Primark is close to sealing the purchase of the Pavilions shopping centre in Birmingham to create its largest store in the UK.
The budget fashion retailer plans to buy the 250,000 sq ft shopping centre from the UBS Triton Property Fund for £60m.
Primark intends to open a 200,000 sq ft store at the mall, which would become its largest, eclipsing a 150,000 sq ft store in Manchester’s Market Street, its current largest, followed by its flagship properties at either end of London’s Oxford Street, W1.
The 250,000 sq ft Pavilions sits next to the Bullring and has struggled with voids since the prime shopping centre opened 10 years ago.
Music chain HMV was the main anchor of Pavilions but the store closed following its administration in January.
Primark has 269 stores around the world covering almost 10m sq ft of selling space.
Savills and Kitchen La Frenais Morgan are advising the UBS Triton Property Fund.
nick.whitten@estatesgazette.com
