CBRE Global Investors sell B&M Newcastle.

Following a letting to B&M in the unit formerly occupied by Homebase, CBRE Global Investors, advised by ESH have successfully completed the sale of the stand-alone asset in Kingston Park, Newcastle.

The Kingston Park area is a well established retail warehousing destination with retailers including M&S, Next, Matalan, TK Maxx, Sports Direct, and Curry’s PC World all represented.

The property which extends to approximately 34,500 sq ft was let at a rent of £9.87 per sq ft on a new 15 year lease from April 2019 and was purchased by a private investor for £4.40 million, reflecting a net initial yield of 7.25%.

Aberdeen Standard Investments secure two new lettings in Colchester.

Aberdeen Standard Investments, advised by ESH have completed two new lettings to Pure Gym and Subway at Colchester Retail Park. The tenants will occupy a sub-division of the unit formerly occupied by DW Sports and line-up alongside occupiers including Matalan, Poundland, Shoezone, Choice Discount Stores and Starbucks.

Pure Gym have taken a 15 year lease on the premises extending to approximately 10,400 sq ft and are expected to open to members in Spring 2020.

Subway have also taken a 15 year lease on a unit extending to approximately 1,200 sq ft.

Topps Tiles take new lease in Banbury.

Topps Tiles are set to open a new store at the two-unit Linkway scheme on Southam Road, Banbury, adjacent to Wickes.

The tiling specialist retailer has agreed a 10 year lease on a unit formerly occupied by Office Outlet and it will become of their largest stores to date extending to approximately 10,500 sq ft.

The letting will see Topps Tiles re-locate from their existing unit along Southam Road, adjacent to Dunelm.

ESH acted for the Landlord, Barings Real Estate.

ESH represents institutional client on retail warehouse portfolio sale.

An institutional client, advised by ESH, has successfully completed the sale of a retail warehouse portfolio. The price paid was a headline of approximately £190 million and includes assets in Guildford, Crawley and Luton.

Primark continue UK expansion with Tamworth addition

The global fashion retailer Primark is continuing its UK expansion by signing a new 10 year lease on Phase 1, Ventura Retail Park.

The unit which is currently under construction is due to open later this year and will comprise a total GIA of approximately 49,000 sq ft across two floors.

Primark intend to continue their UK expansion over the coming financial year having announced 18 possible new store openings.

ESH advised Primark.

Download here: ESH 2019 Highlights