New Look boosts its presence in Scotland
Published: 16 November, 2010
Hercules Unit Trust (HUT), the specialist retail warehouse fund advised by British Land and managed by Schroders, has announced a 35,647 sq ft deal with fashion brand New Look.
The deal will see the opening of two new stores - a 22,847 sq ft unit at Glasgow Fort and a 12,800 sq ft store at Inverness Shopping Park - representing a key boost to the brand’s presence in Scotland.
At Glasgow Fort the fashion retailer will upsize from a 15,000 sq ft ground floor unit to the former Borders, which includes a mezzanine.
This new duo provides New Look, originally founded in Dorset which now has 1,000 stores internationally, with flagship stores in two key locations, having just celebrated its 40th anniversary last year.
Commenting on the exchange, Ben Grose, head of retail asset management at British Land, said: “This is another great example of how, by understanding an occupier’s needs, we can provide ideal units in prime locations that allow their business to expand.”
CBRE acted on behalf of New look. Montagu Evans and Morgan Williams represented HUT at Glasgow Fort. Wilkinson Williams and Montagu Evans represented HUT at Inverness.
