LV= Asset Management, advised by Edgerley Simpson Howe LLP, have sold the Halfords, Ringwood Road, Poole for £2.65 million reflecting a net initial yield of 7.75%. The property was purchased by Cromwell Holdings.

The unit comprises 14,574 sq ft at ground floor and is let to Halfords Ltd on a lease expiring in September 2017 at a rent of £14.93 per sq ft. The planning consent is for open A1 non-food use.

Stephen Smart & Company advised Cromwell Holdings. 

Mayfair Capital, advised by ESH, have sold the 24,780 sq ft Dunelm in Middleway, Birmingham for £4 million to Henderson Global Investors. The purchase price reflects a net initial yield of 7.44%.

The property is prominently located on the city centre ring road and benefits from an open A1 non-food planning consent. The rent is £314,670 per annum, equating to £12.70 per sq ft and there is approximately 8 years unexpired.

Gerald Eve advised Henderson.

For further details contact Michael Radcliffe.

Is retail warehouse agency a guessing game? It was last month, when niche firm Edgerley Simpson Howe hosted the 18th annual “spoofing” championship, a pastime that involves guessing the number of coins – between zero and three – held in an opponent’s hands.

For the first time a client, instead of the usual ‘agents only policy’, entered the fray and made it the whole way to the final. Sandy Wilson of Threadneedle was then pipped to the coveted title by James Hurst of CBRE who was awarded the “wooden spoon” prize: £10 of Greek government bonds!

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Royal London Asset Management, advised by Edgerley Simpson Howe, has let a newly created store at Century Retail Park in Watford to Pets at Home.

Pets at Home will take the 9,722 sq ft store, which was previously occupied by Comet, on a new lease expiring December 2024 at a rent of £33.00 per sq ft.

Comet have agreed to rightsize their existing store to make room for Pets At Home who open in March next year.  Comet will remain trading throughout the process and have agreed to pay the same equivalent rent on a lease also expiring in 2024 on a unit of 9,903 sq ft., within which they will have installed a full cover trading mezzanine.  This new store will open in mid-December 2011.

Other retailers on the scheme include Toys R Us, Hobbycraft, Halfords, Currys and Furniture Village.

Edgerley Simpson Howe acted for RLAM.

Stephen Smart & Co acted for Comet

Curson Sowerby Partners advised Pets At Home.

Edgerley Simpson Howe are proud to support ‘The Story of Christmas 2011 Appeal’ in aid of CRASH and Wooden Spoon.

For more information please visit http://www.socappeal.com

For the second year running Edgerley Simpson Howe entered an elite 4 man team into the Property Velodrome Cycle Challenge at Herne Hill in aid of International Childcare Trust. Having finished 2^nd last year a team consisting of Jamie Naughton, Dan Howie, Dominic Russell (Aberdeen Asset Management) and Jonathan Gibbon (Aberdeen Asset Management) was assembled to bring home the trophy.

The events this year consisted of an Australian Pursuit, Team Pursuit, Points Race and Scratch Race. Jamie set about obliterating the rest of the field in the Australian Pursuit to win maximum points. A great start which unfortunately could not be repeated in the Team Pursuit finishing just outside of the points after a bold lead out by Jonathan and blistering second leg from Dominic. The third race saw Dan take maximum points in an enduring battle of 5 sprint finishes which left him so exhausted he was lifted from his bike by his team mates. The final event was the Scratch Race where Jamie again managed to notch up a few more points with a 4^th place finish, having started half a lap down following a confused start.

Unfortunately the final tally of 15 points was not quite enough to beat LSH who won with 18 points resulting in second place for ESH.

More importantly a total of £8,000 was raised for International Childcare Trust (ICT) making the event a great success.  For more information on the ICT please click on the following link…..

http://www.ict-uk.org/