Pure Gym continue growth across London

Pure Gym have continued their growth across London having completed a sub-lease from UBS on the lower ground floor at 21 Lombard Street adjacent to Bank station.

Pure Gym is one of the largest gym operators in the UK and have acquired further sites across London and the UK throughout the beginning of the year. ESH acted for Pure Gym.

Pictured: 21 Lombard Street

Aberdeen Standard Investments complete sale of retail park portfolio

Aberdeen Standard Investments have completed on the sale of 6 retail parks with a combined capital value of over £290m in Q4 2019 and Q1 2020.

The retail parks were located in Guildford, Crawley, Luton, Solihull, Chippenham and Horsham.

ESH solely advised Aberdeen Standard Investments.

Starbucks complete trio of new drive thru units in Coventry. 

Starbucks Equity have recently completed on three new leaseholds, each for a term of 15 years.

The three locations are:

• Vanguard Avenue
• Crosspoint Business Park
• Binley Wood, A46

ESH advised Starbucks Equity on the three drive-thru units.

Farmfoods joins line-up in Aylesbury

Farmfoods has now opened at Aylesbury Shopping Park, it’s first in Aylesbury.

The expanding UK frozen food supermarket has signed a new 15 year lease on a unit extending to 8,700 sq ft. Farmfoods will sit alongside Lidl and adjacent to occupiers including B&M, Curry’s PC World, Hobbycraft, Homesense, Wickes and others.

ESH acted on behalf of the landlord Webster & Cannon.

Pictured: Farmfoods unit, Aylesbury Shopping Park 

Martin’s Properties adds retail park to its £375m portfolio.

Martin’s Properties have successfully completed the purchase of Hadden Hill Retail Park, Didcot from IM Properties.

The retail park extends to approximately 41,000sq ft and is let to retailers B&M, Halfords and Carpetright who have all recently committed long term futures to the park. An established Tesco Superstore is adjacent.

The acquisition will be Martin’s first retail park purchase and is the latest in a series of moves from the London-based developer and investor to diversify its portfolio. Last year, it bought its first commercial property in Crawley and a Travelodge in Hampshire.

“Yields across the retail warehousing sector have softened significantly over the past 18 months and we believe the market is undervalued where rental levels have already been rebased,” said managing director Richard Bourne.

Commercial asset manager Brook Stotesbury added: “The acquisition is expected to deliver solid returns with the capacity to drive additional value through active asset management.”

The price paid was £8.25m reflecting a yield of 7.6%.

Edgerley Simpson Howe represented Martin’s Properties.

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.