M&S ‘interested’ in Lidl Newcastle base

M&S ‘interested’ in Lidl Newcastle base

8 January 2020

A NUMBER of leading retailers, including Marks and Spencer, are reportedly interested in investing in Newcastle.

In papers submitted ahead of today’s planning meeting, it is claimed that if Lidl secures planning permission for its new store, it will seek permission to sub-let its current base at Railway Street to another retailer.

Commercial property consultants CBRE — who act on behalf of Lidl — say it has undertaken an initial exercise to test the market for potential replacement occupiers of the current Railway Street site.

CBRE says that within Newcastle town centre, it is aware of several brands who have what is described as an ”active requirement” for the area.

The commercial property consultants said M&S Simply Food, Home Bargains and B&M Bargain have expressed an initial interest in Lidl leaving Railway Street.

“It would appear reasonable to assume that a replacement occupier could be secured for this property,” CBE’s submission continues. “None of these retailers are currently represented in Newcastle.