Contracts have been exchanged and the retailer will continue to trade from its existing unit.
The renewal of the lease by Primark is indicative of brands’ continued confidence in physical retail, despite the recent challenges posed by Covid-19. This is particularly relevant to the ‘halo effect’ provided by flagship stores in high footfall locations. It is also testament to the unique strength that centres like intu Watford continue to offer retailers, including expert assistance with safe management of space as consumers return to shops.
The news follows a number of new openings at the centre over recent months, including that of luxury watch brand Tag Heuer in July and international retailer, Uniqlo at the end of 2019.
intu Watford is a leading retail and leisure destination, typically attracting around 16 million visits from consumers per year. In September 2018, it significantly enhanced its offering with the unveiling of a 380,000sq ft, £180M extension, taking the total centre to 1.4 million square feet. The new space plays host to a range of exciting retail and leisure brands, including Hollister, Mango, Hugo Boss, Cineworld and Hollywood Bowl. Centre footfall increased by 15 per cent in the first full year of trading following its opening.
