Strong demand for Braehead Centre prompts CSC to revise plans for adjoining 60 acre site
Capital Shopping Centres (CSC) is claiming that two thirds of its 55,740 sq m (600,000 sq ft) Braehead shopping centre in Glasgow – which is due to open in Spring 1999 – is already reserved.
The scheme will be anchored by Marks & Spencer and SavaCentre, each with stores of 11,148 sq m (120,000 sq ft).
Pre-lettings to major tenants are now in solicitors’ hands or at an advanced stage of negotiation, says CSC. An announcement on the first group of major retailers to sign up will be made in the next few months.
Capital Shopping Centres (CSC) is claiming that two thirds of its 55,740 sq m (600,000 sq ft) Braehead shopping centre in Glasgow – which is due to open in Spring 1999 – is already reserved.
The scheme will be anchored by Marks & Spencer and SavaCentre, each with stores of 11,148 sq m (120,000 sq ft).
Pre-lettings to major tenants are now in solicitors’ hands or at an advanced stage of negotiation, says CSC. An announcement on the first group of major retailers to sign up will be made in the next few months.
Large stores are believed to be under offer to Boots, Bhs and C&A. Sources also say that retailers lined up for shop units include HMV, Dillons, Next, Dixons, Top Man/Top Shop, Miss Selfridge, Richards, Wallis, River Island, Oasis, Principles, The Link, Dorothy Perkins and Dolcis.
Joint letting agents Peter Campbell & Co and Lunson Mitchenall are quoting a base rent of £1,291.71 per sq m (£120 per sq ft) plus a turnover element.
On the strength of this demand, CSC wants to change its outline planning consent for industrial units on 24.28ha (60 acres) of land it owns adjoining Braehead. Chairman Donald Gordon said that, in order to capitalise upon the river frontage to the Clyde, discussions were underway to seek other “more appropriate” planning uses.
Braehead shopping centre is part of a £250m scheme which also includes a Maritime Heritage Museum, 34,837.5 sq m (375,000 sq ft) of retail warehousing, 9,290 sq m (100,000 sq ft) of offices and a hotel. Over one third of the offices are to be completed along with the shopping centre as part of the first phase of the scheme. Hillier Parker and Peter Campbell are letting agents for the scheme’s business space.
EGi News 28/02/97
