Lettings for June 2010
Published: 17 June, 2010
Lettings for June 2010
ABERDEEN
Hawkin’s Bazaar has acquired 36 Bon Accord providing 1,326 sq ft of ground floor sales space on a new 10-year lease at a commencing rent of £52,500 pax. Williams Gunter Hardwick advised Hawkin’s Bazaar while the landlord, Land Securities, was represented by FG Burnett.
Birstall
TJX Group, t/a Homesense, has taken a new 15-year lease on the 11,400-sq ft former Borders unit on the Spring Ram Retail Park. It has agreed a rental of £32.50 per sq ft. The park, whose tenants also include Habitat, was bought by Leeds & London Investment in April last year for £8.1m from NPI, part of the Pearl Group. Knight Frank is letting agent and Morgan Williams advised Homesense.
Bootle
Virgin Media has acquired 46 Medway in the Strand shopping centre, providing 898 sq ft of ground floor sales with mezzanine and basement storage, by way of assignment of an existing lease expiring in December 2014. The current passing rental is £40,000 pax. Williams Gunter Hardwick and GVA Grimley represented Virgin Media while the assignor, Shoe Zone, was represented by Ramsdens.
Bristol
Aviva Investors has reconfigured a 48,668-sq ft part-vacant store on its Centaurus Retail Park at Cribbs Causeway. The store was previously occupied by Carpetright, MFI and Halfords but as part of Aviva’s asset management strategy Carpetright was relocated to another unit on the park after MFI went into administration.
The store was reformatted to create two units making way for Best Buy to take 39,934 sq ft on a 10-year deal at £1.2m pa. Meanwhile Aviva also negotiated a surrender of Halfords’ former lease before it agreed new 15-year deal at a rent of £270,754 pa on the remaining 8,734 sq ft. Aviva was advised by Edgerley Simpson Howe & Partners. Briant Champion Long advised Best Buy.
coventry
Eire Precinct has leased 21,804 sq ft at 10-12 Market Way to Poundland on a 15-year lease at £220,000 pa. Colliers was letting agent and Jones Retail represented Poundland.
croydon
Aviva Investors has leased Unit3a, the Purley Way Centre, totalling 8,719 sq ft to Mamas & Papas on a new 15-year lease at £208,750 pa. Wilkinson Williams was letting agent and Thompson Heaney advised the tenant.
Evesham
British Land’s Hercules Income Fund has let 8,095 sq ft at Unit 2, Evesham Shopping Park to Boots the Chemist on a 15-year lease at a commencing rent of £202,375 pa equating to £25.00 per sq ft. Wilkinson Williams and Harvey Spack Field were letting agents and Montagu Evans represented Boots.
Farnborough
Boots has taken a 10-year lease on the 7,056-sq ft Unit D, Blackwater Shopping Park from Henderson Retail Warehouse Fund at a commencing rent of £245,055 pa equating to £34.73 per sq ft. Wilkinson Williams and Morgan Williams were letting agents while Montagu Evans represented the tenant.
Leeds
Cath Kidston is taking a 10-year lease on a 3,000-sq ft unit in Queens Arcade, Lands Lane, at an initial rent of £115,000 pa. The unit was previously occupied by homewares retailer Peter Jones which opted not to renew its lease. King Sturge was letting agent on behalf of property owner Co-operative Insurance Society Fund.
Luton
British Land has let Unit 5A at Hatters Way Retail Park to independent furniture retailer Exclusive Leather Sofas. The furniture retailer will take a store totalling 10,045 sq ft on a new 15-year lease. Exclusive Leather Sofas will pay £218,479 pa. British Land was represented jointly by Savills and Harvey Spack Field.
Nottingham
Next has leased the 20,446-sq ft Unit 2 on the Giltbrook Retail Park for a 15-year term from British Land at a commencing rent of £766,725 pa, equating to £37.50 per sq ft. Wilkinson Williams was letting agent.
penicuik
LJR Properties has leased 8,450 sq ft at Unit 14-16 The Silvergait Centre to the Factory Shop on a new 15-year lease at £65,000 pa. Eric Young & Co was letting agent and Hartley Cowley advised the tenant.
Staines
Casual dining restaurant Frankie and Benny’s has taken a new 25 year-lease on a 3,842-sq ft unit on the Two Rivers retail park at a commencing rent of £100,000 pa. Lunson Mitchenall acted for API in the surrender of Blockbuster’s lease and the new letting. Wareing and Partners advised City Centre Restaurants.
Taunton
AXA Sun Life has let 10,000 sq ft at Unit 4, Priory Fields Retail Park to TJX UK (t/a HomeSense) on a new 15-year lease at £230,000 pa or £23.00 per sq ft. Wilkinson Williams and CBRE were letting agents and Morgan Williams advised the tenant.
Trowbridge
Poundland has taken a new lease on 5,770 sq ft at Units 7 and 8 The Shires shopping centre from landlord Threadneedle Property Investments.
A commencing rent of £139,500 pa was agreed. Jones Retail represented the tenant.
Tunbridge Wells
LXB Properties has let 15,000 sq ft at Unit 5, The Fountains Retail Park to TJX UK (t/a HomeSense) on a 15-year lease at a commencing rent of £337,500 pa, equating to £22.50 per sq ft. Wilkinson Williams and Camplin Bianco were letting agents and Morgan Williams advised the tenant.
