Iconic British outerwear designer, Belstaff, has signed a new 10-year lease on Unit Two 197 – 207 Ingram Street, totalling 2,175 sq ft (202 sq m), and paying £105,000 per annum whilst, next door, Unit One 197 – 207 Ingram Street, will see Fred Perry move into the corner unit following the lease surrender with the existing tenant, Brora. The menswear designer will pay £70,000 per annum on 780 sq ft (72.5 sq m) on a new 10-year lease. Both stores are expected to open in April/ May 2019.
Other brands located on the street include Armani, GANT, Hugo Boss, Mulberry, Ralph Lauren and Cruise.
John Menzies, director in the retail agency team at Savills Glasgow, comments: “Hot on the heels of Mulberry opening its new concept store at 197 – 207 Ingram Street last November, the addition of Belstaff and Fred Perry further improves the profile of Ingram Street and heralds the most active period of leasing on the street for many years. Bookended by the affluent area of Merchant City to the east and Buchanan Street to the west, the street is emerging as a luxury retail destination as upmarket brands choose to cluster together while avoiding the premium rents associated with Buchanan Street.”
JLL represented Belstaff. Orme Retail advised Fred Perry and Culverwell represented Brora.
In Scotland Savills provides asset management and leasing advice on 19 shopping centres, covering almost eight million sq ft, and 27 retail parks, expanding 3.5 million sq ft.