Shopping Centre
lettings
Published:  17 July, 2008
Page 36 

? ALLOA

Unit 3, Mowbray Walk, Shillinghill, has been let to Caversham Trading (t/a BrightHouse). The 4,000-sq ft unit has been taken on a 10-year lease at a commencing rental of £49,000 pax after a rent-free period of nine months. Smith Price acted for the tenant while the landlord, AGE, was advised by Knight Frank.


? Aylesbury


Chiltern Jewellers has taken a 10-year lease on Kiosks 2 and 3 in the Hale Leys shopping centre, totalling 245 sq ft, at £20,000 pa. Cushman & Wakefield was letting agent.


? barrow-in-furness


Standard Life Investments has let a retail store at Hollywood Park to Dreams. The beds specialist has taken a 10,033-sq ft store at a rent of £16.50 per sq ft on a new 15-year lease. The retail park is fully let to Comet, Currys and JJB Sports as well as other leisure operators. Edgerley Simpson & Howe & Partners and King Sturge advised Standard Life Investments.


? bordon


YMCA has taken a 10-year lease on the 1,158-sq ft Unit 7 in the Forest shopping centre at a commencing rent of £25,000 pa. Stephen Kane & Co was letting agent and Williams Gunter Hardwick represented the tenant.


? bracknell


Bracknell Regeneration Partnership has signed a lease with retailer Diamonds & Pearls, on 2 Princess Square. Diamonds & Pearls has signed a 10-year lease on the property, which has a 741-sq ft trading floor and 224-sq ft basement, at £65,000 pa.


? brighton


Fashion brand Fred Perry is to open one of its Limited Edition 'Laurel' shops at 1/2 Dukes Lane. A new 10-year lease has been negotiated at a rent of £65,000 pax. The unit comprises a ground floor of 700 sq ft and a basement of 400 sq ft. And street wear brand Addict Clothing has taken a new 10-year lease on 7 Dukes Lane, providing 580 sq ft, at £35,000 pax. Cheval Properties acquired Dukes Lane last year and is advised by twentyretail. Fred Perry was represented by Michael Peddar & Co and Addict by Stiles Harold Williams.


? chesterfield


Diamonds & Pearls has taken 1,585 sq ft at Unit 13, The Pavements shopping centre, on a 15-year lease at £51,000 pa. BTWShiells was letting agent on behalf of Chesterfield Borough Council while Capital Retail represented the tenant.


? colchester


Prupim has let 2,343 sq ft at 8, Culver Square to Paperchase on a 10-year lease at £105,000 pax after a three-month rent-free period. Cushman & Wakefield was letting agent and CBRE advised the tenant.


? dunfermline


Starbucks has taken a new 15-year lease, with a tenant's break option on the 10th anniversary, on the 1,450-sq ft Unit G14a in Phase 2 of the Kingsgate shopping centre. A commencing rent of £62,500 pa was agreed with the landlord, Crosslands Properties. Cushman & Wakefield was letting agent and Eric Young & Co advised the tenant.


? Glasgow


Caversham Trading (trading as BrightHouse) has taken an assignment of JJB Sports' lease on Unit 23, the Forge shopping centre. The unit has 2,502 sq ft of ground floor sales space and 949 sq ft of first floor storage, and is held on a lease expiring in October 2013. The passing rent of £110,150 pa was due for review in October 2007. Smith Price advised Caversham and JJB was advised by Briant Champion Long and Whitelaw Baikie Figes.


? Glasgow


Crêpe à Croissant is the latest catering tenant to open an outlet at the Buchanan Galleries shopping centre. It has taken a 540-sq ft unit and has agreed a 10-year lease at a rental of £70,000 pa. Culverwell acted on behalf of the Buchanan Partnership - a joint venture between Land Securities and Henderson Global Investors - with Whitelaw Bakie Figes representing Crêpe à Croissant.


? Glasgow


Baguette Express has taken the 365-sq ft Kiosk 16 at the Glasgow Fort shopping park on a 10-year lease at a commencing rent of £35,000 pa. Montagu Evans was letting agent and Culverwell represented the tenant.


? Greenock


Costa Coffee has taken a 15-year lease on the 1,900-sq ft Unit 53, Oak Mall at a commencing rent of £53,000 pa, with six months rent-free and a break option at year 10. Cushman & Wakefield was letting agent.


? greenwich


Prupim has let Unit 1B at the Peninsular Retail Park to Smyths Toys. The landlord took a surrender of JJB Sports' lease at the retail park and simultaneously agreed a new 10-year term on the 15,072-sq ft property. Smyths Toys will pay an annual rent of £452,160 pa, equating to £30 per sq ft. Prupim was advised by Savills, Smyths Toys was represented by Capital Retail, and JJB Sports was advised by Morgan Williams.


