Opinions.

Woolworths 0 : 99p Stores 3

July 2009

Acting on behalf of three different landlords GCW has recently concluded a hat trick of lettings on former Woolworth’s stores to 99p Stores.

The first of these in Muswell Hill, 412 The Broadway where a rental of £125,000 pax was achieved for a ground floor unit of 8,500 sq ft with a similar amount of space at first and second floor. GCW acted jointly with James Andrew International in this instance.

Secondly GCW acting on behalf of George Cross Trust Fund arranged a letting of 128/130 Station Road, Edgware at a rental of £75,000 pax for a new 10 year lease. The premises benefitted from a ground floor sales area of 3,671 sq ft with 3,860 sq ft of first floor storage. GCW acted jointly with Strettons.

Thirdly acting for Habro GCW have let 43-49 Pier Avenue, Clacton at a rental of £200,000 per annum. The premises benefit from a ground floor sales area of 14,200 sq ft with 14,000 sq ft of back up space on basement and three upper floors. GCW acted jointly with GVA Grimley.

In all instances a minimum of 10 year lease terms were secured with rent free periods ranging between 3 and 9 months