■ Durham
New Look has relocated to a flagship 17,000-sq ft unit in the Prince Bishops shopping centre. Landlord Blackrock, which was represented by Jones Lang LaSalle, agreed to relocate New Look on a new 10-year lease, at a rent of £330,000 pa. New look was represented by CBRE.
■ Colliers Wood
Hermes Real Estate has let Unit 5a at the Tandem Centre, totalling 3,789 sq ft, to Mamas & Papas on a 15-year lease at £198,922.50 pa, or £52.50 per sq ft. Wilkinson Williams and DTZ were letting agents and Thompson Heaney represented the tenant.
■ Croydon
Aviva Investors has exchanged contracts to regear Steinhoff’s interests in two retail warehouse leases on Purley Way. Aviva Investors has taken a surrender of the lease on a 7,500-sq ft unit and relet this to Emporio (t/a Easy Living) at £40.00 per sq ft. Simultaneously, it has regeared Steinhoff’s lease on a nearby 14,500-sq ft unit with monthly rents, allowing Harveys and Bensons to trade together over two floors. Wilkinson Williams advised Aviva Investors on both deals and Stephen Smart & Company acted for Steinhoff.
■ Bishop Auckland
Ravenhill Estates has let Unit 6 at the Newgate Centre to Paperbox Stores. The card retailer, which will trade as Paperbox, has agreed a new 12-month lease on the unit, which totals 1,467 sq ft and will pay an annual rent of £24,000. Paperbox Stores was represented by Capital Retail and Ravenhill Estates was represented by Savills.
■ Bolton
UBS Global Asset Management has secured Argos, part of the Home Retail Group, as its latest tenant at Bolton Shopping Park. The retailer has agreed a new 15-year lease on Unit 3, which totals approximately 10,000 sq ft, and will pay an annual rent of £195,000 or £19.50 per sq ft. Other retailers at the scheme include Sainsbury’s, Next, Boots and TK Maxx. UBS Global Asset Management was represented by Savills.
■ Bristol
West Cornwall Pasty Company has taken 34-36 The Arcades on a new 10-year lease at a commencing rent of £68,000 pax, from EPIC. West Cornwall Pasty Company was represented by Kitchen La Frenais Morgan. Landlord EPIC was represented by King Sturge.
■ Hull
British Land has leased Unit 5d on the Kingswood Retail Park, providing 3,828 sq ft, to JD Sports on a 10-year lease at £133,980 pa or £35.00 per sq ft. Wilkinson Williams and Atisreal were letting agents.
■ Knottingley
Subway has signed up to take 10 The Arcade, which totals 2,093 sq ft, from landlord Thorpe Brothers. The sandwich franchise has agreed a 10-year lease on the unit, and will pay an annual rent of £18,000. Savills represented the tenant.
■ Leeds
Eyewear chain Specsavers has acquired a new flagship store in Albion Street, Leeds, which more than doubles the size of its previous store in the city. Specsavers, has agreed a new 10-year lease on the 6,500-sq ft unit at an annual rent of £190,000. A rent-free incentive of 13 months was agreed. The unit is part of Kenmore’s Merton House scheme which involved the reconfiguration of the former Argos store on the site, totalling circa 15,000 sq ft, into three units. The scheme is due to open in mid-April. Specsavers was advised by King Sturge, Kenmore was advised by Pudney Shuttleworth.
■ Leeds
Town Centre Securities has let two units at the Merrion Shopping Centre to Toni Manning and The Abundant Life Church. Toni Manning, who will trade as WOW Hair & Beauty, has agreed a 10-year lease at 17 Merrion Way, which totals 1,069 sq ft, and will pay an annual rent of £16,000. The Abundant Life Church has agreed a 10-year lease on 13a Merrion Way, which totals 8,981 sq ft, and will pay an annual rent of £28,600. Savills was letting agent.
■ Letchworth
LaSalle Investment Management has signed up Dreams at for the 7,720-sq ft Unit 3 on the Plinston Retail Park in Letchworth. The bed retailer has agreed a 15-year lease and will pay an annual rent of £115,800, equating to £15 per sq ft. LaSalle Investment Management was represented by Savills.
■ Merthyr Tydfil
Hammerson has let Unit 2 on the Cyfarthfa Retail Park, totalling 5,000 sq ft, to JD Sports on a 10-year lease at £175,000 pa or £35.00 per sq ft. Morgan Williams and EJ Hales were letting agents and Wilkinson Williams represented the tenant.
■ Nottingham
British Land has leased the 7,183-sq ft Unit 8 on the Giltbrook Retail Park to Boots on a 10-year lease at a commencing rent of £251,405 pa or £35.00 per sq ft. Wilkinson Williams and Havills were letting agents and Montagu Evans represented Boots.
■ Plympton
Sportswift Limited t/a Card Factory has taken Unit 1, St Stephen’s Place on a new 10-year lease at a commencing rent of £41,500 pax. The premises comprise 1,700 sq ft at ground floor together with 890 sq ft of first floor ancillary space. Card Factory was advised by Jones Lang LaSalle and the landlord was advised by Larkman Edgcumbe.
■ Rochdale
Town Centre Securities has leased Unit 1b on the Central Retail Park, totalling 10,570 sq ft, to Argos on a 15-year lease at £169,120 pa or £16.00 per sq ft. Wilkinson Williams and Atisreal were letting agents.
■ Romford
Legal & General Property has let Unit 1 at Rom Valley Way Retail Park to Dreams. The bed specialist has agreed a new 15-year lease on the former Empire Direct store, which totals 13,011 sq ft. Dreams will pay an annual rent of £250,000. Rom Valley Way Retail Park totals 65,000 sq ft and tenants include Carpetright, Pets at Home, Mothercare and Pizza Hut. Legal & General Property was represented by Savills.
■ Stafford
British Land’s Hercules Unit Trust has let the 7,591-sq ft Unit 1b on the Queens Retail Park to Mothercare on a 15-year lease at £170.797.50 pa or £22.50 per sq ft. Wilkinson Williams and Savills were letting agents and Harvey Spack Field advised
the tenant.
■ Tamworth
Royal London Asset Management has agreed a pre-let with Volkswagen Group for a vehicle dealership building under construction on Plot 2, Cardinal Point Motor Park, Tamworth. The manufacturer is taking a 25-year lease at a rent of £430,000 pa and sub-letting to Lancaster plc. RLAM was advised by Strutt & Parker. Robert Stephens & Co represented the Volkswagen Group United Kingdom Limited.
■ Towcester
CML Investments has bought the freehold of the Homebase unit, Old Tiffield Road from Legal & General, for £2.65m, reflecting a net initial yield of 8.50 per cent. The property comprises a 20,946-sq ft purpose built Homebase retail warehouse, completed in 2004 with a 6,852-sq ft garden centre alongside. The building is let for 25 years from September 2003, with a current rent passing of £238,389 pa. CML agreed to pay a base price of £2.65m subject to a top-up on settlement of an outstanding rent review. The purchaser was advised by Strutt & Parker and Montagu Evans acted for Legal & General.
