Having regeared Unit 1 for an additional 10 year term, ESH also advised AXA REIM on their disposal of Cross Hands Retail Park, Carmarthenshire.  The park is let to Farmfoods, Topps Tiles and Flooring Republic for a weighted average of 7.5 years unexpired, including breaks.  The freehold was sold to a private investor.

Standard Life Investments, advised by ESH, have exchanged contracts with Aldi to occupy an amalgamated and refurbished anchor store at Hollywood Park alongside TK Maxx, Currys PC World and Dunelm.  Aldi have agreed to take a new 20,060 sq ft unit on a new 20 year lease later this year once construction works have been finalised.

The Wigley Group, advised by ESH, has sold its freehold interest in Vantage Trade Park in Coventry to Schroders’ Multi-Let Industrial Property Unit Trust (MLIPUT) for £5.07 million, reflecting a NIY of 5.4%.

The Park, which comprises a terrace of four units totalling 25,000 sq ft, was developed by The Wigley Group in 2015 and represents the best quality trade park in the city.  The property is let to Magnet, Formula One Autocentres and Adrenaline Motorcycles and produces a total rent of £291,262 per annum, reflecting a blended rent of £11.65 per sq ft. The investment offered a weighted average unexpired lease term of just over 13 years to expiry and over 8 years to break.

Standard Life Investments, advised by ESH, have sold the long leasehold interest in this major edge of town leisure and retail investment to a Threadneedle Investment Fund. It provides the only cinema and bowling alley in Southport with other occupiers including Dunelm, Matalan, Pets at Home, Poundstretcher, DW Sports and a number of restaurants such as McDonalds, Pizza Hut, Nando’s, GBK, Frankie & Bennys and Chiquitos.

Standard Life Investments, advised by ESH, have completed the sale of a former Homebase site on Church Way to the largest independent car dealership group in Europe, Arnold Clark.  The new owners plan to modernise and remodel the unit to accommodate a new car dealership for occupation in late 2018.

Barker & Stonehouse, the UK’s largest independent, family-run furniture retailer, has acquired two sites in Hove and Guildford as it looks to expand its representation south of the Thames.

At Old Shoreham Road, Hove, Barker & Stonehouse has acquired a former Currys unit. Comprising 20,000 sq ft of ground floor sales with planning secured for a 15,715 sq ft trading mezzanine, the property will be refurbished and totally reclad with extensive glazing.  It is due to open prior to Easter 2017.

Barker & Stonehouse has secured an assignment of the Currys lease and then has extended its lease to create a 15 year term with the landlords, who are a property fund managed by CBRE Global Investors. The new rent is £520,052 pa.

Advised by its retained property agent Edgerley Simpson Howe (ESH), the retailer has purchased a 1.4 acre site at Ladymead, Guildford, on a long leasehold basis from Surrey County Council. This site is at the gateway to Guildford, being at the junction to the A3 and Ladymead.

Planning has been secured for a 24,000 sq ft ground floor unit with 16,000 sq ft trading space on first floor level. This new store will be highly designed and strikingly modern with extensive glazing and a “living green” wall.

Barker & Stonehouse has currently eight stores across the north of England, a showroom in London’s Battersea and two outlets in York and Middlesbrough.

ESH is retained by Barker & Stonehouse on these and future acquisitions. Vail Williams advised Surrey County Council.