TJ Hughes, the well-known British discount department store brand head quartered in Liverpool, has moved to the new distribution warehouse just off Edge Lane on the outskirts of Liverpool City Centre close to the M62 motorway.
The move involves a consolidation of the retailers warehousing distribution operations into a single building and forms part of their continuing growth strategy through new store openings and the growth of their online business.
The Space 170 warehouse building was previously vacated by TJ Hughes in 2011 and was vacant for a number of years before being acquired by private investors for a comprehensive refurbishment to provide remodelled and refurbished second-hand warehouse building.
The move back to the building by TJ Hughes represents an excellent return to fortunes for the retailer following the purchase of the business out of administration by the Juneja family who have successfully turned the business back around into a growing retail brand.
Jon Thorne from B8 Real Estate who brokered the deal on behalf of the landlord commented:
“We are pleased to have attracted such a well-known retailer to the building and the deal represents a positive new story at a time when a number of high street retailers are facing difficulties. Over recent years we have advised on the disposal, refurbishment and re-marketing of this building so it is pleasing to have secured a successful letting which also demonstrates the value of modernising second-hand buildings to make them suitable for modern occupiers and enables landlords to secure rental growth.
This transaction demonstrates the strength of the industrial property market which is becoming integral to the success of the economy in the region with the growth of online retailing and manufacturing continuing to generate warehouse-based property requirements.”
B8 Real Estate acted as joint agents with BC Real Estate on behalf of the landlord for this transaction.