Retail Property - Comet signs up for Ladymead

Comet has taken a pre-let on a 1,860 sq m unit at Standard Life Investments' Ladymead Retail Park in Guildford, which was listed as the UK's fifth most expensive out-of-town location in the recent Retail Week league tables.

Comet has signed a 25-year lease at£800,000 a year, equating to£430 per sq m. The unit will be completed in August and the white goods retailer will join Homebase, Furniture Village, Halfords, Carpetright, Allied Carpets and Burger King.

Standard Life Investments retail investment director Mike Hannigan said: 'Comet is expanding at Ladymead Retail Park. This is a record letting for Guildford and is the highest rent that a non-fashion retailer has paid to take space of this size at a retail park anywhere in the UK, demonstrating Ladymead's continuing position as a prime location.'

Montagu Evans represented Standard Life Investments.