Budget retailer Primark is to take over the vacant flagship store in The Malls Shopping Centre,
Formerly occupied by department store Allders, the 87,000 sq ft store has been leased to Primark by owner Key Property Investments, the joint venture between St Modwen and Salhia Real Estate, and Basingstoke & Dean council.
Basingstoke & Deane council owns a 99-year underlease of the centre.
Key Property Investments bought the 290,000 sq ft centre in 2004 from Possfund Custodian Trustees for £29.9m.
Paul Arnold, senior development manager of St Modwen, said: “The council and ourselves are delighted to welcome Primark to The Malls which will give a deserved boost to the regeneration of The Malls and the town as a whole.”
Other retailers at the centre include Sainsbury’s, Wilkinsons, WH Smith and Boots.
Key Property Investments and Basingstoke & Deane council were advised by Hartnell Taylor Cook.
Primark was represented by Knight Frank.
