Gifts Today magazine

Waterstones books “hugely profitable” TCR deal

Waterstones expects its Tottenham Court Road store to be “hugely profitable” as it embarks on further bricks-and-mortar expansion, reports Retail Week.

The retailer has chosen the Tottenham Court Road site as it seeks to benefit from the regeneration brought about by the opening of Crossrail and renovation of Centre Point.

Waterstones also has plans for a further two or three stores in London over the next 12 months and between 10 and 15 stores nationwide.

Waterstones’ new Tottenham Court Road store will include a basement bar to appeal to the increasing amount of young professionals working in the Fitzrovia and North Soho area.

It is understood Waterstones is preparing to open more bars in pre-existing stores.

The Tottenham Court Road store will be located where independent electricals shops were located and be positioned next to a new Leon outlet and an impending Planet Organic store.

Waterstones London regional manager Luke Taylor said: “It used to be quite a grim bit of Tottenham Court Road, but there is a completely different crowd there with lots of young professionals appearing.

“I expect the shop to be hugely profitable, it is expected to be one of our top 20 shops in the country”.

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