Take a look at our recent news and wins
2024 Results
Omniplex Cinema Group, Wigan
Following our advice on Omniplex’s acquisition of several former Empire Cinemas across the UK in December 2023, Avison Young UK Retail are pleased to confirm Omniplex’s further expansion into the former Empire Cinema at Robin Leisure Park, Wigan, due to open in May 2024. This will see the 11-screen multiplex rebranded and refurbished with significant investment.
We remain acquisitive for further Omniplex sites across the UK, with their best in class cinema offer.
For further info please contact Jessica Salmon or Carys McCulloch.
99 Gresham Street, London
Avison Young Retail advised Lucky Castle GS99 I Ltd on the letting of 99 Gresham Street to The Real Eating Co.
For more info please contact Dan Kent or Lewis Sinclair.
2023 Results
Omniplex Cinema Group, UK
Advised and assisted Omniplex on the successful acquisition of 5 former Empire cinemas, in locations across the UK, which marks the beginning of the rollout of the Omniplex brand in GB. Established in 1991 Omniplex Cineam Group has grown to become the largest cinema operators in the Republic of Ireland and Northern Ireland.
For further info please contact Jessica Salmon or Carys McCulloch.
Boots, London
Advised and assisted Boots UK on the successful acquisition of its first beauty-only store in in Battersea Power Station and acquired a 6,682 sq ft new store in London, Queensway, W2.
For further info please contact Dan Kent.
Poundstretcher, North-West, Midlands, Wales and South West
Acquired 8 New Stores in the North West, Midlands, Wales and South West regions for Poundstretcher totalling approximately 100,000 sq ft. They wish to open one store a week in 2024.
For further info please contact Richard Jones.
Mailbox, Birmingham
Avison Young have fully let the canalside food and beverage location following the collapse of the usual national casualties in the sector. The lettings have reenergised the tenant mix and food and beverage offering in the scheme and were concluded with emerging bar and restaurants from the Birmingham market and include; EN Hereford Steak, Mayan, and The Woods.
For further info please contact Richard Jones or Sam Bellamy.
Argos, UK
Avison Young UK Retail disposed of 20 units of circa totalling 250,000 sq ft, saving circa £10m across Uk and Republic of Ireland.
For further info please contact Dan Kent or Rob Fraser.
Sainsbury’s, UK
Avison Young UK Retail agreed leasehold terms on 60,000 sq ft over 9 units across the UK.
For further info please contact Dan Kent or Rob Fraser.
Investment Disposal – Reigate
Avison Young | UK Retail have advised QUADRANT ESTATES LLP on the sale of 34-36 High Street Reigate to Sarbon Estates, extending to 6,390 sq ft located in a prime pitch position occupied by Boots.
For further info please contact Lewis Sinclair.
Sue Ryder
Avison Young were appointed in 2023 to assist Sue Ryder with their retail portfolio, predominantly looking after lease renewals, rent reviews and strategic store acquisitions .
With over 400 stores throughout the UK Sue Ryder has one of the largest retail property estates in the charity sector.
Our remit is to reduce cost and lease exposure giving the estate more flexibility.
For further info please contact Rob Fraser.
Quadrant / AB CarVal – South-East and London
Disposed of 4 High Street Investments, let to Boots UK in the South-East and London, totalling £6.6m.
For further info please contact Lewis Sinclair.
BFT, London
Acquired new sites in Battersea and Hackney for the international gym operator and helped curate their UK rollout strategy for 2024 and beyond.
For further info, please contact Lewis Sinclair.
Carpetright, Tunbridge Wells
Avison Young Retail have acted for Wesleyan Assurance Society in acquiring Carpetright, Tunbridge Wells in an off market transaction. The price paid was £3.1 million, reflecting 8.37% NIY. XPROP acted for the vendor, Columbia Threadneedle Investments. The unit sits adjacent to the Furniture Village which Wesleyan acquired in March 2023, with Avison Young Retail advising.
For further info, please contact Jack Lloyd.
