On behalf of RLAM, Green & Partners have bought to the market four Prime, Freehold, Retail Investments secured to Lloyds Bank Plc until June 2026, located in Chichester, Guildford, Newcastle upon Tyne and Kingston upon Thames.
Offers are sought in excess of £24,400,000 (Subject to Contract & Exclusive of VAT) for the package, although offers will also be considered for a combination of, or assets in isolation. For more information please contact a member of the Investment Team, David Freeman, Ed Smith or Patrick Over.
Pan-European real estate investment manager Redevco has, on behalf of one of its investors, acquired the White Lion Walk covered shopping arcade with 23 retail units in Guildford in the UK from Aviva Investors. The purchase price was around £12 million.
Andrew Vaughan, CEO at Redevco, said: “White Lion Walk is strategically located in the centre of Guildford and connects the town’s two main retail pitches, which means it benefits from a naturally high footfall of passing shoppers. Redevco plans to modernise the arcade, which is already well-positioned for redevelopment, to make it a more attractive shopping environment and curate a more exciting tenant mix. This is in line with our strategy of only investing in areas where we can add value by creating good quality retail space that serves the needs of the local community.”
Guildford is an affluent market town in the county of Surrey, 44 kms (27 miles) to the southwest of London and benefits from excellent transport links making it a very popular commuter destination. The town is categorised as ‘Very Good’ under Redevco’s ‘City Attractiveness Index’ of European retail destinations and is ranked at 19th among UK cities.
Guildford’s total retail catchment population is 5.5 million people, while its local shopping population is 240,869, making the town 58th nationally, for a comparison goods spend estimated at £935 million. The catchment is forecast to experience above average population growth of 8.0% between 2014 – 2024.
Green & Partners and CMS advised Redevco on the transaction.
On behalf of LaSalle Investment Management, Green & Partners acted jointly with E J Hales in securing a new 10 year lease with a tenant only break in year 5 to Philip Morris Ltd T/A IQOS in Cardiff City Centre.
This letting compliments the existing line up on The Hayes, with nearby retailers including Waterstones, TK Maxx, Fred Perry and Joules. For more information please contact Adam Bindman.
A Private Investor, advised by Green & Partners, has recently purchased the Aldi at Rheims Way, Canterbury.
The property was let to Aldi Stores Limited on a 20 year FRI lease from 23rd July 2012 (13 years to lease expiry) at a current passing rent of £268,279.81 pax. The lease is subject to 5 yearly upward only rent reviews based on the increase in the RPI capped at 3% pa compounded.
This transaction is the latest in a number of food store acquisitions and disposals for Green & Partners.
On behalf of LaSalle Investment Management, Green & Partners have secured a new 20-year lease to Brewdog in Cambridge City Centre.
Brewdog will be opening in the premises formerly occupied by Cau, who went into administration in 2018. This letting compliments an array of F&B operators in the vicinity, including Zizzi, Pho and Honest Burgers. For more information please contact Olly Gardner.
On behalf of BMO Real Estate Partners, Green & Partners have completed a new letting to Seasalt Cornwall at 46 High St Winchester.
The premises, formerly occupied by Cath Kidston, were simultaneously let with no void period, highlighting the continued demand for retail space in Winchester. For further information please contact Mike Willoughby.
Advising CBRE Global Investors Green & Partners have secured a new letting to Anthropologie at 92 Promenade, Cheltenham.
The letting is the conclusion of over 5 years of asset management advice and confirms the Promenade as the town’s fashion and lifestyle pitch.
For further information please contact Adam Bindman and Patrick Over.
Green and Partners have secured a new 10-year lease to JD Sports in the former New Look premises at Commercial Road Portsmouth.
The instruction saw advice provided to Aspect Property Group throughout the former tenants CVA process. JD opened in May 2019.
For further information please contact Adam Bindman
Green & Partners have sold a high street retail investment opportunity on behalf of LaSalle Investment Management. The asset is located in a prime location in the centre of Tonbridge and lends itself to a much larger residential development. A private developer has purchased the freehold opportunity for £2.6m reflecting a net initial yield of 6.06% having marketed the investment for 7.5% NIY.
For further information please contact Patrick Over.
Green & Partners acquired the Nando’s in Pioneer Square, Bicester.
The property is fully let to Nando’s Chickenland Limited for a term of 20 years expiring August 2033. The property is held by way of 999-year leasehold interest from 13 January 2012.
The acquisition reflected a Net Initial Yield of 5.75% at £1,025,000.
For more information please get in touch with Patrick Over.