February 5, 2020
Moorgarth Group, the asset manager of Reading’s Broad Street Mall, has completed a deal to keep one of the major retailers at the centre.
It has announced that TK Maxx has committed its long-term future by signing a new 10-year lease on its existing store configuration.
The fashion and lifestyle retailer, which has more than 500 stores across Europe, offers designer clothing brands at a discounted rate as well as home goods, apparels, shoes and beauty accessories.
Moorgarth Group’s managing director Gary Lewis commented: “We are delighted that TK Maxx has joined a number of other key retailers in committing their long-term future to the centre. It is a very exciting time for Broad Street Mall and demonstrates that our strategy of modernisation and diversification is attracting considerable attention.”
Several big name retailers have signed new leases at the centre in the past 15 months.
Iceland relocated from Weldale Street in the town centre in October 2018 and signed a 10-year lease on a new 9,000 sq ft store.
Meanwhile, the former Argos store has been reconfigured and will incorporate a new boutique cinema with strong interest for the remaining space from a host of additional operators.
New Look and Poundland have also signed new 10 year leases and in addition, Moorgarth recently gained permission for a new food hall concept at the southern side of the centre.
Leasing agents on the centre are Knight Frank and Hicks Baker.