TK Maxx to open second store on London’s Oxford Street as Superdrug extends lease

London landlord Great Portland Estates (GPE) has strengthened its retail offer at Mount Royal on London's Oxford Street, with the signing of a new TK Maxx flagship and an extended lease for Superdrug.

The new two-floor TK Maxx store at 508/540 Oxford Street will add to the off-price fashion, beauty and homeware retailer’s existing location at 203-207 Oxford Street, which has been trading since 2019.

Further to TK Maxx committing to its latest store at Mount Royal, high street health and beauty retailer Superdrug has also extended its retail lease for its 8,000 sq ft store at Mount Royal, committing to another 10 years.

Sarah Goldman, Head of Retail at GPE, said: "We are thrilled that TK Maxx has selected Mount Royal for its latest London flagship, and that Superdrug has renewed its commitment with us for another 10 years.

"The location speaks for itself, as these retailers are set to join other brands and attractions including Primark, Frameless and the recently signed Moco Museum."

The news follows a number of store openings for TK Maxx, including at Braehead Shopping Centre, Atria Watford and Westfield London, as well as Superdrug, which continues to open stores across the UK.

In fact, Superdrug strengthened its brick-and-mortar footprint with the opening of 25 news stores and various refits last year.

The investment formed part of the retailer's online plus offline strategy. As part of this, Superdrug is continuing to enhance its O+O offering, bringing shoppers a "market-leading, integrated experience".