Primark is expected to have finalised its deal to buy Birmingham’s 250,000 sq ft Pavilions Shopping Centre for £60m within days.
As previously reported by Drapers, the fast-fashion chain is intending to convert around 150,000 sq ft into a Primark store, with the rest of the centre being sub-let to other retailers.
The new store would be three times the size of its existing Birmingham store, close to New Street Station.
Primark – one of the UK’s fastest-growing fashion chains – is buying the shopping centre from the UBS Triton Property Fund. The fund is being advised by estate agent Savills and retail property specialist Kitchen La Frenais Morgan, according to the Telegraph.
Other retailers in the Pavilions include Marks & Spencer, H&M and Waterstones.