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.
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.