Søstrene Grene Signs 10-Year Lease at Clearbell Capital's The Riverwalk, Bringing Durham Scheme to Full Occupancy
Scandinavian homewares retailer Søstrene Grene has agreed a 10-year lease for a 4,445-square-foot unit at The Riverwalk in Durham, pushing Clearbell Capital's mixed-use retail and leisure destination to full occupancy, the firm announced Sept. 21.
The unit, which includes 2,992 square feet of trading space overlooking the River Wear, marks the latest in a series of lettings at the 250,000-square-foot scheme at 1 Framwellgate Bridge, Durham, DH1 4SL. Clearbell Capital has managed the property since acquiring it in 2014.
Lease Details and Tenant Profile
Søstrene Grene, known for affordable Scandinavian-inspired homeware, interiors, crafts, seasonal products and children's items, will use the River Wear-facing unit as its newest Northeast England location. The brand has been expanding its presence across the United Kingdom, and the Durham store represents a further step in that rollout.
Mikkel Grene, Group CEO and Co-owner of Søstrene Grene, said the scheme was a natural fit for the brand's regional growth. "As we continue our UK expansion, The Riverwalk felt like the perfect place to open our newest Northeast location," he said. "We're looking forward to opening the doors to our new Durham store and introducing even more customers to our unique shopping experience."
Full Occupancy Follows Run of Recent Lettings
The Søstrene Grene deal completes the occupancy picture at The Riverwalk following a sequence of recent transactions. Independent gift retailer McGrace signed a 10-year lease for a bath bombs and candle store at the scheme, while family-friendly Italian restaurant Sambuca opened a roughly 2,500-square-foot restaurant. The scheme also counts Odeon among its tenants.
The scheme includes 253 student accommodation units alongside its retail and leisure offer. Durham's university population of approximately 18,000 students and an annual tourist draw of around 4.2 million visitors underpin day-to-day footfall demand at the centre, which sits near the city's historic core.
Toby Saul, Investment Director at Clearbell Capital, said the letting demonstrated the value of sustained asset management. "Søstrene Grene has built a strong reputation for its distinctive retail experience and is a fantastic addition to our occupier mix, further strengthening the destination for both visitors and the wider city," Saul said. "This letting is another example of how active asset management can create lasting value, ensuring destinations continue to evolve in line with occupier demand — all the while delivering an experience that will keep visitors returning time and again."
Asset Management Strategy at The Riverwalk
Clearbell Capital acquired The Riverwalk in 2014 and has since overseen the management of the mixed-use site. The broader redevelopment of the scheme involved approximately £30 million in investment, delivering around 35,000 square feet of new restaurant space, 23 refurbished retail units, 253 student accommodation rooms, and a six-screen Odeon cinema.
The recent run of lettings — spanning food and beverage, independent retail, and branded homewares — reflects a deliberate effort to broaden the visitor experience at the destination and diversify its tenant base. The scheme's occupier mix now spans national and independent brands across retail, hospitality, and leisure categories.
Market Context
The Riverwalk's full occupancy milestone comes as UK city-centre retail and leisure destinations increasingly compete on the strength of their tenant curation and experiential offer. Schemes with a robust leisure component, reliable student and tourist footfall, and a mix of food, beverage, and specialty retail have shown resilience in a market where comparison-retail traffic alone is no longer sufficient to sustain occupancy.
Søstrene Grene's decision to enter the Northeast England market through The Riverwalk signals continued operator confidence in well-positioned, mixed-use destinations outside major metropolitan centres. For Clearbell Capital, the fully leased scheme represents a tangible outcome of its long-term asset management approach at the Durham property.
Sources
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