CBRE lets two shops
Card Factory opens two units in Scots expansion
Two units in key shopping locations have been let to national retailer Card Factory which is expanding its presence in Scotland.
It has opened in The Avenue Shopping Centre Newton Mearns and a new store in Princes Street, Edinburgh will follow early in 2016.
The two shops comprise 1,415 sq ft and 1,645 sq ft respectively and will allow Card Factory to increase its market share in two of the country’s top retail locations.
The Princes Street unit, which is owned by NFU Mutual Insurance Society, was secured at a rental of £160,000 per annum while Newton Mearns, owned by the New River Retail Property Trust, was set at £50,000 per annum. Both were handled by CBRE.
With more than 800 stores nationwide, Card Factory specialises in greetings cards, wrapping paper, gifts and decorations.
Kevin Sims, senior director and head of retail in CBRE Scotland, said: “Card Factory is a hugely successful brand and I am pleased CBRE was able to source the company two prime units in high footfall areas to continue its Scottish expansion.”
CBRE represented Card Factory in both transactions while SGM Property Consultants represented Edinburgh unit landlord NFU Mutual Insurance Society and BNP Paribas acted on behalf of Newton Mearns unit landlord New River Retail Property Trust headed by David Lockhart.