Value fashion giant Primark is in discussions to acquire the Pavilions shopping scheme in central Birmingham in order to open a huge store.
Property sources told Retail Week that Primark is looking to open a huge store that could cover up to 200,000 sq ft. Primark’s largest store in the UK is thought to be its 150,000 sq ft shop located on Manchester’s Market Street.
The whole Pavilions centre covers about 250,000 sq ft, and is owned at present by the UBS Triton Fund.
Retailers with existing stores in the Pavilions are seeking to relocate elsewhere within Birmingham, sources have indicated. It is not known how much of the centre Primark is looking at acquiring or how many of the existing retailers would have to move under the retailer’s ambitious plans. Retailers in the Pavilions include Marks & Spencer, H&M and Waterstones.
One source told Retail Week that the deal to buy the centre is “well on its way”. However, sources suggested that UBS had made no decision yet on whether to sell the centre and is thought to be examining a range of options to reposition it.
Primark operates a store on New Street in Birmingham, round the corner from the Pavilions. It is not known if the fashion giant plans to close this store or keep it open should the Pavilions deal come off.
Primark and UBS declined to comment.