TK Maxx to open 18,000 sq ft store in Derby

Planning permission has been submitted for a new TK Maxx store on Albion Street in Derby.

The new store will be in addition to TK Maxx’s premises at the Kingsway Retail Park. The Albion Street store will see three existing units merged to provide a 18,000 sq ft, two-storey outlet.

Following planning approval, refurbishment works will start in late Spring 2017, with fit-out works to be carried out in late 2017/early 2018. The store, which will create 35 jobs in the city, is likely to be trading by late 2018.

Redefine International, a FTSE 250 UK REIT, purchased the east side of Albion Street in 2016 with plans to create a space suitable for an anchor fashion retailer, and was supported by Marketing Derby and Derby City Council in securing this latest investment.

Martin Rawson, deputy leader of Derby City Council, said: “We welcome the news of further investment on Albion Street. The St Peters Quarter, of which Albion Street is part, was identified in the Derby City Centre Masterplan as a key site for regeneration.

“This investment to help reinvigorate this area announced since businesses voted to reinstate the Business Improvement District. The City Council will soon be investing in the public realm in and around the area as part of those improvements.

“Our officers worked closely with Redefine International and Marketing Derby to help secure this investment for the city.”

John Forkin, managing director of Marketing Derby, said: “This new investment will act as a magnet for other retailers, enhancing Albion Street as a destination for retail in the heart of the city.

“With the intu centre attracting 23 million visitors a year, and the Cathedral Quarter receiving the 2016 Great British High Street Award, Derby’s retail offering is proving resilient strong. It’s great to see more investment coming helping to lift the St Peters Quarter.”

TK Maxx has 407 stores throughout Europe, selling clothing, homeware and giftware.