TK Maxx has agreed a 15-year lease on a new anchor store at Bishop’s Stortford shopping centre Jackson Square. GCW has helped centre owner Legal & General secure a deal which will see the designer discounter occupy 21,000 sq ft of repurposed space.
The 200,000 sq ft Jackson Square shopping centre is located in the heart of the affluent market town and is home to more than 40 stores including H&M, Next, New Look and Sainsburys. The TK Maxx store will form part of a wider remodelling of Jackson Square which will include the relocation of existing tenants such as F Hinds and two independent traders, together with the creation of a new central square. The development will also compliment the council’s ‘Old River Lane’ proposals and retain an active link between the centre and the Old River Lane Site, via Causeway.
Legal & General has made significant investment in the centre since its acquisition in 2011. This latest phase follows the creation of a store for H&M and completion of a centre wide refurbishment programme. Recent lettings include Vinegar Hill, Nando’s, and Hotel Chocolat.
Nic Elvidge, Legal & General’s Senior Asset Manager on the Managed Fund, said: “TK Maxx will provide a great focal point for Jackson Square and will form an integral part of Legal & General’s ongoing investment programme. Commitment from all sides for this type of letting underlines that physical shopping still has a vital role to play in successful town centres. We look forward to securing further lettings, from a wide variety of uses, as the centre continues to respond to the changing needs of the local community.”