TK Maxx in Cheltenham set for expansion
TK Maxx is set to expand by 30 per cent – it has been revealed.
The cult store – with its "big labels, small prices" trademark – hopes to take on a third more space on its prime first floor location in Cheltenham's Regent Arcade.
-
TK Maxx at Regent Arcade, Cheltenham
The shop, which sells clothes, footwear, bedding, furniture, jewellery, beauty products, toys and housewares, is taking over seven neighbouring units.
Its expansion marks a huge vote of confidence in Cheltenham as a top retail centre. It is likely to relaunch between January and February next year.
Business Cards From Only £10.95 Delivered www.myprint-247.co.uk
View detailsOur heavyweight cards have FREE UV silk coating, FREE next day delivery & VAT included. Choose from 1000's of pre-designed templates or upload your own artwork. Orders dispatched within 24hrs.
Terms: Visit our site for more products: Business Cards, Compliment Slips, Letterheads, Leaflets, Postcards, Posters & much more. All items are free next day delivery. www.myprint-247.co.uk
Contact: 01858 468192
Valid until: Sunday, May 26 2013
TK Maxx's head of communications Helen Gunter said: "We're absolutely thrilled to be offering the people of Cheltenham a bigger and brighter store.
"We want to give local shoppers more choice and more designer labels.
"The store will be 8,000 sq ft larger with a wider range of departments. There will be no change to our exciting shopping experience giving customers savings of up to 60 per cent off the recommended retail price on all their favourite high street and designer brands across fashion accessories and homeware."
The news follows hot on the heels that fashion giants H&M will open in Regent Arcade in the spring.
Richard Ralph, senior surveyor with DTZ, managing agents for the Regent Arcade, welcomed the "exciting" move.
He said TK Maxx was bucking the current trend.
"A Local Data Company report out today says nearly 15 per cent of all high street units in Britain are vacant," he said.
"But often the shops are all too small and there's a shortage of decent-sized spaces. Because of Regent Arcade's flexibility we have been able to accommodate that and give stores more space. Now TK Maxx is going to expand by 30 per cent and become one-third as big again.
"Most of the units at the side of the store are currently vacant, enabling it to expand right up to the old Sony Centre, so its frontage will be right at the top of the first floor escalator.
"With BHS at one end and H&M and River Island opening at the other end, TK Maxx will be one of the anchors of the arcade. The Regent Arcade is becoming a major centre for big name brands."
Five of the seven units being taken over are vacant and negotiations have concluded with the two current tenants. TK Maxx employs 27 staff and will be recruiting more.
Comments
by Gervasew
Wednesday, September 05 2012, 8:53PM
“So, local businesses run by and employing local people and spending their profits locally are being squeezed out by a cut-price, down-market national chain whose profits will be spent elsewhere. Well done Cheltenham!
And I gather the "negotiations" consisted simply of notices to quit being served. A nice way to treat established local traders.”
by thomas1996
Wednesday, September 05 2012, 4:54PM
“I'm surprised people still go up to the upper level of the Regent Arcade, haven't been up there for years. Certainly wouldn't be bothered to go up to TK Maxx - their stores resemble a jumble sale.”
by JennyB
Wednesday, September 05 2012, 3:28PM
“Bit of a misrepresentation at the end there. I understand that there was no negotiation with the existing tenants, they were just sent a letter telling them they had three months notice to quit. Whilst shoppers who want increased opportunities to buy the cheap tat sold by a huge corporation at knock down prices might benefit from this, it's just another example of small local business being trodden on and does nothing to benefit the local economy.”