Commercial Property News

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Friday, May 19, 2023

New Look and Clarks due to take leases at Craigleith Retail Park, Edinburgh

Henderson Global Investors has announced that fashion retailers New Look and Clarks are taking units at The Quarry, Craigleith Retail Park in Blackhall, Edinburgh.

New Look will take a unit of 10,000 sq ft and will pay 37.50 per sq ft (404 per sq m) on a 15 year lease. Clarks will take a unit of 3,500 sq ft (325 sq m), paying 42.40 per sq ft (458 per sq m) on a 15 year lease.

Both are taking new units, leaving just 5,000 sq ft (465 sq m) of space to let at the new development. These lettings follow Arcadia and Next taking 15,000 sq ft (1,394 sq m) and 12,000 sq ft (1,115 sq m) units respectively in late 2005.

Furthermore, Arcadia is now up and trading at the retail park and offers four brands to customers: Burton, Dorothy Perkins, Evans and Wallis.

Andrew Friend, head of the retail warehousing fund at Henderson Global Investors, says: "We have just one of the new units remaining at The Quarry and we are currently assessing opportunities within the existing park for new names going forwards."

Mike Spens, director at joint letting agent Savills, says: "Interest is high on the last remaining unit at The Quarry and we expect to announce a deal in the near future."

Culverwell is acting as joint agent with Savills at The Quarry.