National Retailers Confirmed for Redeveloped Milngavie

July2019

Town Centre Securities PLC (TCS), has agreed new leases with two national discount retailers, Aldi and Home Bargains, at its redeveloped West Park Retail Park in Milngavie, on the edge of Greater Glasgow, the former Homebase site.

The Main Street asset, housed in the affluent residential suburb outside Glasgow, was formerly let to Homebase who closed the existing unit in December 2017 following an on-going strategic review of its business.

Planning was approved by East Dunbartonshire Council in August 2018 following extensive consultations by TCS with retail experts and potential tenants on how best to attract new businesses to the site, as well as create local employment.

Refurbishment works have sub-divided the main 38,105 sq ft building into two retail units with plans to create a third unit.

Discount supermarket Aldi will occupy 18,341 sq ft in Unit 1a on a 20 year lease, whilst national discount chain Home Bargains will take 18,320 sq ft in Unit 1b on a 15 year lease. The deals will create circa 80 jobs for the local area.

The restored site includes new pedestrian access from Main Street, along with bicycle parking and the installation of electric vehicle (EV) chargers. CitiCharge, a subscription free EV charging networked, owned and managed by TCS subsidiary company CitiPark, is installing two 22kwh chargers in the site’s car park.

Due to the shortage of EV chargers available for disabled drivers across the UK, one of the chargers will be a designated blue badge charging bay. The installation comes shortly after the company announced it had installed Leeds City Centre’s Rapid Charger at CitiPark’s flagship branch, the Merrion Centre.

Lynda Shillaw, property director at Town Centre Securities said:

“TCS has been committed to the long-term sustainable regeneration of the West Park Retail Park in Milngavie since we acquired the former Homebase site in 2007.

Planning consent was approved on the adjacent site in 2013 to create the Waitrose which opened its doors in 2015 and has since been a welcome addition to the local retail offer.

The recent repurposing of the Homebase unit continues our investment into the retail park and we are pleased to have agreed terms with Aldi and Home Bargains which has in turn created 80 new jobs for the local area.”

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Town Centre Securities PLC (TOWN.L) 182.13 +11.13 Last updated: 24/09/2019 at 09:10