January 2011 lettings
Published: 31 January, 2011
A summary of the deals notified to Shopping Centre during the past month. To submit deals email graham.parker@jldmedia.com
Bristol
Iceland Foods has renewed its lease on Units 20/ 21, Broadwalk Shopping Centre, Knowle, providing 4,100 sq ft of retail space with 1,950 sq ft of ancillary space. An initial rent of £75,000 pa has been agreed for a 10-year lease. DTZ acted for the landlord and Mason & Partners for the tenant.
Coatbridge
Arcadia (trading as Outfit) has taken the 11,030-sq ft Unit 14, Faraday Retail Park on a 10-year lease on a turnover based rent. Mothercare has taken the 9,525-sq ft Unit 15 on a 10-year lease at £190,500 pa equating to £20.00 per sq ft. And Dixons Retail has taken The 14,050-sq ft Unit 17, again on a 10-year lease at £281,000 pa equating to £20.00 per sq ft. Landlord Legal & General was represented by Wilkinson Williams, Colliers International and Appleton Craig. Eric Young & Co advise Arcadia, Harvey Spack Field Mothercare and Montagu Evans Dixons.
Ellesmere Port
Frogmore has leased 479 sq ft at 47 Marina Drive, The Port Arcades, to The Fish & Chip Shop on a five-year lease. The rent for the first two years is £5,000pa after three months rent-free, rising to £7,000 pa for the following three years. Tushingham Moore and Richard Lucas Property Consultants are letting agents.
Erith
Frogmore has leased the 720-sq ft ground floor Unit 8, Riverside Shopping Centre to Instant Cash Loans t/a The Money Shop on a 10-year lease at £15,000 pax subject to a tenant-only break option ato break on the fifth anniversary. Capital Retail and Reid Rose Gregory acted for the landlord.
Greenock
Oak Mall (Greenock) has let Unit 14a & 14b, Hamilton Way, Oak Mall Shopping Centre to Poundworld. The unit comprises 5,528 sq ft of ground floor sales space with 2,116 sq ft of storage space on the first floor and has been let for 10 years at a rental of £130,000 pa. Poundworld was represented by Francis & Company. Eric Young & Co and Cushman & Wakefield are lettting agents.
Liverpool
Frogmore has let 4,586 sq ft at its Belle Vale shopping centre to Life & Style Retail on a 10-year lease. The rent rises over the first five years to £70,000 pa. And Cool Trader has taken 3,500 sq ft also on a 10-year lease at £20,000 pa. Legat Owen and Tushingham Moore are letting agents.
Livingston
High street footwear retailer Schuh has agreed a 10-year lease on a 5,250sq ft unit at The Centre at a commencing rent of £75,000 pa. Andrew Rahamim, leasing co-ordinator, at landlord Land Securities, said: "This vibrant and exciting brand is a tremendous addition to our fashion offer at Livingston. The Centre has a superb offering - footwear, fashion, restaurants and much more all under one roof - and Schuh strengthens this further".
Maynooth, Co Kildare
Tesco (Ireland), advised by Morgan Williams and DTZ Sherry Fitzgerald, has let a 10,000-sq ft store at its Carton Retail Park to Boots. Boots has signed a 15-year lease for the store with a tenant-only break optopm at year ten on a rent of £200,000 pa. The retailer now has 57 stores in Ireland. HWBC represented Boots.
Shoreham
Hampshire Pension Fund, advised by CBRE Investors, has leased the 36,417-sq ft former Homebase store on Upper Shoreham Road to Next at £1.3m pa, equating to £35.70 per sq ft. Wilkinson Williams was letting agent.
Telford
Aberdeen Asset Management has leased the 8,719-sq ft Unit 11b, Telford Bridge Retail Park, to Next Home on a new 10-year lease at £193,213 pa, equating to £22.16 per sq ft. Wilkinson Williams and Morgan Williams were letting agents.
