Go Outdoors have opened the largest outdoor retail store in the UK, following the acquisition of the former B & Q premises in Coatbridge, Glasgow, advised by Thompson Heaney.
Advised by Thompson Heaney, Homebase have acquired a new store in Ashborne comprising 20,000 sq ft, on the development of the former Nestle factory on Clifton Road.
Argos have acquired Unit B, Heybarnes Circus in Birmingham on a new 15 year lease at a commencing rent of £200,240 per annum, advised by Thompson Heaney.
Acting on behalf of ScS Upholstery Plc, a new 15 year lease subject to 5 yearly rent reviews have been taken upon Unit 10, Giltbrook Retail Park on a unit of 7,200 sq ft, at a commencing rental of £208,307 per annum.
Acting on behalf of First Choice Plc the leasehold interest at Unit 1A, Quarry Retail Park, Craigleith, Edinburgh, has been sold to the landlord for a substantial premium of £2 million. The property was held on a 20 year lease from the 7th May 1999 at a passing rent of £293,799 per annum. The unit was 10,131 sq ft. Marks & Spencer have taken a new lease on the property.
Acting on behalf of ScS Upholstery Plc, a new 25 year lease, subject to 5 yearly reviews, was taken on Unit 6, Parc Pemberton, Llanelli, at a rent of £20 per sq ft upon a unit of approximately 7,000 sq ft. There was a 3 month rent free period and a capital contribution of £250,000.
Acting on behalf of First Choice Plc the property at Kingswood Retail Park, Hull which comprised 10,000 sq ft, has been downsized in line with the company’s policy of downsizing the original Holiday Hypermarket model. The existing property was at a current passing rental of £240,000 per annum. The new property comprises 5,000 sq ft at a rental of £168,640 per annum and the business had the benefit of a substantial premium for a surrender of the former leasehold interest.
Thompson Heaney are pleased to announce that they have become the property partners for Mamas & Papas.
Mamas & Papas occupies a unique position within the UK nursery market with their own network of over 32 stores across the UK and Ireland. Mamas & Papas sell through wholesale, to other retailers such as the John Lewis Partnership, Harrods and Selfridges, as well as to over 500 specialist independent retailers. Within the market, their positioning is as an aspirational brand, appealing to people who want to surround their baby with style, elegance and comfort.
Thompson Heaney is a firm of chartered surveyors specialising in the retail property market. Thompson Heaney will be working with Mamas & Papas advising them and working with them on their acquisitions, rent reviews, lease renewals, and the ongoing asset management of their existing portfolio. Existing Thompson Heaney clients include, Argos, ScS Upholstery, First Choice Retail and Homebase.
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