Acting on behalf of Cordea Savills, BC Commercial have acquired the retail warehouse investment known as Old Market Retail Park, Pitsea. The South East located park has Open A1 consent and is let to Store 21, Pets at Home, Farmfoods, KFC and McDonalds Restaurants Ltd. Our client acquired the property for a price of £8,175,000 and NIY of 6.03%.
Acting on behalf of Crumpler, we have acquired a store at Bluewater shopping centre. This will be there 7th store in the UK following their recent opening earlier in the summer at Meadowhall, Sheffield. Crumpler have taken a 5 year lease on UO70b which extends to approximately 570 sq ft sales. In 2012 Crumpler will be looking for a minimum of two new stores in locations including Birmingham, Brighton, Edinburgh, Glasgow, Liverpool and Leeds.
Over the summer, we moved into our new offices and are now based at 20 Little Portland Street, W1.
In the constant search for new retailers BC have launched a platform that targets new brands to London. www.StreetBeetle.com will try to tap into the youngest companies working heavily within the blogosphere and social media outlets such as twitter and combining this with a presence at fashion launches and trade fairs, such as Pure London and Bread & Butter. Initial success has been to help the European retailer Noe Shoes establish in the UK and acquire premises on the Kings Road.
To keep up with the StreetBeetle’s progress get onto Twitter and follow @StreetBeetle or you can view the blog at www.StreetBeetle.com.
Acting on behalf of a private investor we have successfully leased 17 High Street premises to Mint Velvet. Mint Velvet was set up by the ex Rubicon Retail/Principles Management team www.mintvelvet.co.uk Located across the UK in 70 premium department store concessions (including John Lewis, Fenwicks, House of Fraser) plus standalones stores now trading in Windsor, Chichester, Tunbridge Wells & Marlow. A new 10 year lease was agreed at a commencing rent of £52,000 per annum exclusive. The Harpenden store should be open for trade in early November.
BC Commercial have now successfully let seven units in Harpenden this year.
Acting on behalf of a private investor, BC Commercial acquired 157 Commercial Road, London E1. The property is let for a further 15 years to Hawksmoor Restaurants (www.thehawksmoor.co.uk) and produces a yield of 7.25% after costs.
The agency team within BC Commercial are very active in the Spitalfields, Bricklane and Shorditch areas and expect good medium and long term performance from this emerging part of London.
We are happy to see the arrival of Jon Puddifant who joined us from CWM in May. He brings over 15 years of experience dealing mostly in the Central London retail market and will be focussing primarily on acquiring stores for retailers. Jon will continue to act for a diverse range of fashion retailers such as Nigel Hall Menswear, J Lindeberg and Laird of London as well as restaurant and food operators such as Pret a Manger, Itsu, Mori Sushi, Vivat Bacchus and Daddy Donkey Mexican Grill.
Acting for Legal & General, BC Commercial has successfully leased 70 North End to Footlocker. The premises extends to approximately 3,400 sq ft over ground and first floors. A new 10 year lease was agreed at a rent of £140,000 per annum exclusive.
Acting on behalf of Threadneedle Investments, BC Commercial have disposed 30/32 High Street in Harpenden to Country Casuals. A new 10 year lease was agreed at a rent of £77,500 per annum exclusive. The Tenant will trade as Country Casuals and Viyella.