Poundland to open on Sauchiehall Street

Jan. 21, 2011 - PRLog -- Commercial property firm Ryden has let a prime retail unit on Glasgow's Sauchiehall Street to Poundland.

Poundland, Europe’s largest single price discount retailer, was last year snapped up by private equity group Warburg Pincus.  Since then, Poundland has opened several new stores in a major expansion of their business. This latest letting involves the property formerly occupied by Burger King in one of Glasgow's busiest shopping parades.  At 10,389 sq ft, the unit has been taken on a 10-year lease at £375,000 per annum.

Poundland will benefit from the proposed modernisation and reclad of the parade to link in the new Premier Inn on the adjoining St Andrews Tower.

John Conroy, Retail Partner at Ryden, said: "Poundland's expansion is testament to the success of the value sector in recessionary times.  They will do well in this prime location which sees a high footfall due to the good mix of retailers situated here and will also be able to take advantage of the overall enhancement of the block in association with Premier Inn.”

Landlord ING Real Estate Investment Management was represented by Ryden & Savills; Poundland was represented by CBRE.  



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Notes to Editors

Ryden is an independent commercial property firm operating a full-service practice.  Service lines include Agency & Development, Investment & Finance, Professional, Building Consultancy, Property Management and Consulting.

The firm is headed by Fiona Morton, Managing Partner, with around 140 people, including 30 partners and 19 associates.

Ryden has offices in Edinburgh, Glasgow, Aberdeen, Leeds, Dundee and Inverness.  

Some recent awards include:
•   Property Week’s Industrial Agency Team of the Year (Scotland) 2009
•   EGi’s Most Active Agent in Scotland 2009
•   EGi’s Most Active Industrial & Distribution Agent in Scotland 2009
•   EGi’s Most Active Office Agent in Scotland 2009

For more information see www.ryden.co.uk

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Ryden is the largest independent commercial property consultancy in Scotland and the North of England. We have 33 Partners and over 140 staff across six offices in Edinburgh, Glasgow, Aberdeen, Leeds, Dundee and Inverness.