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Green & Partners Complete Sales In Leeds And Cheltenham

Green & Partners Complete Sales In Leeds And Cheltenham

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.

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Investment Team Complete Prime Newcastle Retail Acquisition

Investment Team Complete Prime Newcastle Retail Acquisition

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.

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Nysa Open First UK Branch On Fulham Road

Nysa Open First UK Branch On Fulham Road

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.

 

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Investment Team Acquire Another Foodstore for Clients

Investment Team Acquire Another Foodstore for Clients

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.

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Boots sign in St Stephen’s, Hull

Boots sign in St Stephen’s, Hull

Acting on behalf of British Land, Green and Partners have successfully secured a new 30,000 sq ft Boots MSU, reinforcing the dominance of St Stephen’s which comprises 552,000 sq ft of retail and leisure dominating the retail offer of Hull. Other notable retailers include; Next, H&M, Topshop/Topman, River Island, Tesco and TK Maxx.

To facilitate the provision of the new store surrenders were undertaken from Peacocks, Clintons and Sports Direct. Boots entered into a 15-year lease, at an undisclosed rent, with a programmed opening in May 2019.

For further information please contact Paul Cooper or Adam Bindman.

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High Street Retail Parade Sold in Kings Heath

High Street Retail Parade Sold in Kings Heath

Green & Partners investment team have sold 120-138 High Street, Kings Heath on behalf of La Salle IM.

The property produces a net combined income of £445,860 pax and comprising 7 retail units let to tenants including Wilko, Burton, Specsavers and Greggs.

The property sold for £4.765m.

For more information contact David Freeman

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Two new openings in Westwood Cross

Two new openings in Westwood Cross

Acting on behalf of Landsec, Green and Partners, jointly with Morgan Williams, have undertaken the 2 following transactions in Westwood Cross, Thanet, Kent:

Foot Asylum took a new 10-year lease of the former Poundworld, which comprises 5,030 sq ft, at a commencing rental of £157,500.

EE have taken a new 10-year lease of the former Five Guys, which comprises 2,335 sq ft, at a commencing rental of £125,000 pax.

Please contact Paul Cooper for further information.

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Green and Partners land Boots in Lincoln

Green and Partners land Boots in Lincoln

Acting on behalf of M&G, Green and Partners have let the former Bhs to Boots.

The store comprises 33,500 sq ft over 2 trading floors. A new 15-year lease was entered into by Boots at the passing rent of £491,250 pax.

Please contact Paul Cooper for further information.

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Nationwide Bank on Leamington Spa

Nationwide Bank on Leamington Spa

The world’s largest building society has recently completed on a new lease at 79/81 The Parade, Leamington Spa. Acting on behalf of Royal London Investment Management, Green & Partners have secured Nationwide on a new 10-year lease of the amalgamated accommodation at a rental of £95,000 per annum exclusive.

For further information please contact Matt Beardall.

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Investment Team Sell Food Store Anchored Scheme in Midsummer Norton

Investment Team Sell Food Store Anchored Scheme in Midsummer Norton

G&P Investment Team have sold a Sainsburys Supermarket anchored Convenience Parade in Midsummer Norton on behalf of clients of LaSalle IM.

The investment comprised a site spanning 2.95 acres. 83% of the income was secured to Sainsburys Supermarkets Ltd, expiring 2025. The remaining units are let to tenants including Costa, Barnardo’s and a number of local occupiers.

BANES purchased the property for £5.7m.

For further information please contact Patrick Over.

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