Waterstone’s is to return to the east end of Oxford Street as it prepares to open a store next month, close to where shop rival Borders closed in July.
The HMV Group-owned book chain has secured the former Evans store at The Plaza shopping centre.
The 4,000 sq ft store covers two floors and represents Waterstone’s return to the east end of the famous street. The retailer had to exit its previous store at the start of the year to make way for London’s new transport link, Crossrail.
Waterstone’s aims to capitalise on the gap left by Borders, which sold the lease on its prominent Oxford Street flagship store to New Look as part of its restructure. The closure of Borders meant there was no high street book chain left on this part of Oxford Street, although WHSmith has a store at the rear of The Plaza. Waterstone’s has a store at the west end of the street.
Waterstone’s managing director Gerry Johnson said: “The location in The Plaza will allow us to capture the Soho and Oxford Circus markets.”
Retail Knowledge Bank senior partner Robert Clark said Waterstone’s presence “brings diversity to Oxford Street and Waterstone’s will benefit from the substantial footfall and related exposure”.
However, he added: “There’s an element of risk. There are issues at that end of Oxford Street. Borders presumably couldn’t make it work.”
➤ Borders has launched a dedicated entertainment website, Entertainment.borders.co.uk
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