Redevco Completes Deals With Pizza Express And Jo Malone At Glasgow’s Princes Square

May 28, 2012

Redevco United Kingdom secures two new deals following multimillion pound renovation of aspirational Scottish shopping centre.           

Redevco is to boost its casual dining offer in Princes Square with the introduction of Pizza Express, who will open in the Glasgow centre early next month. The move follows the completion of the € 9.3 million( £7.5 million) refurbishment of Princes Square, which is off Buchanan Street. Pizza Express will open a new restaurant in the courtyard of Princes Square in June. It has signed a 25 year lease for the scheme and will pay a commencing rent of approx. € 125,000 per annum (£100,000).

Meanwhile Jo Malone, which was already a tenant within Princes Square, has extended its lease by a further 10 years at a rent of approx. € 124,000 per annum (£99,750).

Andrew Foulds, Portfolio Director at Redevco, said: “We are very excited to introduce Pizza Express into one of the two casual dining floors in Princes Square. Pizza Express are a proven footfall generator with a strong appeal across the demographic spectrum.

Jo Malone have been an important retail brand within the scheme for several years and their reiterated long term commitment to Princes square underlines the premium retail credentials of the centre.”

Cushman & Wakefield ad CWM advised Redevco. Pizza Express was unrepresented while Jo Malone was advised by Lambert Smith Hampton.

-ends-

Latest News

Redevco appoints Chris Fleetwood Portfolio Director UK

January 20, 2022 - 09:28

Redevco, one of Europe’s largest privately-owned real estate investment managers, announced Chris Fleetwood to join its UK business as Portfolio Director as of January 24, 2022. He will be reporting[...]

+ Read More

SOVEREIGN CENTROS APPOINTED TO ASSET MANAGE MERRY HILL

January 18, 2022 - 08:50

At the point Intu plc went into administration, in June 2020, the lenders appointed Ellandi to take control of Merry Hill shopping centre and to stabilise a volatile situation. Ellandi has led an inte[...]

+ Read More

SOVEREIGN CENTROS APPOINTS SENIOR ASSET & DEVELOPMENT MANAGER

January 13, 2022 - 09:42

Sovereign Centros has appointed Iain Minto as a Senior Asset & Development Manager to work across a variety of the firm’s retail, leisure and development projects. Prior to Sovereign Centros, Ia[...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

Wren House, Garden Close Lane, Newbury RG14 6PR