Primark is to take over the vacant flagship store in The Malls Shopping Centre, Basingstoke, which was formerly occupied by Allders.
The award-winning retailer has exchanged contracts with Key Property Investments Ltd, the joint venture between St Modwen Properties PLC and Salhia Real Estate Co., and Basingstoke and Deane Borough Council, the joint owners of the shopping centre, for the 87,000 sq ft store which is to be totally transformed.
The deal means that the anchor store, near the entrance, will be fitted out to Primark¹s very high standard and will contribute towards the regeneration of The Malls which lies between the railway station and Festival Place. The new store will open in late Spring 2008.
Paul Arnold, senior development manager of St Modwen, said: “The council and ourselves are delighted to welcome Primark to The Malls which will give a deserved boost to the regeneration of The Malls and the town as a whole.”
“I am sure that Primark will be a great success at The Malls and will mix well with some of our other retailers such as Sainsburys, Wilkinsons, WH Smith and Boots. We will be working in partnership with the council in the coming months on some asset management initiatives which will further enhance the centre and capitalise on the arrival of Primark.”
Key Property Investments and Basingstoke and Deane Borough Council were advised by Hartnell Taylor Cook LLP. Primark was represented by Knight Frank.
For further information contact Paul Arnold of St Modwen (020 7499 5666).
Issued by Paul Raymer of Howle Chapman Raymer (0121 236 7771).