Ikea’s parent company Ingka Centers has announced the acquisition of Churchill Square, a shopping centre in Brighton, UK.
Churchill Square currently benefits from a quality mix of flagship retail and dining options that has traditionally attracted more than 11 million visitors annually.
The company plans to add a new Ikea City Store on the site of the former Debenhams.
Ingka Centres intends to develop Churchill Square’s strong retail fundamentals by adapting its retail offer to community needs and to invest in Churchill Place’s infrastructure to play a part in supporting Brighton and Hove City Council’s drive to establish a thriving local circular economy. Future investments will include improvements to energy efficiency to bring the asset up to BREEAM excellent standards while a wider roadmap of initiatives is planned to reflect Ingka Centres global sustainability commitment.
Cindy M.G. Andersen, Managing Director of Ingka Centres: “Brighton is known as a welcoming and progressive city, and it is our privilege to deliver a revitalised meeting place of which the community can be truly proud. This addition to our portfolio represents a perfect synergy with our global expansion strategy and commitment to sustainable living.”
Peter Jelkeby, Country Retail Manager and Chief Sustainability Officer at IKEA UK & Ireland said: “We continue to transform as we respond to our customers’ needs and dreams, today and tomorrow. As one of the most innovative and exciting markets in the world for retail and e-commerce, we will step up our omnichannel investments, both in Brighton and the rest of the country, with a simple goal: to become more customer centric, so that people can shop with us for a better, more sustainable life at home, whenever, wherever and however they choose.”
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