London & Scottish Developments, part of Glasgow-based London & Scottish Property Investment Management (LSPIM) has engaged Muir Construction to build the 47,800-square-foot retail development in Cupar, as well as provide 159 car parking spaces.
The development will comprise eight retail and leisure units. The largest has been pre-let to anchor tenant B&M, which has taken 23,000 sq ft plus 7,500 sq ft for a garden centre. Other pre-lets have been agreed with Indigo Sun, Burger King and Costa Coffee.
The retail park is expected to create 120 to 140 long-term retail jobs as well as 40 construction jobs during the build and fit-out phases.
Muir Construction is currently progressing the groundworks and the build is expected to be completed in November.
Andy Richardson, group development director at London & Scottish Developments, said the site had lain derelict for many years, adding: “We are pleased to have worked with both Fife Council and Muir Construction to regenerate this disused land to meet modern occupier demands.
“As well as complementing Cupar’s existing retail offer, these new retail and leisure outlets and parking facility will attract shoppers from a catchment area of around 120,000 people into Cupar. It will provide the public with more choice and enhance their overall shopping experience.”
Councillor Margaret Kennedy said: “I recognise that there are concerns about an edge-of-town retail development; however, I have been pleased to hear that efforts will be made to engage widely within the town.”