Barnstaple’s Green Lanes Topshop is set to close
PUBLISHED: 13:09 21 November 2016 | UPDATED: 09:41 22 November 2016
Shopping centre owners say they were unable to agree commercial terms with Arcadia over store’s relocation
Barnstaple’s Green Lanes Topshop is due to close ahead of a major refurbishment of the shopping centre in the new year.
Owner Arcadia Group confirmed the store will close on Saturday, January 14.
A spokesperson said the firm was not looking for alternative premises in the town and was seeking to offer staff alternative employment within the group.
Green Lanes owner Rockspring Property Investment Managers LLP said efforts to relocate the clothing store within the centre had been unsuccessful.
Rockspring fund manager Simon West said it was unable to agree commercial terms with Arcadia over a new store.
“We would ideally like to keep Topshop in Barnstaple, but without the capital commitment from Arcadia it is unfortunately not feasible.”
“We are, however, speaking to a number of other potential occupiers that are excited by our plans for the shopping centre and we hope to announce another significant addition soon.”
Work to refurbish the lower High Street entrance to Green Lanes is set to start in the new year. A large section of the existing 1980s building will be removed and replaced with a new contemporary, glazed structure.
The centre will also be re-branded as part of the modernisation.
Rockspring said a programme of further mall refurbishment work would be rolled out ‘in due course’.