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Standishgate – Wigan

Standishgate – Wigan

Miller Developments Ltd advised by Green & Partners have sold 22-26 Standishgate in Wigan.

The retail holding, let to Bhs Ltd with an expired term of 11.25 years has an annual income of £356,000 per annum.  The unit is currently underlet to B&M Retail Ltd.

For further information, please contact David Freeman, Ed Smith or James Baillie.

 

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The Pentagon Centre Letting Update

The Pentagon Centre Letting Update

Acting as joint agents on behalf of Bride Hall, Green & Partners have secured new lettings to JD Sports, Carphone Warehouse and Virgin Media.

JD Sports are re-siting and upsizing to a new 5,000 sq. ft. store on a new 10 year FRI lease and Carphone Warehouse have agreed terms to acquire the former JD store, also on a new 10 year FRI Lease.  These follow the recent completion of new lettings to both Timpson and Virgin Media.

For further information, please contact Adam Bindman.

 

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Green & Partners secure Carphone Warehouse in South Shields

Green & Partners secure Carphone Warehouse in South Shields

Acting on behalf of AVIVA Investors, Green & Partners have secured a new 10 year FRI lease on Unit 3, 35-37 King Street, South Shields to Carphone Warehouse.

The unit is located on the pedestrianised section of King Street close to the Metro station. The unit provides 2,013 sq. ft. on ground floor with 1,171 sq. ft. at first floor.

For further details please contact Adam Bindman.

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Green & Partners appointed on Treaty Shopping Centre in Hounslow

Green & Partners appointed on Treaty Shopping Centre in Hounslow

Green & Partners have been instructed to advise on professional matters at the Treaty Shopping Centre in Hounslow on behalf of Quidnet Capital.

The 275,000 sq. ft. shopping centre is anchored by Debenhams, New Look and Wilkinsons.

For further information, please contact Stephen Parker.

 

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Eastbourne – Debenhams

Eastbourne – Debenhams

Green & Partners advised Santander (CF Trustee) Limited (c/o LaSalle Investment Management) on the freehold purchase of 158/170 Terminus Road and 4/6 Lismore Road, Eastbourne.

The department store, comprising over 100,000 sq. ft, is located in a strong pedestrianised retailing pitch on Terminus Road opposite Marks & Spencer and near to the entrance of the Arndale Shopping Centre.  Let by way of a 30 year FRI lease to Debenhams Retail plc from 25 March 2004 (22 years unexpired) the current rent is £778,882 per annum (£7.57 psf overall) and is subject to annual fixed rent reviews (until 2019) and five yearly minimum rental uplifts or OMV thereafter.

A price of £11.88m was paid, reflecting a net initial yield of 6.2%.

Please contact David Freeman for more information.

 

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Eat move into Broad Street Reading

Eat move into Broad Street Reading

Acting on behalf of AXA Reim, Green & Partners have let No. 35 Broad Street, Reading to Eat.

The unit is situated in a prime location on the corner of Broad Street and Queen Victoria Street, opposite John Lewis department store.  Eat acquired the unit on a new 10 year FRI lease at £150,000 per annum.

For further information, please contact Stephen Cottrell.

 

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Agency Team expands

Agency Team expands

Nathan Smith has joined Green & Partners from LSH where he worked within the Agency and Lease Advisory teams.

Nathan will join as a Surveyor and will work in the agency department, working across the In Town market including High Street and shopping centres. He will work alongside Partners Stephen Cottrell and Paul Cooper.

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Guildford, 70 High Street

Guildford, 70 High Street

AXA Real Estate advised by Green & Partners have sold 70 High Street in Guildford.

The retail holding, let to Jack Wills Limited with an annual income of £222,500 pax achieved £4.425m, reflecting a net initial yield of 4.75%.

For further information, please contact David Freeman, Ed Smith or James Baillie.

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Further Success at Edmonton Green

Further Success at Edmonton Green

Following completion of the refurbishment of South Mall in November 2011 by the owners of Edmonton Green Shopping Centre, St Modwen, lettings have been agreed in the scheme to Wilkinson and Sports Direct.

Wilkinson (http://www.wilko.com) have exchanged on a new 22,000 sq. ft. store in North Square which is to undergo major refurbishment.  Works are due to commence to the site in March. Sports Direct have agreed terms to take 18,000 sq. ft. of first floor accommodation in North Mall . These lettings build upon the success of recent lettings to Costa Coffee, Blue Inc, Lidl and Home Bargains.

For further information please contact Adam Bindman or Matt Beardall.

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Blockbuster appoints Green & Partners

Blockbuster appoints Green & Partners

Green & Partners have been instructed to dispose of 5 out of town stores for Blockbuster Entertainment Ltd.

Following a portfolio review the company has identified units that are either too large or surplus to requirement.  Units are available by way of subletting or assignment.

For further details, please contact Richard Price.

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