Hercules lifts ten new brands
Published: 01 March, 2011
The Hercules Unit Trust has agreed ten retail warehouse lettings at Inverness and Rotherham
Hercules Unit Trust, the British Land-managed retail warehouse fund, has let over 180,000 sq ft in ten separate deals to revitalize its schemes in Rotherham and Inverness.
At its flagship Parkgate site in Rotherham, rivalry among electricals brands has sparked off a surge in activity with British Land letting 146,500 sq ft across five deals. Best Buy took a 47,000-sq ft unit and Dixons retaliated with a 53,000-sq ft Currys Megastore while Maplin took 5,000 sq ft. At the same time Asda Living took 38,000 sq ft and Frankie & Benny’s 3,500 sq ft.
British Land Asset Manager for Parkgate, Simon Meacock, said: “A combination of diverse retail brands, in addition to a popular catering offer, creates variety and a positive experience for shoppers at Parkgate. We are excited to have achieved these five key lettings.”
Harvey Spack Field, Morgan Williams and Wilkinson Williams acted on behalf of HUT across the five deals. Curson Sowerby represented Best Buy, Robert Bebington & Co acted for Maplin and Reis Short advised Frankie & Bennys.
At the same time five new brands are to open at HUT’s Inverness Shopping Park taking a total of 39,755 sq ft.
New Look has opened a 12,000-sq ft flagship store, JD /Bank is opening a new 8,470-sq ft store, Carphone Warehouse has opened a 2,500-sq ft store, and Costa has moved into a 1,500-sq ft unit. In addition, Comet has reconfigured its unit to create a 15,285-sq ft store.
Wilkinson Williams and Montagu Evans acted on behalf of Inverness Shopping Park. Briant Champion Long represented Carphone Warehouse and Savills acted on behalf of Costa. Wright Buchanan represented Comet and CBRE acted for New Look.
