August 2021
Investment Sale
Colchester : 27 High Street & Culver Street West

  • New lease to Lloyds Bank PLC at a rebased rent
  • Passing Rent: £200,000
  • Net Initial Yield: 6.91%
  • Price: £2,720,000
Acting on behalf of a private vendor, Fawcett Mead are delighted to have sold the freehold interest of this prime bank investment. Bruce Gillingham Pollard acted for an overseas purchaser.

The property is let entirely to Lloyds Bank PLC on a new five lease at a rebased rent until February 2026. The property is situated on High Street - the prime retail thoroughfare and benefits from dual frontage on to Culver Street West.

Graham Fawcett commented "The sale of this property demonstrates that there is a strong demand for well let in-town retail investments. We are delighted to have secured such an attractive exit price for our client."
[read more]

August 2021
Investment Sale
York : 4/6 Parliament Street

  • Prime Retail Unit with Development Opportunities (STPP)
  • Price: £1,950,000
Fawcett Mead are pleased to have sold the freehold interest of 4/6 Parliament Street York, on behalf on Lasalle Investment Managers.

The vacant property currently extends to 15,530 sq ft and is arranged over basement, ground and three upper floors, offering a number of development and asset management opportunities including a residential conversion (STPP).

Tom Heptonstall commented "We are delighted to conclude on the sale of the freehold asset after a targeted marketing campaign. The positive result shows there is strong demand for properties with development/asset management opportunities is strong retail centres."

[read more]

August 2021
Investment Sale
Harrogate : 27/31 Cambridge Street

  • Prime retail investment with planning consent for 14 residential units
  • Price: £2,300,000
Acting on behalf of Lasalle Investment Managers, Fawcett Mead are delighted to have sold the the freehold interest of this prime retail investment with planning consent for 14 residential units.

The property is let to Bodycare and River Island and benefits from vacant possession on part of the first floor, which has enabled the proposed residential development.

Tom Heptonstall commented "We were thrilled to complete on the sale of this asset after our client secured planning permission above the existing retail. This enhanced the value and opened the property up to the development market, which remains strong in attractive towns such as Harrogate."

Many thanks to Prideview who acted for the purchaser.

[read more]

July 2021
Investment Sale
Norwich : 21 Gentlemens Walk &

  • Substantial city centre freehold block let to NatWest Bank & Virgin Money
  • Passing Rent: £504,000 per annum
  • Net Initial Yield: 8%
  • Price: £5,900,000
Acting on behalf of Legal & General, Fawcett Mead has sold the freehold interest in 21 Gentlemens Walk and 10 Castle Street, Norwich. This comprises a substantial city centre freehold block which is let to NatWest Bank and Virgin Money at a total rent of £504,000 pa with a weighted average unexpired lease term of 4.40 years. The purchase price of £5,900,000 reflected a net initial yield of circa 8%.

Richard Bashford commented – “The sale of this property demonstrates that there is still good demand for well let in-town retail investments where there is longer term scope for redevelopment”.
[read more]

May 2021
Investment Sale
Canterbury : 15/16 The Parade

  • Prime retail property located on the pedestrianised pitch
  • Price: Circa £2,150,000
Acting on behalf of Columbia Threadneedle and jointly with BC Retail, Fawcett Mead has sold the freehold interest in this prime shop for circa £2,150,000.

This was sold with vacant possession following Burtons/Dorothy Perkins going into Receivership.

Smith Price RRG acted for the purchaser.
[read more]

May 2021
Investment Sale
Truro : 17 Boscawen Street

  • Let to HSBC Bank on a recently extended lease expiring in October 2026
  • Passing Rent: £150,000 per annum
  • Net Initial Yield: Circa 7.85%
  • Price: Circa £1,800,000
Acting on behalf of CBRE Global Investors, Fawcett Mead has sold the freehold interest in this prime bank investment for circa £1,800,000.

This followed a recent lease regear that Fawcett Mead acted on.

The property is let HSBC on a lease that expires on in October 2026, at a current passing rent of £150,000 per annum.

