Marks and Spencer is on the brink of revitalising its vacant Birkenhead store. The iconic retailer, which closed this location in 2018, is deep in negotiations with a potential new tenant.
This move signifies a crucial step in addressing the long-standing vacancy at the Pyramids Shopping Centre, promising new possibilities for the local community.
Negotiations in Progress
Marks and Spencer has confirmed advanced discussions with a potential tenant for its vacated Birkenhead venue. The iconic retailer had shut its doors in the Pyramids Shopping Centre back in 2018. Aside from a brief stint as an art gallery, the unit has stood largely unused.
According to details from a 2023 property portfolio review, Marks and Spencer’s lease on the property runs until 2042, with an annual rent set at £235,000. Recently, the premises became a topic of local debate after a Birkenhead Market merchant proposed transforming it into an alternative marketplace.
Shift Away from Market Proposals
Marks and Spencer’s correspondence indicates a shift away from any market-related sub-leasing plans. A company spokesperson remarked, “We have been working hard to find an alternative occupier for the site and have been open to approaches throughout. We are now in advanced negotiations with a potential occupier and hope to be able to share more news shortly.”
The store is situated off St Johns Square in the bustling Grange Precinct. Back in 2019, when Wirral Council considered establishing a new market there, the concept was “generally popular with traders.” However, the financial implications were deemed too high.
Financial and Logistical Challenges
Marks and Spencer agreed to sublease the unit to an art gallery for two years, although this later changed. Earlier this year, a Birkenhead Market trader received an email stating that Marks and Spencer were open to the idea of a new Birkenhead Market operating from the premises, provided terms and conditions were agreed upon.
The licence for the market has been postponed for months, with a hearing date scheduled for October 11. However, the absence of an agreement with M&S is likely to hinder the plans.
On July 26, Marcus Shaw, Wirral Council’s director of regeneration, wrote a letter to Mr Featherstone requesting him to abandon the plans after M&S informed the council they did not intend to proceed with a market.
“I have been informed by Lucy Cousins, estate manager of Marks and Spencer that they do not intend to proceed with a sub lease to you,” Shaw stated.
, it therefore appears that the property is not available for your proposed market.”
Community and Trader Reactions
The council’s acquisition of the shopping centres reignited hopes for a new market, but resistance remains. Traders are concerned that the new market’s trading space will be reduced to just 400 square metres.
At a recent meeting, Cllr Tony Jones mentioned that the council was engaging with traders to gauge interest in the forthcoming market plans. He remarked, “Unlike other redevelopments of markets, the council also has ownership of a number of retail units in the area.”
Featherstone’s Resilience
Despite the challenges, Mr Featherstone remains determined to proceed with his application. He asserted that 50 town centre businesses have responded positively to his proposals. Speaking to the ECHO, he said, “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.”
His assertion underscores the resilience and determination of local traders to maintain their longstanding business traditions in Birkenhead.
The potential revival of the Birkenhead store by Marks and Spencer heralds a new chapter for the Pyramids Shopping Centre.
While financial and logistical challenges remain, the advanced negotiations with a new tenant reflect a positive direction towards utilising this significant retail space.
