LAKESIDE, one of the UK’s most popular retail and leisure destinations, owned by property company SGS, is pleased to announce that M&S has signed to open a new store at the centre, due to launch in Spring 2023.
Lakeside’s existing M&S store will move from its current location to the new unit (previously Debenhams), covering 98,000 sq ft of net selling space. The store will offer customers a wide range of M&S products across its new Foodhall and Clothing & Home departments.
The relocation will increase the visibility of M&S in the centre, as well as from the surrounding road network. It will see the creation of a new, enlarged portal entrance from an upgraded car park, granting direct and improved access to the M&S Foodhall, as part of a £20 million investment by Lakeside.
The move comes as M&S continues its store estate transformation, investing to make sure they have the right stores in the right locations to offer customers a brilliant shopping experience.
Lakeside is a leading retail and leisure destination, situated in Essex, covering 1.6m sq ft. The centre sees millions of shopper visits per year and is home to over 250 shops in total, with leading brands such as Zara and H&M also holding space.
The unit which M&S vacates also presents a new mixed use development opportunity, ideally situated between the mall and food & beverage boardwalk, fronting the lake and adjacent to the centre’s award-winning leisure extension, which opened in 2019.
Steve Gray, Head of European Retail Asset Management at Global Mutual, comments:
“We are incredibly excited that M&S has decided to further invest in its offer at Lakeside. The retailer is a long-standing tenant and partner, and a brand much loved by our visitors – with a loyal following.
“The new store will significantly increase M&S’ prominence within the centre, as well as accessibility – together acting as key footfall drivers.
“In a fast-changing retail landscape, brands are investing to optimise and drive maximum value from their physical offer. M&S’ move reflects this and is indicative of wider demand for prime space like ours here at Lakeside.
“M&S’ former unit will present another compelling opportunity, surrounded by a host of great brands and in close proximity to the centre’s leisure offer.”
Nick Pucci, Regional Manager at M&S, said:
“We are really excited to be relocating to a new store at Lakeside. Whether you’re looking for style inspiration in our Clothing & Home departments or great value, trusted quality M&S produce and family meal options in our new Foodhall, you’ll be able to choose from the very best of M&S in our refreshed new store.”