DISCOUNT retailer B&M is set to open a major new superstore at Sprucefield.
The variety retailer, which has 32 stores across the north, is due to open in a 28,604 sq ft unit at Sprucefield Retail Park later this summer.
The Irish News can confirm that the discount chain is the first new tenant of new owners NewRiver REIT, which acquired the retail park in a £40 million deal in November 2019.
The transaction included 231,000 of retail space and 18 acres of development land next to the M1 motorway.
Two of the units were empty at the time of the deal: The former Currys/PC World unit and a large unit left vacant by the collapse of Toys ‘R’ Us in 2018.
“We are delighted to confirm that we have a secured a new occupier for the former Currys/PC World unit," said Charles Spooner, head of capital markets at NewRiver REIT said yesterday.
"We are pleased to announce that B&M are taking the 28,000 sq ft store, with the new store expected to open its doors in late summer 2020.
"B&M is a first-class operator and will be great new addition to the park, complementing the existing line-up and needs of the local community.
"We are especially pleased to have been able to continue working with B&M and progress this exciting new opening against the backdrop of an extremely challenging economic landscape. We working hard to secure a new occupier for the former Toys R Us unit and will update on that in due course as and when we are in a position to do so.”
NewRiver’s portfolio now includes 33 shopping centres and 25 retail parks across the UK. In 2014 it bought the Abbey Centre complex in Newtownabbey for £62.6m.
The real estate investment trust already has a long-standing relationship with B&M.
Meanwhile, German supermarket chain Lidl has been given the official go ahead to develop a unit at the Holywood Exchange retail park in east Belfast.
In an unusual move, the retailer is taking on a 21,500 sq ft unit previously occupied by Wrights Sofa Land.
The discounter has now secured planning permission from Belfast City Council to construction a rear extension and loading bay at the retail park.
Industry monitor Construction Information Services (CIS) Ireland has put the estimated value of the project at around £2.6 million.
