Marks & Spencer has signed for two new sites in the South West totalling more than 220,000 sq ft.
The retailer has taken the 122,000 sq ft former Debenhams department store at Aviva Investors and British Land’s SouthGate Bath open-air scheme (pictured), which is now fully let.
Marks & Spencer has also confirmed it is returning to Bath city centre, signing for a new 80,000 sq ft flagship store at Hammerson’s Cabot Circus development.
Will Smith, property director at Marks & Spencer, said: “Our customers want to shop in modern stores, with the right space in the right locations and with strong parking and public transport options. The Bath city centre site provides all of this. Our recent city centre relocations and renewals have already shown strong performance and we are confident that customers in Bath will be impressed with a new store that is fit for the future and guarantees M&S will remain in Bath city centre for many years to come.”
Darren Richards, head of real estate at British Land, added: “SouthGate’s prominent city centre location and strong national transport links create a compelling offer for our occupiers, and following this letting we are delighted that the scheme is now fully let. Marks and Spencer is a great retailer with whom we continue to work closely as they expand their offer across our retail portfolio. They will be a brilliant addition to the strong line up at SouthGate.”
Julian Cobourne, head of regional investment management at Aviva Investors, said: “We are incredibly pleased, both to welcome a brand such as Marks and Spencer to SouthGate, as well as having reached the point of full-occupancy. Bath remains a thriving destination in the south west of England and it is great to see this continuing to be reflected in the quality of companies represented across the scheme.”
Announcing the Bristol store opening at the retailer’s AGM earlier today, Stuart Machin, CEO of Marks & Spencer, said: “It’s brilliant to be announcing our return to Bristol city centre today. At Cabot Circus, we’re able to create a flagship store which delivers the best possible shopping experience for customers and showcases the very best of M&S.
“Our store rotation programme is all about ensuring we have the right stores in the right place and with the right space to excite and inspire our customers, including in city centres. This £21m investment will allow us to do just that while expanding our footprint across the South West.”
Rita-Rose Gagné, CEO of Hammerson, added: “We are delighted to continue expanding our partnership with M&S in Cabot Circus, having seen the positive impact of their presence across our other destinations. M&S is a brand that resonates with our core catchment areas and this new store will support our strategy to create a leading destination, thriving at the heart of Bristol city centre.”
