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2024 Results
Boots Opticians – York
Avison Young UK Retail is pleased to announce the successful acquisition of a new unit for Boots Opticians located on Coney Street, York. The space which encompasses both ground floor and basement, totals 3,325 sq ft. The unit features an enhanced floorplate and modern fit out.
For more info please contact Dan Kent, or Lewis Sinclair.
Pure Gym & CVS Vets, Dover
Avison Young ÙK Retail are delighted to have advised AMK2 Real Estate on the freehold acquisition of the Pure Gym & CVS Vets in Dover.
The recently refurbished purpose-built retail warehouse comprises two units totalling 14,912 sq ft with a total passing rent of £200,000 pa (£13.41 per sq ft) and a WAULT of circa 9 years.
For further info please contact Jack Lloyd.
Sainsbury’s – Homebase Acquisitions, UK
Avison Young UK Retail are very proud to have advised our client Sainsbury's on probably the biggest single occupational transaction of 2024!
Sainsburys have completed a transaction to acquire 11 retail stores from Homebase across the UK with a plan to convert all of them to food stores.
This is a significant investment for Sainsbury's and an exciting move to drive their growth.
Avison Young Retail team are delighted to have been retained by Sainsburys in negotiating and delivering this complex transaction in a very tight timescale.
For more info please contact Dan Kent, Rob Fraser or Scott Mitchell.
Quadrant/AB CarVal, Weymouth
Avison Young UK Retail were pleased to advise Quadrant/AB CarVal on the sale of 81-82 St Mary Street, Weymouth.
For further info please contact Chris Wright or Dan Kent.
Sainsbury’s, Swindon
We were pleased to have successfully completed a strategic land sale on behalf of our client Sainsbury’s at Shrivenham Road, South Marston, Swindon totalling 9.7 acres adjacent to the Sainsbury’s superstore, as part of the new Eastern Village development plan.
For more info please contact Dan Kent or Rob Fraser.
Waitrose, Chipping Sodbury
Avison Young UK Retail have advised Wesleyan Assurance Society in the off-market acquisition of the Waitrose in Chipping Sodbury.
The property comprises a modern foodstore, purpose built by the retailer and is let for a further 19.5 years with 5 yearly CPI linked rent reviews. The price paid for the freehold interest was £11.28 million, reflecting 5.25% NIY. Forge acted for the vendor.
For further info please contact Jack Lloyd or Scott Mitchell.
Boots Hearingcare, Merry Hill, Dudley
Successfully completed a new lease on behalf of Boots Hearingcare, securing a unit at The Merry Hill Shopping Centre, Dudley.
For more info please contact Lewis Sinclair, Dan Kent or Rob Fraser.
HSL Chairs, Solhill
On behalf of HSL Chairs, Avison Young Retail have successfully completed on the acquisition of their store in Solihull, a great transformation of the former American Golf unit.
For further info please contact Richard Jones or Sam Bellamy.
Mailbox, Birmingham
We were pleased to introduce a new F&B operator, Dil Se to Level 2 at The Mailbox, Birmingham, the latest addition to the F&B line up.
For further info please contact Richard Jones or Sam Bellamy.
Clough Road Retail Park, Hull
Avison Young UK Retail have acted for Columbia Threadneedle Investments in acquiring the freehold interest in Clough Road Retail Park in Kingston-upon-Hull. The park is fully let to Dunelm, JD Gyms, Carpetright and Tapi with an average rent of £9.58 per sq ft. The price paid was £6.9 million, reflecting 11.52% NIY. Stockford Anderson acted for the vendor.
For further info, please contact Jack Lloyd.
Walsall Council, Saddlers Centre Walsall
Avison Young Retail have worked with Walsall Council to deliver the £11.4m redevelopment & repositioning of The Saddlers Centre; new public realm and improved connectivity of the bus and train stations in Walsall Town Centre.
We continue to work with Walsall Council to provide strategic property advice on all aspects of the project as part of a wider multidisciplinary team.
For further info please contact Richard Jones.
Omniplex Cinema Group, Sunderland
Avison Young UK Retail are pleased to confirm Omniplex’s further expansion, opening a cinema at Sunniside Leisure, Sunderland and bringing their brand of cinematic experience to the North East of England, due to open in May 2024.
We remain acquisitive for further Omniplex sites across the UK, with their best in class cinema offer.
For further info please contact Jessica Salmon.
Argos, Hull
Avison Young UK Retail successfully completed on the surrender of the lease at Anlaby Retail Park on behalf of Argos totalling 9,530 sq ft, with a passing rent of £188,670 pa, due to expire on 19th September 2025. This resulted in Sainsbury’s making significant occupational savings.
For further info please contact Dan Kent or Rob Fraser.
Mountain Warehouse, Cornwall acquisitions
Acting on behalf of Mountain Warehouse, Avison Young UK Retail have acquired two former Wilko premises in prime pitch in Truro and Falmouth. Mountain Warehouse were already trading successfully in both of these locations but they were both significant upsizes. Truro opened before Easter and Falmouth opens on 11th May. Avison Young are also instructed on the disposal of thew previous Mountain Warehouse shops.
For further info please contact Chris Wright.
Boots UK, Lincoln
Acting on behalf of Boots UK, Avison Young UK Retail successfully completed on the freehold sale of 311-312 High Street Lincoln, with vacant possession on the prime High Street, with Boots having relocated to a new store opposite.
For more info please contact Dan Kent or Lewis Sinclair.
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.
Quadrant / AB CarVal, Lymington
Avison Young UK Retail were pleased to advise Quadrant / AB CarVal on the sale of 35 High Street, Lymington.
For more info please contact Dan Kent or Lewis Sinclair.
Argos, Bridgend
Avison Young UK Retail successfully completed on the surrender of the lease at Unit 2, Parc Plaza, Waterton Cross, Bridgend, on behalf of Argos, totalling 15,015 sq ft with a passing rent of £184,320 pa, due to expire on 31st May 2025. As a result Sainsbury’s made significant occupational savings.
For further info please contact Dan Kent or Rob Fraser.
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.
Argos, Sheffield
Avison Young UK Retail have successfully completed on the surrender of the lease at 1 Kilner Way, Sheffield on behalf of Argos totalling 15,456 sq ft, with a passing rent of £293,113 pax, due to expire 23rd March 2026. As a result Sainsbury’s made significant occupational savings.
For further info please contact Dan Kent or Rob Fraser.
Argos, Wrexham
Avison Young UK Retail have successfully completed the surrender of the lease at Plas Coch Retail Park, Wrexham on behalf of Argos totalling 19,407 sq ft, with a passing rent of £130,000 pa, due to expire on 28th September 2025. This resulted in Sainsbury’s making significant occupational savings.
For further info please contact Dan Kent or Rob Fraser.
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 Cinema 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 Mark Phelps.
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.
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 Jack Lloyd.
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 Jack Lloyd.
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 Jack Lloyd.
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 Jack Lloyd.
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 Jack Lloyd.
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.
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 22 units of circa totalling 250,000 sq ft, saving circa £8m 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.
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.