Victoria Place development reaches milestone as M&S takes flagship space
The Victoria Square retail development in Woking, Surrey, has been handed a major boost. The Moyallen Group and Woking Borough Council joint venture has secured Marks & Spencer as an anchor attraction to the centre’s 125,000 sq ft of retail space.
Marks & Spencer has taken a 50,000 sq ft space for its regional flagship store, due to open on the 10 November. The store will offer a comprehensive range of clothing, homewares and gifts, alongside an 8,000 square foot food hall and café.
Part of the £700m regeneration scheme in Woking town centre, Victoria Place, which is on track for phased completion later this year, also includes a new Hilton hotel and a residential concept, The Marches, which comprises 429 furnished rental apartments in two towers of 30 and 34 storeys.
Councillor Ayesha Azad, Leader of Woking Borough Council, commented: “With Marks & Spencer… we are beginning to see the real and positive impact of this scheme on Woking town centre”.
The co-owners said Victoria Place serves a catchment of 1.1 million with an available spend of £2.6 billion. Some 41% of Woking’s catchment are from CACI’s ‘Affluent Achievers’ Acorn profile, compared to 31% for the South East. Upon completion of the new development, Woking’s market potential will increase by 11% to £226 million, they noted.
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