Thursday, October 26, 2017

News: Rotherham Primark store on the market

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With national retailer, Primark, looking all set to open its new Rotherham store next month, the current unit on the High Street is looking for new tenants.

Rothbiz reported in March that Primark was to open a new store at Parkgate Shopping, relocating from Rotherham town centre.

Sitting alongside M&S and Curry's/PC World, the new Primark store will occupy 33,100 sq ft of retail space over two levels and will create over 40 new jobs, bringing the total number of employees to 107.

BMO Real Estate Partners, the owners of Parkgate Shopping, have moved quickly to fit out the store to Primark's latest contemporary shop fit, including a double-height glazed frontage, new signage and an extension to the mezzanine trading level.

With the impending move from one former BHS unit to another, joint agents at Smith Young and Edgerley Simpson Howe have been brought in to market the prominent High Street unit.

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One of the largest retail units in Rotherham town centre, 11-13 High Street is described as a "prime retail opportunity" and extends to some 22,343 sq ft on the ground floor, currently in use by Primark. The first floor covers 19,237 sq ft and there is over 1,000 sq ft on the second floor.

The property is being advertised as leasehold but freehold offers will be considered. The rent for the property has been given a guide price of offers in excess of £200,000 per annum exclusive.

The rateable value, which influences the business rates payable by the occupier, is £192,000.

Rotherham Council has acknowledged that the retailer's move will have an impact on the already falling footfall rates in Rotherham town centre. The authority said in August: "The recently announced move of Primark to Parkgate will have an impact on footfall on High Street and the wider town centre. The closure is scheduled for the last quarter of 2017 and Council officers are seeking a meeting with Primark to discuss plans for the store, which is owned by Primark."

Associated British Foods plc, which owns Primark, reported this week that the chain "performed particularly well in the UK where full year sales are expected to be 10% ahead of last year on a comparable basis and our share of the total clothing market has increased significantly."

1.5 million sq ft of selling space has been created by Primark this year and 30 new stores were opened across nine countries - nine in the UK. With 345 stores, over 1.2 million sq ft of additional selling space is being planned for next year.

Primark website

Images: Primark

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