ESH are delighted to have represented LCP on the purchase of Alexandra Retail Park in Grimsby. The vendor was represented by Savills.

The park consists of approximately 126,000 sq ft of retail warehouse space, occupied by Food Warehouse, Pets at Home, Matalan, Poundstretcher, SCS, Argos and My Energi. The average passing rent is £10.80 per sq ft and WAULT of 3.7 yrs to expiry and 3.4 yrs to break.

The ESH team have been helping out at the The London Soup Kitchen on Tottenham Court Road over recent months and continue to do so. Having the chance to help, in what feels quite a small way, is humbling and something we all wanted to do in Central London when we witness homelessness in our own backyard every day. The charity is run by an inspirational group of people, and, like all charities, it relies on the compassion and kindness of others to provide meals to those in need. In our brief experience though, not only is it the basics of food, water, clothing and warmth that are required, but also in many cases simply recognition for being human. The ability to have a conversation with someone, when most of the time all around people simply ignore or walk past, is seemingly immeasurable. If this is something you or your company would like to get involved with, then please see details on their website at https://soupkitchenlondon.org/.

ESH advised an institutional client of CBRE on the freehold purchase of Griffiths Way Retail Park in St Albans at a price of around £30m. The prime retail park in Hertfordshire was developed 2020 and is fully let to B&Q, Aldi and Costa. LXi REIT were the vendor.

Acting on behalf of clients Hobart Activum, ESH are delighted to have advised on the sale of Studlands Retail Park in Newmarket, to Hathaway Opportunity Fund.

ESH helped acquire the 73,000 sq ft retail park in early 2021 and successfully delivered on a progressive asset management strategy that involved 4 lease renewals/regears and 2 new lettings to enhance the overall income and expiry profile of the scheme.

Morgan Williams acted for the purchaser.

Barker & Stonehouse have opened their brand new store in Gateshead. The established furniture retailer purchased the land through the simultaneous acquisition of the long leasehold from CBRE investment managers and freehold from a private investor. The store was built out and will be retained by Barker & Stonehouse.

The new unit extends to approx. 27,000 sq ft GIA and will greatly enhance Barker & Stonehouse’s offering in the region.

ESH represents Barker & Stonehouse.

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ESH are delighted to have helped M7 secure new lettings to TK Maxx (now fitting out) and KFC at Weybridge – The Paddock Retail Park.

TKs are now installing their mezzanine and should be opening in July. KFC is a new build, with planning now granted and works commencing imminently, so they should be fitting out by late summer.

TK Maxx will occupy a unit extending to 10,089 sq ft GIa and have taken a new lease for 10 years whilst KFC’s new build unit will extend to approx. 1,800 sq ft GIA. KFC have agreed to a 20 year lease.