Lettings
Published: 23 September, 2010
Thgis month's market moves
DEWSBURY
Poundland has taken a new ten-year lease on 17-21 Princess of Wales Precinct from Ravenhill Estates. The commencing rent was £100,000 pa and the property provides 3,351 sq ft of ground floor sales space and 2,175 sq ft of first floor stock/staff space. Poundland was represented by Jones Retail and Ravenhill Estates was represented by DTZ.
Ebbw Vale
Unit 2 The Walk has been taken on a new three-year lease by Ellie Louise Trading at £22,250 pa. The unit comprises 2,900 sq ft at ground floor level and a 1,018-sq ft first floor. The landlord, Ess Gee Investments, was represented by Legat Owen.
Edinburgh
Virgin Media has taken a 1,269-sq ft store on a new ten-year lease, with tenant only break after year five, at a rental of £80,000 pa. Cushman & Wakefield and Jones Lang LaSalle represented the landlord, William Ewart Properties, and William Gunter Hardwick advised Virgin Media.
Greenock
Ardgowan Hospice has opened a 1,310-sq ft store at Unit 15, Hamilton Way in the Oak Mall Shopping Centre on a new three-year lease at a rental of £30,000 pa. Joint letting agents on behalf of the Murdoch Group were Cushman & Wakefield and Eric Young & Co.
Liverpool
British Land has leased 13,132 sq ft at Unit L3a, New Mersey Shopping Park to Smyths Toys on a new 15-year lease at £410,375 pa equating to £31.25 per sq ft. Wilkinson Williams was letting agent and Thompson Heaney represented the tenant.
NEWCASTLE
Poundland has taken a new ten-year lease in MSU B, Clayton Street, Newcastle upon Tyne, from CSC (Eldon Square). The commencing rent was £160,000 pa and the property provides 5,500 sq ft of sales space and 2,209 sq ft of welfare and storage space. Poundland was represented by Jones Retail and and CSC (Eldon Square) was represented by Lunson Mitchenall.
NEWPORT
Poundland has taken a new ten-year lease on units 20-22 the Kingsway Shopping Centre from landlord UBS Global Asset Management. The commencing rent under the lease was £100,000 pa and the property provides 5,822 sq ft of ground floor sales space and 3,540 sq ft of basement stock/staff space. Poundland was represented by Capital Retail and UBS was represented by Savills.
Reading
Dixons Retail - the renamed DSGi - has taken a 15-year lease on the 30,000-sq ft Unit 6, Reading Gate Retail Park at £855,000 pa or £28.00 per sq ft. The electricals retailer will trade as Currys and PC World Megastore Curson Sowerby and King Sturge were letting agents on behalf of the joint landlords Legal & General and NFU Mutual. Wilkinson Williams advised the tenant.
STOCKPORT
Virgin Media has acquired 1,004 sq ft on ground floor with additional first floor storage at 87 The Merseyway Centre on a new ten-yea lease, with a tenant-only option to break at the expiration of year five. The initial rent is £50,000 pax. Williams Gunter Hardwick and GVA Grimley represented Virgin Media while Savills was letting agent.
STRABANE
Poundland has taken a new ten-year lease on Units B & C, Strabane Retail Park from landlord Beechdale Properties. The commencing rent was £150,000 pa and the property provides 10,281 sq ft of sales space and 2,100 sq ft of staff/stock space. Poundland was represented by TDK Property and Beechdale Properties was represented by Mckibbin Commercial Property Consultants.
Wednesfield
Axa Sun Life has leased Unit C3b on the Bentley Bridge Retail Park, totalling 5,390 sq ft, to JD Sports on a new ten-year lease at £106,237 pa equating to £19.71 per sq ft. Colliers International and Morgan Williams were letting agents while Wilkinson Williams advised the tenant.
