March 2019
Letting
Stamford - 55 High St

  • New letting to Oasis Fashions as town bucks the trend
Fawcett Mead are pleased to complete a new lease of the former Jones the Bootmaker, to Oasis Fashions, who join other recent entrants including Hotel Chocolat, JoJo Maman Bebe, Space NK and Seasalt.

Ben Symes, Symes Retail Property acted on behalf of Oasis.
[read more]

March 2019
Letting
Canterbury : 17 High Street

  • Fawcett Mead are pleased to complete a new 10 year lease to The Works at £91,000 pax, on behalf of a private client.

March 2019
CoStar : Top Local Investment Agents by Value

  • We are very pleased to have been named the second most active single branch investment agent in London for 2018.

March 2019
Investment Sale
St Neots : Leisure Park

  • Prime leisure investment in affluent market town
  • Passing Rent: £525,547 per annum
  • Net Initial Yield: 6.75%
  • Price: £7,600,000
Acting on behalf of HPPUT, who were advised by Gerald Eve, Fawcett Mead has sold this prime leisure investment to Huntingdonshire District Council. The purchase price of £7,600,000 reflected a NIY of 6.75%. 92% of the income is attributable to Cineworld, Prezzo, Frankie and Bennys, Pizza Express and Britannia Parking, with a WAULT of c.18 years.

Nick Carvey commented: "Despite the challenges with the Prezzo CVA and Frankie & Bennys covenant post marketing, this property attracted a number of competitive bids and we are delighted to have secured a strong exit price for our client. Both parties are very happy with the result."

Huntingdonshire District Council were represented by Clay Street.
[read more]

March 2019
CoStar : Investment League Tables

  • We were delighted to see Fawcett Mead recognised in CoStars latest investment league tables, 6th for Q4 and 10th for 2018 overall.
Thanks to all our clients, Fawcett Mead has advised on the sale and purchase of over £440,000,000 worth of retail and leisure assets across the UK in 2018. Despite the challenging market, we remain firmly committed to delivering on all our clients retail requirements for this year and next!
[read more]

February 2019
Investment Sale
Newbury : 72 Northbrook Street

  • Let to Oxfam until December 2022
  • Passing Rent: £35,500 per annum
  • Net Initial Yield: 6.78%
  • Price: £500,000
Acting on behalf of Savills Investment Management, Fawcett Mead has disposed of this retail investment to a private family trust. The purchase of £500,000 reflected a NIY of 6.78%. The property is let to Oxfam until December 2022.

Joe Baio commented, "We were delighted to successfully conclude the disposal of this prime shop in Newbury on behalf of our client, Savills IM."
[read more]

February 2019
Finalists : 2019 Property Awards

  • We are delighted to have been shortlisted for the Niche Agency Team of the Year in the 2019 Property Week awards. Good luck to all the finalists!

January 2019
Investment Sale
Swindon : Cavendish Square

  • Freehold supermarket and pharmacy investment
  • Passing Rent: £199,800 per annum
  • Net Initial Yield: 6.0%
  • Price: £3,127,000
Acting on behalf of CBRE Global Investors, Fawcett Mead has sold this retail investment to Swindon Borough Council. The purchase price of £3,127,000 reflected a NIY of 6%. The property is let to Mid Counties Co-op and Lloyds Pharmacy with a WAULT of 14 years.

Richard Bashford commented: "This property is located in a densely populated busy residential suburb and occupies a large site area. It attracted a strong level of interest and competitive bidding".

Swindon Borough Council was represented by Hartnell Taylor Cook.
[read more]

January 2019
Investment Sale
Brighton : 5-8 London Road

  • Prime, multi-let retail investment in affluent south east town
  • Passing Rent: £264,650 per annum
  • Net Initial Yield: 6.62%
  • Price: £3,750,000
Acting on behalf of Columbia Threadneedle, Fawcett Mead has sold this multi-let retail investment to a private investor. The purchase price of £3,750,000 reflected a net initial yield of 6.62%. The property is let to Iceland, Peacocks and Poundland with a WAULT of 3.75 years.

Richard Bashford commented: "This property is located in a very busy residential suburb, which has a large student population. It provides well-configured floorspace and is let to three discount and convenience retailers, who all appear to trade well."
[read more]

January 2019
Lease Extension
Stratford-upon-Avon, Darlington, Loughton and Slough

  • Fawcett Mead are pleased to complete lease extensions to Accessorize, Pizza Hut, Card Factory and Specsavers in Stratford-upon-Avon, Darlington, Loughton and Slough.

January 2019
Open Market Letting
Epping : 214-216 High Street

  • Fawcett Mead are pleased to complete on a new 10 year lease to Oxfam, on behalf of a private client.

January 2019
Open Market Letting
Doncaster : Spotborough Retail Park

  • Fawcett Mead are pleased to complete a new 10 year lease to Screwfix, on behalf of Atmore Group.

January 2019
Lease Extension
Newquay : 24-28 Bank Street

  • Acting on behalf of CBRE Global Investors, Fawcett Mead are pleased to have completed on a 5 year reversionary lease from February 2020 to Peacocks.

January 2019
Investment Acquisition
Lancaster : 26 Penny Street

  • Let to the strong covenant of Holland & Barrett with an unexpired term of 7 years
  • Passing Rent: £114,750 per annum
  • Net Initial Yield: 7.5%
  • Price: £1,442,000
Fawcett Mead have recently acted on the acquisition of this retail investment in Lancaster. The purchase price of £1,442,000 reflects a net initial yield of 7.5%. Joe Baio commented: "We are pleased to have acted on the successful acquisition of this 100% prime shop in Lancaster. Lancaster is a regionally dominant retail centre and this should prove an attractive long-term investment for our client." [read more]

January 2019
Investment Sale
Haywards Heath : 2-8 Sussex Road

  • High yielding, multi-let investment in affluent London commuter town
  • Passing Rent: £154,948 per annum
Fawcett Mead have recently acted on the sale of this retail investment in Haywards Heath. Joe Baio commented: "We were delighted to have advised Kennedy Wilson on the successful disposal of this freehold investment to a UK based property company. Both parties were pleased with the outcome." [read more]

January 2019
Investment Sale
Shirley, Southampton : 1/1D Park Street & 92 High Street

  • 25,140 sq ft of retail accommodation with 94% of income secured to Wilkinson Hardware Stores Ltd
  • Passing Rent: £172,500 per annum
  • Net Initial Yield: 8.12%
  • Price: £2,000,000
Fawcett Mead have recently acted on the sale of this retail investment in Shirley on behalf of Kennedy Wilson. The sale price of £2,000,000 reflects a net initial yield of 8.12%. Joe Baio commented: "We were very pleased to secure a strong price on behalf of our client. Both parties were delighted with the outcome." [read more]

January 2019
2019 : Sporting Calendar

Please follow the link above to view our Sporting Calendar for 2019 outlining some of the sporting highlights for the year ahead. The Australians are coming to defend the Ashes in the summer, hotly followed by the Cricket World Cup. Can Geraint Thomas defend his Tour de France title and will England be able to repeat their famous victory of 2003 in the Rugby World Cup….everything to play for in the year ahead. [read more]

December 2018
Open Market Letting
Bexleyheath : 131 Broadway

  • Fawcett Mead are pleased to complete a new 10 year lease to Muffin Break, on behalf of TH Real Estate.

December 2018
Lease Renewal
Keynsham : 65-67 High Street

  • Fawcett Mead were pleased to act on behalf of Card Factory to secure a new 5 year lease from completion.

December 2018
Investment Sale
Bracknell : Co-op, Sparrowhawk Way

  • New convenience store let to Co-op on a 15 year lease. Five yearly rent reviews to CPI with a collar and cap of 1 and 3% pa compounded.
  • Passing Rent: £94,000 per annum
  • Net Initial Yield: 5.00%
  • Price: £1,770,000
Fawcett Mead has recently acted on the sale of this new build convenience investment on behalf of a developer client. The property is situated in the centre of a major new residential development that has seen more than 1,300 homes completed in the last 10 years. The property was sold off market and the sale coincided with Practical Completion. The purchaser was represented by Christopher Dee. [read more]

December 2018
Retail Agency in 2018 : A look back

There has been plenty of cause for writing about the retail property market and particularly the difficulties within it, this year. We will not attempt to add to that here, but as we look back and take stock on the year, we were pleasantly surprised at how the list of things that we have been able to do shaped up. We thought we’d share that, partly to make ourselves feel better, partly to encourage a bit more optimism out there!

This year, we have helped our clients let shops to:
• Millets in Newquay
• Metrobank in Ashford
• Accessorize in Norwich
• Benugo in Wood Lane
• Cook in Bury St Edmunds and Loughton
• Co-op in Stanmore
• Muffin Break in Bexleyheath
• Card Factory in Street
• India Jane in Cheltenham
• A new flagship Wales Air Ambulance in
Cardiff
• IKEA in Bromley
• Oliver Bonas and Waterstones in Reigate

We’ve renewed or restructured leases with Body Shop, Specsavers, Accessorize, Pizza Hut, Barclays, WH Smith, HSBC, Poundland, O2, Trespass, Peacocks, CEX, Waterstones, Vision Express, The Works and TK Maxx.

And for tenants, we’ve helped Co-op to restructure leases, Card Factory to do likewise and acquire new stores and Loungers to open new restaurants.

We’re not immune to the nervousness looking ahead and we’re undoubtedly in a time of structural change, but we’ll keep looking for opportunities for our clients and doing our best to pull deals together. First though, after totting these up, we’ve decided there should still be a sherry at the FM Christmas bash!
[read more]

December 2018
Letting
Bromley : 156-160 High Street

  • Acting on behalf of Kennedy Wilson and jointly with Kearney Bell, Fawcett Mead has completed a letting of this property to Ikea.
This will be Ikea’s second high street store in the UK, following the successful opening of a store on Tottenham Court Road earlier this year. The Bromley store is scheduled to open in Spring 2019.

Ikea has taken a 10 year lease at £290,000 pa and the transaction involved the surrender of a lease to Mothercare.
[read more]

December 2018
Investment Acquisition
Clapham Junction : Shopstop

  • 2.3 acre mixed use site in the heart of Central London
  • Price: circa £137,000,000
Fawcett Mead have recently acted on behalf of DTZ Investors on the acquisition of this prime mixed-use investment in the heart of Central London.

Shopstop is formed of a site area of 2.3 acres and provides circa 74,500 sq ft of retail, leisure and office accommodation which benefits from being located at the main entrance to Clapham Junction railway station, Europe’s busiest railway interchange, with an estimated annual footfall of c. 31 million.

The property is 100% let to tenants including M&S Simply Food, Sainsbury’s, Monsoon, Superdrug and Fitness First. There is also office accommodation on the upper floors which is occupied by Moss Bros and acts as their UK headquarters. Over 20% of the current income is secured for over 10 years.

It is the first time that this property has been traded in the open market for 18 years. The acquisition of the strategically located 2.3 acre site offers numerous long-term opportunities, including inclusion in the area’s wider development plans, whilst being underwritten by the strong existing tenant line up and income profile.

Jonathan Mills commented: “We are delighted to have secured this acquisition for our client, DTZ Investors, against intense competition. Comprising a 2.3 acre, mixed use site in the heart of Central London, the property offers a multitude of asset management opportunities. The property represented a once in a generation opportunity to secure one of the most exciting repositioning projects in London.”
[read more]

November 2018
Investment Sale
Yeovil : Glovers Walk

  • Prominent shopping centre in the secondary retail pitch of Yeovil town centre
  • Price: £1,600,000
Fawcett Mead are pleased to have acted on the sale of this retail investment in Yeovil on behalf of an institutional client for a sale price of £1,600,000. Tom Heptonstall commented: "Our client is very pleased to have disposed of the assets as it is now too asset management intensive for the lot size and the overall size of the fund. The property has future development potential, which the purchaser will be able to benefit from in time". [read more]

November 2018
Investment Sale
Hounslow : 219/221 High Street

  • Prime retail and residential investment
  • Passing Rent: £165,000 per annum
  • Net Initial Yield: 5.95%
  • Price: £2,605,000
Fawcett Mead have recently acted on the sale of this prime retail and residential investment in the London borough of Hounslow, on behalf of an institutional client. The property comprises two self-contained residential units and a retail unit which is let to Sam 99p Limited. The sale price of £2,605,000 reflects a net initial yield of 5.95%. Tom Heptonstall commented: "We are delighted to have exceeded the quoting terms after a short targeted marketing campaign, we have a number of similar assets to sell so please get in touch if you have a requirement". [read more]

November 2018
Investment Acquisition
Bath : 12 Northgate Street and 9-11 Bridge Street

  • Mixed use retail, leisure, residential and office investment
  • Passing Rent: £378,900 per annum
  • Net Initial Yield: 5.50%
  • Price: £6,500,000
Fawcett Mead has recently acted for DTZ Investors on the purchase of this mixed use retail, leisure, residential and office investment in Bath city centre. The property was redeveloped in 2012 and is fully let to tenants including Joules, Turtle Bay and Cutler and Gross. It has a weighted average unexpired lease term of nearly 9 years. The purchase price of £6,500,000 reflected a net initial yield of circa 5.50%. Richard Bashford commented: "This investment provides a mix of uses and a strong income profile making it an attractive investment. Jones Lang LaSalle acted for the vendor." [read more]

November 2018
Open Market Letting
Bath : 2 Milsom Street

  • Helping the people of Bath and the South West with Christmas present ideas, Fawcett Mead were very pleased to agree a short lease to Finisterre on this prime shop, on behalf of a private investor.

October 2018
Open Market Letting
Newquay : 12-14 Bank Street

  • Fawcett Mead are pleased to complete a new 10 year lease, subject to tenant break at year 5, to Millets on behalf of a private investor.

