TK MAXX GIVES GREEN LIGHT FOR DERBY

May 15, 2017

Redefine International, represented by KLM Retail, has exchanged contracts with TK Maxx to take a new unit on Derby’s Albion Street.

Situated adjacent to The Disney Store and opposite Gap, the new 22,000 sq ft store will have extensive frontage to Albion Street and is ideally well placed to capitalise on the footfall generated by Intu Derby. The store is being formed from a combination of 3 unit shops and redundant ancillary space above.

Redefine purchased the Albion Street block which totals 50,000 sq ft of retail space less than 12 months ago. Following the deal to TK Maxx, KLM Retail are now able to discuss further opportunities on Albion Street ranging from 750 sq ft to 4,000 sq ft.

Will Thomas, Partner at KLM Retail commented, “TK Maxx is a fantastic addition to the retail mix in Derby and their new store is ideally located within the city. Albion Street provides exposure to really significant footfall at a fraction of the rents being sought elsewhere. We look forward to now releasing further opportunities on Albion Street to continue the evolution of the pitch”

Adrian Horsburgh, Property Director at Redefine International, commented, “We acquired our units on Albion Street as part of the AUK transaction last year and it is a site that we identified as having significant asset management potential in a high footfall location in Derby city centre, which is the target of significant investment by the local authority. This letting to TK Maxx, a high-profile brand with a strong covenant, is in line with our strategy to target income-led asset management opportunities as we continue with our objective of becoming the UK’s leading income-focused REIT.”

Latest News

METROCENTRE NEW MANAGEMENT TEAM SIGNALS NEW DAWN FOR NORTH EAST DESTINATION

November 3, 2020 - 09:54

One of the UK’s leading shopping centre operators, Sovereign Centros has taken over the running of intu’s largest asset, the Metrocentre in Gateshead, heralding a new era for the premier North Eas[...]

+ Read More

New Vue set for Glasgow as work begins at St Enoch Centre

November 3, 2020 - 09:49

Work has begun on a new Vue venue in Glasgow which will launch in quarter one of 2021 and bring around 40 new jobs to the city. Vue has signed a 20 year lease to create a nine-screen Big Screen Entert[...]

+ Read More

1000 new homes, 10,000 new jobs and a transformed city centre for Sunderland, plan promises

October 14, 2020 - 08:31

A TRANSFORMATIONAL masterplan that will reinvent the heart of Sunderland has been released today. The Riverside Sunderland Masterplan, which sets out a detailed blueprint for the regeneration of a key[...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

Wren House, Garden Close Lane, Newbury RG14 6PR