TK Maxx have signed a deal to take a 10,014 sq ft unit at Bury St Edmunds Retail Park.

Property landlord Petros, advised by Edgerley Simpson Howe, has signed a deal with designer value fashion and home retailer TK Maxx to take a store at its Robert Boby Way Retail Park in Bury St Edmunds.

The fashion giant has signed for a 10,014 sq ft unit on a new 15 year lease with a break option at the end of year 10. The store opened earlier this month and is trading very well.

The retailer joins Halfords and PC World on the 30,000 sq ft edge of town retail park, which is situated next to a busy Waitrose foodstore that was previously also developed by Petros.

Edgerley Simpson Howe acted for Petros, while Morgan Williams represented TK Maxx.

Greggs, Carphone Warehouse and Subway have opened at Lady Bay Retail Park in Nottingham.

Greggs, Carphone Warehouse and Subway have opened at Lady Bay Retail Park in Nottingham. The terrace of 3 units was purposely built at the entrance to the scheme with rents ranging from £22 – £26 psf.

Carphone Warehouse and Greggs took 10 year leases with Subway agreeing a 15 year lease.

Edgerley Simpson acted on behalf of the Landlord LaSalle Investment Management

Edgerley Simpson Howe advised Standard Life in the sale of St Edmundsbury Retail Park, Bury St Edmunds. The scheme was built in the late 1980’s and is currently let to Homebase, Carpetright, Dreams and Pets at Home at £10-£20 psf expiring in 2014 to 2026.

The scheme was bought for £18,665m at a yield of 6.89% by Knight Frank Investors on behalf of Lancashire County Council Pension Fund.

Ropemaker Properties has completed the funding of a town centre development in Egham, which has been pre-let to Waitrose and Travelodge.

Work will now start on site with completion scheduled for Spring 2014.

The development is being carried out by Albemarle Egham, a joint venture between Albemarle Syndicates and Liberty Properties.

The total purchase price will be approximately £17.6m, and the net initial rent circa £1m pa, reflecting £25 per sq ft for the 32,035 sq ft Waitrose and £4,100 per room pa for the 80-bed Travelodge.

As part of the development there will also be a 174-space car park, most of which will be underground.

The property is the subject of a 150 year lease from Runnymede BC geared to 11% of rents received.

Tony Rogers of Edgerley Simpson Howe, which acted for Ropemaker, said: “This development has taken a long time to assemble and needed a very positive and pragmatic approach from the developers, Runnymede BC, the tenants and Ropemaker to bring it to fruition.

“It is a significant regional development which will do much to breathe new life into Egham’s town centre, and all parties are delighted with the result and look forward to the development being completed.”

Egan Property Asset Management acted for the developer.

Scottish Widows Investment Partnership have sold a 33,500 sq ft retail warehousing unit let to Wickes Building Supplies Limited. The property was sold for £5.872m reflecting a net initial yield of 7.25%. The property is let to Wickes for a further 15 years.

Edgerley Simpson Howe acted for Scottish Widows Investment Partnership and Harvey Spack Field acted for CBRE Global Investors

Pets at Home have taken a 4,000 sq ft unit next to B&Q at Golden Valley Retail Park in Cheltenham. They have taken a 10 year lease at a rent of £18.00 psf.
Edgerley Simpson Howe were acting on behalf of  B&Q Properties Limited with Curzon Sowerby Partners acting on behalf of Pets at Home.