October 2018
Investment Sale
Newbury : 13/15 Northbrook Street

  • 100% prime retail investment let to Wilko until 2025
  • Passing Rent: £295,000 per annum
  • Net Initial Yield: 6.50%
  • Price: £4,250,000
Fawcett Mead have recently acted on the sale of this prime retail investment in Newbury on behalf of CBREGI. The property occupies a 100% prime trading position and is let to Wilko until June 2025. The sale price of £4,250,000 reflects a net initial yield of 6.50%. Jonathan Mills commented: "We were delighted to conclude successfully the sale of this prime shop in Newbury on behalf of our client, CBREGI". [read more]

October 2018
Investment Sale
Bristol : 72-76 Broadmead

  • Two prime shops in Bristol
  • Passing Rent: £201,560 per annum
  • Net Initial Yield: 8.35%
  • Price: £2,710,000
Fawcett Mead has recently acted on the sale of this long leasehold retail investment in Bristol on behalf of CBRE Global Investors. The property is located in the prime retail pitch and benefits from significant footfall. The sale price of £2,710,000 reflected a net initial yield of 8.35%. [read more]

October 2018
Investment Sale
Worthing : 105-109 Montague Street

  • Prime retail investment in Worthing, West Sussex
  • Passing Rent: £140,000 per annum
  • Net Initial Yield: 9.43%
  • Price: £1,400,000
Fawcett Mead has recently acted on the sale of this retail investment in Worthing on behalf of Kennedy Wilson. The property is let to Poundland Ltd on a lease expiring in September 2019. The sale price of £1,400,000 reflects a net initial yield of 9.43%. Richard Bashford commented: "With Poundland relocating to a larger store, this was a redevelopment opportunity which is likely to include a mix of retail and residential". Prime Retail acted for the purchaser. [read more]

October 2018
Investment Sale
Romford : 105-111 South Street

  • Prime leisure investment in the busy London suburb of Romford
  • Passing Rent: £178,000 per annum
  • Net Initial Yield: 5.33%
  • Price: £3,145,000
Fawcett Mead have recently acted on the sale of this prime long-let leisure investment in Romford, Essex. The property is let to the strong covenant of Stonegate Pub Company Limited until March 2038. The sale price of £3,145,000 reflects a net initial yield of 5.33%. Tom Heptonstall commented: "We are delighted to have secured a strong exit price for our client after a "quiet" marketing campaign. Both parties were very pleased with the result." [read more]

October 2018
Investment Sale
Lowestoft : 110 London Road North

  • Well-located in the 100% prime retail pitch, let to Vision Express until 2021
  • Passing Rent: £35,000 per annum
  • Net Initial Yield: 6.75%
  • Price: £485,000
Fawcett Mead has recently acted on the sale of this prime retail investment in Lowestoft, Aitken Retail acted for the purchaser who was a private investor. The property is let to Vision Express until 2021. The sale price of £485,000 reflects a net initial yield of 6.75%. [read more]

September 2018
Lease Renewal
Crawley : 7 The Martlets

  • Fawcett Mead advised Kames Capital in completing a new 5 year lease to Telefonica UK Ltd, trading as O2.

September 2018
Investment Sale
M&Co Portfolio : 9 retail properties

  • Passing Rent: £407,500 per annum
  • Price: £4,109,000
Acting jointly with Acuitis, Fawcett Mead have sold 9 M&Co stores on a sale and leaseback basis. The stores in Wootton Bassett, Barnard Castle, Gosport, Cosham, Whitehaven, Trowbridge, Houghton Le Spring, Chester le Street and Ashington produced a total rent of £407,500. The total sale price was £4,109,000. Graham Fawcett commented: "We were delighted with this sale and it shows that rack rented assets sell well in the current market if they are priced correctly". The purchasers were private investors. [read more]

August 2018
Lease Renewal
Plymouth : 28 New George Street

  • Acting on behalf of CBRE Global Investors, Fawcett Mead are pleased to complete a new 5 year lease to Johar Ltd, trading as Body Shop.

August 2018
Restaurant Acquisition
Newton Abbot : 30 Queen Street

  • Fawcett Mead were delighted to act on behalf of Loungers to acquire 30 Queen Street, now trading as Orsino Lounge, in an off market transaction, on a new 15 year lease, subject to Tenant option to break at year 10.

August 2018
Open Market Letting
Cheltenham : 2 Little Promenade

  • Acting on behalf of Kennedy Wilson, Fawcett Mead have completed a new letting to furnishing and interiors company India Jane, at a rent of £80,000 per annum.

August 2018
Investment Sale
York : 22-23 Parliament Street

  • Prime retail investment let to Boots Opticians until 2022
  • Passing Rent: £130,000 per annum
  • Net Initial Yield: 6.00%
  • Price: £2,038,000
Fawcett Mead have recently acted on the sale of this prime retail investment in York on behalf of a private investor. The property is let to Boots Opticians Ltd until 2022. The sale price of £2,038,000 reflects a net initial yield of 6.00%. Graham Fawcett commented: “We sold this property off-market and both parties were delighted with the result". [read more]

August 2018
Investment Sale
Bury St Edmunds : 27, 27A & 28 Buttermarket

  • Prime retail investment in highly affluent market town
  • Passing Rent: £176,000 per annum
  • Net Initial Yield: 8.90%
  • Price: £1,850,000
Fawcett Mead have recently acted on behalf of M&G Real Estate on the sale of this prime retail investment in Bury St Edmunds. 61% of the income is secured to AG Retail Cards Ltd (t/a Clintons) until December 2022. The sale price of £1,850,000 reflects a net initial yield of 8.90%. Jonathan Mills commented: "Having completed the asset management programme for our clients, M&G Real Estate, we were pleased to conclude the successful sale of this investment". [read more]

August 2018
Investment Sale
Truro : 93-94 Pydar Street

  • Prime retail investment let to Boots on a new 10-year lease
  • Passing Rent: £275,000 per annum
  • Net Initial Yield: 5.83%
  • Price: £4,425,000
Fawcett Mead has recently acted on the sale of this prime retail investment in Truro on behalf of CBRE Global Investors. The purchaser, a local authority, was represented by Cushman and Wakefield. The property is let to the Boots UK Limited on a 10 year lease from June 2017. The sale price of £4,425,000 reflects a net initial yield of 5.83%. Richard Bashford commented: "This is a prime, well configured shop which was let on a recently renewed lease. These factors made it an attractive investment, leading to a good level of demand and we are pleased with the price achieved". [read more]

August 2018
Investment Sale
Truro : 1 St Nicholas Street

  • Prime retail investment in dominant regional centre
  • Passing Rent: £72,500 per annum
  • Net Initial Yield: 6.50%
  • Price: £1,055,000
Fawcett Mead have recently acted on the sale of this prime retail investment in Truro on behalf of Kennedy Wilson. The buyer was a private investor. The property is let to Monsoon Accessorize Ltd until May 2023. Craig Cawthorne commented: "Truro is a regionally dominant retail centre with a loyal catchment, boosted by seasonal tourism. This shop sits in the very centre of the retail pitch and should prove an attractive long term investment". [read more]

August 2018
Investment Acquistion
London, Hammersmith : 49-63 King Street

  • Let to TK Maxx and Poundland
  • Passing Rent: £1,165,000 per annum
  • Net Initial Yield: 5.10%
  • Price: £21,400,000
Fawcett Mead has recently acted for PATRIZIA Immobilien AG on the acquisition of a flagship retail property at 49-63 King Street in Hammersmith, London, for EUR £21.4 million for one of their pan-European retail-focused funds.

This latest acquisition, the fund’s first in the UK, follows the fund’s strategy of investing in selected retail sectors.

The property comprises 62,430 sq ft of lettable space, split between two fully occupied units over basement, ground and two upper floors. The two tenants, TK Maxx and Poundland, have a remaining average lease term of 13.6 years. King Street is the prime shopping zone within the Borough of Hammersmith, situated in West London and just 10 minutes from Heathrow Airport.

KLM Retail and Cushman & Wakefield acted on behalf of the vendor.
[read more]

August 2018
Investment Sale
Barnstaple : 75 High Street

  • Prime retail investment let to Costa Ltd on a new 10 year lease
  • Passing Rent: £73,069 per annum
  • Net Initial Yield: 5.75%
  • Price: £1,200,000
Fawcett Mead have recently acted on the sale of this prime retail investment in Barnstaple, the seller and buyer were both private investors and Ocklestone Bailey acted for the buyer. The property is let to the excellent covenant of Costa Ltd on a new 10-year lease (TBO 6 years). Richard Bashford commented: "Barnstaple is a strong retail centre with a loyal catchment. This shop is in the prime retail pitch and the lease to Costa Coffee had recently been renewed making it a very attractive investment". [read more]

August 2018
Investment Sale
Bristol : 44/46 Queens Road

  • Prime retail and student residential investment in Bristol
  • Price: £3,350,000
Fawcett Mead are pleased to have acted for CBRE Global Investors on the sale of this retail investment and student residential in Clifton, Bristol, for £3,350,000.

Richard Bashford commented: "The location of this property, so close to the main Bristol University buildings and in a strong retail pitch, led to a high level of demand and we were pleased to achieve a sum in excess of the asking price."

The purchaser was represented by D J Foley Property Consultants.
[read more]

July 2018
Investment Sale
Isle of Wight : M&S Simply Food, Terminus Road, Cowes

  • Freehold town centre food store with annually received RPI linked income until 2035
  • Passing Rent: £188,803 per annum
  • Net Initial Yield: 4.50%
  • Price: £3,940,000
Fawcett Mead are pleased to have acted on the sale of this prime retail investment in Cowes, Isle of Wight. It is let to the excellent covenant of Marks and Spencer Food Ltd until May 2035. A sale price of £3,940,000 reflects a net initial yield of 4.50%. Jonathan Mills commented: "Food store index linked income is continuing to prove attractive to investors and we are delighted to have completed this sale for our clients, London Metric Plc". [read more]

July 2018
Investment Sale
Penrith : M&S Simply Food, 22-24 King Street

  • Freehold town centre food store with annually index linked income.
  • Passing Rent: £313,303 per annum
  • Net Initial Yield: 4.37%
  • Price: £6,720,000
Fawcett Mead are pleased to have acted on the sale of this prime retail investment in Penrith, which is well let to Marks and Spencer Food Ltd. A sale price of £6,720,000 reflects a net initial yield of 4.37%. Jonathan Mills commented: “Food store index linked income is continuing to prove attractive to investors and we are delighted to have completed this sale for our clients, London Metric Plc”. [read more]

July 2018
Open Market Letting
Imperial College London : White City Campus Boasts Benugo

  • Fawcett Mead has completed a letting to Benugo for a 3,000 sq ft unit on the Ground Floor of The Translation and Innovation Hub. The building forms part of a multi-million-pound development of The White City Campus, Imperial College London.

July 2018
Investment Sale
Crewe : 25-29 Victoria Street & Unit 3 Victoria Shopping Centre

  • High-yielding retail investment in prime pitch, tenants include Holland & Barrett and Ryman
  • Passing Rent: £70,250 per annum
  • Net Initial Yield: 10.00%
  • Price: £667,000
Fawcett Mead are pleased to have acted on the sale of this high yielding retail investment in Crewe. The property comprises three shops, well-let to three extremely strong covenants including Holland & Barrett and Ryman. The sale price of £667,000 reflected a net initial yield of 10.00%. [read more]

July 2018
Investment Acquistion
Guildford : 115 High Street

  • Prime shop let to LK Bennett on a lease expiring in January 2026
  • Passing Rent: £285,000 per annum
  • Net Initial Yield: 4.50%
  • Price: £6,000,000
Fawcett Mead are pleased to have acted on the acquisition of this prime shop in Guildford on behalf of Columbia Threadneedle. The purchase price of £6,000,000 reflects a net initial yield of 4.50%. Richard Bashford commented: "This is one of the best shops in Guildford, one of the strongest retail centres in the UK and we were pleased to have secured the investment for our client in an off-market transaction". The vendor, Lothbury Investment Management, was represented by KLM Retail. [read more]

July 2018
Investment Sale
Cheltenham : 91-97 High Street

  • Two well-configured retail units let to Argos Ltd and Superdrug Plc
  • Passing Rent: £190,000 per annum
  • Net Initial Yield: 6.30%
  • Price: £2,850,000
Fawcett Mead are pleased to have acted for CBRE Global Investors on the sale of this prime retail investment in Cheltenham, which was bought by a private investor client of GCW. The property comprises of two well-configured retail units, let to Argos Ltd on a lease expiring in August 2022, with a co-terminus sub-lease to Superdrug stores Plc. The sale price of £2,850,000 reflected a net initial yield of 6.30%. Richard Bashford commented: "This pitch is set to improve substantially when John Lewis open their new department store nearby later this year. In addition, Cheltenham Borough Council is planning to undertake improvements to the pedestrianised area on this section of High Street." [read more]

July 2018
Investment Acquisition
Harrogate : Oakdale Place

  • 6.5 acre site in central Harrogate, let to David Lloyd Leisure Health Club on a new 35-year lease with RPI uplifts
  • Net Initial Yield: 3.40%
  • Price: £6,500,000
Fawcett Mead has acquired this prime leisure investment in Harrogate on behalf of an institutional client. The property has recently been let to David Lloyd Leisure Health Club on a new 35-year lease and offers a low rent of £3.60 per sq ft. The purchase price of £6,500,000 reflects a net initial yield of 3.40%. Tom Heptonstall commented: “We are delighted to have secured this prime long income investment in one of the UK’s top towns in an “off market” transaction. The property is let off a very low rent and is well underpinned by the land value " [read more]

July 2018
Investment Acquistion
Bath : 1 Milsom Street

  • Let to Kiehls on a lease expiring in 2024.
  • Net Initial Yield: 4.32%
  • Price: £1,800,000
Fawcett Mead has acquired this prime retail investment in Bath on behalf of a private investor client.

The property is let to Kiehls on a lease expiring in 2024. The property is situated in a prime corner position on the junction of Milsom Street and Quiet Street in the heart of Bath’s central shopping centre.

