Trespass on the acquisition trail
Published: 01 September, 2010
The Glasgow-based retailer is looking to expand nationwide
Outdoor and leisure clothing specialist Trespass has opened a new store in Dorchester in the first of a wave of new openings planned as part of its expansion strategy.
Trespass plans to open 100 new stores in the next two years and is currently in detailed negotiations with landlords for nine further retail outlets.
The Dorset retail unit is Trespass’ first high street store in the South West. Located at 1b South Street in the prime shopping area of Dorchester, the store was formerly occupied by Adams Childrenswear before it went into administration.
Trespass has taken a new 10-year lease on the unit, which comprises 1,572 sq ft on the ground floor and 675 sq ft on the first, totalling 2,247 sq ft. It will be paying landlord Greatvine (represented by agents Cushman & Wakefield and Bartle Pye) a commencing rent of £65,000 pa with six months rent free. The lease is subject to a rent review at the fifth year and a tenant’s only break clause.
Within the south west of England, Trespass has an outlet store at Clarks Village in Street, Somerset, but Dorchester is its first high street unit in the region. The nearest stores otherwise are in Portsmouth and Fareham (both Hampshire) and on the Isle of Wight.
Tom Keys-Toyer, retail partner at King Sturge, which is the retained property agent for Trespass, says the deal was secured against strong competition from another retailer.
He adds: “Dorchester is a relatively affluent town that has stood up well to the economic downturn and there’s not a lot of supply of retail space. For Trespass, it provides the broad multi-generational customer base that it seeks for its good value outdoor clothing for the whole family, as well as its back-to-school range.
“This is the first of many more new Trespass stores in a carefully planned and selective expansion strategy that will see the retailer diversify further from its traditional heartland of Scotland and the north. We are in detailed negotiations with another nine landlords in locations such as Torquay, Leamington Spa and Worcester.”
Trespass, which was established in 1984 by Glasgow-based parent company Jacobs & Turner, has a total of 73 stores in the UK (including Dorchester) and a further 20 concessions. Globally, it has 90 stand alone stores and 35 concessions. Jacobs & Turner manufactures all its stock and it has no debt.
An optimum unit size of 1,500 sq ft of ground floor sales with circa 300 sq ft of back-up space in high street locations is being sought by Trespass for its new wave of store openings. It is ideally seeking to negotiate base rent and turnover lease deals to capitalise on its strong covenant.
