WILKO is to close the doors of its Fleet Street store for the final time later this year, it has been confirmed.

But fans of the household goods chain need not fear, as a brand new Wilko store will be opening just a few hundred yards up the road in the vacant unit that was previously home to BHS. 

One of the biggest shops in terms of floor space in the town centre, it has stood empty since BHS collapsed last year.

Town centre bosses had feared that given its size and the decline in retail in Swindon town centre, finding a tenant would be difficult.

But a deal has now been struck for Wilko to occupy all of the ground floor and part of the first floor, around 20,000 sq ft.

The remaining space on the upper floors will be accessed by a new ground floor entrance from street level.

Wilko have signed a 15 year lease that will see The Parade increase its rental income by 12 per cent.

A spokesman for the property firm responsible for securing the deal said: "Following the departure of BHS, we wanted to ensure that we introduced a tenant with a first class covenant that would complement existing occupiers and drive footfall to add value both to The Parade and to Swindon’s town centre.

"Wilko is therefore exactly the kind of tenant that we had in mind for this space and will add significantly to both the tenant mix and the rental income of The Parade.”

While news of the move will be welcomed by existing retailers in the pedestrian shopping heart of the town centre, it will come as another blow to hopes that the bottom of Fleet Street can see any sort of resurrection.

Wilko was the last big retail name at that end of the town centre, an area that has seen a steep decline in recent years with only a smattering of off licenses, bars and betting shops remaining.