Lendlease and Invesco Real Estate will lease a 37,500 sq ft unit to retailer TK Maxx at its Queensgate shopping centre in Peterborough.
Work on the store will begin in March 2020, and is set to open in mid-2021.
In 2019 John Lewis invested £21m to enhance its layout across 134,942 sq ft of prime retail space. The new store forms part of a wider £60m extension of Queensgate, anchored by a 10-screen Empire Cinema.
The extension will provide a further 77,000 sq ft of retail and restaurant space, which is set to be completed in autumn of 2021.
“This is an extremely exciting period for Queensgate, during which a significant investment is being made in the centre,” said Guy Thomas, head of retail at Lendlease.
“Having new retailers signing up to join us is a testament to our aim of successfully positioning Queensgate as the dominant retail space in its catchment area.”
Gary Roundtree, partner and head of branch at John Lewis & Partners Peterborough, added: “The revamp was a significant investment and the largest spend on a store across our shop estate last year. Customers want more than just products, they want a destination and the new-look shop offers just that, with service-led experiences at its heart.”
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