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| The past few months have been a busy time for Douglas Stevens & Company. Please feel free to contact the relevant surveyor to discuss any particular transaction in further detail. |
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Douglas Stevens & Company act for Danish Investors and are actively seeking well let investments (20 year passing income) in the retail, leisure and nursing home sectors.
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| Nick Cook
020 7514 8215 |
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Primark Stores - Douglas Stevens & Company have acquired two stores for Primark in Blackburn and Ealing. The Blackburn store comprises 50,000 sq ft and the Ealing store, 70,000 sq ft. The Primark store in Ealing is due to open in May 2008 with the Blackburn property opening in Easter 2010.
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| Nick Cook
020 7514 8215 |
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Public House Sales - We have also sold two public houses let to JD Wetherspoons and Mitchell & Butlers on 25 year leases from September 2000 with rents payable of £290,000 per annum. The sale price was £5.6 million which reflected a net initial yield of 4.9%.
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| Nick Cook
020 7514 8215 |
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| Goldhawk Recording Studios - On behalf of Estatum we have disposed of Goldhawk Recording Studios to private investors for £4.9 million reflecting a net initial yield of 6.32%. The property was originally let to Sanctuary Recording Studios who have recently been taken over by Universal Studios. The property was held on a 20 year lease from the 24th March 2003. |
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| Nick Cook
020 7514 8215 |
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Crystal Peaks Shopping Centre, Sheffield - Douglas Stevens & Company acted on behalf of Hermes Real Estate in the letting of Unit K, Crystal Peaks Shopping Centre, Sheffield to Body Shop Plc who took a 1,400 sq ft in the East Mall adjacent to the new Bay Trading store. Letting agent, Chris Hovington commented “this is an encouraging letting for the scheme and in particular the East Mall and Body Shop will sit extremely well adjacent to Bay Trading and opposite New Look and Peacocks”.
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| Chris Hovington
020 7514 8212 Douglas Stevens
020 7514 8206 |
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| 55 Baker Street - Douglas Stevens & Company acting on behalf of London & Regional on their new development known as 55 Baker Street have now exchanged with Costa Coffee who are taking a 2,000 sq ft store on the North Block and are planning to open in early May 2008. This is an excellent letting for the development and the first of many to exchange contracts with a number of new retailers and A3 operators committing to the scheme very shortly. Associate Director, Chris Hovington commented “Costa Coffee is the first of many fantastic operators to commit to the development and once we have a number of new retailers, restaurants and the health and fitness centre open this will be a very busy scheme with over 5,500 office workers in the building”. |
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| Chris Hovington
020 7514 8212 Douglas Stevens
020 7514 8206 |
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| On behalf of Howard Holdings plc we have completed a transaction to upsize the River Island store to 15,000 sq ft within The Whitgift Centre, Croydon. This is part on an ongoing asset management initiative to improve tenant mix and Zone A values within the centre. |
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| Richard Mills
020 7514 8203 John Davies
020 7514 8209 |
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Acting on behalf of Muffin Break we have recently acquired a unit within the County Square Shopping Centre, Ashford and are looking for a further 10/15 units in 2008. Unit sizes should be between 900 and 1,200 sq ft, throughout the UK.
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| Richard Mills
020 7514 8203 |
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We have recently been instructed by Propinvest to advise on the letting and asset management of the recently purchased St Georges Shopping Centre in Harrow. Anchor tenants include Woolworths, Boots, TK Maxx and H&M.
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| Richard Mills
020 7514 8203 |
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| Boston Shopping Park – DS & Co have let 10,000sq ft of space to Home Bargains complimenting the existing line up of TK Maxx,Sports Direct,Netto,Gala and Bathstore. Since Home Bargains opening a healthy increase in car park usage/footfall has been reported on the Park. DS & Co have two units left to let with unit sizes of between 1,500 sq ft and 11,000sq ft with quoting rents from £15 psf. |
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| Sean Prigmore
020 7514 8204 |
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DS & Co on behalf of Realis Estates/Comic Enterprises Limited have acquired a bulky goods retail warehouse investment on Birmingham Road, Wolverhampton in an off the market deal. The property which has 3 years left on a lease to B&Q has been sublet to Matalan. The property has adjacent undeveloped land with potential to redevelop up to 40,000 sq ft of retail space opposite the City`s prime retail park, St Johns.
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| Sean Prigmore
020 7514 8204 |
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| DS & Co on behalf of Hawkstone Properties plc have acquired Chadds Department Store in Commercial Street, Hereford for an undisclosed price. Hawkstone will be subdividing the property into 5 or 6 prime retail units totaling some 50,000 sq ft. The family owned store has traded within the city for nearly 80 years and will close its doors for the last time early July 2008. The acquisition was handled by Sean Prigmore who commented “it is a shame that another independent department store is to close but we are in a rapidly changing retail world and it is increasingly difficult for independent retailers to retain their competitive edge. Hawkstone have acquired a substantial amount of prime real estate within a premier retail town. We are expecting strong retail demand for the space and hope to bring some exciting new names to Hereford.” |
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| Sean Prigmore
020 7514 8204 |
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| 96 High Road, Ilford - Investment sale on behalf of private clients let to Vodafone for 10 years from August 2007 subject to a break at the fifth year at £100,000 pax.Sold to a private purchaser for £1.576million. |
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| John Davies
020 7514 8209 |
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