Aegon talks

Deichmann lined up for vacant prime retail unit

Prime site: Deichmann being lined up (pic: courtesy of CoStar Group)

Aegon is said to be in talks to sign Deichmann, Europe’s largest footwear retailer, to take a vacant retail property on a prime site in Glasgow city centre.

The 16,000 sq ft store at 70-76 Argyle Street has stood empty since Next’s departure late last year. It had been based there since 1987 and left after its 35-year lease expired in February.

The clothing and homeware retailer, which also has a store at Landsec’s Buchanan Galleries, had been looking to sublet the Argyle Street store for a decade.

Deichmann, which has been hunting for a second outlet in the city centre for as many years, is now being lined up for the unit, according to property analytics firm Co-Star. The shoe retailer expected to continue to trade from 252 Sauchiehall Street.

Aegon, then known as Kames Capital in the UK, acquired the Argyle Street property in late 2017 for £9.1 million.

The likely letting to Deichmann comes several months after Aegon secured Laings for 120 Buchanan Street. Aegon sold the shop to Buccleuch Property for £4.7m in June.

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