Bournemouth
Orchard Street Investment Management has acquired the Mallard Road Retail Park for £25.5m for its Special Situations Fund. The vendor was Aviva. Mallard Road Retail Park was developed in 2007 and is located opposite the Castlepoint Shopping Centre. Major tenants in the park are Homebase, Bhs, Currys, PC World and Carpetright. There are eight units in total, and all are fully let. Average rents are approximately £21 per sq ft and the total rent roll is £2.65m pa. CBRE advised Aviva.
Cambridge
British Land has let the 7,507-sq ft Unit 1 in the Beehive Centre to Dreams on a 15-year lease at £187,675 pa. And the 10,662-sq ft Unit 4 has been let to HomeSense on a 15-year lease at £266,550 pa. Both lettings reflect £25.00 per sq ft. Morgan Williams represented HomeSense while Wilkinson Williams and Harvey Spack Field were letting agents.
Cardigan
The Factory Shop has agreed a new 20-year lease on the former Woolworths store in Cardigan High Street, which totals 12,916 sq ft. The Factory Shop will pay an annual rent of £70,000. The landlord, a private London-based property company, was represented by Savills, and The Factory Shop was represented by Calan Retail.
Dundee
Burger King has taken a unit on the upper mall in Overgate Shopping Centre in comprising 1,636 sq ft at a rental of £70,000 pax on a new 10-year lease. SGM Property Consultants acted for the landlord, Lend Lease, while Cushman & Wakefield acted for Burger King.
leeds
Thomas Sabo, the internationally renowned jewellery retailer, has taken a unit in the Victoria Quarter as its first Yorkshire store. Thomas Sabo has signed a new 10-year lease on the 1,500 sq ft retail unit at 26 Queen Victoria Street at an annual rent of £77,000. It will open in June adjacent to the new Folli Follie store, which opened in May. King Sturge was letting agent and Michael Peddar & Co advised Thomas Sabo.
LEEDS
Town Centre Securities has let Unit 7 at The Merrion Centre in Leeds to Timpson. The retailer has agreed a new 10-year lease on its ground floor store, which totals 378 sq ft. Timpson will pay £15,000 pa. The landlord was represented by Savills.
Leeds
Marks & Spencer has agreed a 25-year lease on a 14,972-sq ft store at Unit 12, Birstall Shopping Park. The initial rent of £748,600 pa reflects £50.00 per sq ft. Wilkinson Williams was letting agent on behalf of British Land’s Hercules Unit Trust, Hermes and Aviva Investors.
liverpool
Designer jewellery boutique Mococo has taken a 352-sq ft store in the Metquarter. It will pay an annual rent of £22,500 pax. Savills and Knight Frank are joint letting agents.
Portishead
Developer Quadrant Estates has secured a new letting for what is believed to be the only standalone retail warehouse scheme currently under construction in the country. The development at Wyndham Way will provide 21,500 sq ft across four retail units, three of which have been pre-let to New Look, Peacocks and most recently, Pets at Home which has taken 4,500 sq ft. Rents of up to £16.66 per sq ft have been secured. Letting agent is Stephen Smart & Co. The scheme has been funded by Rowe Estates, which was advised
by Cluttons.
Portsmouth
Restaurant chain group Prezzo has received a £325,000 cash contribution to take another outlet at CBRE Investors’ Port Solent mixed-use development. Prezzo already has one of its eponymous Italian restaurants at the waterside scheme and because this is trading very well it has now agreed to take a 25-lease on another 2,500-sq ft restaurant for its Chimichanga Tex-Mex offering. It is paying a rent of £50,000 pa. Prezzo was represented by Restaurant Property.
Solihull
Standard Life has let Unit D3, providing 7,750-sq ft, on the Solihull Retail Park to Hobbycraft on a 15-year lease at £251,875 pa. The rent equates to £32.50 per sq ft. Wilkinson Williams advised the landlord.
stamford
The fast-expanding designer shoe company Soloro Footwear has acquired a new shop unit at 2 Red Lion Square. A new 15-year lease has been agreed with landlord Manorgrove Estates at a commencing rent of £30,000 pax on the property which comprises a ground floor sales area of 786 sq ft plus staff facilities. Soloro Footwear was represented by its retained property advisor twentyretail.
Swindon
Highcross Strategic Advisers has let Unit 19 at the Kembrey Trade Centre to bathroom specialist BASCS. The unit has been let on a new 10-year lease and the quoting rent was £30,900 pa. Loveday and Loveday was letting agent.
Swindon
Demac Properties has let Unit 2 at 55-61 Regent Street to Shakeaway. The milkshake retailer, just voted Retailer of the Year by the readers of Shopping Centre, has agreed a new 10-year lease on the property totalling 808sq ft and will pay an annual rent of £51,000. Landlord Demac Properties was represented by Savills and Shakeaway was advised by Smith Price.
