Ryden property acquisition for Schuh

Schuh Ltd, one of the UK’s favourite fashion footwear retailers, is pleased to announce the leasehold acquisition of Unit 3 Kingsthorne Park, Houstoun Industrial Estate, Livingston.
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Sept. 2, 2011 - PRLog -- Schuh Ltd, one of the UK’s favourite fashion footwear retailers, is pleased to announce the leasehold acquisition of Unit 3 Kingsthorne Park, Houstoun Industrial Estate, Livingston.  This is a total of 2,543 sq m (27,378 sq ft) of modern warehousing and distribution accommodation and marks an important step in facilitating the growth of the company.

The landlord of the property on Kingsthorne Park is Tiger Developments Ltd who is very pleased to secure Schuh for such a large amount of space and for a term of 5 years.

Kingsthorne Park was chosen by Schuh because of the quality of the accommodation and the proximity to Junction 3 of the M8 motorway.

The terms agreed on the accommodation are confidential however the headline rental is approximately £100,000 per annum.

Schuh was founded in Edinburgh in 1981 and is headquartered in Livingston. The company has 59 stores throughout the UK and Ireland, an additional 16 concessions in Republic stores, and is one of the country’s largest online shoe retailers (www.schuh.co.uk).  For the year ending March 27 2011, Schuh generated net sales of approximately £164m and recently announced the sale of the company to US retailer Genesco for a sum of £125m.   As part of this sale, Schuh distributed £37.3m of the sale proceeds to its 2,827 staff members.  Last week Genesco unveiled plans to double its 59 stores across the country in six years.

Ryden acted on behalf of Schuh and Knight Frank represented landlord Tiger Developments Ltd.

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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 and has around 140 people, including 29 partners and 24 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 2010
•   EGi’s Most Active Industrial & Distribution Agent in Scotland 2010
•   EGi’s Most Active Office Agent in Scotland 2010

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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.
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