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.
The investment team has completed the sale of two high street assets on behalf of RLAM.
Both properties are located in very strong and resilient retail centres, where there is still argument in owning prime, central high street assets. Both Leeds and Cheltenham are tourist and shopping destinations in their own right which benefit from consistently high levels of footfall.
83-83a Briggate, Leeds let to Flight Centre in its entirety with an unexpired term of 7.25 years. Bought by a foreign private investor, the transaction completed in January 2019 for £1.816m reflecting a Net Initial Yield of 6.50%.
20-22 Promenade, Cheltenham sold to a local private investor for £1.565m reflecting a Net Initial Yield of 5.54%. The property is let to Coventry Building Society, the UK’s 2nd largest building society for further 8 years.
For more information please get in touch with Patrick Over or Simona Malinova.
The Investment Team have acquired the freehold of 55-57 Northumberland Street in Newcastle upon Tyne on behalf of clients.
The property occupies a 100% prime retailing pitch on Northumberland Street, between entrances to Eldon Square and Monument Mall. The holding comprises circa 7,000 sq ft, is arranged over ground, basement and two upper floors and is secured to Sportswift Limited until June 2025.
The city ranks third of all UK centres, in terms of ‘Primary Catchment Population’ and ‘Per Capita In Store Comparison Retail Expenditure’.
The property was purchased for £4.885m.
For further information please contact Ed Smith.
Green & Partners acted on behalf of British Land in securing a new lease to Nysa at 186 Fulham Road. Founded in 2006, Nysa now has 42 wine shops in France and this is their first premises in the UK. Nysa agreed a new 10 year lease, with a tenant break at year 5, paying £45,000 pax.
For further information please contact Olly Gardner or Adam Bindman.
The Investment Team have assisted in acquiring the freehold of Waitrose on Foss Island Road in York on behalf of a UK pension fund.
The property comprised 35,000 sq ft on a site spanning 1.18 Hectares and is secured to Waitrose Limited until October 2030. The lease benefits from a further fixed rental uplift in 2020.
The property was purchased for in excess of £13.5m.
For further information please contact David Freeman or Ed Smith.