M&G Real Estate has completed two new lettings to New Look and Ernest Jones for Ayr Central shopping centre in Scotland. New Look has signed to take an 11,100 sq ft unit on a 15-year lease and Ernest Jones will occupy a 1,100 sq ft store on a 5-year lease.
Both retailers will relocate to Ayr Central from their existing locations elsewhere in the town. With more brands keen to secure space at the shopping centre, the trend indicates a strong shift in Ayr’s prime retail pitch.
While Ayr Central prepares to welcome New Look and Ernest Jones, the centre is also experiencing continued commitment from existing tenants. hmv has signed to upsize to a 5,800 sq ft store.
hmv CEO Ian Topping says: “We are delighted with our store’s relocation to a larger unit at Ayr Central. Store manager John Stewart and his team have welcomed our many loyal customers to their new home of entertainment, where they will continue to find the very best in film, music, technology, games and merchandise. As the UK’s biggest vinyl retailer we also offer customers the best range of music in LP format.”
The 178,145 sq ft shopping centre opened in 2006 in Ayr town centre. It is the area’s dominant retail scheme, anchored by Debenhams and Primark.
Chris Poole, Asset Manager at M&G Real Estate, adds: “Bringing New Look and Ernest Jones to Ayr Central reinforces the centre’s reputation as the town’s prime retail location. Ayr Central enjoys very loyal customers, and a high volume of tourists and students, and has become a key requirement for brands seeking expansion in the South of Scotland. We anticipate further commitment from new and existing brands in 2016.”
M&G Real Estate bought Ayr Central in May 2015 and its active asset management strategy will focus on attracting additional quality retailers to broaden the tenant mix and further enhance the centre’s established fashion range. Its existing tenant line-up includes Top Shop, Top Man, Next, H&M, River Island, JD Sports, Clarks, HMV, and Costa. The ‘big box’ format centre also includes a 450-space car park.
Ayr Central Shopping Centre is managed by CBRE. The letting agents are Smith Cole Wright and Gunn Property Consultants.