A managed fund of Abrdn, represented by Edgerley Simpson Howe, have disposed of the long leasehold interest in Augustin Retail Park in Grantham for £3,800,000.

The property extends to 32,606 sq ft of flexible retail warehouse space let to Next, Sports Direct, Iceland, Poundland and Pets at Home. The rent range is from £11 – £18 per sq ft and the purchaser will receive an initial return of approximately 8.5%.

St Peter’s Wharf Retail Park in Maidstone was purchased by M7 for £19,700,000. The scheme comprises of 93,685 sq ft fully let to Asda Living, Hobbycraft, TK Maxx and The Range at an average rent of c.£18.20 per sq ft. Vendor was CBRE IM.

Maidstone is a popular commuter town with easy access to London. The asset is located in close proximity to the town centre, with neighbouring occupiers including Travelodge and Wickes.

M7 Real Estate, advised by Edgerley Simpson Howe, have purchased Paddocks Retail Park in Weybridge.

The scheme comprises 21,903 sq ft let to Argos and Currys PC World at £33.28 per sq ft. M7 bought for a purchase price of £8,000,000. The asset was sold by Aviva Investors.

The asset is prominently located on Sopwith Drive with a Lidl foodstore adjacent. The site is surrounded by Brooklands Estate, a dominant M&S and Tesco.

ESH advise on trio of Sofology lettings.

ESH are delighted to have advised landlord clients Aberdeen Standard, M&G and CBREGI on a trio of lettings to the furniture retailer Sofology.

Cambridge, Cambridge Retail Park is now open.

Poole, Wessex Gate Retail Park is scheduled to open in time for Boxing Day 2021.

New Malden is set to open for the August Bank Holiday weekend.

CBRE Global Investors upsize B&M in Southampton.

CBRE Global Investors have successfully completed a new letting to B&M in Millbrook, Southampton.

The FTSE 100 retailer who is already located on the scheme will upsize from their existing unit to a unit which extends to c.33,000 sq ft and was formerly occupied by Homebase. As part of the transaction B&M have agreed a new 15 year lease and are to surrender their lease on their former unit.

ESH act on behalf of the Landlord CBRE Global Investors.

ESH secures dual lettings to Bensons.

ESH’s landlord clients at Weston Super Mare and Rayleigh Weir in Essex have completed new lettings to Bensons for Beds on new 5 year lease terms at strong rents, given alternative competition for both locations despite the turbulent climate.  The deals also involved simultaneous surrenders being agreed with the previous company’s administrators. 

ESH acted for CBREGI at Rayleigh and Aberdeen Standard Investments at Weston.