Tk Maxx recommits to Norwich’s Castle Quarter

Tk Maxx has recommitted to Castle Quarter after renewing its lease at the Norwich scheme.

The clothing and homeware retailer has penned a new ten-year lease – with a break after five years – for its 23,000 sq ft store.

The signing is reflective of Castle Quarter’s updated leasing strategy, which looks to introduce social, leisure, and lifestyle operators whilst retaining its core retail offering, which includes brands such as Boots, Flying Tiger, and The Entertainer.

This repositioning has brought competitive socialising brands such as Boom Battle Bar, Putt Putt Social, and Escape Hunt to complement the leisure offering at Castle Quarter, which is anchored by a Vue Cinema. The cinema operator recently recommitted to the scheme for another 20 years.

The shift towards leisure and social has seen an uptick across footfall, dwell time, car park usage, and occupier turnover, with at least 75% of occupiers at Castle Quarter reporting higher year-on-year trading figures.

Will Ashdown, asset manager at RivingtonHark, said: “What makes Castle Quarter such an attractive destination is the combination of leisure, social and retail it has to offer visitors, and TK Maxx is a key part of that mix. We are really pleased to see it recommit to Castle Quarter, demonstrating its confidence in the scheme and the success of the repositioning that we have successfully implemented over recent years.”

Roche and Jamieson Mills are the retained agents at Castle Quarter.