NEW INSTRUCTION: ESH are delighted to have been appointed by Glenbrook, alongside joint agents Petch & Co, on Springfields Retail Park in Newcastle-Under-Lyme.

The scheme has a great line-up including B&M, The Food Warehouse, Pets at Home and Halfords, with Greggs drive thru coming soon (STP). There is a final unit of 6,931 sq ft immediately available, so please get in touch with any potential requirements. For further information please contact either Adam Patrick or Giles Pickford.

Jollyes Pets, solely advised by ESH, have secured 3 new stores in Scotland as part of their continued expansion.

Jollyes have taken 10 year leases on units at Hermiston Gait Retail Park, Edinburgh (7,500sqft) and Burghmuir Retail Park, Stirling (6,000sqft) and a 5 year lease at Saltire Retail Park, Glenrothes (5,000sqft).

Jollyes continue to seek further opportunities throughout the UK.

Custodian Capital, solely advised by ESH, have completed 2 new lettings on Kew Retail Park, Southport.

Jollyes Pets have taken a vacant 6,000sqft unit on the park on a new 10 year lease and CVS Group (veterinary practice) have taken a 15 year lease on the former Carphone Warehouse unit of 3,000sqft adjacent.

The park is now fully let, but with further asset management opportunities available.

Pure Gym advised by ESH have completed four new acquisitions and their first in Northern Ireland for four years.

Pure Gym will open in:

• Yate, Riverside Retail Park
• Haywards Heath, South Road
• Ballymena, Braidwater Retail Park
• Boston, Alban Retail Park

ESH also advised on a lease re-gear with their existing facility in Ashton under Lyne, Ashton Retail Park.

ESH acting on behalf of FPG have completed a letting to JD Gyms on Prestige Retail Park, Burnley. JD Gyms have taken a unit of 10,005 sq ft GIA on a new 15 year lease and will provide an alternative use to Sainsbury’s & Curry’s who currently occupy units on the scheme.

A final unit of c.10,061 sq ft GIA is available to let. For further information contact Chris Fenton.

A client of ESH, Martin’s Properties has snapped up a portfolio of four assets comprising a combined 130,000 sq ft in the South East for £23.1m.

The four freehold assets, spanning 10 acres, include a Wickes retail warehouse in St Albans, Andover Retail Park in central Winchester and Speedfield Retail Park in Fareham, plus a multi-let industrial estate in Milton Keynes. The fully let portfolio, purchased with cash resources, is all currently rated EPC ‘C’ or higher and its acquisition will add £1.5m per year of rent for Martin’s Properties.

Brook Stotesbury, head of commercial asset management and investment at Martin’s Properties, commented: “We were delighted to be presented with this opportunity at a significant discount to pricing at the start of the year. The assets represent good long-term income to strong covenants in excellent macro and micro locations within the South East.”

Richard Bourne, chief executive of Martin’s Properties, said: “The off-market acquisition of this portfolio highlights our growing reputation including the strength of our team, the convenance of our capital and our ability to act swiftly.
“We have been patient with our deployment of capital over the past two years and have quietly built up a strong cash position which we are now able to deploy in an evolving market.
“We now have over £320m and 500,000 sq ft of assets under management and have radically changed the composition of our portfolio, having deployed over £40m of cash in the last two months and £63m in the last 12 months.”
He added: “We still have £65m of cash to invest and continue to look for opportunities to use our in-house development and asset management expertise. Our immediate focus is on securing further acquisitions where we can add value through development and repositioning to deliver opportunistic risk-adjusted returns.”

ESH are looking forward to working with Martin’s on the retail asset management of Fareham, St Albans & Winchester.