HMV reveals plans for flagship city centre experiential store

Music and film retailer HMV is understood to be gearing up to open a flagship experiential store in Birmingham city centre.

Sunrise Records, the Canadian company that bought HMV out of administration in February, has signed a five-year lease on 40,600 sq ft at the former IKEA order and collection point at Hammerson’s 31 Dale End, at a rent of £100,000 a year, Property Week reported.

The concept store, called The Vault, would offer customers the opportunity to see and test HMV’s products in an interactive, experience-led space.

HMV’s The Vault was originally a download and streaming music service launched by HMV Canada in 2012, a year before HMV Group went into administration with £176m in debts.

The retailer was bought by Hilco but collapsed again last year and was rescued by Sunrise Records, fighting off competition from retail giants including Mike Ashley