Retail Property - Green light for Clyde growth as Dunnes Stores signs as anchor

Co-operative Insurance Society's 775,000 sq ft (72,000 sq m) Clyde Shopping Centre, eight miles west of Glasgow city centre, has received a double boost, with news of an anchor letting to Dunnes Stores and a planning application for an 84,000 sq ft (7,400 sq m) extension.

Dunnes Stores is to open its fourth Scottish shop at the shopping centre.

The Irish retailer is taking a 35,000 sq ft (3,250 sq m) unit at 2 Sylvania Way, joining existing tenants Bhs, Primark, Asda, Woolworths, Co-op Department Store and UCI. Lettings have also been agreed with Game, Perfume Shop, Carphone Warehouse and Peacocks.

Co-operative Insurance Society (CIS) completed a£21.5 million refurbishment and extension at the mall last year, creating an enclosed retail environment and a new centre identity. On the back of the refurbishment, footfall levels are nearing 10 million a year, and CIS has submitted an outline planning application for a further 84,000 sq ft (7,805 sq m) of floorspace for food retailing, plus a petrol station and additional shop units.

Sheila Campbell, retail surveyor at DTZ Debenham Tie Leung, joint letting agent with Briant Champion Long, said Clyde already has one food anchor in the form of Asda. However, because the existing Asda store has room for expansion, she said it is unlikely that the retailer would relocate to the new store.

The landlord is already in discussions with a number of other food retailers for the proposed store, although no deal has been agreed.