Marks and Spencer is currently engaged in advanced discussions with a prospective tenant for its vacated premises in Birkenhead. Initially closed in 2018, the site has remained mostly unused, apart from a brief period as an art gallery.
According to a 2023 review, Marks and Spencer’s lease on the property will last until 2042, with an annual rent of £235,000. The negotiations mark a significant step towards potentially revitalising the space.
A Look Back: The Store’s Closure and Its Consequences
Marks and Spencer’s Birkenhead store, located in the Pyramids Shopping Centre, closed its doors in 2018. The unit has since stood largely unused. The closure impacted the local retail landscape and left a significant gap in the shopping centre.
Aside from a temporary stint as an art gallery, the property remained vacant. Local merchants and community members have raised concerns about the store’s closure and its effect on the town’s economy.
Property Lease and Financial Implications
According to a 2023 property portfolio review, Marks and Spencer holds the lease on the Birkenhead site until 2042. The annual rent for the property is set at £235,000. This long-term lease has financial implications for potential new occupants.
In 2019, Wirral Council considered converting the store into a new market. The idea was initially popular among traders but was deemed financially unviable due to the costs associated with leasing the property from Marks and Spencer.
Community Efforts and Challenges
The community has made several attempts to utilise the vacant space. One notable effort came from a Birkenhead Market trader, who proposed converting the store into an alternative market.
However, Marks and Spencer’s shift away from market-related sub-leasing plans hindered these efforts. Local florist Alan Featherstone applied for a licence to operate a market from the premises, but the lack of agreement with Marks and Spencer stalled the proposal.
In July, Wirral Council’s director of regeneration, Marcus Shaw, advised Mr Featherstone to abandon his plans. Shaw cited Marks and Spencer’s decision not to proceed with a sublease for the site as the primary obstacle.
Council’s Role and Market Plans
The council has been actively involved in discussions with local traders about the future of the market. Councillor Tony Jones mentioned ongoing efforts to engage traders and gauge their interest in new market plans. The council owns several retail units in Birkenhead, which allows for flexibility in market redevelopment.
Despite these engagements, the council’s plans have faced resistance. Traders expressed concerns about the reduced trading space in the proposed new market, which would occupy a former Argos location.
Jones emphasised that the council is considering traders’ views and is committed to finding a solution that benefits the community. He highlighted the importance of working with the council’s agent managing Birkenhead’s retail core area.
Current Negotiations and Future Prospects
Marks and Spencer spokespersons have confirmed that the company is in advanced talks with a potential tenant. While details remain under wraps, the discussions signify a positive step towards revitalising the Birkenhead store.
Local traders remain hopeful that a suitable agreement will be reached. Despite the challenges, they see potential in the store’s strategic location in the bustling Grange Precinct.
The success of these negotiations could potentially bring new opportunities for the surrounding businesses and boost the town’s economy.
Local Traders’ Reactions and Future Plans
Local florist Alan Featherstone remains determined to continue with his market application. Featherstone highlighted that about 50 town centre businesses have shown support for his market plans, despite the setback from Marks and Spencer’s decision.
Featherstone stated: “As a positive businessman, I know deals aren’t finalised until they’re signed off. It’s been frustrating that the application has been delayed, but I’m still hopeful that the council may yet offer genuine support to their successful and loyal tenants that constitute our community.”
Conclusion
Marks and Spencer’s advanced negotiations to lease the Birkenhead store offer a glimpse of hope for the community. The discussions may mark a turning point for the vacant space, potentially revitalising the local economy.
While challenges remain, particularly regarding the council’s market plans, there is cautious optimism among local traders. The outcome of these negotiations will be closely watched by the community.
Marks and Spencer’s advanced negotiations signal a potential revival for the empty Birkenhead store, which has stood largely vacant since 2018. The community remains hopeful that the revitalisation of this space will boost local businesses and the town’s economy.
The council and local traders face ongoing challenges, but there is optimism that suitable solutions will be found. The advanced talks represent a significant step forward, and the community waits eagerly for further developments.
