Capital & Regional, the specialist retail property company, has secured a new letting for its Kingfisher Shopping Centre in Redditch, further highlighting retail confidence within the centre and the wider area. HMV, the entertainment retailing company, is due to open in late September and will take a 2,058 sq ft unit on Walford Walk – formerly occupied by Bank – on a four-year lease.
HMV is a leading specialist retailer of music, film, games and technology products, offering a wide selection of new release and catalogue titles. It opened its first store on Oxford Street in 1921 and continues to trade in 128 locations throughout the UK.
Capital & Regional and funds managed by Oaktree Capital Management, L.P. (Oaktree) have invested £12 million in the refurbishment and repositioning of The Kingfisher Shopping Centre since they formed a joint venture partnership to purchase the 920,000 sq ft scheme in 2012. Since then, Capital & Regional has announced some of the biggest names in retail and leisure, including, Nandos, Foot Asylum, The Range – Capital & Regional’s largest letting to date – and 360 Play. The Range opened a 47,000 sq ft store, which was previously occupied by BHS, in July, while 360 Play opened its first family entertainment venue within a shopping centre in February this year.
Securing HMV represents the next stage in Capital & Regional’s ongoing programme to strengthen the shopping centre’s retail offer and provide a platform for some of the most well-known and desired retailers.
Sian Bowen, Retail Asset Manager for Capital & Regional, commented: “We continue to invest in the centre, not only through refurbishment and regeneration works but with new and exciting stores that we know people want to see. Household names like HMV are synonymous with a healthy retail scene and so we are confident that securing their commitment will not only prove to strengthen the identity of Kingfisher Shopping Centre, but is further evidence that Redditch only continues to grow in its appeal to retailers.”
Neil Taylor, Operations Director at HMV Retail Limited commented: “We are delighted that HMV is opening a brand new store in the Kingfisher Centre, Redditch, which will open later this month. We are extremely proud of our heritage and our dedicated staff, who, like our customers, share a passion for the best music and film, tech, t-shirts, gifts and collectables. Our new Kingfisher store represents a great opportunity for HMV to extend our offer, and we look forward to opening our doors very soon.”
The Kingfisher is anchored by Debenhams, Marks & Spencer, Next and Primark and attracts over 10 million visitors a year.
KLM and Jamieson Mills are the leasing consultants.