The 47,800-square-foot development will comprise eight retail and leisure units. The largest has been pre-let to anchor tenant B&M, which has taken 23,000 sq ft plus 7,500 sq ft for a garden centre. Other pre-lets have been agreed with Indigo Sun and Burger King with a further unit currently under offer to a national coffee chain. The four remaining units are available for rent.

The retail park is adjacent to an existing Tesco supermarket and within walking distance of the town centre. It will have 159 car parking spaces and, with a catchment area of 118,571 people, is expected to draw additional shoppers to the town.

Cupar is one of several locations that London and Scottish, part of Glasgow-based London & Scottish Property Investment Management, is in the process of redeveloping following its successful acquisition of 14 redundant sites from Tesco in 2015.

Andy Richardson, director at London & Scottish Developments, said: “This site has lain undeveloped for many years, and we are delighted to have worked with Fife Council to regenerate it to meet modern occupier demands. This new and exciting retail outlet, with its good parking and open-plan, modern accommodation not available elsewhere in the town, will complement Cupar’s existing High Street offer.

“The development will create 120 to 140 long-term retail jobs as well as 40 construction jobs during the build and fit-out phases. Work will commence in November and the site is expected to be completed in August 2021.

“This site represents the latest in a series of successful retail developments. In addition to securing planning consent recently for developments in Barrhead and Crieff, we have previously completed retail parks at Cowdenbeath, Aviemore, Cumbernauld and Paisley. We welcome approaches from landowners who wish to undertake similar schemes and require a well-funded partner.”