The purchase price reflected a NIY of circa 7.85%.
[read more]

February 2021
Investment Sale
Guildford : 148-150 High Street

  • Prime high street supermarket let to Sainsburys until 2032.
  • Passing Rent: £805,000 per annum
  • Net Initial Yield: 5.10%
  • Price: £14,800,000
Fawcett Mead are delighted to have advised Legal & General Investment Management on the sale of 148-150 High Street, Guildford. The 32,000 sq ft foodstore is arranged over ground and two upper floors and is let entirely to Sainsburys until 2032.

The £14,800,000 sale price reflects a NIY of 5.10%.

Jonathan Mills commented "We were delighted to complete on this off market sale to an overseas investor who we had identified as having a specific requirement that matched the subject propertys characteristics. This follows on from our sale of the Waitrose in Clapham Junction for Legal & General and demonstrates the continued appetite for high street foodstore investments."
[read more]

February 2021
Investment Sale
Edinburgh : 75 George Street

  • Prime bank investment let entirely to the Bank of Scotland.
  • Passing Rent: £384,500 per annum
  • Net Initial Yield: 6.27%
  • Price: £5,750,000
Acting jointly with Burns Property Consultancy, Fawcett Mead are pleased to have advised Wittington Investments on the sale of 75 George Street, Edinburgh.

The attractive unit on George Street, is arranged over basement, ground and three upper floors and let entirely to the Bank of Scotland until 2025

Jonathan Mills commented "Acting together with Burns Property Consultancy, we were delighted to complete on this off market sale to a special purchaser at an attractive yield for our clients, Wittington Investments."
[read more]

February 2021
Investment Sale
Middlesbrough : 53-57 Linthorpe Road

  • A four-storey retail parade located in the heart of the towns prime pitch.
  • Price: £1,200,000
Fawcett Mead are pleased to have advised Columbia Threadneedle on the sale of 53/57 Linthorpe Road, Middlesbrough.

The property is let to River Island, Genus UK Limited and one vacant unit. Subject to planning permission, the property would suite a variety of alternative uses over the upper parts.

Tom Heptonstall commented "We are pleased to advised Columbia Threadneedle on the disposal of this freehold retail asset in a challenging market place."

Thanks to Green and Partners acted for the purchaser.

[read more]

February 2021
Investment Acquisition
Stratford-Upon-Avon : 24-26 Bridge Street

  • A prime convenience store together with a former Laura Ashley offering asset management and development potential.
  • Price: £3,750,000
Acting on behalf of private property company, Fawcett Mead have purchased the freehold interest of 24/26 Bridge Street, Stratford-Upon-Avon. The property comprises a prime convenience store let to Tesco Express with an unexpired term of 9 years, together with a vacant former Laura Ashley offering asset management and development potential.

Tom Heptonstall commented "We are very pleased to have secured this asset in Stratford-upon-Avon and look forward to working with our client to enhance the value of the former Laura Ashley unit, whilst benefitting from the secure income from the Tesco unit.

Many thanks to TW Keil who acted for the vendor.
[read more]

February 2021
Investment Sale
Liverpool : 602-632 Prescot Road

  • High Yielding Neighbourhood Parade With Development Potential (STPP)
  • Price: £1,750,000
Fawcett Mead are pleased to have advised Addington Capital on this off market sale to private investors.

This neighbourhood parade has continued to trade during the last 12 months and provides a vital role in the local community.

Graham Fawcett commented "In our opinion the current rents will be significantly rebased in this property in the coming months and the vendor was very pleased with the result"
[read more]

January 2021
Investment Sale
Trueman Portfolio

  • A mixed use, high street portfolio, with properties in Liverpool, Peterborough and Reading.
  • Price: £2,000,000
Fawcett Mead have recently acted on the sale of the Trueman Potfolio to Thackeary Estate on behalf of Columbia Threadneedle.

The Trueman Portfolio consisted of a Bella Italia, located in Liverpool, a Pizza Express located in Peterborough and a Boots Opticians situated in Reading.

