TK Maxx, JJB Sports and Superdrug have taken a total of 4,273.4 sq m (46,000 sq ft) at Retail Investment Parks’ Sauchiehall Centre, Sauchiehall Street, Glasgow. (pictured right)
TK Maxx has taken 2,601.2 sq m (28,000 sq ft) – its first unit in Scotland. The retailer has signed up for 15 years with an undisclosed rent free period. JJB Sports has taken 1,300.6 sq m (14,000 sq ft) on a 25 year lease. Superdrug has taken 390.4 sq m (4,289 sq ft) at £220,000 pa – its first acquisition of a High Street unit in Scotland. All leases are subject to five yearly rent reviews.
Meanwhile on Sauchiehall Street itself, Cromwells Madhouse has taken an 832.66 sq m (8,963 sq ft) from South Yorkshire Pensions Authority. The fashion chain has signed a 20 year lease at £230,000 pa, reflecting £89 Scottish Zone A. The deal includes a six month rent free period.
Grosvenor Asset Management, represented by DTZ Debenham Thorpe and Eric Young & Co, advised the Sauchiehall Centre’s owners. Jones Lang Wootton and St Quintin advised TK Maxx and FDDR represented Superdrug.
Lambert Smith Hampton acted for South Yorkshire Pensions Authority and Scottish Amicable Investment Managers. Cromwells Madhouse was advised by Dalgleish & Co.
EGi News 3/07/96
