Belfast Telegraph

Retailer Peacocks spreads its wings with new store

By Margaret Canning

Discount retailer Peacocks is on the march in Northern Ireland as it makes a comeback after its administration.

The brand, which is now part of The Edinburgh Woollen Mill, has opened a 5,000 sq ft unit at Springhill Retail Park in Bangor with the creation of around 20 jobs.

And the firm said it could open another 20 over the next few years.

Springhill is owned by UK retail estate funds Brockton Capital and Pradera in a joint venture.

A spokeswoman for the joint venture claimed the opening was a sign that "the out of town retail market is growing in the UK".

Poundworld also opened in Springhill towards the end of last year.

Duncan Costin, group head of acquisitions at The Edinburgh Woollen Mill/Peacocks, said: "We're delighted to be opening a Peacocks store in Bangor again.

"The stores we've re-opened in Northern Ireland so far have been very well received by the public and are trading successfully. We're also pleased to be able to help boost the local economy by creating nearly 20 full and part time jobs in the town."

He added: "There is certainly room for around 20 more stores over the next two to three years in Northern Ireland, if we can secure suitable premises."

Around 19 Peacocks stores in Northern Ireland out of 29 were closed down when it went into administration in 2012, including two in Bangor. Their administration was the biggest retail collapse in the UK since the demise of Woolworths in 2008.

Jonathan Martin, associate director at commercial property agents Lambert Smith Hampton, which negotiated the letting, said: "There has been a significant growth in confidence in Springhill specifically.

"The scheme is well let, with limited voids and strong retailer interest in the remaining few units."

Springhill now hosts retailers Next, New Look, Heatons, Sports Direct, Peacocks and B&M Bargains, as well as Starbucks.

Pradera director Richard Gore said the business was aiming for an "optimal tenant mix".

"We believe that both Peacocks and Poundworld will trade exceptionally well here and will contribute to the growth and success of the park."


Number of Peacocks stores in Northern Ireland closed during 2012 administration

Belfast Telegraph