BL and Aviva secure M&S for former Debenhams Bath store

Marks & Spencer has signed for 122,000 sq ft in the former Debenhams store at British Land and Aviva Investors’ SouthGate Bath shopping centre, and 80,000 sq ft at Hammerson’s Cabot Circus in Bristol. Around 83,000 sq ft of the SouthGate Bath store will be trading space. It will house its food hall concept, as well as its clothing and beauty ranges. The deal marks a relocation for M&S, which will work with Bath & North East Somerset Council on the future use of its existing store on Stall Street. It will invest £17m in the move. The agreement takes the SouthGate scheme to 100% let, after recent deals with Zara (32,000 sq ft), Rituals (1,200 sq ft) and Sunglass Hut (1,042 sq ft). Recent deals that British Land has signed with Marks & Spencer include upsizes at Doncaster and Swindon totalling 94,000 sq ft. The retailer has also agreed to take 80,000 sq ft at Cabot Circus for a new Bristol flagship. It is investing £21m in the store, which will also include a grocery offer. Hammerson said the deal marked its fourth letting with M&S as part of the retailer’s store rotation programme. In its latest full-year results update, the retailer set out plans to open up to four full-line stores and nine foodhalls across the UK in its current financial year. Darren Richards, head of real estate at British Land, said SouthGate’s “prominent city centre location and strong national transport links create a compelling offer for our occupiers”.  “Marks & Spencer is a great retailer with whom we continue to work closely as they expand their offer across our retail portfolio,” he added. Julian Cobourne, head of regional investment management at Aviva Investors, said: “Bath remains a thriving destination in the south-west of England and it is great to see this continuing to be reflected in the quality of companies represented across the scheme.” Hammerson chief executive Rita-Rose Gagné said: “M&S is a brand that resonates with our core catchment areas and this new store will support our strategy to create a leading destination, thriving at the heart of Bristol city centre.” Will Smith, property director at M&S, said: “Our customers want to shop in modern stores, with the right space in the right locations and with strong parking and public transport options. The Bath city centre site provides all of this. “Our recent city centre relocations and renewals have already shown strong performance and we are confident that customers in Bath will be impressed with a new store that is fit for the future and guarantees M&S will remain in Bath city centre for many years to come.” Image from PR