May deals
Published: 09 June, 2011
A selection of lettings notified to Shopping Centre during May. To provide deals information contact graham.parker@jldmedia.com
AYLESBURY
Aviva Investors has let a retail unit on its mixed use scheme at Aylesbury Shopping Park in Aylesbury to Hobbycraft. The retailer has taken a 10,000-sq ft unit, formerly occupied by Allied Carpets whoich vacated in March 2011, and will pay a rent of £25.00 per sq ft after signing a new 15-year lease. Other occupiers on the 170,000-sq ft retail park include, Homestore & More, Argos, Sports Direct, Carphone Warehouse and Frankie & Bennys. Aviva Investors was represented by Edgerley Simpson Howe. Hobbycraft was unrepresented.
BIRMINGHAM
Jack Wills, the collegiate-style fashion retailer, has opened a new store at Unit 1, New Street at Cosgrave Property Group’s Caxtongate fashion and lifestyle centre. It has taken a 10-year lease on the corner unit store at New Street and Cannon Street. The new store is adjacent to Monsoon and H&M and comprises 2,063 sq ft of sales at ground floor with an additional 2,772 sq ft of space at basement level. The rent is £250,000 pa. Joint letting agents CBRE and DTZ act on behalf of Cosgave at Caxtongate. Savills represented Jack Wills
CREWE
UBS Global Asset Management has pre-let space at Grand Junction Retail Park in Crewe to City Centre Restaurants trading as Frankie & Benni. Tthe restaurant operator has agreed a new 25-year lease at a rent of £25 per sq ft on a new unit which will total 4,500 sq ft once built. UBS Global Asset Management was represented by Savills and CCR was represented by Wareing & Partners.
DUDLEY
Warren James Jewellers has taken 1,195 sq ft at Westfield Merry Hill on a new 10-year lease at £110,000 pax with a nine-month rent free period. Jones Lang LaSalle was letting agent and Brasier Freeth represented the tenant.
FARNBOROUGH
Dreams, one of the UK’s largest bed retailers, has taken 7,625 sq ft of space at the Solartron Retail Park on a 15-year lease at a rent of £42 per sq ft. Dreams replaces Allied Carpets.
HAMMERSMITH
German sandwich chain Bake & Take is to open its first UK store in The Broadway Shopping Centre after signing a deal with William Ewart Properties. Bake & Take will open a 710-sq ft store in unit 29 at £101,500 pa. William Ewart Properties was represented by Kitchen La Frenais Morgan while Bake &Take was not represented.
HASTINGS
Aberdeen Asset Management has let space at its retail warehouse holding on Bexhill Road in Hastings to Instore Plc. The retailer, trading as Poundstretcher, has agreed a new 10-year lease on a store totalling 6,600 sq ft created from downsizing the 13,754-sq ft Carpetright unit. Poundstretcher will pay an annual rent of £132,000, equating to £20.00 psf. Aberdeen Asset Management was represented by Savills, and Poundstretcher was advised by APB Commercial.
HEMEL HEMPSTEAD
Aberdeen Asset Management has signed Anytime Fitness, a new entrant to the UK gym market, at its Riverside Shopping Centre. Anytime Fitness operates over 1300 clubs in the USA, Canada, Australia and New Zealand and it has entered into a 15-year lease for a 6,600- sq ft unit at a rent of £65,000 pa. Aberdeen Asset Management was advised by HNG.
HOVE
SWIP Property Trust has let a retail warehouse property on its Goldstone Retail Park to Pets at Home. The retailer has taken an 8,000-sq ft store - part of a unit formerly occupied by Comet which downsized to a unit of 11,000 sq ft, now paying a rent of £35.00 per sq ft. Pets at Home will pay a rent of £37.50 per sq ft on a new 10-year lease. SWIP Property Trust was advised by Edgerley Simpson Howe. Curson Sowerby advised Pets at Home.
KINGS LYNN
UBS Asset Management has let space at Hardwick Retail Park in Kings Lynn to Anglia Regional Cooperative Society. Trading as AHF Home Furnishings, the retailer has agreed a new 15-year lease on a store totalling 10,000 sq ft and will pay a rent of £21 per sq ft UBS Asset Management was represented by Savills. Anglia Regional Cooperative Society was advised by Nicholas Robinson & Partners.
LEEDS
Four new retailers are to open in Leeds’ Victoria Quarter maintaining 100 per cent occupancy. Wolford has struck a deal for the 700-sq ft unit at 42 Queen Victoria Street at £49,000 pa, while Kiehl’s has taken 1,000 sq ft at 24 Queen Victoria Street at £69,000 pa. At 100 Briggate/1 County Arcade, L’Occitane will pay £120,000 pa 2,500-sq ft store and Kuoni will move in to the 1,500-sq ft Unit at 3 King Edward Street, paying an annual rent of £91,000. All stores have been leased for 10 years. King Sturge advised Victoria Quarter’s landlord, Bank of Ireland Private Banking, on all the deals.
PRESTON
Hawkin’s Bazaar has acquired 1,722 sq ft on ground floor with first floor ancillary by way of a new five-year lease. The initial rent is £45,000 pax. Williams Gunter Hardwick represented Hawkin’s Bazaar and the lessor, Agora Shopping Centres, was represented by Keenan & Co
SOUTHPORT
UBS, rhas let space at Meols Cop Retail Park in Southport to TJ Morris. Trading as Home Bargains, the value retailer will occupy a store totalling 17,068 sq ft on a new 15-year lease at an annual rent of £230,000. UBS was represented by Savills. TJ Morris was advised by Bennetts.
SOUTHPORT
Legal & General Property, on behalf of the Linked Life Fund, has let 1,500 sq ft at Central Twelve Shopping Park to coffee chain, Costa, on a new 10-year lease at a rent of £31.50 per sq ft.
WALTHAM ABBEY
At Highbridge Retail Park, Harveys lease has been surrendered and TJ Morris, trading as Home Bargains, has taken the 10,041-sq ft unit on a new 15-year lease at a rent of £22 per sq ft.
