Derwent London is pleased to announce that Next Group plc has taken a 10,000 sq ft retail unit at Strathkelvin Retail Park, Bishopbriggs near Glasgow. Next has signed a 10-year lease, with no breaks, and will pay a rent of £145,000 per annum. The retail park, totalling over 313,000 sq ft, is now fully let.
Over the last three years, Derwent London has successfully widened the planning use at the park and attracted major retailers including Marks & Spencer, Boots, Currys/PC World, Matalan and Pets at Home. The park was further improved in June this year with the pre-letting of two newly created restaurant units to Frankie & Benny’s and Costa Coffee. Overall, 11 lettings have been concluded in this period with a floorspace of 135,000 sq ft and an annual rental income of over £1.8 million.
Nigel George, Investment Director at Derwent London, commented: “The Strathkelvin Retail Park is now fully let following a period of extensive asset management that has involved liaising closely with the local authority and community. The park offers a wide range of national retailers and provides an excellent shopping facility for the surrounding population.”
Reith Lambert and CB Richard Ellis represented Derwent London and Riddell Thoms acted for Next.