The purchase price of £1.8 million reflects a net initial yield of 4.32%.
[read more]

July 2018
Investment Acquistion
Chichester : 19/20 East Street

  • Let to Joules Ltd
  • Passing Rent: £190,000 per annum
  • Net Initial Yield: 4.00%
  • Price: £4,450,000
Fawcett Mead has acquired this prime retail investment in Bath on behalf of a private investor client. The property has recently been let to Joules Ltd on a new 10-year lease. The purchase price of £4.45 million reflects a net initial yield of circa 4%. Smith Price acted for the vendor. [read more]

July 2018
Investment Sale
Zurich Portfolio : 22 Retail Properties

Fawcett Mead are delighted to have advised Columbia Threadneedle on the disposal of 22 retail properties throughout the UK with towns including Sheffield, Yeovil, Bognor Regis and Lichfield. The properties were let to a range of retailers on varying lease lengths. For more information please call Tom Heptonstall or Jonathan Mills. [read more]

July 2018
Investment Sale
Bury St Edmunds : 35 Cornhill

  • Let to Nero Holdings Ltd until June 2027, without break
  • Passing Rent: £80,000 per annum
  • Net Initial Yield: 4.59%
  • Price: £1,640,000
Fawcett Mead have acted on behalf of Legal & General on the sale of this prime retail unit in Bury St Edmunds. The property had recently been let by Fawcett Mead to Caffe Nero on a new 10-year lease without break. Tom Heptonstall commented: "We were pleased to be able to create a competitive bidding situation which enabled us to maximise the pricing for our client for this attractive investment". [read more]

May 2018
Investment Acquistion
Plymouth : Derrys Cross Leisure

  • Passing Rent: £888,431
  • Net Initial Yield: 5.20%
  • Price: £17,250,000
Fawcett Mead has recently acted on behalf of Plymouth City Council on the purchase of this freehold city centre leisure investment. The property comprises a Travelodge Hotel, a gym and four restaurants/bars. The purchase price of £17.25 million reflected a NIY of 5.20%.

The property has a WAULT of 17.45 years and 70% of the income is subject to indexed or fixed rental increases. Richard Bashford commented: “We were very pleased to secure this investment property on behalf of Plymouth City Council on an off market basis”.
[read more]

May 2018
Investment Sale
Kingston : 1 Church Street and 23 Market Place

  • Recently let on a new 15 year lease
  • Passing Rent: £210,000 per annnum
  • Net Initial Yield: 3.80%
  • Price: £5,150,000
Fawcett Mead has recently acted on behalf of Legal & General Real Assets on the sale of this prime retail investment in Kingston. The property had recently been let to Pret a Manger on a new 15-year lease and the sale price of £5.15 million reflects a NIY of 3.80%.
Richard Bashford commented: "This is an extremely attractive retail investment which generated strong demand and competitive bidding."
[read more]

May 2018
Letting
Kingston : 30 Market Place

  • Fawcett Mead have recently completed a letting to Pierre Rene in Kingston on behalf of a private individual. They have signed a new 10-year lease, at £62,500 pax.

May 2018
Investment Acquistion
Winchmore Hil : Green Dragon

  • Let to Waitrose Ltd on a new 15 year lease
  • Passing Rent: £243,000 per annum
  • Net Initial Yield: 4.36%
  • Price: £6,105,000
Fawcett Mead are pleased to have advised an institutional client on the acquisition of the above Little Waitrose, which is subject to five yearly RPI uplifts collar and capped at 2%-4% and benefits from 26 car parking spaces. The upper parts consist of two residential flat, which were bought on a per square foot rate. Tom Heptonstall commented “We are delighted to secure this off market investment, which is let to the highly desirable covenant of Waitrose, with RPI linked uplifts and car parking in North London”. [read more]

May 2018
Fawcett Mead
Nick Carvey is promoted to Associate Director :

  • Having worked at Fawcett Mead for just under 4 years, we are pleased to announce that Nick Carvey has been promoted to Associate Director.
Nick joined the company in August 2014 and currently works in both the agency and investment teams, focusing on acquisitions and disposals. His clients include Schroders, CBREgi, Kennedy Wilson and TH Real Estate.



[read more]

April 2018
Investment Acquistion
Glasgow : 130-140 Buchanan Street & 30-40 St Vincent Place

  • 100% prime retail block and adjoining office building
  • Price: £27,000,000
On behalf of Redevco, Fawcett Mead are pleased to have acted on the off-market, simultaneous acquisition of this prime retail and adjoining office block investment in Glasgow. The retail units are let to the strong national covenants of Starbucks and Edinburgh Woollen Mill whilst the adjoining office building comprising 50,000 sq ft is let in its entirety to the 5A1 covenant of Clydesdale Bank Plc with RPI linked rental uplifts until 2024. The combined acquisition price of £27,000,000 reflects a blended net initial yield circa 4.75%. Jonathan Mills commented: "We are pleased to have simultaneously secured these two properties for our clients Redevco, which adds to their substantial ownership in central Glasgow." [read more]

April 2018
Investment Sale
Okehampton : Co-op, Market Street

  • Passing Rent: £215,000
  • Net Initial Yield: 6.0%
  • Price: £3,365,000
Fawcett Mead has recently advised on a lease re-gear and subsequent investment sale of this supermarket investment, which was let to Co-op for a term of 10 years. The property was sold on behalf of Kennedy Wilson to West Devon District Council, and the price of £3,365,000 reflected a NIY of 6%. Savills advised West Devon District Council.

Richard Bashford commented: “After working with the occupational tenant to re-gear the lease and complete their asset management plan, our client was very pleased with the price achieved on this investment sale."
[read more]

April 2018
Investment Acquistion
Reading : 51 Broad Street

  • 100% prime retail parade
  • Net Initial Yield: £8,260,000
  • Price: 4.8%
On behalf of Columbia Threadneedle, Fawcett Mead are pleased to have acted on the acquisition of this 100% prime retail parade in Reading. Approximately 84% of the income is secured to minimum risk 5A1 covenants including Nationwide and Holland & Barrett, with a WAULT to expiry of 12.27 years. The acquisition price of £8,260,000 reflects a net initial yield of 4.8%. Jonathan Mills commented: "We are pleased to secure off-market this 100% prime retail parade for our clients Columbia Threadneedle, which completed their ownership of a substantial retail parade on Broad Street and now comprises one of the strongest UK high street ownerships." [read more]

April 2018
Investment Acquistion
Reading : 50 Broad Street

  • 100% prime retailing location on Broad Street
  • Net Initial Yield: 5.0%
  • Price: £3,200,000
On behalf of Columbia Threadneedle, Fawcett Mead are pleased to have acted on the acquisition of this 100% prime retail investment in Reading. The unit is let to the strong national covenant of Hotter Shoes on a 10-year lease expiring in 2025. The acquisition price of £3,200,000 reflects a net initial yield of 5.0%. Jonathan Mills commented: "We were pleased to secure this 100% prime unit for our clients Columbia Threadneedle, which completes their ownership of a substantial retail parade on Broad Street and now comprises one of the strongest UK high street ownerships." [read more]

April 2018
Investment Sale
Welwyn Garden City : 35-47 Howardsgate

  • Prominent, fully-let parade of 7 units
  • Passing Rent: £293,515 per annum
  • Net Initial Yield: 7.34%
  • Price: £3,750,000
Fawcett Mead are pleased to have acted on the sale of this 100% prime retail investment in Welwyn Garden City. The property comprises a fully-let retail parade comprising seven well configured units. Tenants include Halfords, CEX, Martin McColl and Scrivens. A sale price of £3,750,000 reflects a net initial yield of 7.00%. [read more]

April 2018
Investment Sale
Woodley : 81/109 Crockhamwell Road

  • Passing Rent: £499,341 per annum
  • Net Initial Yield: 7.0%
  • Price: £6,900,000
Fawcett Mead are pleased to have acted on the sale of this secure retail investment with significant development potential in Woodley. It is let to excellent covenants including Iceland Foods Ltd, Boots UK Ltd and Santander. A sale price of £6,900,000 reflects a net initial yield of 7.0%.

Tom Heptonstall commented: “We are delighted to have acted on behalf of Schroders in the disposal of the subject property. We managed to achieve a strong price after quiet “off-market” marketing, which worked with our clients objectives.”
[read more]

March 2018
Investment Acquistion
Streatham : 350-372 High Street

  • Let to Aldi Stores Ltd, Marks and Spencer Plc and The Gym Ltd
  • Passing Rent: £994,352 per annum
  • Net Initial Yield: 4.00%
  • Price: £23,300,000
Fawcett Mead recently advised LaSalle Investment Management in the off-market acquisition of the above property. The property was multi-let to Aldi Stores Ltd on a 20-year lease, without break, with 5 yearly RPI linked rent reviews with a collar and cap at 1.75%-3.75%, Marks and Spencer Plc on a 20-year lease, without break, subject to 5 yearly RPI linked rent reviews with a collar and cap at 1%-4% and The Gym Ltd on a 20-year lease without break, subject to 5 yearly RPI linked rent reviews with a collar and cap at 2%-4%. The property also benefits from c.80 car parking spaces, which are shared between the tenants. Tom Heptonstall commented, “We are delighted to have secured this highly desirable institutional asset direct from the developer in a competitive market for long secure income with RPI uplifts.” [read more]

March 2018
Investment Sale
Walsall : Victorian Arcade, Bradford Street

  • Attractive Victorian arcade located on the pedestriansed pitch
  • Passing Rent: £400,398 per annum
  • Net Initial Yield: 9.10%
  • Price: £4,125,000
Fawcett Mead are pleased to have acted on the sale of this high-yielding retail arcade in Walsall. A sale price of £4,125,000 reflects a net initial yield of 9.10%. Tom Heptonstall commented: "We are pleased to have acted on the sale of this challenging high-yielding retail arcade in Walsall. The property comprises an attractive Victorian Arcade with asset management angles for the purchaser to pursue". [read more]

March 2018
Investment Sale
Exmouth : 26-46 Chapel Street

  • 7 well-configured retail units
  • Net Initial Yield: 8.0%
  • Price: £4,135,000
Fawcett Mead are pleased to have acted on the sale of this 100% prime retail parade in Exmouth. The purchaser, a private investor, was represented by Savills. Tenants include Superdrug, Costa, Shoe Zone, Burton/Dorothy Perkins, Mountain Warehouse and Caffè Nero. The sale price of £4,135,000 reflects a net initial yield of 8.0%.

Richard Bashford commented: "This is a rare unbroken parade of seven shops in an attractive town and the majority of the rents had been rebased. It attracted a good level of interest and we were pleased to exceed the asking price."
[read more]

March 2018
Investment Acquistion
Crawley : 1-21 The Martlets

  • 10 well-configured retail units
  • Passing Rent: £1,352,100 per annum
  • Net Initial Yield: 7.53%
  • Price: £18,000,000
Acting on behalf of Kames Capital, Fawcett Mead are delighted to have acted on the acquisition of this 100% prime retail parade in Crawley. Tenants include H&M, Topshop, Sports Direct, NCP and EE, with a WAULT until expiry of circa 6 years. The acquisition price of £18,000,000 reflects a net initial yield of 7.53%.

Jonathan Mills commented: "We are delighted to have secured this attractive investment proposition for our clients, Kames Capital. The property comprises a 100% prime retail parade, let to very strong covenants and offers a number of interesting asset management opportunities for our clients."
[read more]

February 2018
Letting
Bishops Stortford : 14-16 South Street

Fawcett Mead have recently completed a letting to Nationwide on behalf of Columbia Threadneedle. They have signed a new 10 year lease, at £50,000 pax. Nick Carvey commented, “Despite some challenging times for some of Nationwide’s competitors, this deal shows that there is still demand from A2 operators for market towns across the country.” [read more]

February 2018
Investment Sale
Whitstable : Unit 1, 134 Cromwell Road

  • Let to the Southern Co-Operative Ltd on a new 15 year lease
  • Passing Rent: £80,000 per annum
  • Net Initial Yield: 5.38%
  • Price: £1,400,000
Fawcett Mead are pleased to have acted on the sale of this prime retail investment in Whitstable. The property is let to the Southern Co-Operative Ltd on a new 15 year lease without breaks. A sale price of £1,400,000 reflects a net initial yield of 5.38%. [read more]

February 2018
Investment Sale
Shipley : Market Street

  • Let to Co-Operative Group Ltd
  • Passing Rent: £48,200 per annum
  • Net Initial Yield: 6.79%
  • Price: £675,000
Fawcett Mead are pleased to have acted alongside Acuitus on the sale of this long let retail investment in Shipley on behalf of Kennedy Wilson. A sale price of £675,000 reflects a net initial yield of 6.79%. [read more]

February 2018
Investment Sale
Newquay : 10-10a Bank Street

  • Let to Holland & Barrett Retail Ltd until 2027
  • Passing Rent: £59,000 per annum
  • Net Initial Yield: 6.90%
  • Price: £810,000
Fawcett Mead are pleased to have acted on the sale of this prime retail investment in Newquay. The property is let to Holland & Barrett Retail Ltd until 2027. A sale price of £810,000 reflects a net initial yield of 6.90%%. [read more]

February 2018
Investment Sale
Newcastle-Under-Lyme : 1-2 Castle Walk

  • Let to New Look until 2022
  • Passing Rent: £130,000 per annum
  • Net Initial Yield: 8.50%
  • Price: £1,440,000
Fawcett Mead are pleased to have acted on the sale of this prime retail investment in Newcastle-Under-Lyme. The property is let to New Look Retailers Ltd until 2022. A purchase price of £1,440,000 reflects a net initial yield of 8.50%. [read more]

February 2018
Investment Sale
Harlow : 32 Broadwalk

  • Let to WH Smith on a new 5 year lease
  • Passing Rent: £100,750 per annum
  • Net Initial Yield: 7.35%
  • Price: £1,295,000
Fawcett Mead are pleased to have acted on the sale of this 100% prime retail investment in Harlow. The property is let to WH Smith on a new five year lease. A purchase price of £1,295,000 reflects a net initial yield of 7.35%. [read more]

February 2018
Letting
Bury St Edmunds : 93 St Johns Street

  • Fawcett Mead have agreed on an off-market letting to COOK in the former Greenwoods store in Bury St Edmunds. This is an excellent result and reinforces the strength and appeal of Bury St Edmunds.

February 2018
Letting
Stanmore : Unit 12 Buckingham Parade

  • Fawcett Mead, acting for Aprirose REI, have recently agreed on an off-market letting to Co-Op Funeralcare in Stanmore. This follows a number of new lettings and subsequently leaves the parade fully occupied.

