INDEPENDENT property agency and chartered surveyor Ryden has secured a major five-year contract to provide rent reviews and lease renewals for 448 locations owned by the Co-operative Group.
Ryden, which has offices in Edinburgh, Glasgow, Aberdeen, Dundee, Inverness and Leeds, said it had won the deal following a two-stage competitive tender process.
The company will now be working at properties owned by Co-op across Scotland, Northern Ireland, Isle of Man and the north east of England to identify new tenants and negotiate rents.
Ryden said it was the first time it has worked for Co-op on such a large scale.
Mandy Watson, associate, will lead the Ryden team and said specialists from each of its offices would be involved.
She said: "We are pleased to have won this significant contract and are looking forward to working with one of the UK's most diverse and well-known brands."
Ann Le Blond, estates manager at the Co-op, said: "The Co-op has a diverse portfolio. Ryden provides the external expertise, market knowledge and geographical coverage required to provide a best in class service in the coming years."
Separately, CBRE said it does not think lower oil prices will lead to prices in the office market in Aberdeen dramatically tumbling. However take up of prime space may be slower than in recent years.
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