October 2011
Orchard St. achieves success at Glamorgan Vale
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.
October 2011
M&S Simply Food to open at Castlefields RP
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.
October 2011
Prupim lets retail warehouse at Wessex Gate
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.
October 2011
Pets at Home take unit at Century RP,Watford
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.
August 2011
ING lets warehouse to Pure Gym in Stoke
ING has let a 22,250 sq ft retail warehouse unit is Stoke-on-Trent to a 24-hour gym chain Pure Gym.
The company has taken the unit, on Etruria Way, for 15 years at a rent of £8.50 per sq ft.
Edgerley Simpson Howe advised ING, Pure Gym were not represented.
July 2011
ISIS seals Bury deal
F&C REIT has advised ISIS Property Trust on the purchase of three retail warehouses totalling 35,000 sq ft at Hope Mill retail park in Bury from Peveril Securities for just over £7m – reflecting a 6.95% yield. D2 Private and Edgerley Simpson Howe acted for F&C REIT. Savills advised Peveril Securities.