January 2018
Letting
St Neots : Unit 4 Rowley Arts Centre

Fawcett Mead are pleased to have completed the final letting in Rowley Arts Centre, St Neots, to Gainz Fitness. The gym operator will be a great addition to the tenant mix of the scheme, which also accommodates Pizza Express, Prezzo, Frankie & Bennys and Cineworld. [read more]

January 2018
Investment Sale
St Austell : 23/23a Fore Street

  • Let to Poundland Ltd until May 2025
  • Passing Rent: £165,000 per annum
  • Net Initial Yield: 8.36%
  • Price: £1,800,000
Fawcett Mead are pleased to have acted on the sale of this prime retail investment in St Austell on behalf of CBRE Global Investors. The property is let to Poundland Ltd until May 2025. A sale price of £1,940,000 reflects a net initial yield of 8.00%. [read more]

January 2018
Investment Sale
Newquay : 10 Bank Street

  • Let to Holland & Barrett and a hairdressing salon
  • Passing Rent: £59,000 per annum
  • Net Initial Yield: 6.90%
  • Price: £810,000
Fawcett Mead are pleased to have acted on behalf of a private investor to relet the former Store Twenty One and complete on a subsequent sale of this prime retail investment in Newquay. A purchase price of £810,000 reflects a net initial yield of 6.90%. [read more]

January 2018
Investment Sale
Weymouth : 11-12 St Mary Street

  • Let to Bonmarche Ltd and Yours Clothing Ltd
  • Passing Rent: £134,500 per annum
  • Net Initial Yield: 7.25%
  • Price: £1,740,000
Fawcett Mead are pleased to have acted on the sale of this prime retail investment in Weymouth. A purchase price of £1,740,000 reflects a net initial yield of 7.25%. [read more]

January 2018
Investment Sale
Bournemouth : 28-34 Old Christchurch Road

  • Tenants include Ernest Jones, Holland & Barrett, Loungers and Waterstones
  • Passing Rent: £363,750 per annum
  • Net Initial Yield: 7.00%
  • Price: £4,875,000
Fawcett Mead are pleased to have acted on the sale of this prime retail investment in Bournemouth. The sale price of £4,875,000 reflects a net initial yield of 7.00%.
Jonathan Mills commented: "We were delighted to have acted on this sale for LaSalle, where we were able to generate a competitive bidding situation and sell to an institutional purchaser".
[read more]

January 2018
Investment Acquistion
Chatham : 184 - 190 High Street

  • Let to Primark for a term expiring in August 2029
  • Passing Rent: £275,000
  • Net Initial Yield: 5.50%
  • Price: £4,695,000
Fawcett Mead are pleased to have acted on the acquisition of 184-190 High Street, Chatham. A purchase price of £4,695,000 reflects a net initial yield of 5.50%. [read more]

January 2018
Investment Sale
Barnstaple : 72 High Street

  • New 10 year lease to JD Sports
  • Passing Rent: £120,000 per annum
  • Net Initial Yield: 5.82%
  • Price: £1,940,000
Fawcett Mead are pleased to have acted on the sale of this prime retail investment in Barnstable. The sale price of £1,940,000 reflects a net initial yield of 5.82%. [read more]

December 2017
Investment Sale
Cardiff : 4 Station Road

  • Let to The Co-Op Food Group on a new 15 year term
  • Passing Rent: £60,000 per annum
  • Net Initial Yield: 5.40%
  • Price: £1,050,000
Fawcett Mead are pleased to have acted on the sale of this convenience store located in the Radyr area of Cardiff. The property is let to The Co-Operative Food Group Limited for a term of fifteen years. Joe Baio commented "We are delighted to have completed the sale of this well-let convenience store in Cardiff at an attractive price for our client." [read more]

December 2017
Investment Sale
Doncaster : 41-45 St Sepulchre Gate

  • Sublet to Caffé Nero and Greenwoods
  • Passing Rent: £68,700 per annum
  • Net Initial Yield: 5.18%
  • Price: £1,250,000
Fawcett Mead are pleased to have acted on the sale of this prime retail investment in Doncaster, on behalf of Kennedy Wilson. The property is let to Oxfam on a FRI lease expiring in March 2071. A sale price of £1,250,000 reflects a net initial yield of 5.18%. [read more]

December 2017
Investment Sale
Sutton : Store B, St Nicholas Centre

  • Let to SportsDirect.com Retail Ltd until 2025
  • Passing Rent: £145,000 per annum
  • Net Initial Yield: 9.10%
  • Price: £1,500,000
Fawcett Mead are pleased to have acted on the sale of Store B, St Nicholas Centre in Chatham. A purchase price of £1,500,000 reflects a net initial yield of 9.10%. [read more]

December 2017
Investment Sale
Yeovil : 88-92 Middle Street

  • Let to Wilko Retail Ltd until April 2025
  • Passing Rent: £435,000 per annum
  • Net Initial Yield: 9.95%
  • Price: £4,100,000
Fawcett Mead are pleased to have acted on the sale of 88-92 Middle Street, Yeovil. The property is let in its entirety to Wilko Retail Limited on a 20 year, FRI lease. A purchase price of £4,100,000 reflects a net initial yield of 9.95%, assuming purchasers costs of 6.54%. [read more]

December 2017
Investment Acquistion
Darlington : 3-11 Northgate Street

  • Prime location on Northgate Street
  • Passing Rent: £108,000 per annum
  • Net Initial Yield: 9.00%
  • Price: £1,130,000
Fawcett Mead are pleased to have acted on the acquisition of 3-11 Northgate Street, Darlington on behalf of a private client. The unit is let to Novomatic UK Limited on a new ten year unbroken lease. A purchase price of £1,130,000 reflects a net initial yield of 9.03% assuming purchasers costs of 5.87%. [read more]

November 2017
Investment Sale
Cheshire Oaks : Cheshire Oaks Leisure Park

  • Prime out-of-town leisure opportunity
  • Passing Rent: £371,931 per annum
  • Net Initial Yield: 5.25%
  • Price: £6,630,000
Fawcett Mead are delighted to have acted on the sale of Cheshire Oaks Leisure Park on behalf of Lateral Property. The well-let leisure park is located in a prominent gateway site adjacent to the entrance of Cheshire Oaks Designer Outlet. The property provides a WAULT of 17 years and tenants include KFC, TGI Fridays and Costa Coffee. A purchase price of £6,630,000 reflects a net initial yield of 5.25%, assuming purchasers costs of 6.64%. [read more]

October 2017
Investment Sale
Yeovil : 21 Middle Street

  • New 5 year lease to Shoe Zone Ltd
  • Passing Rent: £38,500 per annum
  • Net Initial Yield: 7.82%
  • Price: £471,000
Fawcett Mead are pleased to have acted on the sale of this 100% prime retail investment in Yeovil. The property is let to Shoe Zone Ltd on a new five year lease expiring in 2022. A purchase price of £471,000 reflects a net initial yield of 7.82%, assuming purchasers costs of 4.57%. [read more]

October 2017
Investment Sale
Whitehaven : 64-65 King Street

  • Prime retail investment let to Burton
  • Passing Rent: £56,860 per annum
  • Net Initial Yield: 11.70%
  • Price: £465,000
Fawcett Mead are pleased to have acted on the sale of this prime retail investment in Whitehaven. The property is let to Burton / Dorothy Perkins Properties Limited on a ten year lease from January 2011. A sale price of £465,000 reflects an attractive net initial yield of 11.70%. [read more]

October 2017
Investment Sale
Manchester : 15-15A Corporation Street

  • Property forms part of the Arndale shopping centre
  • Passing Rent: £235,000 per annum
  • Net Initial Yield: 6.85%
  • Price: £3,220,000
Fawcett Mead are pleased to have acted on the sale of this secure retail investment in a prominent location on Corporation Street for a major UK institution. The property is let to Pizza Hut Ltd and Second Cup and is opposite Marks and Spencer and Selfridges. A sale of £3,270,000 reflects a net initial yield of 6.75%. [read more]

October 2017
Investment Sale
Chelmsford : 26 High Street

  • Let to The Royal Bank of Scotland PLC until Aug 2025
  • Passing Rent: £210,000 per annum
  • Net Initial Yield: 5.09%
  • Price: £3,875,000
Fawcett Mead are delighted to have acted on the sale of this 100% prime pedestrianised trading position on the high street of Chelmsford. The property is let to The Royal Bank of Scotland PLC until August 2025. A sale price of £3,875,000 reflects a net initial yield of 5.09%. [read more]

October 2017
Investment Sale
Skewen : 42-43 New Road

  • Let to One Stop Stores Limited
  • Passing Rent: £31,500 per annum
  • Net Initial Yield: 9.21%
  • Price: £330,000
Fawcett Mead are pleased to have acted on the sale of this high-yielding retail investment in Skewen. The property is let to One Stop Stores Limited with a lease expiry in August 2022. A sale price of £330,000 reflects a net initial yield of 9.21%. [read more]

October 2017
Investment Sale
Lichfield : 20 Conduit Street

  • Let to Fat Face Ltd
  • Passing Rent: £65,000 per annum
  • Net Initial Yield: 6.00%
  • Price: £1,025,000
Fawcett Mead are pleased to have acted on the sale of a highly attractive unit in the affluent cathedral city of Lichfield. The property is let to Fat Face Limited on a FRI lease expiring in 2023. The sale price of £1,025,000 reflects a net initial yield of 6.00%. [read more]

October 2017
Investment Sale
Chatham : 184-190 High Street

  • Let to Primark Stores Limited until August 2029
  • Passing Rent: £275,000 per annum
  • Net Initial Yield: 5.36%
  • Price: £4,814,000
Fawcett Mead are delighted to have acted on the sale of this 100% prime retail investment in Chatham on behalf of CBRE Global Investors. The property is let to the excellent covenant of Primark Stores Ltd until August 2029 with no breaks. A sale price of £4,814,000 reflects a net initial yield of 5.36%. [read more]

October 2017
Investment Sale
Bury St Edmunds : 25-26 Buttermarket

  • Let to Holland & Barrett and Shoe Zone
  • Passing Rent: £165,000 per annum
  • Net Initial Yield: 7.05%
  • Price: £2,200,000
Fawcett Mead are pleased to have acted on the sale of this prime retail investment in the attractive market town of Bury St Edmunds for Kennedy Wilson. The property is let to Holland & Barrett and Shoe Zone. A sale price of £2,200,000 reflects a net initial yield of 7.05%. [read more]

October 2017
Investment Sale
Kidderminster : 30 Vicar Street

  • Let to EE Ltd on a new five year lease
  • Passing Rent: £35,500 per annum
  • Net Initial Yield: 7.30%
  • Price: £465,000
Fawcett Mead are pleased to have acted on the sale of this prime retail investment in Kidderminster, on behalf of a private client. The property is let to EE Limited on a new five year lease expiring in 2022. A sale price of £465,000 reflects a net initial yield of 7.30%. [read more]

October 2017
Investment Sale
Stratford Upon Avon : 29/29A High Street

  • Prime retail investment in affluent world tourist destination
  • Passing Rent: £100,000
  • Net Initial Yield: 7.43%
  • Price: £1,270,000
Fawcett Mead are pleased to have acted for OLIM Property on the sale of this retail investment in Stratford-upon-Avon. The property is let to Robert Dyas Ltd on a FRI lease expiring in 2019. A sale price of £1,270,000 reflects a net initial yield of 7.43%. [read more]

October 2017
Investment Sale
Chichester : 34-35 South Street

  • Let to Tesco Express and Orvis Company
  • Passing Rent: £133,375 per annum
  • Net Initial Yield: 5.12%
  • Price: £2,450,000
Fawcett Mead are pleased to have acted jointly alongside Flude Commercial on the sale of this multi-let retail investment on South Street, Chichester. The property is let to Tesco Express and Orvis Company and produces an total combined income of £133,374 per annum. A sale price of £2,450,000 reflects a net initial yield of 5.12%. [read more]

September 2017
Investment Sale
Witham : 42-44 Newland Street

  • Passing Rent: £45,000
  • Net Initial Yield: 6.00%
  • Price: £800,000

September 2017
Investment Sale
Nuneaton : 5/6 Market Place

  • Let to Poundland Ltd until 2022
  • Passing Rent: £190,000 per annum
  • Net Initial Yield: 7.98%
  • Price: £2,240,000
Fawcett Mead are delighted to have acted on the sale of this prime retail investment on Nuneaton Market Place. Nuneaton is an historical market town and the largest municipality within Warwickshire.

The property is let to Poundland Ltd on a new 10 year FRI lease until August 2022. A purchase price of £2,240,000 reflects a net initial yield of 7.98%.
[read more]

August 2017
Fawcett Mead : Richard Bashford makes his international sporting debut

Fawcett Mead’s Richard Bashford has recently competed in the Great Britain Triathlon Age Group Team at the European Championships in Denmark. The race was held in Herning, and consisted of a 1.25 mile swim, 56 mile bike leg and a 13.1m, half-marathon run. Richard commented, “Since being a young boy, I had always dreamed of representing my country on the sports field. Despite missing out on the British and Irish Lions tour to New Zealand, the European Triathlon Championships was a brilliant event and one that I will never forget.” [read more]

July 2017
Letting
Ashford : County Square

  • JD sings for Country Square, Ashford
Fawcett Mead, acting for Kennedy Wilson, have recently agreed a new lease on the former Mothercare in County Square Shopping Centre, Ashford taking approximately 6,000 sq ft.
This follows a number of new lettings including Nationwide, Select and Flutterbyes with a number of lettings due to follow.
[read more]

July 2017
Lease Advisory
London : 152 Waterloo Road

Fawcett Mead are pleased to have acted on behalf of Oseyo on the acquisition of 152 Waterloo Road. Oseyo are an expanding Korean deli operating throughout central London and major university cities. [read more]

June 2017
Letting
Fleet : The Hart Shopping Centre

  • 10,000-sq ft letting boost for Hart Shopping Centre in Fleet, Hampshire
Hart shopping centre in Fleet has agreed a 10-year lease with fashion retailer M&Co. to secure the 10,000 sq ft letting which will see M&Co open a new department store at the Hampshire mall.
The letting will further boost the tenant line up at Fleet’s flagship shopping centre which opened in 1991. The Hart shopping centre, asset managed by Reith Lambert, is anchored by a 30,000 sq ft Waitrose supermarket. M&Co will join an array of other national multiples including WH Smith, Argos, Boots, The Works and Clarks.

