Leading property consultancy CBRE has announced it has secured two new units for national retailer Card Factory, both in prime shopping locations in Scotland.
Card Factory is expanding its presence north of the border with the a new unit recently opened in The Avenue Shopping Centre Newton Mearns and new store in Princes Street, Edinburgh to follow early in 2016.
The Edinburgh and Newton Mearns units extend to 1,415 sq ft and 1,645 sq ft respectively and will allow Card Factory to increase its market share in two of the country’s top retail locations.
The Princes Street unit, which is owned by NFU Mutual Insurance Society Limited, was secured at a rental of £160,000 per annum while Newton Mearns, owned by the New River Retail Property Trust, was set at £50,000 per annum.
With over 800 stores nationwide, Card Factory specialises in greetings cards, wrapping paper, gifts and decorations for all occasions.
Kevin Sims, senior director and head of Retail in CBRE Scotland, commented: “Card Factory is a hugely successful brand and I am pleased CBRE was able to source the company two prime units in high footfall areas to continue its Scottish expansion”
CBRE represented Card Factory in both transactions while SGM Property Consultants represented Edinburgh unit landlord NFU Mutual Insurance Society Limited and BNP Paribas acted on behalf of Newton Mearns unit landlord New River Retail Property Trust.