Budget clothing retailer Primark is poised to buy Birmingham's Pavilions shopping centre in a £60 million deal.
The centre, in High Street, houses Waterstones, H&M and Marks & Spencer but has many vacant units, notably the large former home of HMV which closed in 2012 following the company's slip into administration.
This latest development confirms reports from last October that Primark was looking to open a 200,000 sq ft mega store in Birmingham city centre which would be the firm's largest in the UK. It's current biggest is the 150,000 sq ft base in Manchester.
A deal is expected to be confirmed within the next few days although a report in the Daily Telegraphy suggests Primark is now looking to convert half of the 250,000 sq ft centre into a shop.
The opening of a new store would probably signal the end for its current outlet in nearby New Street. The remainder of the centre would be sub-let to other tenants.
It would also bring a welcome bout of investment to the Pavilions which has suffered since the opening of the Bullring in 2003.
A spokesman for Primark's owner, Associated British Foods, said no deal had been completed on the shopping centre and was unable to make further comment at this stage.
The centre is owned by UBS Triton Property Fund which declined to comment.
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