Fawcett Mead acted on behalf of the private landlord and the firm’s Vincent Morris said: “This deal underlines the appeal of the Hart shopping centre and reinforces its position as Fleet’s premier retail destination. M&Co is a fantastic addition to the offer. The new department store will help pull in more shoppers, boost footfall and generate even more retailer demand for the centre’s remaining units.”
[read more]

June 2017
Investment Sale
Bury St Edmunds : 25-25 Buttermarket

  • Let to Holland & Barrett and Shoe Zone with a WAULT of 5.71 years
  • Passing Rent: £165,000
  • Net Initial Yield: 7.05
  • Price: £2,200,000
Fawcett Mead are delighted to have acted on the sale of this well-let retail investment in the affluent town of Bury St Edmunds, on behalf of our clients Gatsby Capital. The property is let to Holland & Barrett Ltd and Shoe Zone Ltd, providing an WAULT of 5.71 years and producing a total current rent of £165,000 per annum. A sale price of £2,200,000 reflects a net initial yield of 7.05%. [read more]

June 2017
Investment Sale
London : 90/120 Judd Street

  • Prominent Multi-Let Retail Investment
  • Passing Rent: £133,108 per annum
  • Net Initial Yield: 4.17%
  • Price: £3,000,000
Fawcett Mead are pleased to have acted on the sale of this prime retail block located in Kings Cross. The area is benefiting from one of the largest redevelopments in the capitals history with Judd Street providing pedestrian connectivity between King Cross railway station and offices in the West End. A sale price of £3,000,000 reflects a net initial yield of 4.17%. [read more]

June 2017
Investment Sale
The Cannon Portfolio

  • High street investment portfolio
  • Passing Rent: £989,745 per annum
  • Net Initial Yield: 8.00%
  • Price: £11,400,000
Fawcett Mead are delighted to have acted on behalf of our client Threadneedle Pensions Ltd, on the sale of this high street portfolio. The portfolio comprises nine properties situated in core trading positions across England. A purchase price of £11,400,000 reflects a net initial yield of approximately 8.00%. Fawcett Mead acted alongside Cooper Rose Real Estate on the sale. [read more]

June 2017
Investment Sale
Sutton : 178-180 High Street

  • Let to Poundland Ltd until 2022
  • Passing Rent: £130,000 per annum
  • Net Initial Yield: 5.50%
  • Price: £2,200,000
Fawcett Mead are pleased to have acted on the sale of this prime retail investment on Sutton High Street. Sutton is an affluent London suburb and is ranked in the UKs Top 100 Retail Centres. The property is let to Poundland Ltd until June 2022. A purchase price of £2,200,000 reflects a net initial yield of 5.50%. [read more]

June 2017
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June 2017
Investment Acquisition
Bromley : 143 High Street

  • Prime retail property with residential development opportunity
  • Passing Rent: £300,491 per annum
  • Net Initial Yield: 5.22%
  • Price: £5,400,000
Fawcett Mead are pleased to have acted on behalf of Magern Ltd. on the acquisition of 143 High Street, Bromley. The property is located on a 100% prime retail pitch with all of the income secured to National Westminster Bank. The property also boasts planning permission for 8 flats with potential for a further 4 flats. A purchase price of £5,400,000 reflects a net initial yield of 5.22% [read more]

May 2017
Investment Sale
Market Drayton : Frogmore Road

  • Let to Wilko and Argos with a WAULT of 7.8 years
  • Passing Rent: £344,522 per annum
  • Net Initial Yield: 9.00%
  • Price: £3,595,000
Fawcett Mead are delighted to have acted alongside joint agents, GCW, on the sale of this well-let retail investment in Market Drayton, on behalf of our clients Steamrock Capital. The property is let to Argos Ltd and Wilko Retail Ltd, providing an WAULT of 7.8 years and producing a total current rent of £344,522 per annum. A sale price of £3,595,000 reflects a net initial yield of 9.00%. [read more]

May 2017
Lettings
Card Factory lettings

Acting on behalf of Card Factory, Fawcett Mead have recently acquired, regeared and renegotiated deals in a number of towns throughout London, the South, South West and Midlands.

The Wakefield based card retailer has signed new terms in Crawley, Gloucester, Herne Bay, Kettering, Leamington Spa, Stanmore, Trowbridge, Witham and Wokingham. Aaron Bell, Director at Fawcett Mead commented: “ We are delighted to be helping Card Factory continue to both expand their portfolio as well as improving terms on their existing stores.”
[read more]

May 2017
Investment Sale
Glasgow : 55-59 Buchanan Street

  • Prime high street block on Buchanan Street
  • Net Initial Yield: 4.00%
  • Price: £22,150,000
Fawcett Mead are pleased to have acted on behalf of clients, Wittington Investments, on the sale of a prime high street block in Glasgow. 55-59 Buchanan Street comprises three retail units spanning a total of 10,000 sq ft and let to Russell & Bromley, Molton Brown and Kiko. A sale price of £22,150,000 reflects a net initial yield of 4.00%. Jonathan Mills commented "We are delighted to have completed this sale on behalf of WIPL. We have worked with our client on numerous transactions now and it is always great to see these through to a successful conclusion. The price achieved represents a benchmark yield for Scotland and with the asset management on the property now complete, the sale represented an excellent opportunity for our client to capitalise on the strong demand for prime high street retail that we are currently experiencing". [read more]

May 2017
Investment Sale
Gloucester : 13-23 Northgate Street

  • New 15 year lease to TK Maxx
  • Passing Rent: £250,000 per annum
  • Net Initial Yield: 6.26%
  • Price: £3,750,000
Fawcett Mead are pleased to have acted on the sale of this prime retail investment on Northgate Street, Gloucester. The property is let to TJX UK Ltd on a new 15 year FRI lease. A purchase price of £3,750,000 reflects a net initial yield of 6.26%, assuming purchasers costs of 6.52%. [read more]

May 2017
Investment Sale
Southend-on-Sea : 13/15 London Road

  • Let to RBS on a new five year lease
  • Passing Rent: £70,000 per annum
  • Net Initial Yield: 7.24%
  • Price: £915,000
Fawcett Mead are pleased to have acted on this off-market sale on behalf of private clients. The property is let to the Royal Bank of Scotland PLC on new five year lease expiring in August 2021. A purchase price of £915,000 reflects a net initial yield of 7.24%, assuming purchasers costs of 5.65%. [read more]

May 2017
Investment Acquistion
Derby : Park Farm Shopping Centre

  • Anchored by Co-op, Wilko and Boots
  • Price: £9,750,000
Fawcett Mead are pleased to have acted on behalf of Evolve Estates on the acquisition of Park Farm Shopping Centre in Derby.

The scheme comprises over 80,000 sq ft of retail, anchored by Co-op, Wilkos, Boots, Farmfoods and Barclays. The property offers significant asset management and development opportunities and benefits from its immediate vicinity to the campus of Derby University.
[read more]

May 2017
Investment Sale
Cardiff : 2-6 Queen Street

  • Let to Starbucks on a new 10 year lease
  • Passing Rent: £100,000 per annum
  • Net Initial Yield: 5.52%
  • Price: £1,705,000
Fawcett Mead are pleased to have acted on behalf of private clients on the sale of this 100% prime retail investment on Queen Street.

The property is let to Starbucks Coffee Company (UK) Ltd on a 10 year full repairing and insuring lease from October 2016. The current rent is £100,000 per annum.

A purchase price of £1,705,000 reflects a net initial yield of 5.52%, assuming purchasers costs of 6.18%.
[read more]

May 2017
Investment Acquistion
Winchester : 25/25a High Street and Unit 1-3, 4/8 Market Street

  • Prime high street acquisition in Winchester
  • Passing Rent: £353,600 per annum
  • Net Initial Yield: 4.30%
  • Price: £7,725,000
Fawcett Mead are pleased to have acted for Wesleyan Assurance Society on the freehold acquisition of this prime high street property in Winchester. The property consists of a prime unit let to Pret A Manger, fronting onto the High Street and three retail units fronting onto Market Street let to Crew Clothing, De Montford Fine Arts and Walton Design. The purchase price of £7,725,000, reflects a net initial yield of 4.30%. Tom Heptonstall commented, “We are delighted to secure this prime retail property in the one of the countrys most affluent towns. The investment offers Wesleyan Assurance Society a long term, secure investment”. [read more]

May 2017
Investment Sale
Chichester : 12/18 West Street & 51/55 Tower Street

  • Let to House of Fraser until 2039
  • Passing Rent: £752,585 per annum
  • Net Initial Yield: 5.25%
  • Price: £13,400,000
TH Real Estate, advised by Fawcett Mead, has sold the freehold investment of the House of Fraser store in Chichester to Savills IM for £13.4 million.

12/18 West Street & 51/55 Tower Street is let to the retailer until 2039 and the deal reflects a net initial yield of 5.25%.

The 69,313 sq ft property is in a prominent position opposite Chichester Cathedral. It sits at the heart of the retail pitch within one of the UKs most sought after investment locations.

With a total current income of £752,585 pa, the property offered an attractive investment proposition in a city which has historically attracted strong retailer demand. In 2016 House of Fraser undertook a comprehensively refurbishment of its four trading floors, further improving the retail offer.

Jonathan Mills commented, "Following a competitive bidding process, we are delighted to have completed this sale at an attractive price for our clients, TH Real Estate."
[read more]

May 2017
Investment Sale
Windsor : 93A &94 Peascod Street

  • Investment sale in affluent town
  • Passing Rent: £103,000 per annum
  • Net Initial Yield: 6.47%
  • Price: £1,500,000
Fawcett Mead are pleased to have acted on behalf of Kennedy Wilson on the sale of 93A & 94 Peascod Street in Windsor. The units are well-let to two local tenants. The property is located adjacent to the primary entrance of the King Edward Shopping Centre.

A sale price of £1,500,000 reflects a net initial yield of 6.47%.
[read more]

April 2017
Investment Sale
Brackley : Waitrose

  • Let to Waitrose until 2028
  • Passing Rent: £331,377 per annum
  • Net Initial Yield: 5.75%
  • Price: £5,400,000
Fawcett Mead are pleased to have acted on behalf of Savills IM on the sale of Waitrose in Brackley to a private purchaser. The foodstore is let to Waitrose until June 2028 in the affluent Northamptonshire market town. A sale above asking at £5,400,000 reflects a net initial yield of 5.75%. [read more]

April 2017
Investment Sale
Putney : 156 High Street

  • Investment sale in highly affluent area of South-West London
  • Passing Rent: £80,000 per annum
  • Net Initial Yield: 5.17%
  • Price: £1,460,000
Fawcett Mead are pleased to have acted on behalf of SG Capital in the sale of 156 High Street, Putney. The retail unit is let to Kokoro UK Ltd for a term of 20 years from October 2016. The current rent is £80,000 per annum with 5 yearly upwards only rent reviews. A sale price of £1,460,000 reflects a net initial yield of 5.17%. [read more]

April 2017
Investment Sale
Hitchin : 9-10 High Street

  • 31,000 sq ft property let to Poundland and M&Co
  • Passing Rent: £315,000 per annum
  • Net Initial Yield: 5.63%
  • Price: £5,250,000
Fawcett Mead are pleased to have acted on behalf of Steamrock on the sale of 9-10 High Street, Hitchin to Bellborough Ltd.

The property is let to Poundland Limited and Mackays Stores Limited (t/a M&Co) with a WAULT of 7.53 years to expiry. There is significant development potential with the opportunity to build 88 dwellings on the site and an underground car park.

A sale price of £5,250,000 reflects a net initial yield of 5.63%.
[read more]

March 2017
Investment Sale
Evesham : 24-26 High Street

  • Located in the prime retail pitch
  • Passing Rent: Let to Bonmarché at £40,000 per annum
  • Net Initial Yield: 8.00%
  • Price: £480,000
Fawcett Mead are pleased to have acted on behalf of a private client on the sale of 24-26 High Street in Evesham. This 100% prime pitch property islet to Bonmarche A sale price of £480,000 reflects a net initial yield of 8%. [read more]

March 2017
Letting
Devizes : 30 The Brittox

  • Passing Rent: 43,000 pax on a 10 year lease.
Fawcett Mead recently let 30 The Brittox to The Works on behalf of a private client. The Works have signed a 10 year lease with a rent of £43,000 pax. The size of the units ground floor is 1,350 sq ft and the first floor is 439 sq ft. [read more]

March 2017
Investment Sale
Eastbourne : 129-131 Terminus Road

  • Prime retail investment in affluent East Sussex town
  • Passing Rent: £140,000 per annum
  • Net Initial Yield: 6.13%
  • Price: £2,150,000
Fawcett Mead are pleased to have acted on behalf of Kennedy Wilson on the sale of 129-131 Terminus Road in Eastbourne.

The 100% prime pitch properties are let to Laura Ashley and Shoe Zone Limited.

A sale price of £2,150,000 reflects a net initial yield of 6.13%.
[read more]

March 2017
Lease Advisory
Fawcett Mead retained by Citrus

  • Citrus have appointed Fawcett Mead to acquire high street and shopping centre locations across the UK
Citrus, a ladies fashion retailer are acquiring sites ranging from 500 to 1,500 sq ft in busy high street and shopping centre locations.

Nick Carvey at Fawcett Mead commented: "We are very pleased to assist Citrus in their acquisition programme and hope to open another 10 units in the next 12 months. This will add to their current portfolio of 8 stores."
[read more]

February 2017
Investment Sale
Chichester : 16-17 North Street

  • Prime freehold retail investment
  • Passing Rent: £163,750 per annum
  • Net Initial Yield: 4.00%
  • Price: £3,820,000
Fawcett Mead are pleased to have acted on behalf of Savills IM alongside Cooper Rose Real Estate on the investment sale of 16/17 North Street, Chichester. The property is let to WH Smith Retail Holdings Limited until 24 December 2022. A sale price of £3,820,000 reflects a net initial yield of 4.00% [read more]

February 2017
Investment Acquisition
Stourbridge : Ryemarket Shopping Centre

  • Prime Shopping Centre Acquisition
  • Passing Rent: £1,414,334 per annum
  • Net Initial Yield: 8%
  • Price: £14,750,000
Fawcett Mead are pleased to have acted for Waypoint Asset Management on the freehold acquisition of this shopping centre in the heart of Stourbridge. It provides the primary retail offering within the town. The property is let to convenience and mass market retailers such as Waitrose and WHSmith. A purchase price of £14,750,000 reflects a net initial yield of 8.94%. "We are delighted to have completed this acquisition on behalf of Waypoint Asset Management. The Centre provides a number of interesting asset opportunities and is the dominant retail offer within Stourbridge." Jonathan Mills, Director. [read more]

February 2017
Investment Sale
Woodbridge : 22 The Thoroughfare

  • New 10 year FRI lease to Joules from March 2016 in an affluent Suffolk market town
  • Passing Rent: £42,500 per annum
  • Net Initial Yield: 5.64%
  • Price: £716,000
Fawcett Mead are pleased to have acted on behalf of a private investor on the sale of 22 The Thoroughfare in Woodbridge. The property is 100% prime pitch and let to Joules clothing store.

