Lidl UK Properties, the real estate division of the budget supermarket chain, has secured catalogue store Argos for a 14,500 sq ft development in Cupar, Fife.
Following Lidl’s relocation to a larger site in the town, the supermarket chain sought to sub-let the property through its agents Knight Frank.
A 15-year FRI lease was secured for the building at Ferguson Square on an annual rent of £95,000.
Argos is re-fitting the store, which is due to open in the autumn and represented itself in the deal.
Chris Ditchfield, partner at Knight Frank, said: “It is great to have been able to secure a covenant and trader of Argos’ stature for this property.
“The proposed new housing developments around Cupar will increase the town’s catchment area. Argos has clearly recognised the town’s potential.”
References: EGi News 06/07/06
