Pepkor brand Pep & Co have signed to take a 3,200 sq ft unit at the Octagon Shopping Centre joining recent lettings to Ben Storey Menswear, Revolve, That’s Entertainment and Fusion. Fawley Watson Booth act on behalf of Shopping Owners, Vixcroft.
Acting on behalf of Granwood Holdings, FWB have acquired the freehold interest in a prime retail unit in Harrogate let to Burtons until 2015. The unit occupies a very prominent position in the town, sandwiched between Marks and Spencer and Boots.
Fawley Watson Booth clients F&C REIT has been given the go-ahead for a multi-million-pound leisure development at the 170,000 sq ft Alhambra shopping centre in Barnsley, paving the way for the addition of a nine-screen cinema and five restaurants at the complex.
The development is expected to play a major part in the continued regeneration of Barnsley town centre, boost the night-time economy and bring greater vibrancy to daytime trade.
On behalf of Hermes Investment Management Fawley Watson Booth has agreed to terms to let units in St Johns Shopping Centre, Leeds to Yours, Romans and Evolution.Details of remaining units contact Michael Fawley or Matt Bredin at Fawley Watson Booth.
On behalf of Inception Holdings Fawley Watson Booth have agreed terms to double the size of Next’s in town representation in Bolton by relocating the retailer in a new 16,500 sq ft store as part of a £19 million pound of upgrading of Market Place Shopping Centre.
Category: Latest Deals, Valuations & Lease Advisory, General,
Fawley Watson Booth have concluded the negotiations on behalf of the tenant to renew the lease on Party Town’s shop on Ecclesall Road in Sheffield. Head of Lease Advisory Martin Foster confirmed that the tenant will benefit from a reduction in the rent from £22,500pa to £17,750pa – “the local students can look forward to buying their Freshers’ Week outfits for another few years yet”.
Building work to deliver the transformation of Bolton Market Place Shopping Centre is steaming ahead.
The beautiful historic market hall will be transformed within the next 12 months into a place for families, shoppers and visitors to Bolton to enjoy – a stylish retail, restaurant and leisure destination like no other in the North West.
Philip Dove of The Light Cinemas, the cinema operators, said: “This is one of the most exciting cinema projects we are currently involved in, not only in the UK but in Europe, this will truly be a different cinema experience and will give Bolton something to brag about”.
Jack Fultons trading as Frozen Value have relocated into substantially larger premises in Crossgates Shopping Centre taking the former Blockbuster unit on Station Road.Their current premises have been re-let to Pound Bakery – Fawley Watson Booth are letting agents for Praxis.
Warren James Jewellers have agreed to relocate within the Lanes to a prime corner unit at 12/14 Globe Lane and upmarket jewellers Peter Jackson have agreed to extend their lease through to 2022. Fawley Watson Booth act on behalf of F & C Reit on The Lanes Shopping Centre, Carlisle.
Fawley Watson Booth’s clients Moorgarth have secured planning and listed building consent for a £15 million development and refurbishment of Market Place Shopping Centre.BoltzConstruction will shortly providing a 9 screen cinema and the opening up of the Victorian Vaults below the shopping centre as a new restaurant and bar destination.
The amount claimable under a dilapidations claim doesn’t always equal the cost of the works needed to deal with the defects. Section 18(1) of the 1927 Landlord & Tenant Act restricts the claim to the amount of the landlord’s loss, or diminution in value. This valuation approach to claims is explained in an updated Information Paper issued by FWB, which you can download here.
Our Head of Lease Advisory & Valuation, Martin Foster also refers to a case from last year, where the court dismissed “finger in the air” valuations and called for a “reasoned” approach, concluding that the correct valuation approach produced a claim of £900,000 as opposed to the cost of works approach of around £3m.
Contact Martin for more details, or help formulating a reasoned approach to your dilapidations valuations.
Category: General, Shopping Centres, Valuations & Lease Advisory, Latest Deals,
Fawley Watson Booth can confirm that two more tenants have recently completed lease renewals at The Bridges Shopping Centre. Supernews and Lonsdale Boxing, both in external units on Market Square and Crowtree Road respectively, have both signed 5 year leases.
Head of Lease Advisory Martin Foster, who negotiated both deals for landlord Land Securities plc, commented “The Bridges has maintained strong occupancy levels throughout the downturn of the last few years, and the 5 year leases demonstrate retailers’ confidence in The Bridges as Sunderland’s pre-eminent shopping location as the economy moves into recovery phase”.
Fawley Watson Booth also act as joint leasing agents for the landlord.
Fawley Watson Booth are delighted to have been instructed as letting agents on behalf of Insight Retail Asset Management on the 130,000 sq ft Met Quarter, Liverpool located in the heart of Liverpool city centre. The Met Quarter houses a unique range of high end retailers and restaurants with tenants including Armani Exchange, MAC, Jo Malone, LINKS, Kurt Geiger, IIIamasqua, Paperchase, Carluccio’s, All Saints, Hugh Boss, Gieves & Hawkes and Jack Wills.
Bolton’s Market Place Shopping Centre has selected the Light Cinemas to operate a 9 screen multiplex cinema which is scheduled to open in early 2015. Planning approval for the cinema has been obtained and construction will begin within 6 weeks. The Market Place multiplex is the fourth UK cinema deal by the Light Cinemas and will prove to be a very exciting and significant addition to the offer of Market Place.
Fawley Watson Booth are letting agents on behalf of the shopping centre owners Moorgarth Group.
Jonny Peasgood has taken on the challenge of growing a moustache in the month of "Movember". Jonny is happy to support the movement to raise awareness of mens health issues , particularly prostate cancer and testicular cancer. Its early days but he is going strong.