Primark has signed a deal to buy the Pavilions Shopping Centre in Birmingham where it plans to open one of its largest stores.
Primark bought the Pavilions centre, which covers about 250,000 sq ft, from the UBS Triton Fund. It plans to open a four storey floor, which could span across 150,000 sq ft, which will replace its smaller store in Birmingham in New Street. Staff from New Street will transfer to the Pavilions store.
The Pavilions is home to a number of retailers, some of which will remain in the centre as Primark’s tenants while others will relocate, the retailer said.
Primark began discussions on the deal in October last year, as revealed by Retail Week.
The fund was advised by property agent Savills and retail property specialist Kitchen La Frenais Morgan.
Primark hopes to begin construction around the middle of 2015.
A Primark spokesperson said: “We are delighted to demonstrate our commitment to Birmingham and our customers. We hope to build one of our biggest stores in this important city, and look forward to bringing the best of fashion, the best of everyday clothing and the best of homeware to our customers at the best value on the high street.”