Primark signs up for Central Milton Keynes

18/07/2012

Primark signs up for Central Milton Keynes

Fashion retailer, Primark, has agreed terms to take a major purpose built 90,000 sq ft flagship store at thecentre:mk. The new retail space will feature a premium shop-fit, trading across three levels.

The joint owners of thecentre:mk will be showcasing these exciting new plans during a public exhibition on Friday 20 July and Saturday 21 July between 10am and 6pm, in Middleton Hall,  as part of a major consultation with local stakeholders and members of the public.

This deal comes as part of a significant investment plan for thecentre:mk which presently includes a £27 million extension and refurbishment currently underway at John Lewis, and a £6 million extension and refit to Next following a £4.5 million refurbishment at House of Fraser, which completed at the end of last year.

Following the exhibition, a planning application will be submitted to Milton Keynes Council for the £40 million investment at Secklow Gate, enabling the development of the new Primark store. The plans, which will also create a further 17,500 sq ft retail unit and an improved market site, involves the removal of the southern section of Secklow Gate Bridge, unlocking the potential for the wider regeneration of Central Milton Keynes by opening up the land to the south of the shopping centre and Midsummer Boulevard.

Ben Tolhurst, Asset Manager, Hermes Real Estate Investment Management Limited, said:

“We are firmly committed to the development and evolution of thecentre:mk, and the introduction of high profile retailers looking to expand into Milton Keynes is critical to  maintaining its national retail rankings. Primark has had a requirement for Central Milton Keynes for some time, which is testament to the strong customer demand in the area.  
Mark Lancaster, Member of Parliament for Milton Keynes North, said:

“I am delighted to hear that Primark are looking to establish themselves in Central Milton Keynes. We all want this city to continue to thrive and I am confident this addition will maintain and improve Milton Keynes' position as a premier retail destination.”

A Primark spokesperson, said:

“We look forward to opening a new store at thecentre:mk. Milton Keynes provides an ideal location for Primark as it meets our requirements for store locations and is already a popular destination for our target customer.”

CBRE and GCW are the leasing agents at thecentre:mk.