Marks & Spencer to Occupy Borders Space
Straits Times Indonesia
British retailer Marks & Spencer will take over the space vacated by the flagship outlet of bookstore chain Borders in Wheelock Place.
Over at Parkway Parade, the management of the mall is in advanced discussions with several parties to fill up the space previously occupied by a branch of Borders.
Wheelock Properties (Singapore) executive director Tan Bee Kim said yesterday that it has received more than 10 inquiries about the 30,000 sq ft space on the first floor.
It chose Marks & Spencer because “it best suited the positioning and overall trade mix for the building”.
“Marks & Spencer is an established brand and retailer with a strong and long-time presence at Wheelock Place,” Tan said, adding that she is confident the brand will become a key destination for shoppers to the mall.
The retailer currently occupies two basement floors in the Orchard Road mall, selling stuff like clothes and confectionery.
It will give up this space and open a flagship store – double the size of its basement units – by the first half of next year, in tandem with the launch of its spring-summer collection.
It will also launch a new homeware section.
Wheelock Properties will revamp the space given up by Marks & Spencer and unveil new retail and food and beverage tenants in the third quarter of next year.
Lend Lease, which manages Parkway Parade, declined to reveal details of the parties keen to take over the 17,000 sq ft space.
It did not rule out the possibility of more than one tenant in the basement space.
Borders closed its Wheelock Place outlet on Aug 16, a few months after its parent company – the debt-ridden Australia-based REDgroup Retail – entered into voluntary administration.
The Parkway Parade branch closed late last month.
Reprinted courtesy of Straits Times Indonesia. To subscribe to Straits Times Indonesia and/or the Jakarta Globe call 021 2553 5055.