Marks & Spencer at Parkway Parade to close after almost 21 years at the mall

British retailer Marks & Spencer (M&S) will close its Parkway Parade outlet on Feb. 16, 2025.

The outlet was opened approximately 21 years ago in May 2004, reported The Straits Times.

Why closing down?

While M&S had yet to publicise its outlet's closure on its social media platforms as of 11pm on Feb. 13, a company spokesperson confirmed the move with ST.

According to the spokesperson, the closure is part of the retailer's ongoing effort to "refine its store portfolio" and concentrate on its online store, as well as key locations in Singapore.

The spokesperson added that the company is "committed" to supporting the employees affected by its decision, and its support measures include offering opportunities for redeployment to other stores or roles where possible.

However, the company did not reveal how many workers will be affected by the closure in its statement, reported ST.

According to Parkway Parade, the M&S store at the shopping centre was the retailer's first premium boutique store in Singapore, featuring an in-store bakery, a coffee-to-go, and a food hall, in addition to its retail offerings.

Following the store's closure, the retailer will operate a total of 11 outlets in Singapore, including at Plaza Singapura, Wheelock Place, and VivoCity.

Not the only tenant leaving Parkway Parade

M&S was not the first business to move out of Parkway Parade in recent months though, despite the shopping centre having become accessible via Marine Parade MRT station in June 2024.

According to ST, at least six other businesses have left Parkway Parade over the last 12 months, including Ole Ole, a Malay kueh stall that operated at the shopping centre for over 30 years, a 7-Eleven convenience store, and a Dyson demo store.

In September 2024, homegrown restaurant chain Putien also said its outlet at the shopping centre had ceased operations after its lease expired.

Prior to the outlet's closure, it had operated at Parkway Parade for almost 15 years.

But closures of a chain restaurant are not unheard of.

In June 2023, chain sushi restaurant Sushiro, located at the basement, also announced its outlet's closure at the mall.

Why leaving?

Speaking to ST, the owner of Gadget Solution said he decided to close down his electronics store after nine years because the rent had allegedly jumped 30 per cent to S$14,000 when his lease expired in January 2025.

This made the rental "unsustainable" as the opening of Marine Parade MRT station did not bring about a visible increase in footfall.

Accessibility concerns were also highlighted, as Parkway Parade had closed its basement temporarily to facilitate the construction of an underground linkway between the MRT station and its basement.

The owner of Pavilion Optics and Contact Lens Centre said he has seen his monthly rental go up from S$3,500 to S$15,000.

The store was opened at the shopping centre over 40 years ago in 1983.

Tenant occupancy at Parkway Parade remains 'high': Lendlease

In response to Mothership's queries, a spokesperson from Lendlease, the company that manages Parkway Parade, said the shopping centre "continues to enjoy high occupancy".

According to the spokesperson, this achievement is driven by Lendlease's commitment to "curating a dynamic tenant mix that meets the evolving needs" of its shoppers.

Recently, Parkway Parade also welcomed several new tenants, including Tim Hortons, Mister Donut, and Potato Corner, amongst others.

Footfall remains 'strong'

At the same time, the spokesperson said footfall at the shopping centre "remains strong", with the opening of Marine Parade MRT station bringing "significantly improved accessibility".

According to the spokesperson, Lendlease has observed "a positive trend in visitor numbers" and expects the enhanced connectivity to benefit both tenants and shoppers.

Enhancing & maintaining connectivity

Looking ahead, the spokesperson said the company is committed to maintaining Parkway Parade's connectivity, with the construction of an underpass to the MRT station from the shopping centre's basement level 1 serving as an example.

To facilitate the construction, which Lendlease targets to complete by 2027, the initial shopping centre entrance leading to its basement level one was closed from Dec. 20, 2024.

"To minimise disruption to shoppers and tenants at Parkway Parade, the construction of the sheltered linkway was planned as a separate, subsequent phase upon the completion of Marine Parade MRT station," said the spokesperson.

According to the spokesperson, this phased approach enables Lendlease to "coordinate effectively with relevant stakeholders to minimise the impact of construction works for shoppers and tenants at Parkway Parade".

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