STATUS: PLANNING PERMISSION GRANTED JUNE 2017; DEVELOPMENT START ON-SITE IMMINENT
Montrose, Brechin Road, Home Bargains
Reeder Ness were appointed by Kilmac Commercial Ltd to provide development advice on a prominent retail site in Montrose which was purchased from Sainsburys PLC.
Pre-sale terms were subsequently agreed with Home Bargains for the development of a 22,000 sq ft store. An additional 2 retail units amounting to 13,000 sq ft are available to let as part of the proposed development.
Acting on behalf of Cyan Properties (part of the Pears Property Group), Reeder Ness identified and acquired this 105,000 sq ft stand-alone retail/cash and carry investment let to Booker plc. Reeder Ness have been retained to provide development advice to add value on the surplus car park area.
STATUS: THE DEAL WAS CONCLUDED IN NOVEMBER 2016
Prestonpans, Co-Op and Neighbourhood Retail Parade
Reeder Ness were appointed by Bankhead Land Ltd as development consultant for a 1.82 acre site in Prestonpans with planning consent for retail use. The scheme was re-designed to show a neighbourhood retail parade and pre-let terms were subsequently agreed with Co-Op (4,500 sq ft), Atlantis Hot Food (1,000 sq ft) and Links Vet Practice (1,000 sq ft). Unit B (1,000 sq ft) available to let.
STATUS: DEVELOPMENT COMPLETED MAY 2016
Musselburgh, Home Bargains
Reeder Ness were appointed by Kilmac Commercial to provide development advice and secure a tenant for their building at Olivebank Retail Park, Musselburgh. Land adjacent to the unit was acquired to form a new 12,500 sqft and pre-let terms were agreed with Home Bargains. Reeder Ness subsequently sold the completed investment to Home Bargains.
STATUS: COMPLETED OCTOBER 2015
London, Spires Shopping Centre, Barnet
Working with Hunter Real Estate Investment Managers and a Canadian Pension Fund, Reeder Ness successfully secured the off-market acquisition of this prime London Shopping Centre Investment.
The centre was bought from the William Pears Group in a deal representing a yield of just over 6%. The 90,000 sq ft scheme, which is anchored by Waitrose, comprises 37 units let to a mix of retail and leisure occupiers. Tenants include New Look, Body Shop, Carluccio’s, Anytime Fitness and Costa. The Spires is the main high-street shopping centre in Barnet – one of London’s largest and fastest-growing boroughs, as well as one of the most affluent.
STATUS: THE DEAL WAS CONCLUDED IN JULY 2015
Glasgow, East End, Morrisons
Reeder Ness worked with Anglo Irish Bank and Macdonald Estates to acquire a 5 acre site in the East End of Glasgow. Planning Permission was obtained for a new 50,000sqft supermarket which was pre-let to Morrisons and forward funded by Aberdeen Asset Management.
STATUS: DEAL COMPLETED MARCH 2014
Inverness, Longman Road, former Clydesdale Bank
Reeder Ness acted on behalf of Highland Industrial Supplies to acquire this 8,000 sq ft former bank building with 1.8 acres of development land on Longman Road, Inverness.
The site was subsequently sold to the Arnold Clark Group for car garage use.
STATUS: THE DEAL WAS CONCLUDED IN OCTOBER 2013
North Lanarkshire, Viewpark, Asda
Reeder Ness worked with Macdonald Estates to assemble this 5 acre site in Viewpark, North Lanarkshire. Deals were agreed with two landowners which also included the relocation of an existing football club. Terms were also agreed with Asda Stores for the development of a new 43,000 sq ft supermarket and petrol filling station.
STATUS: PLANNING PERMISSION WAS SECURED IN SEPTEMBER 2013
Dundee, Myrekirk Road
Acting on behalf of Marketgait Developments Ltd, Reeder Ness agreed sale terms with T J Morris Ltd for a new 34,500sqft Home Bargains Store. Planning permission was received in May 2021.