Downing Associates have let Unit 5 Thames Edge, a 5,940 sq ft Restaurant unit on a new 20 year lease. The Soiree Restaurant and Bar is currently being fitted out and is due to open in late Spring 2011.

Downing Associates have sold the freehold interest in the above premises to a private investor for £217,000 which reflects at an initial yield at 8.8%. The property is let to independent retailer on a 10 year lease from Oct 2010 at a curent rental of £20,000 p.a.x.

Downing Associates acting on behalf of Birchwood Commercial have sold the freehold interest in 105-107 Queens Road to a private invester.

The property let to Savills, Carphone Warehouse and Reds Bar and Diner was sold for £1,950,000 representing an initial yield of 6.8%.

Downing Associates acting on behalf of the landlord has let the former Woolies in Ashford to Sainsburys Local.

Sainsburys represented by Harmer Ray Hoffbrand took a new 15 year lease at an initial rental of £36,000 p.a.

 

Downing Associates have recently accquired a new unit in the Riverside Shopping Centre for The Cornish Pasty Company.

The Cornish Pasty Company currently trade from seven shops and is planning to continue to expand throughout UK. Downing Associates are retained in respect of future acquisitions.

Downing Associates acting on behalf of LS Reit Surrey have sold the freehold interest in 215 High Street Dorking.

The property with was sold to a Independent Owner/Occupier for £415,000.

 

Downing Associates has agreed a rent review on behalf of Subway at 32 Stonehills Welwyn Garden City.

The Landlord originally proposed £38,000 per annum representing a 35% increase but subsequently settled at a figure of £30,200 per annum after negotiation.

Naturhouse is the leading company in the dietetics and nutrition sector in Spain,and is now represented in fifteeen countries throughout the world following the acquisition of their first UK Store.

Naturhouse represented by Cushman and Wakefield took a new 10 year lease at Unit 4 The Atruim at an initial rental of £20,000 p.a. Downing Associates acted for the Landlord.

Downing Associates acting on behalf of Hamsey Beds have taken a 1500 sq ft unit at the entrance to B&Qs Flagship New Malden Store.

Downing Associates are retained by Hamsey Beds, so please do not hesitate to contact us if you have any sites that you feel may be of interest.

Downing Associates acting on behalf of Surrey and Berkshire News have sold the freehold interest in 134 High Street Esher.

The property with Development potential was sold to private individuals for £215,000.

Downing Associates acting on behalf of Birchwood Commercial have sold the freehold interest in 5 Church Street Weybridge.

The property let to Dignity Funeral PLC until Feb. ’17 was sold for £527,000 representing an initial yield of 6%.

The Moneyshop have taken a new lease at 80 Ballards Lane. Downing Associates acting on behalf of the Landlord secured Moneyshop on a ten year FRI lease.

Downing Associates, acting on behalf of Subway, have recently acquired a 871 sq ft shop unit at 268 High Street, Guildford.Subway took an assignment of the current lease expiring 2016 at passing rent of £40,000 p.a.x. The Subway chain has ambitious expansion plans in the UK and Ireland and by 2010 the company aims to have opened over 2,000 outlets.

Downing Associates are retained by Subway, so please do not hesitate to contact us if you have any sites that you feel are of interest.

Costa Coffee have taken a lease at 33 Church Road and will be the first national coffee shop retailer in the town. Downing Associates acting for the Landlord, TBE Southern, secured the letting to Costa Coffee after successfully agreeing a surrender of the existing lease on the premises with the previous tenant The Co-operative Society.

Two further units have been created, one let to William Hill and marketing in respect of the third unit continues.

 

Downing Associates has agreed a rent review on behalf of The West Cornwall Pasty Co at Unit 1 Covent Garden Market.

The relevant date was the 15th August 2008. The Landlord originally proposed to increase the rent to £215,000 per annum but subsequently settled at a figure of £187,500 per annum after negotiation.

 

In many locations there has been considerable growth in retail rents over the last few years which is leading to many tenants facing substantial increases in rents on review when paradoxically trading conditions are getting tougher.

Whilst any reviewed rent should reflect the open market value of the premises at the date of the review, Landlords, particularly in an uncertain market, will attempt to rely on evidence from the top of the market and hence their aspirations for an increase in rent are often over optimistic. Our ability to source and analyse comparable rental evidence, and our expert evaluation of advantages and disadvantages of individual property puts us into a position where we can challenge the opinion of the rental value proposed by the landlord.

We assist many tenants by keeping them appraised of the rental value of their premises during the period between rent reviews, as this ensures that they can make business decisions with the knowledge of an estimate of the rent upon review.

So even if your rent review is sometime away, please do not hesitate to contact Downing Associates and we will be happy to provide a free initial consultation and give you an indication of the type of rental figure you should provide for from the forthcoming review date.

Coffee Republic recently took an assignment of the lease at 79a The Strand, which was previously occupied by The West Cornwall Pasty Co.

Interestingly, Downing Associates originally acquired the lease from Coffee Republic in 2001, hence the matter has gone full circle.

 

Downing Associates acting on behalf of Argenteus have successfully surrendered their lease conditional on a regrant to Muse who are backed by Arcadia.

