Primark to open store in Shrewsbury

Clothing retailer Primark is to open in Shrewsbury next year with a brand new 30,300 sq ft store spread over two levels of the Darwin Shopping Centre.

The store, which is Primark's first in Shrewsbury, is a reconfiguration of nine existing units.

The new store will trigger a £12 million investment that will include the fit out of the new store and transform the shopping centre's public areas with new floors, ceilings and lighting.

UK Commercial Property Trust Limited (LSE: UKCM), the largest Guernsey based, UK focused, London listed commercial property investment company, which is advised by Standard Life Investments, made the announcement today.

Will Fulton, Fund Manager at Standard Life Investments, said: "Securing this significant letting to Primark is not only an asset management game-changer for our shopping centres in Shrewsbury, through the magnet affect we believe Primark will generate, but it is also expected to be a significant building block in our strategy to improve the Company's overall retail sector performance."

David Rodger, Portfolio Manager at Standard Life Investments, added: "Shrewsbury's town centre is a great success story. It is evolving in an era of competition from internet and out-of-town shopping, building on its popularity and doing so without sacrificing its character and its quality as a pleasant shopping destination. Primark's arrival underlines further the continuing strength and appeal of Shrewsbury's town centre."

The new store opening continues UKCPT's strategy of rebuilding income and footfall in the Pride Hill and Charles Darwin shopping centres by securing an attractive line up of tenants, filling remaining vacant units and modernising public areas.

At the Riverside Mall, UKCPT has been working with Shropshire Council Phoenix Centre Management Cic to fill units and draw shoppers with temporary occupiers, including social and community enterprises, while the redevelopment of Riverside Mall remains under review.