TK Maxx to open Church Street store in spring 2010

Value retailer TK Maxx is to begin fitting out its new premises in the George Henry Lee Building after agreeing a letting with Grosvenor.

The retailer had been linked with a move into the St John's centre owned by Land Securities until that developer put its plan for the upgrade of the tired centre on hold.

TK Maxx has signed a 15-year lease and will trade from 30,000 sq ft over three floors, stocking 50,000 items from its womenswear, menswear, kidswear and home ranges.

Lucy McGonigle, spokeswoman for TK Maxx, said: "We are very excited to be opening up a new store in the heart of Liverpool's shopping district. I'm sure customers will be surprised at how much we've changed, with a stylish department store feel packed with designer bargains it's going to be hard to resist!"

The George Henry Lee Building has been empty for more than a year since John Lewis moved to an anchor store in Liverpool One with Grosvenor.

Grosvenor was obliged under planning conditions to find new occupiers for the large department store premises and has already helped DIY retailer Rapid move into the back half of the building by acquiring its original premises on Renshaw Street.

TK Maxx, part of the TJX Europe group, is relocating from upper floors above Tesco on Parker Street. The group trades from 238 stores in the UK.

Grosvenor confirmed the deal had completed but declined to disclose the sale price.

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