London’s Oxford Street is set to get a major boost after a popular off-price retailer is gearing up to open its second site on the retail drag.
Tk Maxx, which sells discounted designer goods and homeware, will open a 22,500 sq ft site at 508/540 Oxford Street, W1, near Marble Arch.
This will be TK Maxx’s second store on Oxford Street, having opened their first site on the other side of Oxford Circus five years ago.
The lease was announced by GPE, formerly Great Portland Estates, this morning.
It will be seen as a huge boost for the western side of the street, after it was infested with illicit American Candy Stores during the pandemic.
Budget chemist Superdrug has also committed to another 10 years at its site in Marble Arch.
Marks and Spencer is also plotting a revamp of its flagship site in the area as well, which plans to include offices and gym.
Sarah Goldman, head of retail at GPE, which leases the building occupied by both retailers, said: “We are thrilled that TK Maxx has selected Mount Royal for its latest London flagship, and that Superdrug has renewed its commitment with us for another 10 years.
“Both deals are a positive reflection of the growing investment into the western end of Oxford Street and contribute to the street’s ongoing retail transformation.”
She added: “The location speaks for itself, as these retailers are set to join other big-name brands and attractions including Primark, Frameless and the recently signed Moco Museum.”
GPE has a further 20,000 sq ft of prime retail space under offer at the western side of Mount Royal, with further deals expected later this year.