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London, 24 May 2012
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Redevco completes deals with Pizza Express and Jo Malone
at Glasgow’s Princes Square
Redevco United Kingdom secures two new deals following multimillion pound renovation of
aspirational Scottish shopping centre.
Redevco is to boost its casual dining offer in Princes Square with the introduction of Pizza Express,
who will open in the Glasgow centre early next month. The move follows the completion of the € 9.3
million( £7.5 million) refurbishment of Princes Square, which is off Buchanan Street. Pizza Express
will open a new restaurant in the courtyard of Princes Square in June. It has signed a 25 year lease
for the scheme and will pay a commencing rent of approx. € 125,000 per annum (£100,000).
Meanwhile Jo Malone, which was already a tenant within Princes Square, has extended its lease by
a further 10 years at a rent of approx. € 124,000 per annum (£99,750).
Andrew Foulds, Portfolio Director at Redevco, said: “We are very excited to introduce Pizza Express
into one of the two casual dining floors in Princes Square. Pizza Express are a proven footfall
generator with a strong appeal across the demographic spectrum.
Jo Malone have been an important retail brand within the scheme for several years and their
reiterated long term commitment to Princes square underlines the premium retail credentials of the
centre.”
Cushman & Wakefield ad CWM advised Redevco. Pizza Express was unrepresented while Jo
Malone was advised by Lambert Smith Hampton.
PRESS RELEASE
London, 24 May 2012
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ABOUT REDEVCO:
Redevco is an independent real estate company, managing and developing one of the largest retail portfolios
in Europe, currently valued at 7.3 billion euros. The core of the portfolio comprises around 700 properties,
most of them in top locations in major cities. Redevco focuses on prime retail in good locations offering high
growth potential. Redevco is owned by COFRA Holding AG, a Swiss-based holding company.
For further information please contact:
Lisette van der Ham
Head of PR & Corporate Communications
Redevco B.V.
Wibautstraat 224
1097 DN Amsterdam, The Netherlands
Tel.: +31 20 599 6262
Fax: +31 20 599 6263
Email: [email protected]
Website: www.redevco.com
Ian Purvis
Porterfield Public Relations
Tel: +44 (0)20 7647 4420
Email: [email protected]