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November 2020

Aberdeen standard investments agree new lettings in Milton Keynes

Aberdeen Standard Investments agree new lettings in Milton Keynes.

Aberdeen Standard Investments have completed two new lettings at Winterhill Retail Park, Milton Keynes.

Following the corporate restructuring by Harveys/ Bensons for Beds last year, the furniture retailer has relocated within the scheme to occupy the former Paul Simon unit, adjoining Dunelm, which extends to approx. 6,800 sq ft. Bensons for Beds will occupy the premises on a new 10 year lease.

At the same time, AHF agreed to take the existing Harveys unit extending to 13,500 sq ft on a new 10 year lease. The unit, when open will be traded under the Fabb Furniture banner. Milton Keynes will be the retailer’s 17th store in all—including the Nasons of Canterbury branch it picked up in 2018—with it having also lined up an 18th, at Fosse Park, Leicester which is due to open in spring 2021.

The Winterhill scheme is home to the majority of nationally-operating furniture and floorcoverings retailers.

Edgerley Simpson Howe act on behalf of the Landlord, Aberdeen Standard Investments.

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November 2020

ESH complete duo of Poundland lettings

ESH complete duo of Poundland lettings.

ESH have successfully completed two new lettings to the discount retailer Poundland. The new lettings at St Augustin Retail Park, Grantham and The Broad Centre, Sutton in Ashfield will be opened along with four other stores as part of the retailers ‘Super Saturday’ opening day prior to Christmas.

At Augustin Retail Park, Grantham, Poundland will occupy a unit of 8,285 sq ft alongside other occupiers including Sports Direct, Iceland, Next and Pets at Home. The scheme remains fully let. ESH represents the Landlord Aberdeen Standard Investments.

At The Broad Centre, Sutton in Ashfield, Poundland will occupy the former Poundstretcher unit which extends to c.8,000 sq ft. Other tenants include Lidl, Matalan, Pets at Home and Anytime Fitness. ESH represents the Landlord Orchard Street Investment Management.

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October 2020

The food warehouse expands portfolio with Weymouth acquisition

The Food Warehouse expands portfolio with Weymouth acquisition.

The Food Warehouse, run by retail giants Iceland, will open at the former Aldi at Jubilee Retail Park in January 2021.

Edgerley Simpson Howe, acting on behalf of the Landlord Aberdeen Standard Investments successfully agreed a surrender with Aldi, who occupied the c.12,000 sq ft premises on a long leasehold agreement and agreed a new letting to The Food Warehouse on a 10 year lease. The Food Warehouse will commence fitting out in December with the store set to open to customers in January 2021.

The Food Warehouse joins occupiers Matalan, Curry’s PC World, Pets at Home and Carpetright.

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October 2020

M7 continue retail warehouse acquisition drive with IPSWICH purchase

M7 continue Retail Warehouse acquisition drive with Ipswich purchase. 

M7 have successfully completed the purchase of a solus B&M on Felixstowe Road, Ipswich from BMO.

The unit which is occupied by the FTSE 100 retailer extends to approx. 39,000 sq ft is let off a manageable rent of £12.99 per sq ft and benefits from a WAULT of 10 years. M7 purchased the asset for £6.0m, showing a net initial yield of 7.90%.

Edgerley Simpson Howe represented M7.

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September 2020

ESH advise Pure gym on three new south east lettings

ESH advise Pure Gym on three new south east lettings.

Pure Gym are to open 3 new gyms in the south east, continuing with their expansion. These new gyms are in Reading Calcot within the Sainsburys store; Westgate Retail Park in Aldershot and The Mall Shopping Centre in Maidstone.

ESH acted on behalf of Pure Gym on all acquisitions.

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August 2020

Private buyer for Waitrose in Stamford

Private buyer for Waitrose in Stamford.

The freehold let to Waitrose in Stamford, Lincolnshire has changed hands as another example of the popularity of foodstore investments in the current market. Terms were agreed during the early 2020 lockdown period with competing bids presented to the private owner advised by JLL. The store of around 27,800sqft is let to Waitrose until November 2029 at £430,000pa and the price of just over £7,000,000 reflected an initial return of approx 5.7%. The purchaser, a private Estate, was represented by Edgerley Simpson Howe.

 

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