A round-up of all the latest moves in Scotland, by Bob Serafini
Next moves out of town
Retail chain Next is fitting out a 35,000 sq ft flagship store at Kingsgate Shopping Park, East Kilbride.
The firm, advised by Culverwell, will occupy premises previously leased to Harveys/Bensons for Beds and Thomson Travel on a 15 year deal at a rental of £480,000 pa. It will also incorporate a Costa Coffee concession.
Martin Gudaitis of Paradigm Property Consultants, joint letting agent for landlord Aviva Investors along with Wilkinson Williams, said the store was due to open in mid- December: “Next have been considering their representation in EK for a number of years and will join new tenant Nike in the recently refurbished Kingsgate, alongside M&S, Boots, Argos, TK Maxx, Mothercare and
anchor Sainsbury.”
Jaeger for George Street
Luxury fashion brand Jaeger will open a new 3856 sq ft store in Edinburgh in time for Christmas in the former East premises at 35a George Street and 70 Hanover Street.
Cushman & Wakefield partner Stuart Moncur, which acted for Jaeger,
said: “This is one of the best locations in George Street, close to other quality clothing brands like Anthropologie and LK Bennett , and I am confident they will trade very well.”
Culverell advised landlord Aberdeen Asset Management. The rent is believed to be around £275,000 pa.
Across the road, jeweller Laings, advised by EYCO, has paid a premium for a prominent corner shop unit which has 5,000 sq ft of space across three floors. CBRE acted for outgoing tenant Barclays Bank, achieving a rental of £322,500 pa.
Office letting at Gyle
Engineering company Blyth & Blyth, advised by Ryden, has let the 11,844 sq ft top floor of the Cornerstone building at South Gyle Business Park.
The Grade A open plan space has been refurbished prior to the 10-year lease at a rental of around £16 per sq ft. Two floors remain available.
Allan Matthews of CBRE, which represented landlord PDPF, said this was one of the largest lettings so far this year in west Edinburgh.
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