Kitchen furniture retailer Magnet has confirmed plans to open a new store in Stamford.

Situated on High Street, Magnet is one of two retailers that is taking a former Wilko premises.

From the former Wilko unit at 44 High Street of 7,300sq ft, a new look unit of 4,930sq ft spanning two floors has been created and one totalling, 2,370sq ft of retail space just at ground floor level.

Magnet’s showroom will trade from the unit with the two floors, now known as 44a High Street – where the former property’s feature staircase has been retained – while clothing retailer Weird Fish is taking the lease of the new standalone, ground floor unit, 44b.

Gavin Hynes, of Eddisons’ Peterborough office, who represented the developer in the transactions with the retailers, commented: “Stamford has emerged as a retail hot-spot in recent years and the reinvention of the property at 44 High Street to become two viable retail units attracted more commercial interest than the one, larger, former Wilko premises was going to.

“Following the finishing touches to fit outs currently being conducted by the retailers, their newly created units and the two very modern, contrasting businesses are set up to add to the town’s premium retail profile.”