Debenhams heads Highland retail development - commercial mortgages

08 April 2008

In news which may indicate that retail property offers some good investment prospects, the Debenhams chain has agreed to set up a new store as the centrepiece of a retail development in the Highland town of Elgin, near Inverness.

The store will be part of the 70,000 sq ft Springfield East development, which is expected to gain planning permission in June this year and scheduled to start operating in spring 2009, the Retail Bulletin reports.

Ken Ross, the chief executive officer of developers Elphinstone told the said: "We are delighted that Debenhams have progressed to this stage and share our vision for Springfield East."

Such a development comes at a time when Debenhams has been outperforming many of its rivals in the high street.

Last month the store reported only "marginally" negative falls in sales (down 0.7 per cent) in the previous six months, which the Guardian stated was a lot better than its competitors had done.