Leading property consultant CBRE has announced it has secured Mountain Warehouse as a new tenant for a unit on Market Street in St Andrews on behalf of the landlord, C/O CBRE Global Investors.
Competition was fierce for the 3,000 sq ft unit at 92/94 Market Street, St Andrews, with multiple offers received at closing date. Mountain Warehouse, a global outdoor clothing retailer which currently has more than 240 stores within the UK, Europe, North America and New Zealand, is adding St. Andrews to its vast portfolio, acquiring the store on a new ten year lease at a rental value of £130,000 per annum. The unit will be combined to create a single ground floor unit of approximately 2,000 sq ft with around 1,000 sq ft at first floor level.
Kevin Sims, senior director from CBRE, commented on the letting: “The deal was agreed with Mountain Warehouse following a closing date for best bids during which multiple offers were received. This signifies the continued strength of the market in St Andrews and an outcome our client is delighted with.”
CBRE acted for the landlord in the transaction, whilst Gunn Property Consultants advised Mountain Warehouse.