British Land’s former focus stores reoccupied
Published: 23 September, 2011
Two of British Land’s former Focus units, with a total area of 48,500 sq ft, have been reoccupied by Asda and B&Q.
All five previous Focus stores in the company’s portfolio are all now either income producing or under offer.
Asda has taken a 23,000 sq ft store at Woking’s Lion Retail Park and B&Q will occupy a standalone 25,500 sq ft unit in Malvern owned by Hercules Unit Trust.
Both are due to open in the autumn. The addition of Asda to Lion Retail Park will further increase the diversity of the tenant mix, which has previously focused on large goods brands including Carpetright, Currys and Halfords. B&Q is a new addition to Malvern and will benefit from a prime location.
Charles Maudsley, head of retail at British Land, said: “We only had a relatively small exposure to Focus and the fact that all of the units are either income producing or under offer, at similar or higher rents, is a reflection of the prime nature of our portfolio and that there is still healthy retailer demand for the right quality of space.”
Harvey Spack Field acted on behalf of British Land, and Cushman & Wakefield for B&Q. Asda was unrepresented.
