British Land secures 135,000 sq ft of lettings at Fort Kinnaird

By Kasmira Jefford - Wednesday, October 11, 2017 15:02

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British Land has secured 13 new lettings and an additional four re-gears totalling more than 135,000 sq ft at Fort Kinnaird in Edinburgh.

The property company, on behalf of The Gibraltar Limited Partnership,  said JD Sports is doubling its presence with a new 10,000 sq ft store on a 10 year lease.

Schuh and Schuh Kids will open a new 5,000 sq ft store while Waterstones has opened a new 3,800 sq ft café concept store - both on a 10 year lease.

Shoe chain Office has signed for a new 2,500 sq ft store and Starbucks is to open a new format café in a  2,500 sq ft unit. Both tenants have signed 10 year leases. 

Both Card Factory and O2 are relocating to 2,300 sq ft and 2,000 sq ft units respectively on five year leases. 

Meanwhile travel operator Tui has signed for a new 1,700 sq ft store on a 10 year lease, Currys PC World is upsizing to a new regional flagship store over 39,500 sq ft, and Pure Gym is to open a new 20,000 sq ft gym over two levels. 

Oak Furniture Land has opened its second Edinburgh store, taking 18,000 sq ft, Wilko continues its UK expansion with a new 10,700 sq ft store, while Tapi Carpets has taken 5,300 sq ft. All five retailers have signed up for ten years. 

In addition, a number of retailers have also extended their leases, including Perfume Shop (10 years), Vision Express (10 years), Clarks (five years), and Carphone Warehouse (three years).

James Varley, asset manager for British Land, said: “The scale of these lettings, with a number of leading brands choosing to locate their flagship stores with us, is a great endorsement of the work we have done at Fort Kinnaird to enhance the environment for our customers. Our understanding of the way people shop, grounded in data analytics, is enabling us to respond to their needs with a targeted retail and leisure mix, as well as space to relax and be entertained.”

Fort Kinnaird has seen footfall increase and trading hours extended since the opening of a 57,000 sq ft leisure quarter and a 39,000 sq ft Primark. The leisure quarter, featuring a seven screen Odeon cinema and a range of restaurants, has also extended the centre’s catchment and average dwell time.

Fort Kinnaird has a catchment of 840,000 people and is home to 66 brands including Primark, Odeon, Next, River Island, Boots and Currys.

British Land is Property Adviser to HUT and Crestbridge Hercules Management IC is the Manager.

The Gibraltar Limited Partnership was advised by Eric Young & Co and Paradigm Property Consultants.

kjefford@costar.co.uk

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