? HALESOWEN


Gamestation has taken a new 10-year lease, incorporating a tenant only option to break at year five, on 38 Hagley Mall at an initial rent of £60,500 pax. The unit provides 1,531 sq ft of sales space plus first floor storage. Williams Gunter Hardwick represented the tenant and the landlord, Vale Retail (Cornbow), was represented by Adam Perrey.


? HAmilton


B&M Bargains has taken a 10-year lease on 10,032 sq ft at Unit 5 on the Hamilton retail park. A commencing rent of £150,500 was agreed. Culverwell was letting agent and Burns Property Consultants represented the tenant.


? Harlow


Gamestation has taken an assignment of Cheltenham & Gloucester's 25-year lease expiring in 2023 on 8 Broadwalk, providing 1,530 sq ft of ground floor sales space with ancillary space on two upper floors. The passing rent is £54,600 pa. Williams Gunter Hardwick represented Gamestation and Cheltenham & Gloucester was represented by King Sturge.


? Hartlepool


River Island has taken a new 10-year lease on Unit 188/189 and part of Unit E in the South Mall of the Middleton Grange shopping centre. The new store totals 8,175 sq ft and a commencing rent of £176,000 pa was agreed. Grainger Games has taken 1,433 sq ft at Unit 131 Victoria Road in the centre on a 10-year lease after a three-month rent-free period. The commencing rent is £39,000 pa. Joint letting agents on behalf of landlord PPG Metro 500 were Cushman & Wakefield and Central Retail, while Keenan & Co represented River Island.


? King's Lynn


Burger King has taken a new 20-year lease, with a tenant's break option at the end of the 15th year, on Unit SU2 Vancouver Quarter. The 2,532 sq ft unit has been leased at £60,000 pa or 10 per cent of gross turnover, whichever is the greater. Cushman & Wakefield advised the tenant.


? Kirkcaldy


JJB Sports has taken 15,000 sq ft at the Mercat shopping centre on a 15-year lease at £115,000 pa. Cushman & Wakefield and Atisreal were letting agents.


? Leicester


Caversham Trading (trading as BrightHouse) has taken a new lease on Unit 72/74, 31 Belgrave Gate in the Haymarket centre. The 3,112-sq ft unit has been taken on a 10-year lease at £53,000 pa with three months rent-free and a tenant-only break option at year five. Smith Price advised Caversham and the landlord, ING's Britannia fund, was advised by Douglas Stevens & Co.


? Liverpool


Greggs has taken a new 10-year lease on 1,142 sq ft at 4 Wall Street in Liverpool One at a commencing rent of £65,000 pa. Tushingham Moore and Strutt & Parker were letting agents while Mason Owen & Partners represented the tenant.


? London SE16


Starbucks has taken Unit 13 at the Surrey Quays shopping centre, providing 2,300 sq ft, on a 10-year lease at £82,000 pa. Morgan Williams was letting agent and Montagu Evans advised Starbucks.


? London W12


Henleys Retail has taken a pre-letting on the 2,047-sq ft Unit 1064, Level 40, Southern Mall, Westfield London. A new 10-year lease has been agreed at £310,000 pax. Cushman & Wakefield acted for the tenant. CBRE and DTZ were letting agents.


? Manchester


Geox has taken a new 10-year lease on 1,551 sq ft at Unit 54, 107 The Dome in The Trafford Centre at £330,000 pa. Cushman & Wakefield was letting agent and Reid Rose Gregory represented the tenant.


? Milton Keynes


Tesco BL Properties has let Unit 5a in the Kingston Centre, providing 3,640 sq ft, to C&J Clark on a 10-year lease at £191,100 pa or £52.50 per sq ft. Wilkinson Williams was letting agent and Green & Partners advised the tenant.


? north shields


Nike has taken a new 10-year lease on a 5,000-sq ft unit in the Royal Quays centre at £76,750 pa. Brian Oakwell & Co was letting agent while Sanderson Weatherall represented the tenant.


? nottingham


Bildurn Properties has completed the letting of the first unit at The Pod, a new development in the Lace Market. A unit of 6,000 sq ft has been let to Tesco for a Tesco Express store on a 15-year lease at a rent of £110,000 pa. Fisher Hargreaves Proctor and CBRE are letting agents.


? Pontardawe


Focus DIY has taken a 20-year lease on 26,227 sq ft at the Pontardawe Retail Park at £275,383.50 pa or £10.50 per sq ft. Wilkinson Williams advised Focus.


? Reading


Italian footwear and fashion retailer Geox has taken a 2,280-sq ft store on The Riverside level of the Oracle shopping centre on a new 10-year lease at an annual base rent of £228,000. Geox is advised by Reid Rose Gregory while DTZ acted on behalf of landlord Hammerson.


