Lidl upsize in Gravesend 

Following the surrender of the former AMF bowling unit, Lidl have relocated within the Park to a new 25,000 sq ft store.

Lidl have taken a new lease on the upsized unit at Imperial Retail Park for a period of 25 years.

ESH acted for the Landlord RPMI Railpen.

Aberdeen Standard secures Nando’s & planning for flagship UFC Gym

Aberdeen Standard Investments has successfully secured planning consent for a major 20,773 sq ft UFC gym at Reading Gateway.

The gym is an extension of the Ultimate Fighting Championship, the world’s largest mixed martial arts company and will create UFC’s third club in the UK and a flagship health and fitness centre for Thames Valley. UFC have taken a 15-year lease and is due to open in Q1 2020.

Nando’s have also signed a 20-year lease on a unit of 4,009 sq. ft., which is due to open at the retail park on 23 January.

There is one unit of 4,475 sq. ft. remaining to be let at Reading Gateway out of a scheme of 191,000 sq. ft.

Edgerley Simpson Howe acted for Aberdeen Standard Investments.

Food & Fitness comes to Cambridge Retail Park

Aberdeen Standard Investments has secured Lidl and The Gym Group to take space at their prime retail park in Cambridge. Homebase are right-sizing within their existing store with a refurbished garden centre.

Lidl, which is due to open early in the new year will occupy a new 20,000 sq ft unit on a lease for a period of 25 years.

Planning approval has been obtained for The Gym Group to trade from a new build unit extending to 7,500 sq ft with full mezzanine cover. The Gym will occupy the premises on a new 15 year lease. Works will be completed by Autumn 2020.

Homebase will right-size into approx. 40,000 sq ft.

Edgerley Simpson Howe acted for Aberdeen Standard Investments.

Maidstone Borough Council buys major in-borough leisure asset

Maidstone Borough Council have purchased the long leasehold interest of the Lockmeadow multi-let leisure scheme.

The park is situated on the fringe of the town centre alongside the River Medway and is anchored by an Odeon cinema. Other tenants include Hollywood Bowl, David Lloyd, Gravity Fitness, Greene King, Frankie & Benny’s and Gourmet Burger Kitchen. The scheme occupies a substantial site extending to c.8 acres and provides over 600 car parking spaces. Odeon have extended their lease to 15 years term certain alongside the Council’s purchase.

Maidstone Borough Council are the current freeholder and by merging the interests will be able to remove the existing headrent payable under the long lease.

Lockmeadow provides the major commercial leisure facility for Maidstone. Following their purchase, the Council are keen to introduce improvements to the environment, both internal and external, to ensure that Lockmeadow remains an exciting and vibrant place to visit. The Council is extremely interested to explore the ever changing occupier market and the new entrants to the leisure sector in order to establish a complimentary tenant mix.

The price paid was a headline of approximately £19 million reflecting 7.60% niy rising to over 8% following the immediate merger of the interests and with further guaranteed increases to follow. The Council were represented by ESH.

Mountain Warehouse sign up to prime retail scheme

Mountain Warehouse are set to open a new store at Princess Alice Retail Park in Sutton Coldfield.
The 5,000 sq ft unit, in between Next and Costa, will be one of their largest stores to date and is expected to open in time for Christmas.
ESH advised the landlord, Aberdeen Standard Investments.

Pure Gym take new lease in Rayleigh

CBRE Global Investors, advised by ESH have let the former Poundworld unit at Pelican Retail Park, Rayleigh to Pure Gym.

Pure Gym have taken a new lease on the unit extending to approx. 5,000 sq ft for a period of 15 years.