24 Apr 2013 15:15
For Immediate Release 24 April 2013
LXB Retail Properties Plc
LXB Secures Debenhams Pre-Let for Stafford Town Centre Development
LXB Retail Properties Plc ('LXB') announces that Debenhams will help to anchor LXB's retail development in Stafford town centre.
Taking a 56,000 ft² full-line store offering menswear, womenswear and homewear, Debenhams is the second pre-let for the development of the town centre site and it will be the retailer's only store in the town. The new store is also expected to create in the region of 70 new retail jobs for the area.
The £50m centre will create space for new fashion and homeware brands and substantial improvements to the external environment and parking facilities of the town centre.
A planning application reflecting the latest configuration of the development has recently been submitted and is due to be determined shortly.
Carl Barrand of LXB Adviser LLP commented:
"Attracting one of the UK's most successful department stores demonstrates confidence in both LXB's vision for retail in the town centre and the consumer catchment. Having a full-line Debenhams in Stafford alongside the proposed new M&S store will retain retail spend within the town and reduce the spending leakage to other regional destinations."
Gareth Dougherty at Debenhams commented:
"We are pleased to have at last secured a store in Stafford as we have had a long standing requirement for representation in the town centre for a number of years. This opportunity, which is the only available and suitable one which meets our floorspace requirements in the town centre, continues the evolution of this exciting multi-channel format. Furthermore, the scheme with its accessibility and road network links allows us to penetrate the wider Staffordshire catchment. We have worked closely with LXB to deliver what we both believe will be the evolution of a shopping centre into a fully-fledged retail destination".
Once open, the Debenhams store in Stafford will bring designer names at High Street prices to the local community. It will stock its famous brands including H! by Henry Holland, Principles by Ben de Lisi, J by Jasper Conran, Star by Julien Macdonald alongside a beauty hall housing an extensive range of big brand names such as Lancôme, Estee Lauder, Clarins, Clinique and Benefit.
ENDS
For further information please contact:
LXB Adviser LLP Tel: 020 7432 7900
Tim Walton, CEO
Brendan O'Grady, FD
Buchanan Tel: 020 7466 5000
Charles Ryland/Sophie McNulty