Graham Fawcett commented "Our client was delighted with this off market sale. This sector is having a tough time and we feel this represents an excellent result in the current situation"

Many thanks to Prime Retail who acted for the purchaser.
[read more]

January 2021
Investment Sale
Bournemouth : 32a-34 Commercial Road

  • An attractive freehold restaurant investment located on the prime pedestrianised pitch.
  • Price: £1,150,000
Fawcett Mead have acted as joint auctioneers with Allsop, on the sale of 32a-34 Commercial Road, Bournemouth.

The property is let entirely to Caspian Food Services Limited T/A Burger King until March 2023.

Graham Fawcett commented "We are pleased to have acted as joint auctioneer on the disposal of this freehold restaurant investment. We were pleased to have achieved a strong exit price for our client in this challenging climate."
[read more]

January 2021
Investment Sale
Bournemouth : 1-3 Commercial Road

  • Prominent town centre property, let to Vodaphone and The Body Shop.
  • Price: £1,555,000
Fawcett Mead are delighted to have acted as joint auctioneers with Allsop, on the sale of 1-3 Commercial Road, Bournemouth.

The property is located in the heart of Bournemouth, on the prime pedestrianised pitch let to Vodaphone and The Body Shop.

Graham Fawcett commented "We are delighted to have concluded on the sale of this prominent town centre property, at an attractive exit price for our client."
[read more]

December 2020
Investment Sale
Carlisle : 78-82 English Street & 49-53 Blackfriars Street

  • Prime retail investment with 92% of income secured to Clydesdale Bank until 2036.
  • Passing Rent: £131,000 per annum
  • Net Initial Yield: 7.2%
  • Price: £1,710,000
Fawcett Mead are delighted to have advised Kennedy Wilson on the disposal of their freehold interest of 78/82 English Street & 49-53 Blackfriars Street, Carlisle.

The property is let to Clydesdale Bank PLC and Origins Caterers Ltd with a total rental income of £131,000 per annum.

Joe Baio commented “We are very pleased to have advised Kennedy Wilson on the sale of 78-82 English Street & 49-53 Blackfriars Street, Carlisle. The majority of the property is let to Clydesdale Bank PLC until 2036 paying £120,000 per annum. The sale price of £1,710,000, reflects a NIY of 7.1%. Many thanks to Liam Stray of Allsop, who acted for the purchaser.”
[read more]

November 2020
Investment Sale
Scunthorpe : 103-105 High Street

  • Prime retail property located on the prime pedestrianised pitch
  • Price: £310,000
Fawcett Mead has recently acted on behalf of Kennedy Wilson for the sale of this property, situated on the towns pedestrianised thoroughfare.

Joe Baio commented “We have completed on this sale on behalf of Kennedy Wilson. Sold to a special purchaser off-market. The property is let to Boots Opticians Professional Services Limited until May 2022 and Timpson Limited until March 2024, sub-let to Max Spielmann.”
[read more]

November 2020
Investment Sale
Horsham : 6-7 Middle & Carfax Street

  • Prime retail property on the corner of Middle & Carfax Street
  • Passing Rent: £126,500, per annum
  • Net Initial Yield: 8.52%
  • Price: £1,400,000
Fawcett Mead has recently acted on behalf of Kennedy Wilson for the sale of this attractive retail unit, situated on the corner of Middle and Carfax Street.

The sale price of £1,400,000 reflects a Net Initial Yield of 8.52%.

Joe Baio commented "We are delighted to have completed on this sale on behalf of Kennedy Wilson. The property comprises a standalone High Street block let to two tenants who have shown commitment to the location post-COVID.”
[read more]

September 2020
Investment Sale
Harrow : 76/78 St Anns Road

  • Let to JD Sports and Costa with a WAULT of 4+ years
  • Passing Rent: £180,000 per annum
  • Net Initial Yield: 7.36%
  • Price: £2,300,000
Fawcett Mead has recently acted on the sale of this prime retail parade in Harrow.

