For the second year running Edgerley Simpson Howe entered an elite 4 man team into the Property Velodrome Cycle Challenge at Herne Hill in aid of International Childcare Trust. Having finished 2^nd last year a team consisting of Jamie Naughton, Dan Howie, Dominic Russell (Aberdeen Asset Management) and Jonathan Gibbon (Aberdeen Asset Management) was assembled to bring home the trophy.

The events this year consisted of an Australian Pursuit, Team Pursuit, Points Race and Scratch Race. Jamie set about obliterating the rest of the field in the Australian Pursuit to win maximum points. A great start which unfortunately could not be repeated in the Team Pursuit finishing just outside of the points after a bold lead out by Jonathan and blistering second leg from Dominic. The third race saw Dan take maximum points in an enduring battle of 5 sprint finishes which left him so exhausted he was lifted from his bike by his team mates. The final event was the Scratch Race where Jamie again managed to notch up a few more points with a 4^th place finish, having started half a lap down following a confused start.

Unfortunately the final tally of 15 points was not quite enough to beat LSH who won with 18 points resulting in second place for ESH.

More importantly a total of £8,000 was raised for International Childcare Trust (ICT) making the event a great success.  For more information on the ICT please click on the following link…..

http://www.ict-uk.org/

GE Pension Fund, advised by Cordatus Partners and Edgerley Simpson Howe, have disposed of the Aldi and Home Bargains in Carmarthen to Palmer Capital for £3.95 million. The capital value reflects a net initial yield of 7.03%.

The property comprises 26,169 sq ft let to Aldi for a further 8 years and Home Bargains for a further 10 years. The rents reflect £9.20 – £12.33 per sq ft. Aldi has a minimum uplift in 2014 which takes the yield to 7.5%.

Aldi has a food/bulky goods planning consent. Home Bargains has an open A1 non-food planning consent.

Palmer Capital were advised by Andrew Thomas and GVA Grimley.

For further information please contact Michael Radcliffe.

Orchard Street Investment Management, represented by Edgerley Simpson Howe, has let a 15,264 sq ft retail warehouse at Glamorgan Vale Retail Park to the north west of Cardiff to DFS.

The furniture retailer will pay £23.50 per sq ft on a new 15-year lease for the former JJB Sports store.

The 115,000 sq ft Glamorgan Vale Retail Park is let to retailers including Matalan, Asda Living, Peacocks, Brantano and Pets At Home.

Harvey Spack Field advised DFS.

The Trustees of the BlackRock UK Property Fund, advised by Edgerley Simpson Howe, have secured planning consent to let a store to Marks & Spencer Simply Food at Castlefields Retail Park in Wellingborough.

The retailer will open a 10,106 sq ft store in a former Allied Carpets unit on the retail park after being granted planning for food sales on the site earlier this month.

M&S Simply Food has taken a 15 year lease with a stepped rent over the first five years averaging £19.40 per sq ft.  Work will begin shortly on the preparation of the unit allowing M&S to take possession in January next year and open during the Spring.

The prime scheme also includes retailers such as B&Q, Dunelm, Pets At Home and Dreams.

ESH advised BlackRock.  M&S were advised by CBRE.

Prudential Property Investment Managers (PRUPIM), advised by Edgerley Simpson Howe, has let a retail warehouse unit on its Wessex Gate retail park in Poole to The Lounge Sofa Company.

The furniture retailer has taken a 9,225 sq ft store on a new 15-year lease, with a tenant’s break at the end of the tenth year, and will pay a rent of £29 per sq ft .

The 142,000 sq ft Wessex Gate scheme is the prime bulky goods retail park in Poole and is let to DFS, Furniture Village, Currys Megastore, Pets At Home and Harveys.

Curson Sowerby acted for The Lounge Sofa Company.

Royal London Asset Management, advised by Edgerley Simpson Howe, has let a newly created store at Century Retail Park in Watford to Pets at Home.

Pets at Home will take the 9,722 sq ft store, which was previously occupied by Comet, on a new lease expiring December 2024 at a rent of £33.00 per sq ft.

Comet have agreed to downsize their existing store to make room for Pets At Home who open in March next year.  Comet will remain trading throughout the process and have a lease also expiring in 2024 on a unit of 9,903 sq ft.

Other retailers on the scheme include Toys R Us, Hobbycraft, Halfords, Currys and Furniture Village.

Edgerley Simpson Howe acted for Royal London

Stephen Smart & Co acted for Comet

Curson Sowerby Partners advised Pets At Home.