Sunday, November 17, 2019

Run of lettings at Greenock Shopping Centre

Oak Mall Shopping Centre
Oak Mall Shopping Centre

Inverclyde shopping centre, Oak Mall, continues to prove popular with retail occupiers after Reith Lambert and Ryden signed up five new lettings. 

New tenants include gifts and stationery chain The Works, who have taken a five year lease at 22 Hamilton Way, extending to 5,500 sq ft, and value retailer Poundstretcher (trading as Bargain Buys), who will occupy 8,000 sq ft at 14 Hamilton Way, again on a five year lease.

Additionally, electronic cigarette retailer Vapourohm have taken a 700 sq ft unit at 14 Hamilton Gate, also on a five year lease, newsagents Oak News have acquired over 1,600 sq ft at 49 Hamilton Way and American Candy are to occupy 2,000 sq ft at 45 Hamilton Way. 

Furthermore, Santander and TUI have renewed their existing leases for a further ten years and five years respectively, and Inverclyde Disability has relocated within the scheme to larger premises (5,000 sqft) at 51 Hamilton Way. Primark and 3store have also invested in new store designs for their premises.

Iain Minto, Director of M&M Asset Management, commented on these transactions: 
“The leasing team at Oak Mall are delighted by the new additions to the tenant line-up in Greenock.

“We continue to work with new and existing occupiers to ensure that the trading environment at Oak Mall meets the needs of the town centre. We welcome the new retailers and we are confident they will further enhance the current retail offer.”

John Conroy, Retail Agency Partner at Ryden, added: 

“With over 50 shops, Oak Mall is Inverclyde’s premier covered shopping centre, offering exceptional opportunities for both retail and non-retail uses. 

 “We are continually encouraged by the level of interest in the shopping centre from both new and existing occupiers, notwithstanding what is generally acknowledged to be a tough retail market.”

Letting agents Ryden and Reith Lambert represented landlord Lunar Greenock Sarl in these transactions. 

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