The sale price of £2,300,000 reflects a net initial yield of 7.36% and a net equivalent yield of approximately 6.50%.

Joe Baio commented: “We are pleased to have completed on this sale on behalf of Columbia Threadneedle. There remains a strong appetite for well-let, prime high street assets in locations such as Harrow."
[read more]

August 2020
Investment Sale
Scarborough : 81 Newborough

  • Let entirely to Savers Beauty & Health on a new 5 year lease.
  • Passing Rent: £50,000
  • Net Initial Yield: 12.5%
  • Price: £385,000
Fawcett Mead has recently acted on behalf of Kennedy Wilson for the sale of this prime retail unit, situated in the prime pedestrianised pitch.

The sale price of £385,000 reflects a Net Initial Yield of 12.5%.

Joe Baio commented “We were very pleased to have completed on this sale on behalf of Kennedy Wilson. The sale successfully completed in lockdown with 1.5 years term certain on the lease.”
[read more]

July 2020
Investment Sale
Guildford : 47 North Street

  • Let to Marks & Spencer until 2028
  • Passing Rent: Passing Rent: £200,000 per annum
  • Net Initial Yield: 5.78%
  • Price: Price: £3,250,000
Fawcett Mead have recently acted on the sale of this attractive retail unit on North Street, let to Marks & Spencer until 2028.

The sale price of £3,250,000 reflects a net initial yield of 5.78%.

Jonathan Mills commented: “We are pleased to have completed on this sale on behalf of CBRE Global Investors. The property was purchased by Marks & Spencer in a clear vote of confidence in the store and location.”
[read more]

July 2020
Investment
Prime Unit Guildford High St : 137-139 & 141-143 High Street

  • Passing Rent: £434,500 per annum
  • Price: £5,100,000
Acting on behalf of Wesleyan Assurance Society, Fawcett Mead has purchased the freehold interest of 137-139 & 141-143 High Street, Guildford. The property is let to Hobbs and Le Creuset until June 2024. The property occupies a prime position on the pedestrianised High Street. TW Keil acted for the vendor. Tom Heptonstall commented “We are very pleased to secure the property at a significant discount to historic prime yields. We feel that the well configured units in a prime position within one of the UK most affluent city’s will prove to be a solid long term investment for our client” [read more]

July 2020
Investment Sale
Clapham Junction : 36-46 St Johns Road

  • 100% prime retail investment on St John’s Road, Clapham Junction. Let to Waitrose, Superdrug and L’Occitane
  • Passing Rent: £1,066,745 per annum
  • Net Initial Yield: 3.99%
  • Price: £25,000,000
Fawcett Mead has recently advised Legal & General on the sale of this prime, multi-let retail parade in Clapham Junction. 66% of the current income is secured to Waitrose until 2029. The sale price of £25,000,000, reflects a Net Initial Yield of 3.99%.

Jonathan Mills commented: “We are delighted to have completed successfully on this sale at an attractive exit price for Legal & General, in evidence of the continued attractiveness of the foodstore market in an otherwise very uncertain environment. The property was sold off market to a pension fund investor who we had identified as having a specific requirement for an investment that matched the subject property’s characteristics. The sale follows on from our £138m acquisition of Shopstop, Clapham Junction for DTZI and clearly demonstrates the continued investor appetite for Central London retail investment opportunities.”


[read more]

July 2020
Investment Sale
Scarborough : 81 Newborough

  • 100% Prime unit let to Savers
  • Passing Rent: £50,000 per annum
Acting for Kennedy Wilson, Fawcett Mead has sold the freehold interest in 81 Newborough to a private investor.

The property is let to Savers Health & Beauty Limited on a lease expiring in December 2023, with a tenant’s break option in December 2021, at a passing rent of £50,000 per annum.

