February 2020
Farmfoods upsize in Warrington
Farmfoods upsize in Warrington
AEW Europe have completed an upsize of Farmfoods at School Brow Retail Park, Warrington.
Farmfoods will upsize from their existing 5,000 sq ft unit to 10,000 sq ft and have agreed to take a new 15 year lease.
ESH advised AEW Europe.
February 2020
Schroders secure trio of lettings at Norwich retail park
Schroders secure trio of lettings at Norwich retail park.
Schroders have successfully secured new lettings at Hall Road Retail Park to retailers Home Bargains and Food Warehouse. The deals also see Homebase, who currently trade from the scheme, right-sizing from 80,000 sq ft to a reconfigured 30,000 sq ft unit.
Home Bargains has taken 20,000 sq ft on a 15 year lease, whilst Food Warehouse has taken 15,000 sq ft on a 10 year lease. Both stores are expected to open by the end of the year.
The retailers will join existing tenants Aldi, Pets at Home, Aldis and Hughes.
ESH acted for Schroders.
February 2020
CBRE GLOBAL INVESTORS SELL B&M NEWCASTLE
CBRE Global Investors sell B&M Newcastle.
Following a letting to B&M in the unit formerly occupied by Homebase, CBRE Global Investors, advised by ESH have successfully completed the sale of the stand-alone asset in Kingston Park, Newcastle.
The Kingston Park area is a well established retail warehousing destination with retailers including M&S, Next, Matalan, TK Maxx, Sports Direct, and Curry’s PC World all represented.
The property which extends to approximately 34,500 sq ft was let at a rent of £9.87 per sq ft on a new 15 year lease from April 2019 and was purchased by a private investor for £4.40 million, reflecting a net initial yield of 7.25%.
February 2020
Aberdeen standard investments secure two new lettings in Colchester
Aberdeen Standard Investments secure two new lettings in Colchester.
Aberdeen Standard Investments, advised by ESH have completed two new lettings to Pure Gym and Subway at Colchester Retail Park. The tenants will occupy a sub-division of the unit formerly occupied by DW Sports and line-up alongside occupiers including Matalan, Poundland, Shoezone, Choice Discount Stores and Starbucks.
Pure Gym have taken a 15 year lease on the premises extending to approximately 10,400 sq ft and are expected to open to members in Spring 2020.
Subway have also taken a 15 year lease on a unit extending to approximately 1,200 sq ft.
February 2020
TOPPS TILES TAKE NEW LEASE IN BANBURY
Topps Tiles take new lease in Banbury.
Topps Tiles are set to open a new store at the two-unit Linkway scheme on Southam Road, Banbury, adjacent to Wickes.
The tiling specialist retailer has agreed a 10 year lease on a unit formerly occupied by Office Outlet and it will become of their largest stores to date extending to approximately 10,500 sq ft.
The letting will see Topps Tiles re-locate from their existing unit along Southam Road, adjacent to Dunelm.
ESH acted for the Landlord, Barings Real Estate.
February 2020
ESH represents institutional client on retail warehouse portfolio sale
ESH represents institutional client on retail warehouse portfolio sale.
An institutional client, advised by ESH, has successfully completed the sale of a retail warehouse portfolio. The price paid was a headline of approximately £190 million and includes assets in Guildford, Crawley and Luton.