October 2015
Aberdeen Asset Management Purchase DFS in Enfield
Aberdeen Asset Management, on behalf of its clients, has purchased a DFS retail warehouse unit in Enfield from LondonMetric for £24.48m at a yield of 6.73%.
The freehold property, which is situated on the A10 (Great Cambridge Road), consists of a retail warehouse unit of 23,165 sq ft, a distribution unit of 9,279 sq ft and 81 car-parking spaces and is let on one occupational lease until 23 March 2030. Aberdeen Asset Management owns the two retail warehouse units adjoining the asset, which have recently been refurbished and let to Sofaworks and Furniture Village. Aberdeen was advised by ESH on both the lettings of the existing holding and the purchase of the DFS freehold.
September 2015
LondonMetric sells freehold interest in Milton Keynes
London Metric, advised by ESH, sold their freehold interest in Westcroft Retail Park, Milton Keynes for £27.2million.
The park comprises of 75,620 sq ft of open A1 retail space in a single terrace and is situated immediately adjacent to Westcroft District Centre, which includes a 95,000 sq ft Morrisons. The retail park is occupied by Aldi, Boots, Jollyes, Poundstretcher, Poundland, B&M, McDonalds, Pizza Hut and KFC with rents ranging between £20 per sq ft and £28 per sq ft. The scheme offers a WAULT of almost 9 years
September 2015
ESH advises BMO on purchase of Parkgate Shopping Park
BMO Real Estate Partners, with occupational advice from ESH, have completed the purchase of the 560,000 sq. ft. Parkgate Shopping Park in South Yorkshire from British Land.
The scheme is the fourth largest shopping park in the UK with over 40 retailers and restaurants and is shortly to welcome the opening of one of the largest out of town H&M stores in Britain. ESH have been retained by the landlord on future lettings and asset management
August 2015
New lettings at Meadowhall Retail Park, Sheffield
Standard Life, advised by ESH, have secured B&M for a relocation to a larger store and regeared Currys to enable them to open a new 3-in-1 format store, incorporating their Carphone Warehouse and PC World fascias.
B&M have relocated into the 25,556 sq. ft. former PC World unit at a market rent and on a new 10 year lease. Currys have also committed to the scheme for another 10 years. The former B&M unit of 10,000 sq. ft. is now under offer to a national retailer
August 2015
Standard Life disposes of the freehold interest in Hull for £2.16m
Standard Life, advised by ESH, have disposed of the freehold interest in Stoneferry Retail Park, Hull for £2,160,000 million reflecting a net initial yield of 10% to AEW.
The park, comprising 17,655 sq ft, is let to DSG Retail, Bensons Beds and Burger King with lease expires in 2019 on the retail units and 2029 on the Burger King. DSG Retail have sublet their unit to Wren Kitchens.
The total current rent is £228,591 per annum, equating to £11.01 and £10.80 psf on the retail, and £24.59 psf on the Burger King.
The park benefits from a ‘wide’ bulky goods and A3 planning consent.
AEW were advised by Fawley Watson Booth
July 2015
Petros has let one of the final remaining units at its Threemilestone Retail Park in Truro, Cornwall.
National Sports and Fitness chain DW Sports has signed a 10-year lease for a 10,000 sq. ft. store, its first in the county.
Threemilestone is one of the largest out-of-town retail parks in Cornwall at 112,500 sq. ft. with existing occupiers such as Matalan, and Home Bargains on the park. Just 10,000 sq. ft. of space remains available as the centre nears full occupancy.
DW Sports and Fitness was established in 2009 by former JJB owner Dave Whelan and now operates 74 health and fitness centres and 73 retail stores nationwide. It employs more than 2,600 staff.
ESH advised Petros and Westmark Estates represented DW Sports.
