The Danish retail chain Jysk have taken a 6,000 sq ft unit at South Baileygate Retail Park in Pontefract.

The unit was previously occupied by Dreams who went into administration earlier this year. The retailer took at 10 year lease at a rent of £48,000 pa. Edgerley Simpson Howe were acting on behalf of Helix Property Advisors with Morgan Williams acting for Jysk.

LondonMetric Property has bought a pair of retail warehouses in Cardiff and Milton Keynes from clients of JP Morgan Asset Management for £25.8m, reflecting a combined net initial yield of 8%.

The deals, which are being funded from existing resources, are at Westcroft Retail Park in Milton Keynes, where there is 75,600 sq ft of space across eight units let to tenants including Boots, B&M, McDonalds and KFC. The park is fully occupied with an average unexpired lease term of 6.8 years to expiry and first break.

In Cardiff, Seager Retail Park comprises 33,800 sq ft of bulky goods consented space let to Wren Kitchens, Carpetright and Pets at Home. The park is fully occupied with an average unexpired lease term of 8.3 years.

Following the acquisition, the LondonMetric retail investment portfolio will comprise 35 assets with a combined portfolio value of £384.5m, representing 33% of the enlarged LondonMetric portfolio.

The retail investment portfolio’s occupancy is 98%, with an average passing rent of £16.40 psf and a weighted average unexpired lease term of 10.6 years (9.8 years to first break). Fixed rental uplifts across the retail investment portfolio represent 24% of total retail rental income, and 10% of the group’s contracted rental income.

Andrew Jones, chief executive of LondonMetric, said: “Both parks offer significant asset management opportunities to re-gear the leases, improve the tenant mix and to grow the income.”

Edgerley Simpson Howe advised LondonMetric and Yarnold & Partners and Cushman and Wakefield advised the clients of JPMorgan Asset Management.

On behalf of our client Scottish Widows, ESH have spent numerous months agreeing new leases and regears with a number of the current retailers ahead of an extensive refurbishment at Weston Retail Park, Weston Super Mare.

New leases have been agreed with Halfords and British Heart Foundation who will also be swapping units. Bensons for Beds and Somerset Beds have also agreed new 10 year terms with Dunelm extending their lease by 5 years (expiry 2023).

SWIP are currently undergoing an extensive refurbishment of the scheme which will see the frontages of all the units modernized. In addition the council are in the process of improving the main access road, Marchfields Way, which will ease congestion and flow of traffic into the scheme.

A pension fund client of ESH has entered into a funding agreement with Oakgate Monks Cross Ltd in respect of a major new shopping park at Monks Cross, York

The Vangarde Shopping Park will extend to 339,000 sq ft and be occupied by Marks and Spencer, Next and the first out of town John Lewis Department Store in the North East. A terrace of restaurants and small retailer pods completes the development.

The scheme is being constructed on a 30 acre site and is due to open by Easter 2014.

Marks and Spencer will occupy a unit of 130,000 sq ft across two retail levels and are purchasing their own unit on a long leasehold basis.

The Fund are acquiring the balance of the freehold scheme for £62.55 million, reflecting a yield of 5.15%.

The new flagship development will also provide significant funding for a new 6,000 seat Community Stadium as part of the enabling works

Atlantic Row 2013 would like to introduce their latest Gold Level Sponsor – Edgerley Simpson Howe.

Atlantic Row 2013 would like to introduce their latest Gold Level Sponsor – Edgerley Simpson Howe.

Edgerley Simpson Howe is a commercial property advisor specialising in the out of town retail warehouse sector. With offices based in Central London and Cobham, Surrey, they provide advice to clients focusing on out of town retail parks, leisure parks, mixed use schemes and foodstores.

The team of chartered surveyors provide investment advice for both purchases and sales, leasing and disposals, rent reviews and property management.

Edgerley Simpson Howe is a niche firm who pride themselves on giving clients sound, quality advice. Nick Howe of ESH said:

‘ESH are extremely proud to be supporting our colleague Dan Howie and his rowing partner Will North in their aim to row 3,000 miles across the Atlantic later this year. They have both put in a considerable amount of hard work and I am sure their crossing will be a great success’

Edgerley Simpson Howe’s agency team was out in force at the recent Completely Retail Marketplace event held in old Spitalfields Market on the city fringe.

Edgerley Simpson Howe’s agency team was out in force at the recent Completely Retail Marketplace event held in old Spitalfields Market on the city fringe.

With over 1,000 attendees, some 400 of them retailers, CRM was also the perfect platform from which to launch the company’s new brand identity.

Led by Nick Howe, the team of Tim Hornor, Adam Patrick, Andy Comber, Dan Howie and Lauren Chew held over 50 meetings with landlords, other agents and occupiers crunching potential deals in the out of town market.

This is the second year that ESH has supported CRM and Nick Howe comments: “CRM gathers all the main movers and shakers in a cost effective, no frills, one day leasing fair.

“As well as agreeing some important new leasing deals, we received very positive feedback from delegates on our new branding.”