Limited interest in Kettering's old M&S

There's no takers on the horizon for Kettering town centre's former flagship M&S store, more than two years after it closed.

The retail giant shut its High Street shop in August 2018 in what was a devastating blow for the town.

The unit, owned by US firm Fortress Investment Group, was soon emptied and has been on the market with estate agents Savills since.

But there's been limited interest since then, although the Northants Telegraph can reveal discussions were held with discounter Poundstretcher months before it entered into a company voluntary arrangement (CVA).

The unit boasts of having more than 40,000 sq ft of space over three floors but it's held on a full repairing and insuring lease until March 2027 - meaning any tenant would take on all of the costs for repairs and insurance until then.

It's also understood the unit has asbestos which would be costly to remove.

Kettering Council's opposition leader, Cllr Mick Scrimshaw, said: "It's terrible, if you think back to when we had the M&S it was such a linchpin of the town.

"People literally travelled here to go to M&S and then went into other shops and they don't do that now.

"We need that big anchor shop to bring in trade and losing it was a devastating blow."

Northampton Borough Council recently bought Northampton's old M&S unit in Abington Street for £1.45m with plans to create commercial units on the ground floor with flats above.

There have been calls on social media for Kettering's old M&S store to be turned into a large indoor market and for Kettering Council to buy it.

Cllr Scrimshaw said the council should consider looking into the idea.

He said: "I certainly think there's no harm in looking into it. Clearly it would be a massive capital investment.

"Whether it could be done or not I don't know, but let's find out before we just throw the idea out."

A Kettering Council spokesman said: "Kettering Council strives to do the best for the towns within the borough, wherever it is within our gift to do so.

"However, we do not own the property in question and, therefore, have no way in which to influence its usage.

"Nevertheless, we will, of course, happily direct interested parties to the commercial agents in question."

Anyone interested in the unit should contact Savills here.

Message from the editor:

Thank you for reading this story on our website. While I have your attention, I also have an important request to make of you.

In order for us to continue to provide trusted local news on this free-to-read site, I am asking you to also please purchase a copy of our newspaper.

Our journalists are highly trained and our content is independently regulated by IPSO to some of the highest standards in the world. The dramatic events of 2020 are having a major impact on many of our local valued advertisers and consequently the advertising that we receive.

We are now more reliant than ever on you helping us to provide you with news by buying a copy of our newspaper.

Thank you