Downing Associates were instrumental in securing the interest from Muse and agreeing the deal with the Landlord Lend Lease.

 

Rescom Building Ltd have purchased the freehold interest in 22-30 North Street, Downing Associates acted for Rescom. The building had planning consent to create 2,500 sq ft of retail space at ground floor with a residential over

.Rescom are already on site undertaking the conversion work, and Downing Associates is currently marketing the retail space.

The West Cornwall Pasty Company who have been successfully trading in North Street, Guildford for a number of years have acquired the adjoining premises to their existing one. Ken Cocking, Director of West Cornwall Pasty Company commented, “Downing Associates presented us with the opportunity to expand the size of our operation in Guildford, and in particular this will lead to a creation of a new seating area for customers. Downing Associates provided an outstanding level of service leading to a successful result.”

Downing Associates acting on behalf of Staines property have sold the freehold interest in 111 High Street Staines.

A purchase price of £2,825,000 representing an initial yield of 6% was achieved.

To find out more about this particular news item please contact Nick Downing.

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Downing Associates acting on behalf of the West Cornwall Pasty Company have acquired the Leasehold interest in 2 Cricklade Street, Cirencester.

The unit amounts to 1,157 sq ft at a current rental of £30,000 p.a.x. and a premium of £40,000.

To find out more about this particular news item please contact Nick Downing.

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Downing Associates have recently let 6,010 sq ft of retail space at Oaklands House, Solartron Road, Farnborough. Woodhouse Furnishings have taken a new 5 year lease at a rental of £35,000 p.a.x.

To find out more about this particular news item please contact Nick Downing.

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Downing Associates have agreed terms for a new lease in respect of 60, West Street, Horsham, West Sussex on behalf of the West Cornwall Pasty Company.

The property is held on a new 15 year full repairing ensuring Lease at a rental of £38,000 p.a.x. and an initial rent free period was negotiated.

To find out more about this particular news item please contact Nick Downing.

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Downing Associates on behalf of the West Cornwall pasty Company have acquired the Leasehold interest in 1 Northbrook Street, Newbury, Berkshire.

A new 15 year lease at a rental of £75,000 p.a.x. and an initial rent free period of three months was negotiated.

To find out more about this particular news item please contact Nick Downing.

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Downing Associates on behalf of West Cornwall Pasty Company have recently acquired the Leasehold interest in 3 – 3a Broad Street, Reading, Berkshire.

West Cornwall Pasty Company have taken a new 10 year Lease at a rental of £57,500 p.a.x. and an initial rent free period of four months.

To find out more about this particular news item please contact Nick Downing.

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Downing Associates on behalf of West Cornwall Pasty Company have recently acquired a Leasehold interest in 4 - 4a Burton Street, Bath. The property is held on an FRI Lease expiring 24th December 2009 at a current rental of £70,000 p.a.x.

A very substantial premium was paid.

To find out more about this particular news item please contact Nick Downing.

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Downing Associates acting on behalf of West Cornwall Pasty Company have acquired a 10 year Lease at a rental of £43,500 p.a.x. in respect of a kiosk unit at Churchill Square, Brighton, West Sussex.

The freeholder is Standard Life.

To find out more about this particular news item please contact Nick Downing.

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Downing Associates have acquired the Leasehold interest in 15 Market Hill, Cambridge from Watches of Switzerland for West Cornwall Pasty Company.

The current rent is £82,500 p.a.x. and in addition, a very substantial premium was paid. West Cornwall Pasty Company.

To find out more about this particular news item please contact Nick Downing.

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Downing Associates on behalf of West Cornwall Pasty Company have recently acquired the Lease in respect of 52 Northgate Chester from Costa Coffee

The premises amount to 1,519 sq ft. The current rent payable is £70,000 p.a.x.

To find out more about this particular news item please contact Nick Downing.

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Downing Associates have agreed terms for a surrender of the existing Lease at 55 North Street, Guildford, Surrey and the simultaneous regrant of a Lease on Units 54 and 55 North Street.

The rent payable on the new Lease is £72,250 p.a.x.

Downing Associates acted for The West Cornwall Pasty Company.

To find out more about this particular news item please contact Nick Downing.

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Downing Associates on behalf of West Cornwall Pasty Company have agreed terms for a new 10 year Lease at a rental of £79,250 p.a.x. in respect of 56 Calverley Road, Tunbridge Wells, Kent.

The premises amount to 1,879 sq ft and the rent passing is £79,250 p.a.x. In addition, a small premium was paid to the previous tenant, Rhodes Shoes.

To find out more about this particular news item please contact Nick Downing.

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Downing Associates acquired the Leasehold Interest in 43, High Street Winchester, Hampshire from MacQuean Menswear on behalf of West Cornwall Pasty Company.

The current rent is £45,000 p.a.x. A premium of £45,000 was paid.

To find out more about this particular news item please contact Nick Downing.

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Downing Associates acting on behalf of E P Mallory and Son have disposed of a Leasehold interest in respect of 5 Old Bond Street, Bath.

The Lease expires in 2010 at a current rental of £47,500 p.a.x.

The assignee is Zoostation Ltd who paid a positive premium of £50,000.

To find out more about this particular news item please contact Nick Downing.

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