Tesco has signed up to open a Homeplus store in Preston.

Homeplus is Tesco’s non food, homewares and clothing concept and it is set to open at Royal London Asset Management’s Capitol retail park in Preston.

It has taken a 35,000 sq ft unit on a 15-year lease with a full-cover mezzanine. Tesco Homeplus will pay an annual rent of £19.50/sq ft equating to £682,500 a year.

Tesco already has around ten Homeplus stores and plans further openings this year.

Dominic Rodbourne, associate director of Savills, said: ‘This letting to Tesco Homeplus provides a first class anchor letting for the development of phase three at Capitol Retail Park.’

Tesco Home Plus was advised by Beaumont Woolf & Co. Savills and Colliers CRE advised Royal London.