Joe Baio commented, "We were very pleased to advise our client on the successful disposal of their freehold ownership on Newborough, which displayed a term certain of 1.5 years."
[read more]

May 2020
Investment Acquisition
Nottingham : 30-32 Clumber Street

  • Let to JD Sports until March 2024
  • Passing Rent: £255,000 per annum
  • Net Initial Yield: 7.85%
  • Price: £3,050,000
Acting on behalf of Wesleyan Assurance Society, Fawcett Mead has purchased the freehold interest of 30/32 Clumber Street, Nottingham. The property is let in its entirety to JD Sports until 24th March 2024. The property occupies a prime position on the pedestrianised Clumber Street. Green & Partners acted for the vendor. Tom Heptonstall commented “We are very pleased to secure the property at a significant discount to historic prime yields. We feel that the strong covenant of JD Sports and prime position within a major UK city will prove to be a solid long term investment for our client”
[read more]

March 2020
Tenant Acquisition
Chepstow : 22 High Street

  • Fawcett Mead are pleased to have assisted Card Factory in acquiring their new store in a prominent location on Chepstow High Street.

March 2020
Investment Acquisition
York : 50 Coney Street

  • Let to Cancer Research until November 2023
  • Passing Rent: £90,000 per annum
  • Net Initial Yield: 9.11%
  • Price: £935,000
Fawcett Mead are pleased to have advised a syndicated purchaser on the acquisition of 50 Coney Street, York.

The freehold property provides 2,193 sq ft of accommodation over three floors and is located in a prime position on Coney Street.

The entire property is let to Cancer Research UK, expiring in November 2023.

Joe Baio commented, "We were pleased to be able to secure this 100% prime freehold investment on Coney Street at an attractive price for our client."

HRH Retail advised the vendor.
[read more]

February 2020
Investment Acquisition
Clifton, Bristol : The Clifton Sausage

  • Let on a 25 year unbroken lease until November 2039
  • Passing Rent: Passing rent of £72,500 pax set at review in November 2019
  • Net Initial Yield: 6.53%
  • Price: £1,050,000
Fawcett Mead are delighted to have acted on the acquisition of this rare Clifton Village freehold, on behalf of a syndicated investor.

The restaurant has traded since 2002 and become a local institution. The property includes a flat on the first floor.

Kevin Conibear at Fleurets acted on behalf of the vendor.
[read more]

January 2020
Lease Regear
Nottingham : 2 Wheeler Gate

  • Fawcett Mead are pleased to complete a regear to Lakeland in Nottingham on behalf of AEW. Lakeland agreed to take a new 5 year lease at £90,000 pax, with no rent free.

January 2020
Fawcett Mead Letting Availability 2020

January 2020
Investment Sale
Yeovil - 23 Middle St

  • Prime retail investment with recent 5 year lease renewal to Trespass
  • Passing Rent: £32,500 per annnum
  • Net Initial Yield: 9.02%
Acting on behalf of the vendor, Fawcett Mead are pleased to conclude a successful sale of this prominent shop on prime Middle Street. [read more]

January 2020
Investment Sale
Birkenhead : 205 Grange Road

  • Prime retail investment with recent 5 year lease renewal to Superdrug
  • Passing Rent: £115,000 per annum
  • Net Initial Yield: 13.63%
  • Price: £800,000
Fawcett Mead have recently acted on behalf of Kennedy Wilson on the sale of this retail investment in Birkenhead.
The subject property is situated within the 100% pedestrianised pitch, with a recent 5 year lease renewal to Superdrug.
The sale price of £800,000 reflects a net initial yield of 13.68%.
[read more]

January 2020
New Letting
Canterbury : 16 High Street

  • Fawcett Mead are pleased to complete a new letting to Kokoro in Canterbury on behalf of a private client. The tenant has agreed to take a new 20 year lease, with a mutual break at year 10, at £60,000 pax.

January 2020
Tenant Acquisition
Chiswick : 492-496 Chiswick High Road

  • Fawcett Mead are pleased to complete a new acquisition in Chiswick on behalf of Saxon Furniture. The tenant has taken its first store in the UK on a 10 year lease, at £150,000 pax.

January 2020
New Letting
Hounslow : 245 High Street

  • Fawcett Mead are pleased to complete a new letting to BNH Outsourcing in Hounslow on behalf of a private client. The tenant has taken a new 20 year lease, with a break at year 10, at £65,000 pax. .

