TK Maxx has committed to staying at Castle Quarter – Norwich’s leading social, leisure and lifestyle destination – by renewing the lease on its existing store at the scheme.
The clothing and homeware retailer has signed a new 10-year lease, with a break after five years, on the 23,000sq ft store.
TK Maxx is a key pillar of Castle Quarter’s retail line-up, alongside major brands such as Boots, Flying Tiger and The Entertainer.
The scheme’s repositioning has brought competitive socialising brands Boom Battle Bar, Putt Putt Social and Escape Hunt, joining other operators such as cinema chain Vue – which recently committed for a further 20 years – to create a leisure hub that is unrivalled in central Norwich. The pivot has also attracted independent and innovative dining options, further establishing Castle Quarter as a place to watch, play eat and shop.
The repositioning of the asset towards leisure and social has resulted in strong performance across footfall, dwell time, car park usage and occupier turnover, with at least 75% of occupiers reporting higher year-on-year trading figures.
Will Ashdown, asset manager at RivingtonHark, said: “What makes Castle Quarter such an attractive destination is the combination of leisure, social and retail it has to offer visitors, and TK Maxx is a key part of that mix. We are really pleased to see it recommit to Castle Quarter, demonstrating its confidence in the scheme and the success of the repositioning that we have successfully implemented over recent years.”
Castle Quarter totals 387,000sq ft of space and incorporates one of the city centre’s main car parks, with 800 spaces.
Roche and Jamieson Mills are the retained agents on Castle Quarter.
