Alhambra Centre fully let
Published: 05 January, 2012
F&C REIT Asset Management has achieved 100 per cent occupancy in Barnsley
F&C REIT Asset Management has agreed a deal to let two retail units at The Alhambra Centre in Barnsley to Next, bringing the shopping centre to full occupancy for the first time since it was purchased in September.
Next has doubled the size of its existing store by extending into two adjacent units, more than doubling its representation from 4,585 sq ft to 11,590 sq ft. The fashion retailer took a 10-year lease on the unit sat £175,000 pa.
To facilitate the deal, F&C REIT relocated Shoe Zone, which was previously located adjacent to Next, to a unit directly opposite where the tenant has opened outlets for both Shoe Zone and Stead & Simpson on a new 10-year lease at £65,000 pa.
Joanne Wilkes, head of in town retail at F&C REIT said: “We are delighted that we have reached full occupancy so shortly after acquiring The Alhambra Centre, while maintaining a high-quality level of tenant. With a number of schemes struggling to reach full occupancy in a challenging economic environment, it is a testament to the quality of the centre that it is fully let.”
Interncionale has also recently committed to The Alhambra Centre – which was purchased by clients of F&C REIT as part of a £108m shopping centre club deal – taking a 4,844-sq ft unit on a new 10-year lease at £85,000 pa.
Fawley Watson Booth advised F&C REIT.
