Popular discount retailer TK Maxx has secured a rare three-storey unit in Cambridge city centre by agreeing to lease the former Borders book store in Market Street.

TK Maxx, through its parent company TJX UK, has taken a new 15-year lease on the 47,598 sq ft store from landlord Aegon UK Property Fund. It will pay an annual commencing rental of £650,000, rising to £747,500 in year five.

The former Borders unit, at 12-13 Market Street, became available in January this year following the bookstore chain’s collapse into administration in the UK. It is in a prime area of Cambridge city centre close to M&S, Monsoon and Fat Face.

Tim Hance, Head of In-town Retail at King Sturge who advised Aegon, says: “Borders’ administration provided TK Maxx with a rare opportunity to acquire a store of this size and configuration in Cambridge city centre. The layout over three floors is particularly well suited to TK Maxx’s wide range of products and they will be a lively addition to this busy trading area.”
CBRE advised TJX UK.

For further information please contact:
Tim Hance, Retail Agency Partner, +44 (0)20 7087 5599