Primark signs at Queensgate
Published: 03 February, 2011
Hammerson has secured a 59,000 sq ft Primark store at its Queensgate Shopping Centre in Peterborough, as part of its multi-million pound repositioning strategy for the scheme.
The new Primark store is part of a £20 million investment programme for the 870,000 sq ft centre, which includes a 10,000 sq ft extension, creating new prime retail floor space for the value fashion retailer.
Primark will trade with a full line store on two levels. It is anticipated that the extension will be complete in mid 2012 and Primark will open in time for Christmas trading that year.
Peter Cooper, portfolio director for Hammerson said: “Delivering a new MSU for Primark alongside securing aspirational and affordable fashion brands is part of our core strategy to underline the regional status the scheme already enjoys, and is consistent with our strategy of constantly refreshing our centres.
“Our full-line John Lewis, Waitrose and M&S stores already give us a strong foundation but we cannot be complacent. The best retail destinations need constant evolution and serious attention to detail in order to stay ahead of the competition to deliver the best possible sales platform for retailers and rental growth for investors.”
The addition of Primark follows recent deals to SuperDry, Pandora, Schuh and Republic, all retailers reporting trading levels above expectations.
