Swansea department store JT Morgan will join independent tailoring chain Slater Menswear in £30 million retail development Princess Way.
Managing director John Coles said JT Morgan would take a 23,000 sq ft anchor unit at Princess Way, which is being built on the site of the former David Evans store in central Swansea. The company has signed a 25-year lease for the store, which is due to open in summer 2008.
JT Morgan currently trades across 27,000 sq ft at its site on Belle Vue Way, just outside the city centre. However, Coles pointed out that the store was burdened with an inefficient layout.
"The store at Princess Way will be purpose-built for a retailer, so it will have escalators and lifts and should make better use of space," he said. "It will be great to be in the city centre as well, because this end of town is mainly office space."
Developer Thurleigh Estates has already signed Glasgow-based Slater for a 12,000 sq ft store at the development, while Spanish young fashion chain Zara is to co-anchor the centre with a 17,000 sq ft unit.
The 58,000 sq ft scheme is expected to house five stores trading over two levels, with a sixth store located on the third floor at roof level.
Princess Way is one of several retail developments backed by the city council in an effort to draw trade back into the city centre, after tough competition from out-of-town retail parks.
Cole said trading had been tough over the past six months because of roadworks that plagued Belle Vue Way, which is also home to a bridalwear shop and a menswear independent.