Wednesday, December 8, 2021

Ex-BHS stores continue to find new owners

Two former BHS stores at shopping centres in Walthamstow and Redditch have found new tenants.

Lidl has signed a 25-year lease on an 18,000sq ft space at The Mall in Walthamstow, which is expected to open in early summer.

Capital & Regional, the company who let the properties, has said Lidl will be paying 40 per cent more in rent than BHS on the property.

The second property located in The Kingfisher Centre in Redditch will see The Range move in to the 46,000sq ft store, slated to open at Easter.

READ MORE: BHS’ former Oxford Street site to make way for Reserved’s UK debut

“In the six months since BHS closed, we have already re-let the majority of the stores, securing £1.2 million of contracted rent at levels that in aggregate are ahead of the previous BHS rent and estimated rental value,” Capital & Regional investment director James Ryman said.

“These lettings and the ongoing negotiations on the remaining space reflects the continuing strong occupier demand for Capital & Regional‘s well located, dominant community shopping centres.”

The news comes after the failed department store chain’s former Oxford Street flasghip store, spanning 106,000sq ft, was filled by Polish fashion retailer Reserved. 

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