Arrival of TK Maxx at old M&S store a 'boost' for Gloucester
DARLING of the High Street TK Maxx is coming to Gloucester.
The company confirmed yesterday it will take over the former Marks & Spencer shop in Northgate Street.
It is aiming to open in February, selling fashion and homeware brands at discount prices.
The news has been greeted with excitement by retail bosses and means both empty M&S stores have been snapped up within two months.
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Discount retailer B&M confirmed yesterday it will open the doors of its 25,000 sq ft store in two weeks on October 13, creating 30 jobs.
Cheryl Lawrence, director of The Vision Centre in Northgate Street, said: "It's brilliant news TK Maxx is coming.
"It's such a huge store we were really concerned what was going to happen to it."
She said footfall had fallen in the area since the unit became empty and added: "Northgate Street does seem to be dying slightly but I think it will be even better than M&S and will pull more people into the city."
According to a report by Property Week, the Watford-based company has signed a 10-year lease with M&S and will pay £300,000 a year to rent the unit.
Spokeswoman Helen Gunter said the trading space would be 17,600sq feet.
"We are very excited to be opening a new store in Gloucester and bringing shoppers our unique shopping concept of savings of up to 60 per cent off the RRP."
The company will be recruiting soon through its website and local Job Centres.
Gloucester City Council leader Councillor Paul James said: "Both are really good news for the city.
"TK Maxx coming is a real boost because it's one of the UK's major retailers and a store people have been crying out for in Gloucester."
Ivan Taylor from Westgate Quarter Traders' Association also welcomed the news.
"We are lucky that shops are being opened.
"I think the future is bright as there are a lot of people looking at Gloucester."
He revealed another boost to trade.
Silver Town Jewellery is moving from its Bull Lane site and expanding into a four times larger unit in Westgate Street next to Moss Bros.
It is due to start work on the refurbishment soon and open in November.