THE future looks bright for a Burton shopping precinct after a major retailer announced a 10 year lease as it prepares to move into a bumper new home.
Poundland has finally put pen to paper on the deal to move into the former Beatties two-storey unit in The Octagon shopping centre after the plans were exclusively revealed in the Mail
Bosses at the centre revealed that the firm’s decision to commit, alongside recent news that TK Maxx has signed up long term to stay in the centre and undergo an extensive refit, is ‘great news’ for Burton.
Centre manager Peter Hardingham said: “It is really good for Poundland, a major firm, to commit to the centre and is a real boost.
“The talks have been taking place for months so it is great to finally to get it wrapped up.
“It shows that retailers have faith in the centre and not only want to stay but also expand.
“It shows they have faith in the town and also shows that, for its size, Burton punches above its weight in terms of attracting shoppers.
“Both Poundland and TK Maxx are set to be refurbished and ready by the middle of October - just in time for what is hopefully a busy Christmas period for the whole town.”
The Poundland deal follows three months of negotiations between the firm and DTZ Management, who run the centre.
TK Maxx has changed its lease to span ten years and committed to refit its store while fashion retailer Bon Marche has also improved its lease and suit shop Greenwoods has moved to bigger premises and signed a new lease.
Three new traders have recently taken units at the centre including Fresh and Fruity as well as the indoor market relocating to the centre’s first floor.
Mark Sealey, associate director at DTZ, said: “It is a challenging environment for secondary shopping centres but we have actively moved the Octagon through a transition period over the past 12 months and are very pleased to see the successful implementation of our asset management strategy culminating in the centre’s anchor store letting to Poundland and long term commitment to and investment in the centre by TK Maxx.”