Innovation Park on a roll as Greggs signs up

Cosmopolitan Investments has achieved a significant letting at Innovation Park, Bellshill, Lanarkshire, by attracting Greggs plc, the UK's largest chain of high street bakers.

Greggs has taken a 15-year lease on the shop unit at Alexander Graham Bell House, one of the three office buildings at Innovation Park, which between them provide more than 70,000 sq ft of office space. The initial rental is £8,000 per annum.

Office occupiers at Innovation Park include Guardian Media Group, Lloyds TSB and Balfour Beatty.

The decision by Greggs to move to Innovation Park is part of the firm's strategy of extending its successful city and town centre outlets to business parks and industrial estates.

Iain Mercer, group managing director, Cosmopolitan Investments, said: "Greggs is one of the best retail covenants around so naturally we are thrilled to have signed them up at Innovation Park.  We feel their brand and food offering will be well received not only by the existing occupiers of Innovation Park but also by the other businesses in the surrounding area."

Greggs was self represented and Cosmopolitan Investments by DM Hall

Greggs, which has already more outlets in the UK than McDonalds (1,400 to 1,200) has said it plans to open a further 600 over the next decade.

Date: 15th March 2010
Source: Ken Houston Media Services

Additional Coverage:

Scottish Property Network (29th March 2010)

Property Week Article - Obese Lease (16th April 2010)

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