Addington Capital, the property investment and asset management company has continued to successful asset manage the properties acquired as part of the Retail Plus portfolio and announces the following deals:
New 10 year lease of 310 London Road, Waterlooville, Hampshire to Specsavers at £37,500 pax with a 13.5 months rent free. The unit was substantially extended by the landlords to cater for the tenants updated space requirements.
New 10 year lease with 5 year tenant only break to King Koby (Newcastle) Ltd Barbers Shop at 82 Grainger Street, Newcastle, at a rental rising from £35,000 pax to £40,000 pax over the first 5 years, with 12 months rent free.
New 10 year lease with 5 year tenant only break at 15 Kirkgate Leeds, to The Works Stores Limited at a rent of £100,000 pax with 6 months rent free.
Alex Wagstaff, partner at Addington Capital said, “We continue to actively manage the portfolio and secure new lease commitments from good quality national and regional retailers. The vacancy rate across the whole portfolio is low reflecting our ability to listen to our tenants and react to their changing occupational needs if required via relocations or extending their existing store like we have done for Specsavers in Waterlooville.”
