Discount fashion and homewear retailer TK Maxx is to open two new stores: one in Washington Square, Workington and the other at Atria Watford.
Acting on behalf of Savills directors and joint Fixed Charge Receivers Kevin Mersh and Matthew Nagle, asset manager Sovereign Centros has exchanged contracts with TK Maxx for a new 22,500sq ft store at Washington Square in Workington town centre.
TK Maxx has signed a 15-year lease for the ground and part first floors of the former Debenhams store and is set to open this summer.
Work to convert the space to meet TK Maxx’s requirements will begin this month (January) and this will also enable the remaining areas of the three-storey building to be used for leisure, civic or other retail uses.
Kevin Mersh, Savills director and joint Fixed Charge Receiver at Washington Square, said: “Having been appointed as receivers back in December 2020, we have focused on enhancing the customer experience. As part of this we are very pleased to welcome TK Maxx who will add both a new and complementary dynamic to the existing tenant line up.”
Meanwhile, Atria Watford, owned by property company SGS and asset managed by Global Mutual, has announced that TK Maxx has signed to open a new store at the centre – set to open this summer. The store will span 30,557sq ft across three floors.
The retailer has signed a 10-year lease on the new store, which is close to the brand’s headquarters on nearby Clarendon Road.
The brand has taken on the unit formerly occupied by Next, which has relocated and upsized within the centre. Next’s new store covers 94,478sq ft and combines the brand’s home, beauty and fashion offerings under one roof. It also houses a 1,270sq ft Mamas & Papas concession.
Steve Gray, head of European retail asset management at Global Mutual, said: “TK Maxx is a much-loved brand, with a diverse product offer and broad appeal. We know it will act as a real draw for shoppers, driving footfall and spend – and we look forward to when it opens its doors in summer 2023.