Hobbycraft, UK
Avison Young UK Retail have advised Hobbycraft on 3 new store acquisitions. Wincheap Retail Park (Canterbury), Lakeside Retail Park (Thurrock) and Robin Retail Park (Wigan) have all opened successfully during 2023.
For further info, please contact Mark Phelps.
Holland & Barrett, Exeter
Avison Young UK Retail acquired a 2669 sq ft flagship store for H&B on Exeter High Street.
For further info, please contact Chris Wright.
Furniture Village, Royal Tunbridge Wells
Avison Young Retail have acted for Wesleyan Assurance Society in acquiring Furniture Village, Kingstanding Way, Royal Tunbridge Wells for a price of £7.2 million, reflecting 7.49% NIY. The 24,949 sq ft property is let to December 2033 at a recently rebased passing rent of £575,000 per annum (£23.05 per sq ft). Montagu Evans acted for the vendor, CBREIM.
For further info, please contact Jack Lloyd.
Halfords, Slough
Slough Borough Council, represented by Avison Young, have sold the freehold of Halfords, Bath Road, Slough to Buccleuch Estates. The property totals 11,501 sq ft and is let to Halfords on a lease expiring in December 2027 at a rent of £250,000 per annum, reflecting £21.74 per sq ft.
Buccleuch Estates paid a price reflecting 5.65% NIY.
For further info please contact Carys McCulloch.
Wickes, Bedford
Avison Young Retail have acted for LGIM (British Steel Pension Fund) on the successful disposal of Wickes, Riverfield Drive, Bedford for a price of £5.12 million, reflecting 6.35% NIY. The 26,036 sq ft property is let to June 2030 at a passing rent of £347,000 per annum (£13.33 per sq ft). It was purchased by an overseas investor, represented by Koopmans.
For further info, please contact Jack Lloyd.
Aldi, Droitwich
AY, on behalf of Mayfair Capital, have sold the Aldi in Droitwich. The property was let to Aldi with 11 years unexpired and 5 yearly fixes at 2.5%. The next fixed uplift was topped up by the vendor and the purchaser paid £4.317 million for the property reflecting 6.4% on the topped up rent.
For more information please contact Jess Salmon.
Odeon Cinema, Basingstoke
Avison Young were pleased to act for Slough Borough Council in the disposal of Odeon Cinema, Basingstoke for £3.62m.
The property comprises a purpose built 10-screen multiplex cinema, totalling 39,197 sq ft, let to Odeon Cinemas Ltd with lease expiry in September 2026. The annual rent payable is £611,245, reflecting £15.59 per sq ft. The purchaser is a private investor and was unrepresented in the deal.
For further info, please contact Carys McCulloch.
Wickes, West Street, Wolverhampton
Avison Young were pleased to advise Slough Borough Council in the disposal of the Wickes in Wolverhampton for £6.8m.
The property comprises a purpose built solus retail warehouse unit, totalling 41,015 sq ft, in a prominent pitch just off the A449. The unit is let to Wickes Building Supplies Ltd with lease expiry in October 2029. The current passing rent is £482,640 per annum, which reflects £11.77 per sq ft.
The purchaser is a private investor who was represented by Fulwell Capital.
For further info, please contact Carys McCulloch.
Waitrose, 129 Stoke Road, Gosport
Avison Young were pleased to advise Slough Borough Council in the disposal of the Waitrose in Gosport for £1.9m.
The property comprises an accessible, purpose built, semi-detached 2-storey foodstore, totalling 23,957 sq ft across ground and first floors. The unit is currently let to Waitrose Ltd , who are paying a rent of £250,000 per annum (£10.44 per sq ft), with a lease expiry in July 2025.
The purchaser is a private investor and was unrepresented in the deal.
For further info, please contact Carys McCulloch.
Deichmann, Oxford
Avison Young UK Retail acquired a 5,273 sq ft unit on Templars Shopping Park, Oxford.
For further info, please contact Chris Wright.