Rowan Asset Management has acquired the retail investment property known as 23-27 Gallowtree Gate and 2-6 Victoria Arcade in Leicester from clients of AXA REIM.
The property is leased in its entirety to two tenants; Clinton Cards and 3 Retail, and produces a total income of £340,000 pax. The purchaser paid £4.1M which reflects a net initial yield of 7.84%.
BC Commercial acted on behalf of Rowan Asset Management and CBRE acted on behalf of AXA REIM.
For further information please contact Richard Beim or George Hotham of BC Commercial.
BC Commercial acting on behalf of landlord, the Eldar Group, has successfully let the above retail premises in Loughton to Robert Dyas.
A new 10 year lease was agreed with Robert Dyas where the commencing rent payable will be £85,000 per annum.
For further information please contact Nick Furlong.
Acting on behalf of a private investor BC Commercial has successfully let the above premises to Internacionale Retail Limited.
A new 10 year lease was agreed at commencing rental of £90,000 per annum exclusive. 205 High Street extends to approximately 5,800 sq ft over ground and first floors.
For further information please contact Nick Furlong
In Q4 of 2009 BC Commercial acquired 7 retail premises on behalf of O SPA London.
Stores were acquired in New Bond Street, Westfield London, Leadenhall Market, Cabot Place Canary Wharf, The Royal Exchange, Devonshire Square and Windsor Royal Station.
OSpa London is a provider of luxury spa experiences for the face and body. They are looking to expand their retail presence throughout the UK for both their spa salon concept of over 2,000 sq ft and their product shop concept of over 500 sq ft.
Please contact Michael Chudzynski for further information.
BC Commercial acting on behalf of F&C REIT has successfully let Unit 2, 18 Lime Street & 63 Leadenhall Market to Gieves & Hawkes.
A new 15 year lease was agreed which will be subject to a tenant only break in the 5th year. The commencing rental is to be £122,500 per annum exclusive. The shop will extend to approximately 1,075 sq ft and is set to open for trade in early 2010. Johnstone Hall acted for Gieves Hawkes.
For further information please contact Michael Chudzynski.