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Next signs new deals for retail park space

Next has signed up to four separate deals in which it will take more than 70,000 square feet of space at retail parks operated by British Land.

GENERAL MERCHANDISE

Next signs new deals for retail park space

Next has signed up to four separate deals in which it will take more than 70,000 square feet of space at retail parks operated by British Land.

The fashion and homewares retailer has more than doubled the size of its stores at Colchester’s Tollgate Centre and Basildon’s Mayflower Retail Park by taking units measuring 19,300 square feet and 23,700 square feet respectively.

In addition, Next has taken 18,000 square feet of space at Westside Retail Park in Guiseley on two separate leases after it re-geared its existing lease and took new space to create a Next Home fascia which will bring the two stores together under one roof.

At the start of the year, Next also agreed a lease re-gear at St Peter’s Retail Park in Mansfield for 10,000 square feet.  

John Maddison, head of retail park asset management for British Land, said: “We are very pleased to have achieved this latest series of deals with Next, and in particular, that they have chosen to upsize at two locations.  Our shopping park in Basildon was recently upgraded, so this is a great reflection of the work we have done there.  Next is one of our key anchor tenants, with almost 50 stores across the portfolio.”

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