Sports Direct buys former TJ Hughes site
Sovereign Centros, on behalf of Europa Capital, has completed the freehold sale of a former TJ Hughes building in Corby town centre to Sports Direct. The move is a major boost for the town centre and will see the retailer relocate to Queens Square from an out-of-town retail park.
Sports Direct will be trading its USC fashion and Sports Direct brands from this new store. Work is expected to start on a full refurbishment of the building imminently, with an opening planned for Easter 2020.
The 46,416-sq ft building facing onto Queens Square was last occupied by TJ Hughes, before the retailer closed its doors in 2011. The majority of the building was held on a long lease with 55 years remaining to Leto, managed by APAM, but TJ Hughes’ closure left a major hole in the town’s high street.
Corby Town Centre SARL owned the freehold of the building so the deal involved a number of parties working collaboratively together to secure a long-term retail occupier for the building.
Simon Phipps, senior leasing, development and asset manager at Sovereign Centros said: “This is an excellent move which secures Sports Direct’s future in the heart of Corby town centre and will be widely welcomed by other town centre retailers, and Corby’s shoppers alike.”
Sports Direct was advised by Bidwell Webber De Pons.