Aberdeen’s Bon Accord and St Nicholas shopping centres are to undergo a £25m extension
The move follows two significant lettings at the 630,000 scheme, which are under the single ownership of the Scottish Retail Property Limited Partnership (SRPLP), a joint venture between British Land and Land Securities.
New Look is increasing its space from 4,000 sq ft to a 55,000 sq ft flagship store in the John Lewis area of the shopping quarter. It has taken a 15-year lease at an annual rent of £750,000
This has prompted SRPLP to build a further 54,000 sq ft at the Gallowgate Street element of the scheme, to meet a requirement by Next for large-format anchor store over two levels. The fashion giant has signed a 15-year lease and the store will open in early 2009.