December 2019
Lease Renewal
Romford : Iceland

  • Fawcett Mead are pleased to complete a renewal to Iceland in Romford on behalf of Nuveen Real Estate. The tenant extended their lease for a further 5 years at a rent of £95,000 per annum.

November 2019
Penzance - Wharfside Shopping Centre

  • Fawcett Mead were pleased to advise Card Factory on renewing their lease within the Wharfside Shopping Centre for 5 years subject to an option to break at year 3.

November 2019
Lease Renewal
Exeter - 244 High Street

  • Acting on behalf of an Institutional Landlord, Fawcett Mead were pleased to renew the lease on this prime shop for a further 5 years to Three store at £112,500 per annum.

October 2019
Investment Sale
Sevenoaks : 3c Dorset Street & 6-10 Bank Street

  • Freehold investment in affluent London commuter town
  • Passing Rent: £99,000 per annum
  • Net Initial Yield: 7.9%
  • Price: £1,175,000
Fawcett Mead are pleased to have acted on the disposal of this attractive retail and leisure investment in Sevenoaks, on behalf of The Milton Group.

The property is let to Giggling Squid and two independent occupiers, producing a total rent roll of £99,000 per annum.

The purchase price of £1,175,000, reflecting a net initial yield of 7.9%.

Joe Baio commented: “Having undertaken an extensive asset management programme, our client decided to sell this property, which displayed a WAULT of 13 years. We were pleased to have secured a strong exit for our client."
[read more]

October 2019
Investment Acquisition
Lymington : 78-80 High Street

  • Prime retail investment in attractive maritime market town
  • Passing Rent: £180,000 per annum
  • Net Initial Yield: 6.63%
  • Price: £2,550,000
Fawcett Mead are delighted to have acted on the acquisition of this prime retail investment in Lymington, on behalf of a private pension fund.

The property is let to Poundland with 7 years unexpired and has unused uppers which have the potential to be redeveloped into residential accommodation.

The purchase price of £2,550,000 reflects a net initial yield of 6.63%.
[read more]

October 2019
Investment Acquisition
Kingston-upon-Thames : 4, 6 & 6a Clarence Street

  • 100% prime flagship retail bank investment
  • Passing Rent: £550,000 per annum
  • Net Initial Yield: 5.25%
  • Price: £9,820,000
Fawcett Mead have recently acted on the acquisition of this prime retail investment in Kingston-upon-Thames.

The property is situated in a highly prominent location on the pedestrianised Clarence Street and is let to the undoubted covenant of Barclays Bank UK PLC.

The purchase price of £9,820,000 reflects a net initial yield of 5.25%.

[read more]

September 2019
Acquisition, Letting & Sale
Royal Wootton Bassett : 37 High Street

  • On behalf of a private client, Fawcett Mead were delighted to complete the purchase, letting and subsequent investment sale of the above property.
A former NatWest Bank branch, the property was bought with vacant posession, let to Card Factory on a new 5 year lease at £28,750 per annum and sold at the Net Initial Yield of 6.5%. Card Factory were represented by Kearney Bell and the purchaser was represented by Savoy Stewart. [read more]

September 2019
Letting
West Ealing : 85-87 Broadway

  • Fawcett Mead are pleased to complete a new letting to Savers Health and Beauty on a 10 year lease, with a TOB in year 5, at £72,500 pax.

August 2019
Investment Sale
Ilford : 135 - 139 High Road

  • 100% prime retail property let to M&S for a further 69 years
  • Passing Rent: £267,300 per annum
  • Net Initial Yield: 4.1%
  • Price: £6,050,000
Fawcett Mead have recently acted on behalf of M&G on the sale of this prime retail investment in Ilford.

The sale price of £6,050,000 reflects a net initial yield of 4.1%.

