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]

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]

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
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]

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
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 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
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]

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 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 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
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
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
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
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]

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
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]

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 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
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 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
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
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]

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
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
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
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
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
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
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
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
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 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]

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]

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]