partners sign new lease with Sheffield City Council
John Lewis & Partners has agreed a new 20 year lease to 2040 with Sheffield City Council which includes plans for a refurbishment of the shop.
John Lewis has had a presence in Sheffield since the advent of WWII, having originally acquired the Cole Brothers site from Selfridges Provincial Stores group.
The agreement includes plans for a refurbishment, details of which are currently under review. The work is likely to commence in mid-2021 and the shop will remain open throughout.
The new lease forms part of the Sheffield City Council’s Heart of the City plans, which has seen significant investment from the Council to progress the major re-shaping of Sheffield City Centre.
"Shops continue to play a crucial role in our brand story, alongside a strong e-commerce offering. We have had a presence in Sheffield for over 70 years and we have a loyal customer base in the city. As such, we are delighted to have agreed a new lease with Sheffield City Council."Chris Harris, Director of Property & Procurement, John Lewis
Councillor Mazher Iqbal, Cabinet Member for Business and Investment at Sheffield City Council, said:
“Securing John Lewis in the city centre has been one of our key long-term ambitions, so we’re delighted to get a deal done – particularly during a difficult time for the high street on a national scale.
“It is reassuring and exciting to know that one of the country’s leading retail brands has committed to the city. The restructured 20-year lease will help safeguard a significant number of jobs and retains the famous Cole Brothers building as its rightful use – a department store.
“The announcement will also provide confidence to our existing city centre occupiers and no doubt play an important role in helping us attract more quality brands – as we have already seen with the Radisson Blu proposal for Pinstone Street.
“The new lease arrangement will also include an investment from the Council towards the essential refurbishment of the building, which will help to bring it up to modern standards. This investment was always envisaged as part of our wider regeneration plans to try to future-proof the building.”