Orchard Street Investment Management has agreed a trio of new lease agreements at Westhill Shopping Centre in Aberdeen. The retail destination was acquired on behalf of clients St. James’s Place in 2010 and has subsequently benefitted from redevelopment and improvements to the tenant mix.
The latest additions to the occupier line-up are Discount brand Home Bargains, which has signed a deal for a 9,995 sq ft unit on a 15 year lease, and growing Whitbread chain Costa Coffee which is moving into a neighbouring 1,800 sq ft unit. Local pet specialist Town and Country Veterinary Group completes the trio following its decision to close its existing practice and move into an 825 sq ft unit.
Each of the new tenants’ units are located in the new 15,000 sq ft extension to the centre, which was recently completed following a nine month construction process. This extension now enjoys an occupancy rate of 85 per cent, with the one remaining unit said to be under offer to a national retailer and negotiations relating to its letting expected to be successfully concluded in the very near future.
The three new tenants will join well-known brands including Co-op, Specsavers and Marks & Spencer Simply Food, which have all recently opened at the centre, attracting high levels of footfall from the surrounding areas.
Orchard Street asset manager Doug Carson believes that the programme of improvement works recently conducted at the centre have played a large role in attracting a higher calibre of retailer to the development.
He says; “The demand we have seen from tenants to take up space at the new and improved Westhill centre is testament to its popularity as the dominant shopping mall in the Aberdeen region and the work that we have done.
“Having closely overseen the development process we now look forward to delivering an improved retail offer and experience to our customers, and expect to announce a further successful letting in the near future, with the remaining 2,200 sq ft of space under offer.”
Orchard Street was advised by CBRE.
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