The sale price of £716,000 reflects a net initial yield of 5.64%.
[read more]

February 2017
Letting
Newquay : 10 Bank Street

  • Holland & Barrett sign in Newquay
Holland & Barrett continue their rapid expansion with a new store in prime pitch of the busy tourist town of Newquay. Acting on behalf of a private investor, Fawcett Mead agreed a new 10 yr lease, subject to tenant break at year 5, at £50,000 per annum. The new rent represents an uplift from the level previously paid by Store Twenty One. [read more]

February 2017
Letting
Hounslow : 247 High Street

  • 10 year lease with CEX
Acting on behalf of M&G, Fawcett Mead have agreed a new 10 year lease with CEX in Hounslow. The video games and mobile phone exchange retailer paid £62,500 pax for the former Dunkin Donuts unit that is situated on High Street between the two entrances to The Treaty Shopping Centre. [read more]

February 2017
Letting
Dartford : Unit 10 Priory Centre

  • Warren James completes in Dartford
Fawcett Mead has agreed a deal with jeweler Warren James for a prime retail unit at the Priory Shopping Centre, Dartford.

Warren James signed a 10 year lease, with tenant only break at years 3 and 6, plus 12 months rent free. The tenant is paying £18,500 pa.

Nick Carvey commented, “This former Co-op Travel store is in a prime location within the centre, adjacent to Poundland. Warren James is a successful and rapidly expanding retailer, having opened 22 stores in 2016. They are a perfect fit for the Priory.”
[read more]

January 2017
Investment Sale
Finchley : Pure Gym

  • 24 Hour Gym in London Finchley
  • Passing Rent: £297,604 per annum
  • Net Initial Yield: 6.14%
  • Price: £4,550,000
Fawcett Mead are pleased to have represented a private client on the sale of Pure Gym, East End Road, Finchley.

The property is held long leasehold from the London Borough of Barnet for a further 125.5 years at a peppercorn rent. It is let to Pure Gym for a further 19.8 years, generating an annual income of £297,604.
[read more]

January 2017
Investment Sale
Southport : 25-27 Eastbank Street

  • Prominent freehold retail investment in the affluent coastal town of Southport
  • Passing Rent: £30,000 per annum
  • Net Initial Yield: 8.50%
  • Price: £340,000
Fawcett Mead are pleased to have acted on behalf of Kennedy Wilson on the sale of 25-27 Eastbank Street.

The property is located in a strong retail pitch and is in close proximity to a number of national retailers. It is let to Arriva North West Limited paying £30,000 pa on a FRI lease expiring June 2030.

A sale price of £340,000 reflects a net initial yield of 8.50%.
[read more]

January 2017
Investment Sale
Derby : 1 London Road & 2A Burrows Walk Intu Centre

  • Majority let to Poundland until April 2027
  • Passing Rent: £302,500 per annum
  • Net Initial Yield: 8.61%
  • Price: £3,300,000
Fawcett Mead are delighted to have acted on behalf of BMO Properties Limited on the sale of 1 London Road & 2A Burrows Walk.

Derby is a major commercial centre located in the midlands with a retail catchment population of 2.2 million living within a 45 minute drive.

The properties are let to Poundland and Kieran Mullin, generating an annual income of £302,500.

A sale price of £3,300,000 reflects a net initial yield of 8.61%.
[read more]

January 2017
Investment Sale
Southampton : 18 Above Bar Street

  • Well configured retail unit in top 20 UK retail centre
  • Passing Rent: £78,500 per annum
  • Net Initial Yield: 7.07%
  • Price: £1,050,000
Fawcett Mead are delighted to have acted on behalf of Kennedy Wilson on the sale of 18 Above Bar Street in Southampton.

The retail unit is let to Virgin Media on a 10 year lease, expiring in August 2020.

A sale at this price reflects a net initial yield of 7.07%.
[read more]

January 2017
Letting
22 Strait Bargate : Boston

  • Poundstretcher signs in Boston
  • Passing Rent: £140,000 per annum
Poundstretcher has signed a 10 yr lease on a 21,500 sq ft at 22 Strait Bargate.


Aaron Bell at Fawcett Mead commented: “The store is in an excellent location within one of the fastest growing urban populations in the East Midlands region and Poundstretcher took advantage of its availability to secure a prime location within the town centre.”
[read more]

January 2017
Investment Sale
Norwich : The Former Royal Hotel

  • Landmark property with substantial development opportunity
  • Passing Rent: £158,000 per annum
  • Price: £3,150,000
Fawcett Mead are pleased to have acted on the sale of The Former Royal Hotel, a landmark building located in the historic cathedral city of Norwich.

The subject property, which was constructed in 1897, comprises approximately 40,126 sq ft in total accommodation. The ground floor is let to three commercial tenants; Bidwells LLP, Be At One Ltd and Brandex (Europe) Ltd. The commercial tenants provide a WAULT of 10 years to expiry. The upper floors are completely underutilised, and offer the opportunity for residential conversion.

The investment was purchased for £3,150,000.
[read more]

January 2017
Newsletter : Fawcett Mead - Occupational Agency

January 2017
Investment Sale
Salisbury : 13-15 Butcher Row

  • Prime retail investment let to White Stuff and Whittard
  • Passing Rent: £101,750 per annum
  • Net Initial Yield: 5.21%
  • Price: £1,840,000
Fawcett Mead are pleased to have acted on behalf of Kennedy Wilson on the sale of this prime retail investment located in the historic cathedral city of Salisbury.

The property is let to White Stuff and Whittard producing an annual rent of £101,750 per annum.

The purchase price of £1,840,000 reflects a net initial yield of 5.21%.
[read more]

January 2017
Investment Sale
Stratford-upon-Avon : 19 Bridge Street

  • 100% prime retail investment let to Jo Malone Ltd
  • Passing Rent: £75,000 per annum
  • Net Initial Yield: 4.62%
  • Price: £1,530,000
Fawcett Mead have acted on behalf of client Kennedy Wilson on the sale of this prime retail investment in Stratford-upon-Avon.

The property is let to Jo Malone Ltd on a new 10 year lease from February 2016, with a tenant break in 2021.

The purchase price of £1,530,000 reflects a net initial yield of 4.62%.
[read more]

January 2017
Investment Sale
Epsom : Units 1, 2A & 2B Station Approach

  • Greater London investment opportunity
  • Passing Rent: £142,662 per annum
  • Net Initial Yield: 8.21%
  • Price: £1,637,500
Fawcett Mead are pleased to have acted on the sale of this Greater London retail investment on behalf of Solum Regeneration, a partnership between Network Rail and Kier Property.

The property forms part of the multi-million pound redevelopment of Epsom Railway Station, and comprises three newly developed retail units. The units are let on new ten year leases to Costa, Doddle Parcel Services and Café Senzo.

The purchase price of £1,637,500 reflects a net initial yield of 8.21%.
[read more]

January 2017
Investment Sale
Stratford-upon-Avon : 17/18 High Street

  • Prime retail investment in affluent market town
  • Passing Rent: £100,000 per annum
  • Net Initial Yield: 6.88%
  • Price: £1,370,000
Fawcett Mead are pleased to have acted on the sale of this prime retail investment in Stratford-upon-Avon.

The property is let to Blacks Outdoor Retail Ltd for a term of ten years from April 2010. The property is situated opposite the entrance to Bell Yard, which is undergoing a £30 million development.

A purchase price of £1,370,000 reflects a net initial yield of 6.88%.
[read more]

December 2016
Investment Sale
Portsmouth : 119 Commercial Road

  • 100% Prime Pitch let to Schuh Limited until 2021
  • Passing Rent: £140,000 per annum
  • Net Initial Yield: 8.03%
  • Price: £1,642,500
Fawcett Mead are pleased to have acted on behalf of Kennedy Wilson on the sale of 119 Commercial Road.

The property is let to Schuh Limited on a ten year lease expiring in 2021. It is located in the 100% prime pitch of Portsmouth which is ranked in the Top 50 UK retail centres.

The property was sold for asking at £1,642,500 which reflects a net initial yield of 8.03%.
[read more]

December 2016
Investment Sale
Bicester : 34 Sheep Street

  • Investment sale in Bicester well-let to Lloyds Pharmacy
  • Passing Rent: £86,000 per annum
  • Net Initial Yield: 5.75%
  • Price: £1,410,000
Fawcett Mead are pleased to have acted on behalf of Kennedy Wilson on the sale of 34 Sheep Street Bicester.

The property is let to Lloyds pharmacy until September 2019.

A sale at this price reflects a net initial yield of 5.75%.
[read more]

December 2016
Investment Acquisition
Brighton : 38-42 East Street

  • Mixed-use high street investment located in Brighton
  • Passing Rent: £623,680 per annum
  • Net Initial Yield: 4.50%
  • Price: £14,375,000
Fawcett Mead are pleased to have acted on behalf of Redevco on the acquisition of this mixed-use high street property in Brighton.

The property consists of five retail units, with office and residential units in the four upper floors, covering a total area of 19,305 sq ft. The retail element is currently occupied by Sandro, Maje, Estee Lauder, Lush and Pret A Manger.

The purchase price of £14,375,000 reflects a net initial yield of 4.50% on the retail element.

Jonathan Mills commented, "We were delighted to secure this off market opportunity for our clients, Redevco, which strengthens the standing of their Brighton ownership as one of the finest retail estates in the UK."
[read more]

December 2016
Investment Acquisition
Truro : 1-2 Victoria Street

  • Let to Fat Face Ltd until 2022
  • Passing Rent: £107,500 per annum
  • Net Initial Yield: 7.29%
  • Price: £1,390,000
Fawcett Mead are pleased to have acted on the acquisition of this attractive retail investment in the affluent Truro on behalf of a private client.

The property, which comprises approximately 5,274 sq ft in well configured retail accommodation is let to Fat Face Limited on a FRI lease expiring in September 2022.

The purchase price of £1,390,000 reflects a net initial yield of 7.29%.
[read more]

December 2016
Investment Acquisition
Andover : 63-71 High Street

  • Retail parade located in Andover
  • Passing Rent: £141,175 per annum
  • Net Initial Yield: 9.50%
  • Price: £1,400,000
Fawcett Mead are pleased to have completed on the acquisition of this prime retail investment in the affluent market town of Andover.

The property, which is situated in the pedestrianised High Street, is let to Boots Opticians, Thomas Cook, Age UK, British Heart Foundation and William Hill. Other nearby retailers include Marks & Spencer, Dorothy Perkins, Topshop, Costa, Toni & Guy and Clarks.

A purchase price of £1,400,000 reflects a net initial yield of 9.50%.
[read more]

December 2016
Investment Sale
Ilford : 116 High Road

  • 100% prime Greater London retail investment
  • Passing Rent: £74,000 per annum
  • Net Initial Yield: 5.70%
  • Price: £1,225,000
Fawcett Mead are pleased to have completed on the sale of this 100% prime retail investment on High Road, Ilford.

The property is let to C & J Clark International Ltd for a term expiring in December 2022.

The purchase price of £1,225,000 reflects a net initial yield of 5.70%.
[read more]

December 2016
Investment Sale
Ilford : 92-94 High Road

  • Greater London investment let to Specsavers and Footlocker
  • Passing Rent: £108,000 per annum
  • Net Initial Yield: £1,625,000
  • Price: 6.26%
Fawcett Mead are pleased to have acted on behalf of our clients, Kennedy Wilson, on the sale of this prime retail investment in Ilford.

The property is located in the prime section of the pedestrianised High Road, located opposite the entrance to Marks & Spencer and the Exchange Shopping Centre. The property is let to Specsavers and Footlocker producing a total current income of £108,000 per annum.

A purchase price of £1,625,000 reflects a net initial yield of 6.26%.
[read more]

December 2016
Investment Sale
St Helens : Central Retail Park

  • Let to Matalan Retail ltd and KFC (GB) Ltd
  • Passing Rent: £480,500 per annum
  • Net Initial Yield: 7.09%
  • Price: £6,350,000
Fawcett Mead are pleased to have acted on the sale of this long-let retail park investment located in St. Helens.

The property, which was built in 2000, is let to Matalan Retail Limited and Kentucky Fried Chicken (GB) Ltd with a WAULT of 8.56 years to expiry. The total current income is £480,500 per annum.

A purchase price of £6,350,000 reflects a net initial yield of 7.09%.
[read more]

December 2016
Investment Sale
Boston : 24-30 Strait Bargate

  • Prominent retail investment
  • Passing Rent: £107,500 per annum
  • Net Initial Yield: 7.99%
  • Price: £1,270,000
Fawcett Mead are pleased to have completed on the sale of this prominent retail investment in the historic Lincolnshire market town of Boston.

The property is let to New Look Retailers Ltd and Sense (The National Deafblind and Rubella Association) with a WAULT of 5.91 years to expiry. The total current income is £107,500 per annum.

A purchase price of £1,270,000 reflects a net initial yield of 7.99%.
[read more]

November 2016
Investment Acquistion
Chichester : 83/83a North Street

  • Prime retail investment in the historic cathedral city Chichester
  • Passing Rent: £227,000 per annum
  • Net Initial Yield: 4.75%
  • Price: £4,495,000
Fawcett Mead are pleased to have acted on behalf of Alterity Investment Limited on the acquisition of two retail units in this refurbished 19th Century building.

The units are let to Claires Accessories and Mountain Warehouse, generating an annual income of £227,500.

A sale at £4,495,000 reflects a net initial yield of 4.75%.
[read more]

November 2016
Investment Sale
St Neots : 31 Market Square

  • Well configured retail unit let to Iceland until 2021
  • Passing Rent: £131,000 per annum
  • Net Initial Yield: 6.50%
  • Price: £1,825,000
Fawcett Mead are delighted to have acted on behalf of Savills Investment Management on the sale of 31 Market Square located in the affluent and thriving market town of St Neots.

The property is let to Iceland Foods Ltd until 2021. The unit comprises 14,700 sq ft of well configured food store accommodation.

