Lettings
Published: 18 March, 2009
Aylesbury
Holland & Barrett has taken an assignment of Clinton Cards’ existing lease on Unit 43, Friars Square Shopping Centre. The lease expires in October 2018 and the current passing rent is £80,000 pax. The premises comprise 1,520 sq ft on ground floor plus 420 sq ft of ancillary space. Smith Price acted on behalf of Holland & Barrett while Brasier Freeth represented Clinton Cards.
Corby
Specsavers has taken a new 15-year lease on 25 New Post Office Square, providing 1,608 sq ft of ground floor sales space and 1,510 sq ft of first floor storage, at £45,000 pa after three months rent free. Rowley Hughes Thompson and Chase & Partners were letting agents on behalf of Land Securities.
Durham
Blackrock Investments has let the 300-sq ft Unit 46 in the Prince Bishops Shopping Centre to FX Currency on a 10-year lease at an annual rent of £19,500. Blackrock was advised by Jones Lang LaSalle, FX Currency was represented by Brasier Freeth.
Accrington
PR Arndale has leased the 230-sq ft Cornhill Kiosk in the Arndale Centre to FX Currency Services on a 10-year lease with a break option at year five. The initial rent is £12,000 pax. Douglas Simister was letting agent and Brasier Freeth represented the tenant.
Arbroath
Card Factory has acquired Unit 4, 212 High Street from W R Morgan Enterprises. The greeting card retailer has acquired the 1,200 sq ft shop property on a 10-year lease at an annual rent of £27,500. Culverwell represented the landlord and Card Factory was advised by Jones Lang LaSalle.
Ashton Under Lyne
Executive Coffee, trading as Costa Coffee, has taken a new 10-year lease on Unit 29, Staveleigh Mall in the Ladysmith Shopping Centre at an initial rent of £51,000 pax. The unit provides 2,470 sq ft of ground floor sales space. Cushman & Wakefield represented the landlord, Redleaf VI (Ashton) Limited Partnership, and Ravenscroft & Co represented Executive Coffee.
Chorley
RREEF has let the 1,100-sq ft Unit 7 Market Walk to Vodafone on a 10-year lease at an annual rent of £53,000. RREEF was advised by Jones Lang LaSalle and Keenan & Co. DTZ represented Vodafone.
Cumbernauld
London & Regional has leased the 4,936-sq ft Unit 24 in the Antonine Shopping Centre to Boots the Chemist. Thoms & Company represented the tenant.
Dunfermline
Crosslands Properties has leased units LG03A & G02A in Phase 2 of the Kingsgate Shopping Centre to Arcadia. A new 10-year lease has been agreed at a commencing rent of £60,000 or 6.5 per cent of gross turnover. There is a tenant’s break option at year five and the landlord agreed to three months rent free and a capital contribution of £1m. At the same time Hawkins Bazaar has taken unit LG01 on a 12 month licence at an all inclusive rent of £4,000 per month from 1 January 2009 to 31 August 2009, and £6,000 a month until 31 December 2009. Cushman & Wakefield is letting agent.
Leeds
Town Centre Securities has let the former Woolworths store at the Merrion Centre to Home Bargains on a new 15-year lease. Home Bargains will pay an annual rent of £231,250 on the unit, which is arranged over two floors and totals 15,158 sq ft. In addition to Home Bargains, a number of other new retailers have also recently taken space at the Merrion Centre including Ethel Austin which has taken 3,611 sq ft on a five-year lease. Of the total 400,000 sq ft of retail and leisure space at the Merrion Centre, just 6,500 sq ft now remains available to let in five units. Savills was letting agent and Home Bargains was represented by bennett.
Liverpool
Boots has acquired a new store at 9 Church Street from Aegon UK Property Fund. The retailer has agreed a new lease on the unit, which will create a well configured store in the city centre. Boots will pay an annual rent of £595,000 for the space totalling 12,714 sq ft. Aegon UK Property Fund was represented by Jones Lang LaSalle and Boots was advised by Savills.
Manchester
Stretford Mall has let the 1,200-sq ft 42/43 Upper Walk, Stretford to Game Xchange on a three-year lease at an annual rent of £12,000. The landlord was advised by Jones Lang LaSalle, Tushingham Moore represented Game Xchange
Newcastle
British Land’s Hercules Unit Trust has leased the 5,000-sq ft Unit G2 on the Silverlink Retail Park to JD Sports on a new 10-year lease at £212,500 pa or £42.50 per sq ft. Wilkinson Williams and Harvey Spack Field were letting agents.
Sheffield
Legal and General has let Unit 5 at Valley Centertainment to We Make Sandwiches, trading as Subway, on a new 15-year lease at £38,000 pa. The unit totals 1,334 sq ft. L&G was advised by Savills, and We Make Sandwiches was represented by Colliers CRE.
Stafford
Poundland has taken a new 10-year lease on 1-4 Guildhall Shopping Centre, providing 4,200 sq ft of ground floor sales and 1,970 sq ft at first floor, at £150,000 pax. Rowley Hughes Thompson and Knight Frank were letting agents and Jones Chartered Surveyors represented the tenant.
Stirling
Kleinwort Benson has leased Unit 44c, Bastion Wynd in the Thistles Shopping Centre to Parchment on a new 10-year lease at a commencing rent of £39,000 pa or 12 per cent of gross turnover, whichever is the greater. The tenant negotiated three months rent free and a capital contribution of £52,500. Cushman & Wakefield was letting agent and SGM Property Consultants represented the tenant.
Warrington
Warrington Retail Limited Partnership has let 1,300 sq ft in the Golden Square shopping centre to T Mobile. The mobile phone company has taken a 10-year lease at an annual rent of £95,500. T Mobile was advised by Harper Dennis Hobbs and the Warrington Retail Limited Partnership – made up of Lend Lease and Legal & General – was advised by Jones Lang LaSalle and Tushingham Moore.
Worcester
Argos has agreed a new 15-year lease on 12,320 sq ft at the Elgar Retail Park, at a commencing rent of £240,240 pa or £20.50 per sq ft. The park has recently seen a full refurbishment, which has led to a number of lettings. In addition to the Argos deal, Allied Carpets has relocated within the park, with Dunelm taking a 23,000-sq ft unit. Maplin acquired a 5,300-sq ft unit and the landlord, BriTel Trustees also recently completed a new pod unit, let to KFC. Wilkinson Williams and CBRE were letting agents and Mason Owen represented Argos.
York
Royal London Mutual Insurance Society has let 23 Coney Street, York to Poundworld. The two-storey property has a total sales area on the ground floor and at basement level of 5,730 sq ft and has been taken on a 10-year lease at an annual rent of £230,000. Poundworld was advised by Mike Francis & Co and Royal London Mutual Insurance was advised by Jones Lang LaSalle.