? RUGBY


Poundland has taken a new 10-year lease at Unit 16, 5 Manning Walk, The Clock Tower shopping centre, Rugby, from Mothercare. The property provides 3,764 sq ft of ground floor sales space and 3,285 sq ft of storage space. The commencing rent was £115,000 pa. Poundland was represented by Capital Retail and Mothercare was represented by CB Richard Ellis.


? Selby


Yeoman's Outdoor has taken a 1,042-sq ft unit in the Market Cross shopping centre on a 10-year lease at £22,500 pa. Market Cross is owned by Dransfield Properties and Ethel Austin Properties. Rees Denton acted for both parties.


? sheffield


Bathrooms 4 All has taken a 12,500-sq ft unit on Standard Life Investments' Meadowhall retail park in Attercliffe Common. A 15-year lease has been granted at £262,000 pa. Edgerley Simpson Howe & Partners and Savills were letting agents.


? Walsall


British Land's Hercules Unit Trust has let Unit 3-4 on the Crown Wharf shopping park, providing 15,100 sq ft, to Smyths Toys on a new 15-year lease at £339,750 pa or £22.50 per sq ft. Capital Retail advised the tenant and Wilkinson Williams was letting agent.


? WarringtoN


Brewsters Hairdressing has taken a 10-year lease on 912 sq ft at Unit 11, the Forge shopping centre at an initial rent of £27,000 pa. Brady's was letting agent on behalf of JBZ Properties.


? WarringtoN


Reed Employment has taken a 10-year lease on 2,112 sq ft at Unit 1 in the Time Square shopping centre at a commencing rent of £36,500 pa. Cheetham & Mortimer was letting agent and Legat Owen represented the tenant.


? weston-super-mare


SCS has taken Unit 2 on the Flowerdown retail park, providing 10,000 sq ft, on a 15-year lease at an initial rent of £180,000 pa. Harvey Spack Field was letting agent on behalf of Cranford Weston while Thompson Heaney acted on behalf of the tenant.


? WIGAN


Poundland has taken a new 10-year lease on Unit 79 in Mersey Holdings' Galleries shopping centre at £130,000 pa. The property provides 5,415 sq ft of ground floor sales space and 2,100 sq ft of storage space. Poundland was represented by Jones Retail and Mersey Holdings was represented by Churston Heard.


? Wrexham


Bank Fashion has taken a new 10-year lease on the 3,910-sq ft Unit D9 in the new Eagle Meadows shopping centre, due to open in September 2008. A rent of £110,000 pa was agreed. Bradys represented the tenant while Cushman & Wakefield and Jones Lang LaSalle are letting agents on behalf of Wilson Bowden.


? Blackpool


Costa has taken a new 15-year lease on Unit N112 in Modus' new Houndshill shopping centre. The unit provides 1,463 sq ft and a rent of £70,000 pa was agreed. Savills, Lunson Mitchenall and Keenan & Co are letting agents and Legat Owen represented the tenant. When the refurbished and extended Houndshill centre opens on 21 August 2008 it will have tripled in size to 400,000 sq ft.



? Bristol


The Soho Coffee Company has taken a new 10-year lease on 1,082-sq ft of retail space in Unit LR 20, located on the Lower Mall at The Mall at Cribbs Causeway. A base rent of £150,000 pax was agreed and a turnover top-up and three-month rent free period was included. Cushman & Wakefield and GVA Grimley were joint letting agents on behalf of Capital Shopping Centres, Prupim and JT Bayliss. The tenant was unrepresented.



? Manchester


Art retailer Castle Galleries has taken a new 10-year turnover lease on the 750-sq ft Unit L82, located in Regent Crescent, the speciality shopping district of the Trafford Centre. A base rent of £175,000 pax was agreed. In addition, a turnover top-up and a three-month rent-free period was granted. Shop Front Property Consultants represented the tenant and Cushman & Wakefield was the letting agent on behalf of Peel Holdings.


SHAKEAWAY SPREADS ITS WINGS

ShakeAway, the specialist milkshake retailer, has acquired two new units at Lakeside Thurrock and Festival Place, Basingstoke, as part of the expansion programme which will see it grow from 12 to 20 branches by the end of 2008.

At Lakeside, Unit 60 Lower Level offers a ground floor area of 360 sq ft (together with remote storage) and has been acquired on a new 10-year lease at a commencing rental of £44,000 pa.

And in Basingstoke Unit 21, Hampstead House, Festival Place has been acquired on a new 10-year lease at a commencing rental of £19,500 pax after six months rent-free. A break option was granted at year five. The property offers 717 sq ft at ground floor with a first floor mezzanine of 74 sq ft.

ShakeAway is represented by Smith Price. At Lakeside CSC was represented jointly by Lunson Mitchenall and CWM, and in Basingstoke Grosvenor was represented jointly by Savills and Briant Champion Long.



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