Primark takes biggest letting in 25 years
Primark takes biggest letting in 25 years at Centre:MK
Primark is set to take over the former BHS store at Centre:MK in Milton Keynes, marking the shopping centre’s largest letting in quarter of a century.
The discount fashion retailer has penned a deal to move into the 75,000sq ft space, a year after BHS vacated the premises.
Of the 160 BHS stores which now stand vacant, only around 40 per cent have been filled as demand for large retail spaces falters.
Brands like Primark and Sports Direct have taken around 25 of the 160, while a further 35 have planning permission or have secured tenants for the near future.
The space will see the former BHS location on Silbury Arcade extended and is set to be handed over to Primark for fitting next year.
Over £60 million has recently been earmarked for investment in the shopping centre in what is being dubbed the “re-imagining an icon strategy”.
Joint owners Hermes Investment Management and AustralianSuper said the letting was a milestone in their rejuvenation strategy, following repeated visitor surveys highlighting Primark as the most requested brand.