January 27, 2023
Acting on behalf of Savills directors and joint Fixed Charge Receivers Kevin Mersh and Matthew Nagle, asset manager Sovereign Centros has exchanged contracts with fashion and homewear retailer TK Maxx for a new 22,500 sq ft store at Washington Square in Workington town centre.
TK Maxx has signed a new 15-year lease for the ground and part first floors of the former Debenhams store in west Cumbria’s leading retail destination. And is set to open this summer.
Work to convert the space to meet TK Maxx’s requirements will begin this month (January) and this will also enable the remaining areas of the three-storey building to be used for leisure, civic or other retail uses.
Kevin Mersh, Savills director and joint Fixed Charge Receiver at Washington Square, comments: “Having been appointed as Receivers back in December 2020, we have focussed on enhancing the customer experience. As part of this we are very pleased to welcome TK Maxx who will add both a new and complementary dynamic to the existing tenant line up.”
Jack Gordon, senior asset manager at Sovereign Centros, said: “We have now brought in five new retailers and agreed 17 lease extensions at Washington Square since the pandemic. For an international brand such as TK Maxx to commit to Workington is tremendous news for the region and will increase footfall in the town, as well as creating jobs”
“We have had good success in diversifying the occupier mix with new food and beverage offers and we are now looking to increase the leisure provision.”
Washington Square is west Cumbria’s primary retailing destination, with a wide and dedicated customer base. The centre comprises 250,000 sq ft of shopping and leisure space and makes up the majority of Workington town centre.
Barker Proudlove are leasing agents for Washington Square.
Goadsby acted for TK Maxx
