Bargain Buys is to open a new store in Penicuik Shopping Centre later this month, national commercial property and investment company LCP has announced.
The store will be the new anchor tenant for the shopping centre, replacing B&M, which closed in January this year. The chain, which is part of the Poundstretcher group, has agreed a 10-year lease, subject to a five-year break, for the 10,900 sq ft unit on the ground floor.
Dermit Smith, asset manager for LCP, which manages the centre on behalf of sister company Evolve Estates Ltd, said: “We are delighted to have attracted such a big high street name as Bargain Buys to Penicuik, providing local shoppers with even more choice on their doorstep.”
Joe O’Keefe, director of Evolve Estates, added: “We believe this important anchor letting will immediately help our current tenants’ footfall whilst also acting as a catalyst to attract not only new local and national retailers but also and just as importantly local shoppers from in and around the community it serves.”
The tenant fit out has already begun on the unit and completion is expected in two weeks’ time.
Penicuik Shopping Centre is directly adjacent to the pedestrianised John Street, in the commercial heart of the town.
Tenants include Farmfoods, Greggs, Cancer Research , TSB Bank and Rowlands Pharmacy.