May 17, 2013
Value fashion powerhouse Primark is to extend its existing store within The Ridings Shopping Centre in the heart of Wakefield. Primark has signed a deal with owner Moorfield Real Estate Fund (MREF) to increase its store to 28,500 sq ft of sales.
Having purchased the centre in 2005, Moorfield Group has worked with its retail sector asset management partner, Plus Shops Retail, in the implementation of its long-term business plan.
A Primark spokesperson said: “Primark is delighted to be in a position to extend its store in The Ridings Shopping Centre. This extension will enable us to offer customers more space, more style and more savings for all the family.”
Mark Holmes from Moorfield said: “The Ridings Shopping Centre currently achieves a strong footfall of 11 million per annum and we’re pleased that we have been able to support Primark on its expansion, which will no doubt increase the overall number of visitors.”
Leigh Burnett, Managing Director of Plus Shops Retail, which manages The Ridings said: “Through diligent asset management, alongside Moorfield, including relocating two adjacent retailers, we have been able to facilitate Primark in its store upsize.
“We have over 80 stores at The Ridings including M&S, TK Maxx, Boots, Clarks and F Hinds. This latest deal demonstrates Primark’s commitment to The Ridings which will further enhance the fashion offer at the centre.”
Moorfield Group was advised by Kitchen La Frenais Morgan and Brassington Rowan. Primark were unrepresented.