BHS is preparing to open its first out of town store in Northern Ireland.
The retailer has signed up to take 18,000 sq ft (1,700 sq m) at Axa Real Estate’s Holywood Exchange retail park in Belfast on a 10-year lease on a base rent of £189,000 pa plus turnover top up. The store is scheduled to open in time for Christmas.
Located near the George Best Belfast City Airport, Holywood Exchange comprises over 630,000 sq ft (58,500 sq m) of retail space and is home to the only Ikea and Decathlon stores in Northern Ireland. Other key tenants at the scheme, which opened in 2003, include B&Q, Sainsbury’s, Next and Harvey Norman.
Duncan Mathieson, Managing Director of Realis Estates – which asset manages Holywood Exchange on behalf of Axa Real Estate Investment Managers – said:
“The arrival of Bhs will further strengthen the tenant line-up at Holywood Exchange and represents the second landmark deal at the retail park this year. Decathlon chose Holywood Exchange for its debut in Northern Ireland in January and now BHS is preparing to open its first out of town store in the country.”