ESH are pleased to have worked closely advising M7 Real Estate on the acquisition of two retail warehouse assets; Greyfriars Retail Park, Stafford and Sandy Lane Retail Park, Worksop.

Greyfriars Retail Park in Stafford provides a weighted average income length of over 8 years (no breaks) with Dunelm having recently committed to a new 10 year term. Dunelm, Farmfoods and Dreams occupy a total of 40,480 sq ft off an average rent of less than £10 per sq ft.

Worksop is let to well recognised national covenants of DSG, Anytime Fitness, Pets at Home and B&Q and offers performance in the way of fixed uplifts. Current passing rents are c.£12.50 per sq ft and the linear terrace provides flexible accommodation. The WAULT is c.7 years to breaks and planning is open A1 non-food with a D2 use.

The combined price paid for the two assets was £12.37 million.

Circle Property Plc, advised by ESH, have
disposed of Baildon Bridge Retail Park in Shipley, West Yorkshire. The scheme
is let to B&M, Topps Tiles & Sue Ryder across 37,175 sq ft at a total
annual rent roll of £382,002. The WAULT at the time of sale was approximately
6.5 years to breaks. The price achieved was £4.6 million, reflecting a net
initial yield of 7.79%.

Superdrug have taken a 10 year lease on unit 9 at Banbury Gateway Shopping Park. The unit comprises of 6,000 sq ft.

Superdrug join M&S, Primark, Next, Fat Face and others
on the scheme which is located just off Junction 11 of the M40.

Nicole Campbell, Asset Manager for Banbury Gateway, said she is delighted to be able to welcome Superdrug to the shopping park. “Here at Banbury Gateway, fashion and beauty is
a huge attraction for us with Primark, M&S and Next, so Superdrug will be a welcome addition for our shoppers.

“We look forward to welcoming Superdrug to Banbury Gateway on Friday 22 March and we wish the team the best of luck with the opening.”
Mason and Partners advised Superdrug. ESH and Avison Young advise The Crown Estate.

Barker & Stonehouse Sale and Leaseback

On behalf of Barker & Stonehouse, ESH have sold a sale
and leaseback opportunity to a private investor. The retailer has signed a 10
year lease on its Outlet unit in Marsh Street, Middlesbrough.

Aberdeen Standard Investments
Sells Foodstore and district centre in Altrincham

Aberdeen Standards Investments has
sold the freehold interest of the Waitrose & Partners foodstore, Altrincham
to a Council purchaser for £11.65m, reflecting a NIY of 5.15%. The property on
Draybank Road in Broadheath extends over 39,000 sq. ft. GIA and also features
six self-contained shop units let to a variety of occupiers.

ESH acted for Aberdeen
Standard Investment and ADSRE acted for the purchaser.

Travis Perkins Properties Ltd dispose of Farnborough holding.

Travis Perkins Properties Limited have sold their long leasehold interest site occupied by Dunelm and Wickes on Invincible Road, Farnborough.

Since their acquisition of the site in early 2015, Travis Perkins Properties Limited have totally refurbished the scheme. Wickes have downsized from their previous occupation and the
surplus of approximately 19,000 sq ft has been let to Dunelm (Soft Furnishings) Limited on a 10 year lease, with circa 8.5 years remaining at the time of sale.
The other unit is let to Travis Perkins’ owned business, Wickes Building Supplies Limited, who have re-committed to the location on a new 20 year lease from the date of sale with a tenant break at year 10.

The asset was sold to clients of Hurst Warne for a price of £11.00 million, reflecting a net initial yield of 5.5%.

ESH advised Travis Perkins Properties Limited on the sale