A deal is yet to be struck for one of St Andrews’ largest and most prominent commercial properties.
High Street fashion chain H&M has been at the centre of mounting speculation that it plans to take over the premises occupied by the NISA supermarket on Market Street, which closes down at the weekend.
Howeer, yesterday a spokeswoman for the UK-wide retailer refused to say if an agreement was close.
“We are always looking at lots of different locations to continue our expansion in the UK, however, we choose not to communicate externally regarding new store openings until the lease is signed,” she said.
“I can, however, state that we have been looking at St Andrews as a potential location for a new store, but at this time nothing is confirmed,” she added.
On Sunday some 20 jobs will be lost when NISA closes its doors for the final time after only around eight months of trading.
The outgoing leaseholders, Kirkcaldy’s 9L Ltd and the property agents, Hunter Property Fund Management in Edinburgh, are involved in legal proceedings.
Hunter’s has stated 9L traded from the unit without paying rent over “several months” an accusation fiercely contested.
“The lease was given to us with six months rent free,” said the NISA store owner who asked not to be named. “We were supposed to pay a £50,000 deposit by a certain date, but we were late in paying that.
“We did end up paying part of this and offered the rest but they declined. I believe they already had a deal in place with H&M and refused our attempts to get up to date with the payment.”
Commenting for Hunter’s is investment manager Iain Leheny, who said they wanted to get the premises “looking good again.”
“We are still doing everything we can to remove this illegal occupier from the unit and still expect to go to court on August 11,” he said.
Photo used under Creative Commons licence courtesy of Flickr user The Relevant Authorities.