Douglas Stevens - A Commercial Property Specialist

Latest News:

20/2/2012: DS & Co Sell Investment at Swiss Cottage

Acting on behalf of Galliard Homes, Douglas Stevens & Co have sold a retail investment on Winchester Road, Swiss Cottage for £1.675m. The block was sold to a private purchaser and the total income £122,850. For further information contact Dominic Chambers or Jamie Simister.

20/2/2012: Brentwood Investment Sold for Private Client

Acting on behalf of a private investor, Douglas Stevens & Co have sold 26-28 High Street and 4-14 St Thomas Road, Brentwood for a figure reflecting an 8% Net Initial Yield. For further information contact Dominic Chambers or Jamie Simister.

1/2/2012: RESOLUTION PURCHASES OCEAN TERMINAL, EDINBURGH

Acting on behalf of Resolution, Douglas Stevens & Company jointly with Franc Warwick has successfully purchased Ocean Terminal Shopping Centre on Edinburgh’s waterfront. Ocean Terminal, a 420,000 sq ft enclosed shopping centre, was acquired for circa £90 million at a yield of approximately 7.5%.

The retail element is anchored by Debenhams ( 100,000 sq ft ), BHS, Gap, H & M Hennes, Superdry, FCUK, White Stuff and HMV.

The leisure element is anchored by a 12 screen Vue Cinema, Zizzi, Frankie & Bennys, Hand Made Burger and Pizza Express. There are 1,600 free car parking spaces. The Royal yacht Britannia sits alongside and is a substantial tourist attraction.

Resolution said the acquisition, which was funded by Lloyds Banking Group, is in line with its strategy of adding value to investments through asset management. Resolution will work with Forth Ports to promote and bring forward the development of the 9-acre Waterfront Plaza site that fronts the centre, forming part of the wider harbour and Leith docks in Edinburgh. The master plan currently allows for development comprising more than 1 million sq ft of commercial, leisure, retail and business space on Waterfront Plaza.

Douglas Stevens & Co will also be retained as the letting agents on the mall along with CBRE.

Charles Hammond, Chief Executive of Forth Porths said “whilst Ocean Terminal is a valuable asset it is clear that its future will be better served under new ownership”.

Nigel Robson, Partner at Resolution Property said “leveraging off its current success and the affordable rents which significantly undercut other retail locations in Edinburgh we are confident that we can take Ocean Terminal forward and further enhance the retail and catering offer”.

For further information on this transaction, future asset management initiatives and availability of retail and restaurant units please do not hesitate to contact either Richard Mills or Douglas Stevens.

23/1/2012: 44-48 Borough High Street London SE1

Kinleigh Folkard & Hayward have recently opened new branch premises comprising 2,010 sq ft over ground and basement levels in Borough High Street as part of an ongoing expansion programme. Douglas Stevens & Co acted on their behalf in securing a 15 year lease at a commencing rental of £60,000 per annum exclusive.

For further information please contact Trevor Pyne

23/1/2012: Three Lettings in Bull Street, Birmingham for PropInvest

Douglas Stevens & Co have been successful in securing three new lettings on behalf of PropInvest on Bull Street. The retailers include Harvey & Thompson, Speedy Cash and Wok & Go. Martineau Place, Birmingham goes from strength to strength with the addition of these retailers into the scheme, with more lettings in the pipeline on Corporation Street.

16/1/2012: Barclays now open in MIDDLESBROUGH

Douglas Stevens & Co are pleased to announce the completion of a new letting to Barclays who are now open following substantial reconfiguration on the Corporation Road entrance to The Cleveland Shopping Centre, Middlesbrough. Acting on behalf of the previous owners, The Mall, a rent of £345,000 pax was agreed on the 14,251 sq ft store, with the tenant taking a 20 year lease. DS & Co are also pleased to announce that following the sale of the shopping centre to F&C they have been retained as letting agents.

15/1/2012: DS & Co to exhibit at Completely Retail Market Place event in May 2012

Douglas Stevens & Co will be attending and exhibiting at the inaugural Completely Retail Market Place event being held on 1st May, at Old Spitalfields Market, London.

This unique event that is all about making retail property deals happen. The event will provide a conducive and accessible environment for retailers, landlords and agents to do business. It’s set to be the largest and most relevant gathering of the UK’s retail property deal makers ever. So come see us at Stand 34!

13/1/2012: Douglas Stevens & Baronsgate Estates acquire two centres in BIRKENHEAD

Douglas Stevens & Co, acting jointly with Baronsgate Estates, have acquired the two adjacent shopping centres The Grange and The Pyramids at Birkenhead on behalf of Mars Pension Trustees Limited (La Salle Investment Management) for £70 million.

The Grange is an uncovered single level centre comprising 466,687 sq ft arranged in three malls with a 495 space multi-storey car park.

The Pyramids is a two level covered shopping centre linking to The Grange and Grange Road and extends to 143,735 sq ft anchored by Marks & Spencer, Next, River Island and Republic and served by a 495 space multi storey car park. Together the two centres comprise 62% of the total retail offer in Birkenhead.

12/1/2012: Douglas Stevens & GCW acquire Tower Ramparts Shopping Centre, IPSWICH

Douglas Stevens & Co, acting jointly with GCW, have acquired Tower Ramparts Shopping Centre, Ipswich for an undisclosed price on behalf of Mars Pension Trustees Limited (LaSalle Investment Management).

This covered centre is arranged on two trading levels comprising 128,000 sq ft and is anchored by Boots.

12/10/2011: New Letting to Poundland

Douglas Stevens & Co are pleased to announce the completion of a new letting to Poundland of the former TJ Hughes department store in Stoke-on-Trent. Acting on behalf of Aberdeen Asset Management, a rent of £385,000 pax was agreed on the 36,000 sq ft store, with the tenant taking a 15 year unbroken lease.

3/10/2011: Boots Block Sells For £76m

Alexan has sold Sedley Place on Oxford Street, W1 to Scottish Widows Investment Partnership Property Trust for £76 million, reflecting a yield of 4.27%.

The property is fully let to eight tenants, with around 85% of the income from Boots.

CB Richard Ellis advised Alexan, Angermann Goddard & Loyd and Douglas Stevens advised SWIP.

26/9/2011: BCSC Conference 2011

Douglas Stevens & Co enjoyed another successful BCSC conference in Manchester, promoting the 32 Shopping Centres throughout the UK where they act for various landlords.

One of the highlights was the launch of CitySentral in Stoke City Centre, a 650,000 sq ft regional shopping centre due to open in 2015. The agreement of heads of terms with Marks and Spencer and Vue was announced at the conference.

5/9/2011: Marks & Spencer, Crystal Peaks, Sheffield

Marks & Spencer have now exchanged on a new 60,000 sq ft store which is located on the North Walk at Crystal Peaks Shopping Centre, Sheffield, which will now provide a large second anchor to the scheme to join Sainsbury’s who already trade within the scheme.

The store will boost M&S’s presence within the region and will offer a full food, clothing, homeware, gifts and an M&S café. Along with other recent lettings within the scheme which include Camille Lingerie, H3G, That’s Entertainment, Betfred, Love Coffee and an upsize of the existing Halifax Bank this will further enhance the shopping centre.

Marks & Spencer took a new 25 year lease and started fitting out the store in late 2011 with a planned opening of mid-2012.

Douglas Stevens & Company acted for the landlord, HREIML and McMullen Wilson acted for Mark & Spencer