King Sturge’s Scottish retail team has just concluded another major deal in Glasgow on behalf of real estate investment manager PRUPIM. Caledonian House at 116/120 Argyle Street has been let to trendy shoe retailer Footasylum on a 15-year lease, at an annual rental of £400,000.

The property is located adjacent to the St Enoch Centre and forms part of a traditional four-storey traditional sandstone building. It was formerly occupied by the Original Shoe Company.

Footasylum will occupy 9,000 sq ft over the basement, ground and first floors. This is the Footasylum’s second venture in Scotland, with the company already trading from a unit at Silverburn.

Commenting on the deal, Douglas Hogg, partner with King Sturge in Glasgow said: “This is a prime location which generated considerable interest.  We are delighted to secure a dynamic brand like Footasylum, who will add vibrancy to the retail offering in Glasgow.

“Glasgow is one of the leading shopping destinations in the UK and securing this unit fits well with Footasylum’s strategy of securing prime units in key locations”.

Will Cotmore, Director at PRUPIM added: “This deal is good news for Glasgow and we are pleased that an up-and-coming tenant like Footasylum has committed to this location”.

Footasylum was established in late 2005 and is now trading with 17 stores in locations including Birmingham, Manchester, Nottingham, Romford, and London.  Footasylum’s mission is to provide a footwear and clothing institution which offers consumers the best products in an innovative environment offering a new, conceptual shopping experience.

King Sturge advised PRUPIM, Jeff Worrall of Lawson Hubbard Lowe acted for Footasylum.