The investment was purchased for £1,825,000.
[read more]

November 2016
Investment Sale
Redcar : 79/85 High Street

  • Let to Wilko Retail Ltd expiring December 2021
  • Passing Rent: £202,000 per annum
  • Net Initial Yield: 10.00%
  • Price: £1,900,000
Fawcett Mead have acted on the sale of this prominent retail investment on Redcar High Street. The property is let to Wilko Retail Ltd who have been in occupation for twenty years. The purchase price of £1,900,000 reflects a net initial yield of 10.00%. [read more]

November 2016
Investment Acquisition
Bexleyheath : Units 1-4, 131 Broadway

  • Greater London Retail Acquisition
  • Passing Rent: £710,420 per annum
  • Net Initial Yield: 5.00%
  • Price: £13,315,000
Fawcett Mead are pleased to have acted on the acquisition of this Greater London retail investment on behalf of clients, Henderson Global Investors.

The property is subject to three occupational tenancies. 70% of the current income is secured to Primark Stores Ltd until 2036. The property produces a total net income of £710,420 per annum.

The purchase price of £13,315,000 reflects a net initial yield of 5.00%.

Jonathan Mills commented, "We were delighted to secure this off market transaction for our clients. Primark offers some of the most highly desirable income for investors and the property has been extended and reconfigured to suit Primarks specific trading requirements."
[read more]

November 2016
Investment Sale
East Ham : 113 & 113b High Street

  • Greater London investment let until 2028
  • Passing Rent: £57,000 per annum
  • Net Initial Yield: 5.92%
  • Price: £911,000
Fawcett Mead are pleased to have completed on the sale of this Greater London retail investment on behalf of a private client.

The property is let to Neil Gordons Opticians for a term expiring in June 2028, producing an annual income of £57,000 per annum.

A purchase price of £911,000 reflects a net initial yield of 5.92%.
[read more]

November 2016
Investment Sale
Pontefract : 11-15 Horsefair

  • Let to British Heart Foundation until 2020
  • Passing Rent: £42,500 per annum
  • Net Initial Yield: 8.79%
  • Price: £462,500
Fawcett Mead are pleased to have acted on the sale of this prominent corner unit in Pontefract.

The property is let to British Heart Foundation on a new five year lease, expiring in 2020. The tenants have been in occupation since 2005.

The purchase price of £462,500 reflects a net initial yield of 8.79%.
[read more]

November 2016
Investment Sale
Walsall : 12-14 Park Street

  • Let to Card Factory until 2022
  • Passing Rent: £75,000 per annum
  • Net Initial Yield: 7.93%
  • Price: £895,000
Fawcett Mead are delighted to have completed on the sale of this 100% prime retail investment on Park Street, Walsall, on behalf of our clients.

The property, which comprises 3,454 sq ft in well configured retail accommodation, is let to Card Factory until October 2022 at a current annual rent of £75,000.

A purchase price of £895,000 reflects a net initial yield of 7.93%
[read more]

November 2016
Investment Sale
Chester : 7 Bridge Street

  • Chester is ranked in the Top 15 UK Retail Centres
  • Passing Rent: £24,000 per annum
  • Net Initial Yield: 5.50%
  • Price: £415,000
Fawcett Mead are pleased to have acted on the sale of this prime retail investment on Bridge Street, Chester.

The property is let on a new 15 year lease, providing a current income of £24,000 per annum.

A sale price of £415,000 reflects a net initial yield of 5.50%, and a reversionary yield of 7.40%.
[read more]

November 2016
Investment Sale
Witham : 42 Newland Street

  • Let to Boots until 2023
  • Passing Rent: £45,000 per annum
  • Net Initial Yield: 5.33%
  • Price: £800,000
Fawcett Mead are pleased to have acted on the sale of this prime retail investment in Witham, on behalf of our client, Kennedy Wilson.

The property, which comprises 7,521 sq ft of well configured retail floor space, is let to Boots UK Ltd until 9 May 2023, providing a current income of £45,000 per annum.

A sale price of £800,000 reflects a net initial yield of 5.33%.
[read more]

November 2016
Investment Sale
Truro, Newbury and Plymouth :

  • Tenants include Caffe Nero, Steamer Trading, Virgin Media and Tresspass.
  • Price: c. £5,500,000
Legal & General Investment Management Real Assets (L&G), on behalf of its Managed Fund, has completed on the sale of three retail investments in Truro, Newbury and Plymouth for around £5.5m. Tenants included: Caffe Nero, Streamer Trading, Virgin Media and Trespass.

Fawcett Mead advised L&G on the sales, which were purchased by separate buyers.

Mark Russell, Fund Manager of the Legal & General Managed Property Fund commented – “We are pleased with the competitive pricing achieved on these sales which will deliver strong returns to our investors”.
[read more]

November 2016
Letting
Ashford, County Square : 3 new lettings to Select, Flutterbyes and Evapo

Fawcett Mead have recently completed the lettings of three more units within County Square Shopping Centre.

Select have taken an amalgamation of Units 104 and 105 adjacent to Debenhams. Unit 18 to Flutterbyes and Unit 16a to Evapo.

Fawcett Mead are joint letting agents for County Square and these lettings show that there is a good demand from national retailers for the right shops in the town.
[read more]

November 2016
Investment Sale
Worksop : 39/41 Bridge Place

  • Let to The Works Stores Ltd on a new 10 year lease
  • Passing Rent: £33,500 per annum
  • Net Initial Yield: 7.13%
  • Price: £450,000
Fawcett Mead have completed on the sale of this prime retail investment in Worksop on behalf of a private client.

The property is located in the 100% prime pitch on the pedestrianised Bridge Place, with the Priory Shopping Centre entrance situated opposite.

The property is let in its entirety to The Works Stores Ltd for a term of ten years from July 2016.

A sale price of £450,000 reflects a net initial yield of 7.13%.
[read more]

November 2016
Investment Sale
Bicester : 34 Sheep Street

  • The property is let to Lloyds Pharmacy Ltd until 2019
  • Passing Rent: £86,000 per annum
  • Net Initial Yield: 5.75%
  • Price: £1,410,000
Fawcett Mead are pleased to have completed on the off-market sale of this [read more]

November 2016
Investment Sale
Bath : 2-3 Milsom Street

  • Bath is one of the strongest retail centres in the UK
  • Passing Rent: £253,480 per annum
  • Net Initial Yield: 4.59%
  • Price: £5,180,000
Fawcett Mead are pleased to have acted on the sale of this prime retail investment on Milsom Street, Bath, on behalf of our clients CBRE Global Investors.

The property is let to East Lifestyle Ltd and Mayther Cards producing an annual rent of £253,480.

A sale price of £5,180,000 reflected a net initial yield of 4.59%.
[read more]

November 2016
Investment Acquisition
Barnstaple : 75 High Street

  • 100% prime high street investment acquisiton
  • Passing Rent: £86,468 per annum
  • Net Initial Yield: 7.39%
  • Price: £1,130,000
Fawcett Mead are pleased to have acted on the acquisition of this 100% prime high street investment in Barnstaple on behalf of a private client.

Adjacent occupiers are WH Smith and Saltrock. Furthermore, the property is located opposite Banburys Department Store. Other occupiers in the immediate vicinity include M&S, Hotter Shoes and Top Shop.

A purchase price of £1,130,000 reflects a net initial yield of 7.39%.
[read more]

November 2016
Lease Advisory
Fawcett Mead advise Card Factory

  • Acting on behalf of Card Factory, Fawcett Mead have recently acquired, regeared and renegotiated deals in a number of towns throughout the South and East Anglia.
The Wakefield based card retailer has signed new terms in Barnet, Basildon, Basingstoke, Bexhill-on-Sea, Chatham, Holloway, Nottingham, Romford and Wellingborough.

Aaron Bell, Director at Fawcett Mead commented: “ We are very pleased to continue to assist Card Factory with their ongoing acquisitions programme as well as seeking to improve terms on their existing portfolio. We look forward to continuing to work with Card Factory throughout the coming year.”
[read more]

November 2016
Investment Sale
Preston : 162/165 Friargate

  • Well let, prominent retail investment in Preston
  • Passing Rent: £315,000 per annum
  • Net Initial Yield: 7.26%
  • Price: £4,070,000
Fawcett Mead are pleased to have acted on the sale of this retail investment on Friargate in Preston, on behalf of our client F&C.

The property is let in its entirety to Wilko Retail Ltd until March 2026 at an annual rent of £315,000 per annum.

A sale price of £4,070,000 reflects a net initial yield of 7.26%.
[read more]

October 2016
Investment Sale
Bury St Edmunds : 9 Buttermarket

  • Prominent bank investment
  • Passing Rent: £149,500 per annum
  • Net Initial Yield: 7.61%
  • Price: £1,850,000
Fawcett Mead are pleased to have completed on the sale of this prominent bank investment in the historic market town of Bury St Edmunds.

The property is situated on Buttermarket, in the heart of the towns high street. The property is let in its entirety to the undoubted covenant of Lloyds Bank Plc until 2021.

The sale price of £1,850,000 reflects a net initial yield of 7.61%.
[read more]

October 2016
Investment Sale
Walsall : 27/31 Park Street

  • 100% prime trading position on Park Street
  • Passing Rent: WAULT of 6.95 years
  • Net Initial Yield: 8.95%
  • Price: £2,700,000
Fawcett Mead are pleased to have acted on the disposal of this prime retail parade in Walsall, on behalf of CBRE Global Investors.

The property is well let to four national multiple retailers, two of whom have recently agreed reversionary leases, and another has signed a new 5 year lease.

The sale price of £2,700,000 reflects a net initial yield of 8.95%.
[read more]

September 2016
Investment Acquisition
Stourbridge : Ryemarket Shopping Centre

  • Investment sale of shopping centre in the heart of Stourbridge
  • Passing Rent: £1,414,334 per annum
  • Net Initial Yield: 8.94%
  • Price: £14,750,000
Fawcett Mead are pleased to have represented Waypoint Asset Management on this investment acquisition. Ryemarket Shopping Centre is anchored by Waitrose. Jonathan Mills, Director at Fawcett Mead commented: "We are delighted to have completed this acquisition on behalf of Waypoint Asset Management. The Centre provides a number of interesting asset management opportunities and is the dominant retail offer within Stourbridge."

[read more]

September 2016
Investment Sale
Newbury : 86 Northbrook Street

  • Let to Caffe Nero until 2023
  • Passing Rent: £65,000 per annum
  • Net Initial Yield: 4.91%
  • Price: £1,250,000
Fawcett Mead are pleased to have completed on the sale of this attractive retail investment in Newbury on behalf of L&G.

The property is let to Caffe Nero on a 10 year lease from May 2013 at a rebased rent. The property provides an excellent opportunity to add value through the vacant self-contained upper floors.

A sale price of £1,250,000 reflects a net initial yield of 4.91%.
[read more]

September 2016
Investment Sale
Chichester : 4 East Street

  • 100% prime retail investment
  • Passing Rent: £100,000 per annum
  • Net Initial Yield: 3.69%
  • Price: £2,550,000
Fawcett Mead are pleased to have acted jointly with Cooper Rose Real Estate on the sale of this 100% prime retail investment on the pedestrianised East Street in Chichester.

The property is let in its entirety to Oasis Fashions Retail Limited on a 5 year full repairing and insuring lease from November 2013. The current rent is £100,000 per annum with a rent review in June 2021.

A sale price of £2,550,000 reflects a net initial yield of 3.69%, assuming purchasers costs of 6.39%.
[read more]

September 2016
Letting
Dartford : 22/26 The Priory Centre

  • KFC new 20 year lease Dartford
KFC have taken a 20 year lease at an undisclosed rent for the former 99p Stores unit, they will occupy a prominent corner onto Lowfield Street at the busiest entrance of the centre. [read more]

September 2016
Letting
Barnstaple : 72 High Street

  • JD Sports Taking Barnstaple Store
Himor Group, advised by Fawcett Mead, has let a prime shop in Barnstaple town centre to JD Sports for its first store in north Devon.
The sports fashion retailer has taken the 6,542 sq st shop at 72 High Street on a new 10-year lease at a rent of £120,000 a year.
The landlord had agreed a simultaneous lease surrender with Cargo, the previous occupier, to enable the deal to take place.
JLL advised JD Sports and Smart4 acted for Cargo.
[read more]

September 2016
Promotion
Craig Cawthorne joins Fawcett Mead

Craig Cawthorne has joined Fawcett Mead as an Associate Director in its Retail Agency Department. He joins after 10 years at JLL where he had been Head Of Retail in the Bristol Office. He also spent time on secondment at Legal & General Property.

James Mead commented, "Craigs experience and market knowledge make him an excellent addition to our growing agency team. He will split his time between our London and Bristol offices"
[read more]

August 2016
Investment Sale
Wigston : Magna Shopping Centre

  • Shopping centre investment in Leicestershire
  • Passing Rent: £280,474 per annum
  • Net Initial Yield: c.10.00%
  • Price: c. £2,700,000
Fawcett Mead are pleased to have acted alongside CBRE on the off-market sale of this shopping centre in Wigston, Leicestershire.

The property provides approximately 25,000 sq ft in retail accommodation and hosts tenants including Wilko and Coral.

The sale price of c. £2,700,000 reflects a net initial yield of c.10.00%, assuming standard purchasers costs.
[read more]

August 2016
Letting
Bromley : 53-57 High Street

  • New signed Lease to Poundland and Pure Gym
Poundland has taken a 10-year lease on the 10,500 sq ft ground floor at £200,000 pa while Pure Gym has taken a 15-year lease on the first and second floors of 11,231 sq ft and 11,266 sq ft respectively along with a ground floor lobby of 666 sq ft. The rent is £200,000 pa.

Prime Retail acted for both tenants and both deals were off-market.

Finer will start enabling work soon with the aim of allowing both tenants to begin fitting out early in the New Year in time for Easter trading.
[read more]

August 2016
Letting
Chippenham : 19 High Street

  • New Lease to Coffee #1
20 year lease with a tenant break at the 10th and 16th years, at a rent of £55,000 pax subject to 9 months’ rent free. [read more]

August 2016
Investment Sale
Redcar : 79/85 High Street

  • Excellent retail investment aquistion
  • Passing Rent: £202,000 per annum
  • Net Initial Yield: 8.50%
  • Price: £2,235,000
Fawcett Mead and pleased to to have acted on behalf of addington capital Prominent retail investment opportunity on Redcar High Street which provides approximately 28,684 sq ft of space. A sale price of £2,235,000 reflects a net initial yield of 8.50%. Graham Fawcett commented ' [read more]

August 2016
Investment Sale
St Neots : 31 Market Square

  • Prime retail investment in affluent market town
  • Passing Rent: £131,000 per annum
  • Net Initial Yield: 6.50%
  • Price: £1,900,000
We are pleased to have acted on behalf of Savills on the sale of this prime retail space. The property is let to Iceland Foods Ltd until 2012. A sale price of £1,900,000 reflects a net initial yield of 6.50%. Graham Fawcett commented ' [read more]

August 2016
Investment Sale
Southend-on-Sea : 169/175 High Street

  • 100% Prime investment
  • Passing Rent: £105,000 per annum
  • Net Initial Yield: 8.00%
  • Price: £1,250,000
Fawcett Mead are delighted to have acted on the sale of this 100% prime high street investment on behalf on Savills IM.

