TK Maxx has agreed a lease on a 30,000sq ft flagship store in Edinburgh city centre with Standard Life Investments Pooled Pension Property Fund and Peveril Securities.
Located on South St David Street, opposite Jenners, this will be TK Maxx’s primary store in Edinburgh. It will be the largest new retail letting in the city centre since the opening of Primark in 2011.
This is the first pre-let deal to be agreed on the initial phase of the St Andrew Square development, which is a joint venture between Standard Life Investments Pooled Pension Property Fund and Peveril Securities.
David Stewart, fund manager of the Standard Life Investments Pooled Pension Property Fund, said: “We’re very pleased to have signed this deal with such a popular, international brand. This flagship letting will act as a key link between the retail offer of Princes Street and our aspirations for the remainder of this exciting, new development.”
Ralph Jones, managing director of Peveril Securities, said: “It is excellent news that we have agreed a prelet this early in the programme, a testament to the quality of the location.”
Standard Life Investments and Peveril Securities were represented by Jackson Criss and Culverwell; TK Maxx were represented by Morgan Williams.