Marks & Spencer to open flagship stores in Bristol and Bath
M&S is set to return to Bristol city centre with a new 80,000 sq ft flagship full-line store in Cabot Circus.
The retailer says the store will be backed by £21 million of investment and should create up to 150 jobs.
But that wasn't the only good news for the South West. M&S has also revealed that it is relocating its Bath store from Stall Street to an 83,000 sq ft store in SouthGate Shopping Centre. The new Bath store represents a £17 million investment in the city.
The Bath move is part of the retailer’s store rotation strategy to make sure it has the right stores in the right place. At its recent full-year results, the retailer announced plans to open up to four new full-line stores and nine new foodhalls across the UK in the current financial year.
M&S will work with Bath & North East Somerset Council on the future use of the current M&S in Bath.
Darren Richards, Head of Real Estate at British Land, which owns the SouthGate shopping centre, said: “SouthGate’s prominent city centre location and strong national transport links create a compelling offer for our occupiers, and following this letting we are delighted that the scheme is now fully let. Marks and Spencer is a great retailer with whom we continue to work closely as they expand their offer across our retail portfolio. They will be a brilliant addition to the strong line up at SouthGate.”
Bath & North East Somerset Council said: “We welcome this continued investment in our vibrant city which has a fantastic retail offer. The great location of Bath and proximity of a number of tourist attractions has seen strong demand from a mix of retailers coming out of the pandemic and the council is committed to supporting them. We look forward to working with M&S on the future of the current store in Stall Street.”
M&S CEO Stuart Machin, who announced the plans at the retailer’s AGM today in response to a shareholder question, said: “It’s brilliant to be announcing our return to Bristol city centre today. At Cabot Circus, we’re able to create a flagship store which delivers the best possible shopping experience for customers and showcases the very best of M&S. Our store rotation programme is all about ensuring we have the right stores in the right place and with the right space to excite and inspire our customers, including in city centres. This £21m investment will allow us to do just that while expanding our footprint across the South West."
Commenting on the Bath move, Stuart added: "We’ve seen great results so far where we have relocated stores, in city centres like Liverpool and Birmingham, helping us to attract new customers and giving us the confidence to go faster with the strategy.”
As it stands, M&S currently has more than 45 stores across the South West, employing more than 4,000 people and working with more than 1,100 farmers in the region. This latest investment builds on the £6 million invested in its South West stores over the past three years.
Hammerson CEO, Rita-Rose Gagné, said, “We are delighted to continue expanding our partnership with M&S in Cabot Circus, having seen the positive impact of their presence across our other destinations. M&S is a brand that resonates with our core catchment areas and this new store will support our strategy to create a leading destination, thriving at the heart of Bristol city centre.”
