30 July 2010
Here’s a round-up of the latest deals from NB Real
Estate, part of Capita Symonds…
NB Real Estate secures Cambridge shop sale for
£1.695m
Acting on behalf of
Royal London, NB Real Estate has completed the sale of a prime
freehold shop in the heart of Cambridge city centre to a private
property company for £1.695m.
The property at 29 Petty Cury is in a prime
location directly opposite the entrance to Lion Yard which leads to
the recently opened Grand Arcade, Cambridge’s latest shopping
centre which has further increased the city’s prestige as a retail
destination.
Cambridge is one of the UK’s most affluent
cities. In 2009, a survey of UK towns and cities found that most
had witnessed falling consumer expenditure. Cambridge, however, saw
a 13.3% increase which put it in the UK’s top 4%.
The Petty Cury premises are arranged over
ground and three upper floors and comprise a small, attractive
retail unit with ancillary space above. The property is currently
being leased to T-Mobile (UK) Ltd until August 2014 at a passing
rental of £87,000 per annum.
The property’s purchase price of £1.695m will
show a net initial yield 4.85%. Dexter Wood & Partners
represented the purchaser.
This is a significant letting for NB and the market and one which will see new rental levels set in South London
Bermondsey Warehouse Win
Acting on behalf of Venaglass Limited, NB Real Estate has
successfully let a 58,000 sq ft warehouse on Bermondsey Street,
south east London, to an undisclosed tenant.
The letting represents the largest warehouse
transaction to have been completed in South London in the past two
years, achieving a rental level of over £12 per sq ft on a new 15
year lease (no breaks).
Andrew Smith, NB Real Estate, said: “This is a
significant letting for NB and the market and one which will see
new rental levels set in South London.”
Simon Harrison Lets Bartholomew Close
Acting on behalf
of a private investor, NB Real Estate and Daniel Watney have let 54
Bartholomew Close in the City of London to Simon Harrison Ltd, one
of the UK's leading fashion jewellery designers.
Simon Harrison Ltd relocates from its Covent
Garden studios to the self-contained 11,345 sq ft building, which
is situated near to Smithfield Market and St Paul’s.
The company has taken a ten year lease on the
new building with a five year option to break at an average rent of
£160,000 per annum. The deal also includes nine months rent
free.
Calton & Co acted for the tenant.