£10 Million new ‘Retail Terrace’ gets the go ahead at Straiton Retail Park
A 25,500 sq ft new ‘retail terrace’ at Straiton Retail Park has been given the green light from Midlothian council, with a planned £10 million investment by Peel Retail Parks, part of Peel Land and Property (Peel L&P).
The new eye-catching, glass-fronted building will sit fronting Straiton Road and will house up to 11 new tenants featuring a line-up of top brands, with Greggs, Starbucks, Card Factory and Archers Sleep Centre already confirming spaces within the units.
Peel Retail Parks, who own and manage the 260,000sq ft site, aim for the new offering to enhance the shopping experience at the popular park, which already has a strong retail line up including Next, Sofology, Nike, M&S and Nandos.
Leah Taylor, Development Manager at Peel Retail Parks, part of Peel L&P, said: “This is fantastic news for Straiton Retail Park and its customers. In recent years, we have seen the park go from strength to strength with an ever-increasing number of shoppers visiting us each year.
“The high specification retail terrace, with additional parking, adds a further attractive retail offering to this already successful park, providing shoppers with a more diverse shopping experience. We’re in very advanced negotiations with a number of national retailers for the remaining units.”
The scheme is being funded through a development facility from Royal Bank of Scotland’s corporate banking team. Duncan Mayall, Relationship Director at RBS, said: “Peel Retail Parks’ investment into Straiton Retail Park, will enhance the local area, support the regional economy and create a number of new jobs in the process. We have a long relationship with Peel, having supported many of their activities, and we are really pleased to be working with the team at Peel Retail Park on their investment.”
With an annual footfall figure of more than 7 million visitors, Peel L&P is confident the new development, situated directly on the A720 City of Edinburgh Bypass, will be well received by customers both locally and in the wider Edinburgh area.
Construction work is due to start in Summer 2019, with a 33-week build period and store opening dates to be confirmed in due course. There is limited space available within the new development, interested retailers should contact Leah Taylor with any enquiries on 0161 629 8427 or emailing email@example.com