Lettings
Published: 22 July, 2010
ABERDEEN
Unit 7, Middleton Park, Bridge of Don has been let to Baguette Express on a 10-year lease at £23,000 pa which is a record rate for a neighbourhood retail unit in Aberdeen at just over £40 per sq ft. Knight Frank was letting agent for West Coast Estates.
Braehead
The Xscape Braehead Partnership has let Unit 28, Xscape, totalling 2,420 sq ft, to HJM Funstation on a new 10-year lease. The rent for the first two years will be £25,000 pax after a six-month rent-free period, followed by £27,500 pax in year three and then £30,000 pax in years four and five. Briant Champion Long was letting agent and Brasier Freeth represented the tenant.
COVENTRY
Mourant Property Trustees has let the former Borders unit on Coventry Arena Shopping Park to New Look. The fashion retailer has taken the 20,000-sq ft ground and mezzanine store on a new 10-year lease at £480,000 pa. Other tenants on the 220,000-sq ft retail and leisure park include Tesco Extra, Marks & Spencer and Boots. The landlord was advised by Morgan Williams and BWD Retail. CBRE represented New Look.
CRAWLEY
Standard Life has let a 10,000-sq ft store at County Oak Retail Park to Argos, the multi-channel retailer. Part of the Home Retail Group, Argos will be paying a rent of £34.50 per sq ft on a 15-year lease. Morgan Williams and Harvey Spack Field represented Standard Life.
Hanley
Virgin Media has acquired 217b, the Potteries shopping centre, totalling 1,733 sq ft, on a new 10-year lease. There is a tenant only option to break at year five and an initial base rent of £112,000 pax has been agreed. Williams Gunter Hardwick and GVA Grimley represented Virgin Media while the lessor, Capital Shopping Centres, was represented by Tushingham Moore.
HEMEL HEMPSTEAD
Hawkin’s Bazaar has acquired 210 Marlows, providing 1,283 sq ft of ground floor sales space with 498 sq ft of ancillary space on the first floor. A new 10-year lease has been agreed at £38,000 pax. Williams Gunter Hardwick represented Hawkin’s Bazaar. The landlord, Glidezone, was represented by Aitchison Raffety.
Milton Keynes
Hermes and PruPIM have leased Unit 46 (102 Silbury Arcade) in thecentre:mk, providing 187 sq ft, to FX Currency on a new 10-year lease. After a 10-month rent-free period, the commencing rent is £28,000 pa in year one, rising to £33,000 pa in year five. GCW was letting agent.
PRESTON
Virgin Media has acquired 100 Fishergate, providing 1,100 sq ft on ground floor with basement storage, on a new 10-year lease with a tenant-only option to break at the expiration of year five. The initial rent is £98,500 pax. Morgan Martin was letting agent and Williams Gunter Hardwick and GVA Grimley represented Virgin Media.
ROYSTON
Trevor Toys has let a shop at 40-42 High Street, Royston to Grabal Alok t/a Store 21. The affordable fashion brand has taken 6,200 sq ft on ground floor with ancillary accommodation on the first and second floors at a rent of £60,000 pa on a new 10-year lease. Kitchen La Frenais Morgan represented the landlord. Smith Price represented the tenant.
Tunbridge Wells
LXB Properties has let the 10,000-sq ft Unit 6, The Fountains Retail Park to Staples at £280,000 pa. And the 8,550-sq ft Unit 2 has been let to Halfords at £243,675 pa. Both were for 15-year terms. Wilkinson Williams and Camplin Bianco are letting agents. G Heath Property advised Staples and Colliers CRE Halfords.
Walsall
Unit 16, Crown Wharf Shopping Park, totalling 4,000 sq ft, has been leased by British Land’s Hercules Unit Trust to Frankie & Benny’s on a new 25-year lease at £115,000 pa or £28.75 per sq ft. Wilkinson Williams and Jackson Criss are letting agents while Wareing & Partners advised the tenant.
