Morrisons has signed a deal to run a massive new store at the Locks Heath Shopping Centre – almost twice the size of the existing Co-operative supermarket building.
Morrisons has agreed to build a new store in the Locks Heath Shopping Centre
The food giant has agreed to lease a 71,000 sq ft store in Locks Heath which will dwarf the Co-operative’s existing 40,000sq ft building.
Locks Heath Centre owners NewRiver Retail announced the agreement today (May 21) for Morrisons to sign a 25-year term as the anchor store in an extended centre.
NewRiver Retail said it had signed a significant pre-lease agreement with the supermarket group, but the agreement was conditional on getting planning permission from Fareham Borough Council and an exact location within the centre being identified.
“The owners believe the Morrisons store would be a significant enhancement for the area with the potential to transform the shopping experience and drive footfall to other retailers in the centre,” the NewRiver announcement said.
Allan Lockhart, Property Director at NewRiver said: “NewRiver is delighted to have signed this important agreement with Morrisons which will anchor the enlarged Locks Heath Shopping Centre.
“We are now planning to begin the process of presenting our masterplan for the Centre to the local authority. The agreement is a significant endorsement by a leading UK food retailer and marks a positive step forward in the progression of our enhancement plans for the shopping centre.”
Ian Goodridge, manager for Locks Heath Shopping Centre said: “I am very excited by this announcement. This will provide Locks Heath Shopping Village with the ability to provide quality convenience shopping for the local community and generate footfall to sustain and support the unique blend of independent retailers which are so important to the distinctive character of this local Shopping Village.”
The Co-operative declined to comment.