The units are currently let to The Work Stores Ltd and Foodco UK LLP (t/a Muffin Break) on new 10 year leases. The upper floors provide an excellent opportunity for residential development given the immediate proximity to Essex University.

A sale price of £1,250,000 reflects a net initial yield of 8.00% assuming standard purchasers costs of 5.95%.
[read more]

August 2016
Investment Sale
Southend-on-Sea : 66-68 High Street

  • Attractive retail opportunity
  • Passing Rent: £169,250
  • Net Initial Yield: 8.61%
  • Price: £1,850,000
Fawcett Mead are delighted to have acted on behalf of Kennedy Wilson on the sale of this prime investment in Southend-on-Sea.

The unit is let to the secure covenants of Marks & Spencer, Coral and Linens Direct, with a WAULT of 6.20 years. Southend-on-Sea is a major regional retail centre, located just 42 miles east of Central London.

A sale price of £1,850,000 reflects a net initial yield of 8.61%, assuming standard purchasers costs of 6.23%.
[read more]

August 2016
Investment Sale
Bury St Edmunds : 4 Brentgovel Street

  • Prominent long let investment
  • Passing Rent: £82,500
  • Net Initial Yield: 6.50%
  • Price: £1,200,000
Fawcett Mead are pleased to have acted on the sale of this prominent corner unit in the attractive market town of Bury St Edmunds on behalf of Kennedy Wilson.

The property is let to Hughes Electrical Ltd on a new 10 year term, without break. The retailer was awarded the Domestic and General Internet Retailer of the year award in 2016.

A sale price of £1,200,000 reflects a net initial yield of 6.50%, assuming purchasers costs of 5.93%.
[read more]

August 2016
Investment Sale
Cardiff : 70 Queen Street

  • Cardiff is a Top 10 UK Retail Centre
  • Passing Rent: £330,000 per annum
  • Net Initial Yield: 6.25%
  • Price: £4,950,000
Fawcett Mead are delighted to complete on the sale of this retail investment in the 100% prime retail pitch on Queen Street, Cardiff.

The property is situated in the heart of the 100% prime retail pitch, between Marks & Spencer and the main entrance to St Davids Shopping Centre.

The entire property is let to The Carphone Warehouse Ltd on a 15 year full repairing and insuring lease expiring 30 September 2022. The current rent is £330,000 per annum which is subject to an upward only rent review on 1 October 2017.

Richard Bashford commented, "whilst this property was over rented, its prime location and the quality of the building make this an attractive investment and we are pleased with the price achieved."
[read more]

July 2016
Investment Sale
Buckingham Portfolio

  • Portfolio of three prime retail assets
  • Passing Rent: £190,655 per annum
  • Net Initial Yield: 6.17%
  • Price: £2,917,000
Fawcett Mead are pleased to have acted on the sale of these three prime retail investments in Chichester, Lewes and Wimbledon, which together formed the Buckingham Portfolio.

The portfolio offered assets in extremely affluent centres, with tenants including Natwest, Dip & Flip and CEX. The portfolio also offered excellent rental growth opportunities from low base rental levels.

A combined sale price of £2,917,000 reflects a net initial yield of 6.17%, assuming standard purchasers costs of 5.80%.
[read more]

July 2016
Investment Sale
Folkestone : 20 Sandgate Road

  • Let to C & J Clark International Ltd (t/a Clarks) expiring in 2021
  • Passing Rent: £35,500 per annum
  • Net Initial Yield: 7.00%
  • Price: £525,000
Fawcett Mead have completed on the sale of this 100% prime high street investment in the popular seaside town of Folkestone.

The property offers over 2,000 sq ft in well configured retail accommodation. Nearby retailers include Debenhams, Boots, Costa, Wilko, Superdrug, Poundland and Waterstones.

A sale price of £525,000 reflects a net initial yield of 7.00%, assuming standard purchasers costs of 6.45%.
[read more]

July 2016
Investment Sale
Bognor Regis : 13 London Road

  • 100% prime high street investment opportunity
  • Passing Rent: £36,750 per annum
  • Net Initial Yield: 7.40%
  • Price: £475,000
Fawcett Mead are pleased to have completed on the sale of this 100% prime retail investment on London Road, Bognor Regis.

The property is let to JD Sports Fashion Plc expiring in December 2021. The total current income is £36,750 per annum. The purchase price of £475,000 reflects a net initial yield of 7.40%
[read more]

July 2016
Investment Sale
Wolverhampton : 15 Dudley Street

  • 100% prime retail pitch
  • Passing Rent: £125,000
  • Net Initial Yield: 8.50%
  • Price: £1,390,000
Fawcett Mead are pleased to confirm the sale of 15 Dudley street, located in Wolverhampton. The property is let to EE until May 2022.

Nearby retailers include M&S, Boots, Next and Topshop.

The sale price of £1,390,000 reflects a net initial yield of 8.50%, assuming standard purchasers costs of 6.05%.
[read more]

July 2016
Letting
Maidenhead : 4 High Street Mall, Nicholson Centre

  • Letting to Smiggle completes in Maidenhead
Fawcett Mead, acting jointly with GCW, have completed a new letting to Smiggle in the Nicholson Centre, Maidenhead.

The property occupies a prime position within the scheme adjacent to Warren James and Claires Accessories.

Our client Vixcroft was very pleased with the result as the tenant mix continues to strengthen within the scheme.
[read more]

June 2016
Lease Advisory
Fawcett Mead acting on behalf of Heidi Bakery

  • Heidi Bakery have appointed Fawcett Mead to acquire high street sites in a number of locations west of London.
Heidi, a Windsor bakery are acquiring sites of at least 900 sq ft in Amersham, Ascot, Beaconsfield, High Wycombe, Guildford, Henley, Marlow, Reading, Staines, Sunningdale and Uxbridge.

Nick Carvey at Fawcett Mead commented:

"We are very pleased to assist Heidi in their acquisition programme and hope to open at least three new units in the next 18 months."
[read more]

May 2016
Investment Sale
Wigan : 3-9 Standishgate

  • Two new 10 year leases on the 100% prime pitch
  • Passing Rent: £152,000 per annum
  • Net Initial Yield: 6.65%
  • Price: £2,150,000
Fawcett Mead are pleased to complete on the sale of this 100% prime retail investment on Standishgate, Wigan.

The property is let to Specsavers Optical Superstores Ltd and CEX Ltd on new 10 year leases. The total current income is £152,000 per annum.

The purchase price of £2,150,000 reflects a net initial yield of 6.65%.

Richard Bashford commented, "This property was originally purchased as part of a portfolio in 2014. Following some asset management, our client was pleased with this sale which allows them to recycle some capital."
[read more]

May 2016
Investment Sale
Newcastle : 162 Northumberland Street

  • Let to TSB Bank Plc until 30th November 2025
  • Passing Rent: £270,000 per annum
  • Net Initial Yield: 5.50%
  • Price: £4,610,000
Fawcett Mead are pleased to have acted on the sale of this prominent corner location on the northern edge of Northumberland Street, on behalf of Lothbury Investment Management.

The property is let to TSB Bank Plc on a lease expiring 30th November 2025. The current passing rent is £270,000 per annum.

A sale price of £4,610,000 reflects a net initial yield of 5.50%.

Thomas Heptonstall commented, "We are very pleased to have achieved the sale price of 5.50% in challenging market conditions."
[read more]

May 2016
Letting
Chippenham : Unit 1B Borough Parade

  • Patisserie Valerie set to open its doors in Chippenham
Fawcett Mead have recently completed the letting of Unit 1B to the 90 year old upmarket British café chain, Patisserie Valerie.

This deal strengthens the retail offering within Borough Parade and illustrates the tenant demand that Chippenham is currently attracting. Fawcett Mead acted jointly with Mcarthur Wilson.
[read more]

May 2016
Investment Sale
Project Charlotte : Nottingham & Blackpool

  • Dual property portfolio
  • Passing Rent: Tenants include Poundland, Sports Direct and Costa
  • Net Initial Yield: 9.00%
  • Price: £13,200,000
U+I, advised by Fawcett Mead, has sold a freehold investment portfolio of four retail properties in Nottingham and Blackpool for £13.2 million.

The properties, which formed part of Project Charlotte, are located at 6/10 Wheelera Gate, 1/9 Friar Lane and Pearl Assurance House in Nottingham and the Pricebusters building in Bank Hey Street, Blackpool.

Tenants in the portfolio include Poundland, Sports Direct, JD Weatherspoons, Lakeland and Costa Coffee.
[read more]

May 2016
Letting
The Priory Centre, Dartford : 3 new lettings

Fawcett Mead have recently completed the lettings of three more units within The Priory Shopping Centre.

Unit 27, Tasty African Restaurant. Unit 32, Beaumont Beds. Unit 41, The Diner.

Fawcett Mead are the sole letting agents for The Priory Shopping Centre and these lettings show that there is a good demand from regional retailers for the right shops in the town.
[read more]

April 2016
Investment Sale
North Finchley : Tally Ho Corner

  • Prominent multi-let investment opportunity
  • Passing Rent: £1,012,706 per annum
  • Net Initial Yield: 6.55%
  • Price: £14,600,000
Fawcett Mead are pleased to have completed on the sale of this prominent multi-let investment in the north London suburb of North Finchley.

The property comprises approximately 308,543 sq ft in accommodation and hosts retailers including Marks & Spencer, Pure Gym and Power Leisure, with a WAULT of 11.05 years.

The sale price of £14,600,000 reflects a net initial yield of 6.55%, assuming standard purchasers costs of 5.80%.
[read more]

April 2016
Promotion
UK : Property Awards Winner

Fawcett Mead are delighted to have been voted the Niche or Agency Team of the year award at the 2016 Property Awards, hosted by Property Week.

James Mead commented, ""
[read more]

April 2016
Investment Acquisition
Bristol : 68-70 Park Street

  • Substantial four storey property in busy and affluent area of Bristol
  • Passing Rent: £80,000 per annum
  • Price: £1,702,500
Fawcett Mead is pleased to have acted on the acquisition of this substantial four storey period property on Park Street, on behalf of a private developer.

The property is let to Bristol Guild, who have been in occupation since the early 1930s.

The property offers a redevelopment opportunity through a residential conversion of the upper floors.

JLL acted for the vendor.
[read more]

April 2016
Lease Advisory
Fawcett Mead advise Card Factory

  • Acting on behalf of Card Factory, Fawcett Mead have recently acquired and renegotiated deals in a number of towns throughout the South and East Anglia.
The Wakefield based card retailer has signed for new terms in Bexleyheath, Camberwell, Cromer, Edgware, Fareham, Shepherds Bush and Woodley.

Aaron Bell, Director at Fawcett Mead commented:

"We were very pleased to assist Card Factory with their ongoing acquisition programme as well as seeking to improve terms on their existing portfolio. We look forward to helping Card Factory make further progress throughout the coming year."
[read more]

April 2016
Investment Acquisition
Cardiff : 20/22 Queen Street

  • Prime pedestrianised pitch on Queen Street
  • Passing Rent: £120,000 per annum
  • Net Initial Yield: 7.00%
  • Price: £2,230,000
Fawcett Mead are pleased to have acted on the acquisition of this prime retail investment on Queen Street, Cardiff.

The property is let to UREA Catering Ltd (t/a Chopstix) for a term expiring in June 2026. The current rent passing is £165,000 per annum.

A purchase price of £2,150,000 reflects a net initial yield of 7.15%.

Richard Bashford commented, "This well configured shop has the benefit of A3 planning and provided an opportunity to purchase a retail investment on Queen Street, which has improved in the past year or so."
[read more]

April 2016
Investment Sale
Bishop Auckland : 54 & 54A Newgate Street

  • Let to Vodafone Limited unitl 24th December 2021
  • Passing Rent: £33,500 per annum
  • Net Initial Yield: 9.80%
  • Price: £330,000
Fawcett Mead are pleased to have completed on the sale of this prime retail investment in Bishop Auckland.

The subject property is situated on Newgate Street, the towns prime retail pitch. Other retailers in the vicinity include Boots the Chemist, Poundland, Bon Marche, Brighthouse, Holland & Barrett and Dorothy Perkins. The property is let to Vodafone Limited for a further five years at a current passing rent of £33,500 per annum.

A sale price of £330,000 reflects a net initial yield of 6.46%. Thomas Heptonstall commented, "We are pleased to conclude the sale of the above property to a private investor. The sale proved challenging but our client was pleased with the result"
[read more]

April 2016
Investment Sale
Bradford : Rawson Quarter

  • Excellent city centre secondary retail pitch
  • Passing Rent: £672,654 per annum
  • Net Initial Yield: 13.00%
  • Price: £4,850,000
Fawcett Mead are pleased to have completed on the sale of this high yielding retail investment in Bradford.

Rawson Quarter is situated in the heart of Bradford City Centre, immediately opposite the Kirkgate Shopping Centre and the new Westfield Shopping Centre.

The property generates a net current income of £672,654 per annum. A purchase price of £4,850,000 reflects a net initial yield of 13%.

Graham Fawcett commented, "This was a challenging sale especially given the recent opening of The Westfield Shopping Centre, however, all parties were pleased with the eventual outcome."
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April 2016
Letting
Sheffield : 8 Fargate Sheffield

  • Hotel Chocolat continue UK expansion with Sheffield acquisiton
Fawcett Mead are delighted to have recently completed the letting of 8 Fargate to Hotel Chocolat in Sheffield on behalf of client Rockspring.

Acting jointly with Barker Proudlove, Fawcett Mead completed a new 10 year lease at a rent of £78,000 pax subject to a tenant only break in the 5th year.

Stuart Kearney commented: "We are very pleased to have completed this letting in a quick time scale to provide a fully let retail parade in prime Sheffield. Achieving such a reputable and credible retailer displays the quality Sheffield is currently attracting."

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