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Deal struck at Olivebank Retail Park

Posted on March 6, 2017

The expanding veterinary care group, Vets4Pets, is to open a new practice in East Lothian after agreeing a 2,884 sq ft let at Olive Bank Retail Park, Musselburgh.

A deal on Unit 7 has been struck with the site owner and developer, Kilmac Commercial, on a 20-year lease at £29,000 per annum. IME Property and Burns & Shaw represented Perth-based landlord Kilmac, while Rapleys represented Vets4Pets.

It is the latest boost to the retail park, which saw discount retail chain Home Bargains open a new 12,500 sq ft store on the Newhailes Road site last year.

The deal leaves just one shell unit remaining  of 2,894 sq ft with the joint agents reporting “strong interest from a number of suitable occupiers.”

IME Property managing director Iain Mercer comented: “We’ve witnessed continued growth at Olive Bank since we were brought on board to help market the development nearly two years ago.

“It’s not surprising given the ongoing popularity of out of town shopping and the fact Olive Bank provides retailers with affordable space on the East side of Edinburgh,” added Mr Mercer.

Blair Morrison, acquisitions director at Kilmac Properties, commented: “Vets4Pets is the latest big name to join a strong line-up of occupiers at Olive Bank Retail Park which already includes Home Bargains, Aldi and Iceland.

“What we offer is an exciting opportunity for secondary retailers and the kind of businesses we are continuing to attract demonstrates confidence in the location and the facilities we offer.”

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