A RETAIL shop has played down rumours it is looking at a site in Colchester as the future of the empty M&S site is yet to be revealed.

M&S’s High Street store shut down for good last September having been a staple of the city centre for some 90 years.

The closure coincided with the opening of the high-end supermarket’s newest branch at the multi-million pound Stane Retail Park, in Stanway.

The large and now vacant property has since been boarded up and put on the market.

One hugely popular bargain business some were hoping to come in to occupy the site was QD.

Gazette: Popular discount store QD opened in Rayleigh High Street in OctoberPopular discount store QD opened in Rayleigh High Street in October (Image: Councillor Danielle Belton)

However, speaking to the Gazette, bosses played down those rumours.

Commenting on Colchester, a spokesman said: “QD is always looking for new locations in which to open stores and deliver amazing prices and value guaranteed to our customers.

“We currently have six stores in Essex, including Rayleigh which opened in a former M&Co earlier this year.

“However, we don’t have any plans to open in Colchester at this time.”

The QD site in Grays is set to close in the new year.

Despite the news from QD bosses, Martin Leatherdale, manager of Lion Walk Shopping Centre, has teased the empty unit may not remain empty for long.

Gazette: Excited - Lion Walk Shopping Centre manager Martin LeatherdaleExcited - Lion Walk Shopping Centre manager Martin Leatherdale (Image: Newsquest)

He said “really big news regarding the sale of M&S” will be coming “at the beginning of next year”.

“There has been significant interest from big-name brands such as B&M and many others”, he added.

“However, details of the buyer are yet to be disclosed and confirmed.”

Whoever does decide to move into the former M&S will have to fork out £4.5million plus an annual rent fee.

Gazette: Shut - the former Marks & Spencer site has been boarded upShut - the former Marks & Spencer site has been boarded up (Image: Public)

A total of £2.5million of that will go towards securing the freehold part of the building, while renting the leasehold part will likely cost more than the £381,440 it did back in 2021.

The Gazette also understands another £1million could be needed for building works, as well as a further £1.5million to fund the removal asbestos inside the site.

An M&S spokesman said: “We are continuing to work hard to find a suitable new occupier for the site in the city centre and have been actively marketing the unit.

“We will keep the community updated with any developments.”