Jonathan Mills commented: "We were delighted to complete this sale on behalf of M&G. Offering a very long income stream and situated in a location that stands to improve significantly over the coming years, the property generated significant levels of interest and demonstrates that for the right product, there is still a very strong market."
[read more]

August 2019
Investment Sale
Camden : 40/42 Parkway

  • Mixed-use investment on one of the main commercial thoroughfares in Camden
  • Passing Rent: £130,732 per annum
  • Net Initial Yield: 3.20%
  • Price: £3,825,000
Fawcett Mead are pleased to have sold this prime retail investment in the world famous London suburb of Camden. The property was sold on behalf of an overseas private investor to a private investor client of BNP Paribas.

The sale price of £3,825,000 reflects a net initial yield of 3.20%.

Graham Fawcett commented: "The vendor was delighted with the price achieved for this asset. Secure, London investments remain incredibly popular and this transaction highlighted this."

[read more]

August 2019
Investment Sale
Stratford-upon-Avon : 8-9 High Street

  • Prime retail investment in affluent world tourist destination, let to Starbucks and Waterstones
  • Passing Rent: £192,000 per annum
  • Net Initial Yield: 6.35%
  • Price: £2,850,000
Fawcett Mead have recently acted on behalf of an institutional client on the sale of this prime retail investment in Stratford-upon-Avon.

The sale price of £2,850,000 reflects a net initial yield of 6.35%.

Tom Heptonstall commented: "In the current climate we were pleased to have a competitive bidding process with the property eventually secured by an institutional purchaser. The property offered secure income, which is still attractive in the investment market."
[read more]

August 2019
Investment Sale
Truro : 18-20 Boscawen Street

  • Let to Wilko Retail Ltd on a new 15 year lease from 2017
  • Passing Rent: £420,000 per annum
  • Net Initial Yield: 7.57%
  • Price: £5,225,000
Acting on behalf of CBRE Global Investors, Fawcett Mead have sold the Wilko store in Truro to an institutional purchaser for £5,225,000 which reflects a NIY of 7.57%.

The property comprises 38,423 sq ft and is let to Wilko on a 15 year lease from January 2017 at a rent of £420,000 pa.

Richard Bashford commented: " This is a prime unit in Truro and was let on a recently granted 15 year lease to Wilko, which made it an attractive investment."

The purchaser was represented by CBRE.
[read more]

July 2019
Letting
Bristol : 62 Queens Road

Mountain Warehouse have taken on a new 10 year lease on the above, formerly Byron Burger, at a rent of £75,000 per annum, subject to a 5th year tenant break.

Fawcett Mead acted for the landlord, a private investor. Mountain Warehouse were represented by Avison Young.
[read more]

July 2019
Regear
Sheffield : 43 High Street

  • Fawcett Mead are pleased to complete a new 5 year lease to Bon Marche at £70,000 pax, on behalf of Atmore Group.

June 2019
Investment Sale
Lincoln : 203 High Street

  • 100% prime investment let to TSB Bank
  • Passing Rent: £107,000 per annum
  • Net Initial Yield: 6.1%
  • Price: £1,650,000
Fawcett Mead have sold this 100% prime investment on Lincoln High Street for £1,650,000 which reflects a net initial yield of 6.1%.

Graham Fawcett commented: "Prime investments in strong cities remain very popular and we secured a sale of this property on an off market basis."
[read more]

May 2019
Kingston : 30 Market Place

  • Fawcett Mead are pleased to complete a new letting to Rieker Shoes at 30 Market Place. The tenant has taken a new 5 year lease at £57,000 pax, with 3 mrf. Rieker Shoes currently have 11 other sites across the UK.

May 2019
Investment Acquisition
Dorking : 87-99 High Street

  • Recently renewed lease to Barclays Bank Plc for 10 years with planning permission over the upper parts and rear
  • Passing Rent: £96,500 per annum
  • Price: £2,350,000
Fawcett Mead have recently acted on behalf of a private investor in the acquisition of this prime retail investment in Dorking.

The property comes with planning permission to create 8 residential units including 2 town houses for a purchase price of £2,350,000.

