Retailer TJ Hughes eyes growth with return to Liverpool warehouse
North West retailer TJ Hughes has signed a lease on the Liverpool warehouse it vacated in 2011, the year it collapsed into administration.
The discount department store brand headquartered in Liverpool is consolidating its distribution operations from various sites in Speke into a single, 170,000 sq ft building.
It said the move to Space 21 forms part of its continuing growth strategy through new store openings and the growth of its online business.
The move back to the building by TJ Hughes represents a comeback for the retailer following the purchase of the business out of administration by the Juneja family, who have led a successful turnaround of the business.
Jon Thorne from B8 Real Estate who brokered the deal on behalf of the landlord commented:
“We are pleased to have attracted such a well-known retailer to the building and the deal represents a positive new 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.
This transaction demonstrates the strength of the industrial property market which is becoming integral to the success of the economy in the region with the growth of online retailing and manufacturing continuing to generate warehouse-based property requirements.”
B8 Real Estate acted as joint agents with BC Real Estate on behalf of the landlord for the transaction.