Jaeger owner Harold Tillman has secured the future of his department store business Allders in Croydon after joining forces with landlord Minerva to create a revised and relocated shopping centre scheme in the town centre.
Tillman, who was awarded a CBE in the Queen’s Birthday Honours last week, said he had finalised a deal with the property firm which would see him personally invest in the proposed scheme. Allders will become the anchor tenant.
Minerva recently failed to win planning consent for a shopping centre in a different part of the town to Allders which threatened to overshadow the UK’s largest independent department store. The centre would have been anchored by John Lewis.
Tillman said Minerva had lost consent because the development was deemed too large, but that he had worked with the firm to create a centre with Allders at its heart.
Tillman told Drapers: “We have a good relationship with Minerva and I’m happy to work with them. We have 20 years left on the lease and we are going to build a shopping centre around Allders. The store will continue to trade from 175,000 sq ft but we’ll convert some ancillary and storage space into new retail units.”
Tillman said the scheme would take between three and five years to complete.