Discount retailer returns to Wavertree
TJ Hughes has taken a 170,000 sq ft distribution warehouse off Edge Lane, returning to a building the discount department store chain vacated in 2011 when it went into administration.
TJ Hughes is a Liverpool-headquartered company, which rapidly expanded from the 1980s to early 2000s, but faced financial struggles and went into administration in 2011. Several Northern stores were bought by Benross Group and continued to operate.
The return of TJ Hughes to Edge Lane will see the retailer consolidate out of three warehouses in Speke into the one location, as part of a growth strategy to open new stores and grow the online business.
The Space 170 warehouse was vacant for a number of years after TJ Hughes’ departure, and was acquired by London-based private investors in order to deliver a full refurbishment.
Jon Thorne, director from B8 Real Estate who represented the landlord, said: “We are pleased to have attracted such a well-known retailer to the building and the deal represents a positive news story at a time when a number of high street retailers are facing difficulties. Over recent years we have advised on the disposal, refurbishment and re-marketing of this building so it is pleasing to have secured a successful letting which also demonstrates the value of modernising second-hand buildings to make them suitable for modern occupiers and enables landlords to secure rental growth.”
B8 Real Estate acted as joint agents with BC Real Estate.