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Retail

TK Maxx to open new Scottish flagship

By Danielle Wightman-Stone

25 Jul 2016

TK Maxx, the label-for-less fashion and homeware retailer, is set to open a new Scottish flagship store at the St Andrew Square development in Edinburgh in August.

Marking the largest retail opening in Edinburgh since 2011, TK Maxx will open a 30,000 square foot unit within the St Andrew Square development, located on South St David Street.

TK Maxx will be the first retailer to open its doors to customers on August 18 at the new development, owned by Standard Life Investments, with a number of restaurants including Wahaca, STK, Dishoom, The Big Easy and Iberica all set to open over the coming months.

Standard Life Investments and joint venture partners, Peveril Securities, started work on the 165,000 square foot St Andrew Square development in 2014. The work is due to complete later this year, creating a mixed-use scheme with 100,000 square foot of office space and the remaining 65,000 square foot made up of retail, restaurants and residential.

David Stewart, fund manager of the Standard Life Investments Pooled Pension Property Fund said: “As we near the completion of the St Andrew Square development we’re excited for the first and largest retail tenant at the scheme to open its doors to customers in Edinburgh. Securing such a large pre-let is testament to the quality of the location, and the true mix of retail, leisure, office and residential space makes it standout from developments in other cities.”

Ralph Jones, managing director of Peveril Securities, added: “The fact that TK Maxx has chosen St Andrew Square for its central Edinburgh store demonstrates the prime location and quality of the development.”

Image: courtesy of TK Maxx