Metric sign Lidl and Carpetright
Published: 16 November, 2010
Metric Property Investments has exchanged contracts with Carpetright on an 8,500 sq ft unit at its Airport Retail Park, Coventry. The company has also been granted planning permission for the construction of a 14,000 sq ft Lidl food store at Damolly Retail Park, Newry.
Carpetright has taken the last remaining vacant unit at the retail park on a 10 year lease at a rent of £17.50 per sq ft.
Lidl has signed a 15 year lease at a rent of £15.75 per sq ft with trading expected to commence in March 2011.
Andrew Jones, chief executive of Metric, said: “The letting to Lidl follows the recent arrival of Mothercare to the park, and is part of the active asset management programme set out at the time of acquisition.
“Both the Lidl and Carpetright deals underline the opportunities within the portfolio, our strong retailer relationships and the occupier appeal of our assets. As well as increasing the income generated from the assets, the arrival of both these national retailers will significantly improve the tenant mix and undoubtedly attract more customers to both parks.”
