Property and asset manager Estama has revealed that retailer TK Maxx has signed as the new anchor tenant at Kingdom Shopping Centre in Glenrothes, Scotland.
Kingdom Shopping Centre, Glenrothes
Contracts have now been exchanged for TK Maxx to occupy a new 29,000 sq ft store, created from the subdivision and reconfiguration of the former Dunnes Stores department store.
Estama has negotiated the surrender of the long lease on the former Dunnes unit, vacant since 2018, allowing the company to take control of one of the shopping centre’s most prominent spaces.
As part of the redevelopment, the former department store will be reconfigured to create the new TK Maxx alongside additional units.
Alex Butler, senior asset manager at Estama, said: “Securing a retailer of TK Maxx’s calibre is a significant milestone for Kingdom Shopping Centre and an excellent example of proactive asset management delivering tangible results.
“The former Dunnes unit had remained unoccupied since 2018 under a long-leasehold arrangement, limiting the opportunities to bring it back into productive use.
“This is a transformational deal which reinforces Kingdom Shopping Centre’s position at the heart of Glenrothes’ retail offer.”
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