Lakeland acquire in Milton Keynes

Lakeland, the UK’s premier independent kitchenware retailer, has now taken possession of their latest store acquisition at thecentre:mk, Milton Keynes. Lakeland’s retained agent, Harmer Ray Hoffbrand acted for them and CBRE acted for the Landlords.  

Formerly occupied by Mothercare and due to open in time for Easter, the store occupies a prime location in thecentre:mk, close to John Lewis and NEXT which were refurbished at the end of last year. The property occupies over 6,060 square feet of retail accommodation at mall level. The store will take Lakeland’s total number to 61 with further new stores planned to open during 2013. New stores are already committed to in Wimbledon, Edinburgh and Stirling and HRH are seeking additional opportunities for this year.

Ben Tolhurst, Asset Manager, Hermes Real Estate Investment Management Limited, said:

“We are extremely pleased to be welcoming Lakeland to thecentre:mk, it is great to see new brands taking space in the centre and this announcement marks a further chapter in the development plans for the centre. Over the last twelve months we have invested heavily in improving the retail line-up, with a £27 million extension and refurbishment at John Lewis, £6 million extension and refit at Next and £4.5 million refurbishment at House of Fraser, introducing new unseen brands at thecentre:mk.”

Lakeland recently announced an expansion of their distribution warehouse in Kendal to serve ongoing Middle East, European and UK expansion and HRH continue to look for more UK store opportunities for future openings. Regional city centre locations including Manchester, Leeds and Bristol are being targeted with a major focus on seeking new stores in affluent London suburbs.

CBRE and GCW are joint leasing agents at thecentre:mk, the regionally dominant centre owned by Hermes and PRUPIM.

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