Tom Heptonstall commented: "Our client was very pleased with the investment with the benefit of planning permission to create 8 residential units, which they are able to start developing immediately".
[read more]

May 2019
Investment Acquisition
Chichester : 19 North Street

  • Prime shop let to Holland and Barrett
  • Passing Rent: £94,700 per annum
  • Net Initial Yield: 6.61%
  • Price: £1,350,000
Fawcett Mead have recently acted on behalf of a private investor on the acquisition of this prime retail investment in Chichester. The purchase price of £1,350,000 reflects a net initial yield of 6.61%.

Graham Fawcett commented: "This is an excellent purchase for our client, who is delighted, a quality town let to a fantastic retailer who trades well".
[read more]

April 2019
35 High Street, Nantwich

  • Fawcett Mead are pleased to complete a new 5 year lease to WH Smith, on behalf of a private client.

April 2019
Investment Sale
Stratford-upon-Avon : Bards Walk

  • Prime retail investment in affluent world tourist destination
  • Passing Rent: £542,750 per annum
  • Net Initial Yield: 7.00%
  • Price: £7,200,000
Fawcett mead have recently completed on the sale of this prime retail investment in the historic market town of Stratford-upon-Avon, on behalf of Square Meter Asset Management.

The property is let to tenants including Pret A Manger, Pandora, Coventry Building Society and Coffee#1 and comes with residential planning permission for 7 units on the upper parts.

Tom Heptonstall commented: "We are delighted to have secured a strong price for our client in a challenging retail environment. The purchaser will be exploring widening the planning permission to create a larger residential scheme."
[read more]

April 2019
Letting
Twickenham : 2-4 King Street

  • Fawcett Mead are pleased to complete a new 10 year lease to Starbucks, on behalf of PPR Estates. The rent has stepped increases from £61,500 pax in year 1 to £65,000 pax in year 5.

March 2019
Investment sale
Loughborough : 1 Market Place

  • Let to the strong covenant of Costa Ltd
  • Passing Rent: £67,500 per annum
  • Net Initial Yield: 6.75%
  • Price: £945,000
Acting on behalf of Accrue Capital, Fawcett Mead has sold this retail investment to a private investor. The property occupies an extremely prominent corner location at the heart of the prime pitch and Costa had recently renewed. The purchase price reflects 6.75% NIY. [read more]

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
Lease Renewal
Minehead : 10 The Parade

  • Fawcett Mead were pleased to advise Card Factory in securing a new 5 year lease from completion.

March 2019
Investment Sale
Norwich : 31 Market Place

  • New 10 year lease to Accessorize in one of the UK’s most affluent cities
  • Passing Rent: £105,000 per annum
  • Net Initial Yield: 6.70%
  • Price: £1,475,000
Fawcett Mead have recently acted on the sale of this attractive retail investment in Norwich on behalf of Catalyst Capital.

The property occupies a prime trading position, benefiting from significant footfall and is let to Accessorize on a new 10 year lease.

The sale price of £1,475,000 reflects a net initial yield of 6.70%.

Nick Carvey commented: "Norwich is a regionally dominant retail centre with a loyal catchment, offering a diverse retailing environment. This shop sits in the very centre of the retail pitch and should prove an attractive long term investment.”
[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.

January 2019
Investment Acquisition
Billericay : Link House, 56-70 High Street

  • 89% of the income is secured to national multiples
  • Passing Rent: £247,800 per annum
  • Net Initial Yield: 7.16%
  • Price: £3,250,000
Fawcett Mead have recently acted on the sale of this prime high street investment in the attractive commuter town of Billericay.

89% of the income is secured to national multiples including Holland & Barrett, Boots and Specsavers. Our client recently developed the upper parts into residential use, which were sold off separately prior to the sale.

A sale price of £3,250,000 reflects a net initial yield of 7.16%.

Tom Heptonstall commented: "We were delighted to have acquired the property for our client and acted on the retail agency during the hold period. Our client also developed the upper parts into residential units from vacant office space before we successfully disposed of the freehold. This has generated a healthy profit for our client, which they are very pleased with."
[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
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]

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
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
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]