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Second out-of-town HMV/Waterstone’s store opens

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Fort Kinnaird Shopping Park has unveiled a new concept double-fascia HMV and Waterstone’s store this week.

HMV doubled its unit size at the retail park outside of Edinburgh by relocating to a 15,180 sq ft store, and has added a Waterstone’s and Starbucks concession on its mezzanine level.

This is only the second time HMV Group has mixed its two retail formats in an out-of-town store but its management seem assured that this outlet will prove a success.

Mark Bowles, Property Director at HMV Group, commented: “Fort Kinnaird has been a great location for HMV, but we were confident we could do more.

“Out-of-town, we see double-fascia units as a key area of growth and regard Fort Kinnaird as a template for both how we execute the stores, and the types of location that we will be focusing on.”

A transitional period for HMV Group saw like-for-like sales drop 14.9 per cent in the UK & Ireland in the last quarter, and the merging of HMV and Waterstone’s operations is an attempt to revive sales for the Istruggling bookseller which overhauled its management earlier this year.

Retail parks are seeing a resurgence in footfall compared to the declining popularity of the high street, and HMV recently vacated one of its Oxford Street stores in London.

Fort Kinnaird is owned by British Land which dealt directly with HMV through its agents Morgan Williams, Montagu Evans and Eric Young and Co, on the double-facia store deal.

Dan Clark, the British Land’s asset manager responsible for Fort Kinnaird, said: “Fort Kinnaird is the dominant out-of-town location in the Edinburgh region and one of the best-performing retail parks in Scotland.

“As such, it is the ideal location for new and innovative concepts, such as the HMV/Waterstone’s flagship store.”

Published on Friday 03 December by Editorial Assistant

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