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Costa Drive Thru Investment Acquisition – Llanelli

Property company clients have recently completed the acquisition of this new coffee shop and drive thru in Llanelli, South Wales by way of a simplified forward funding structure. Prominently situated adjacent to the recently completed Aldi supermarket and opposite the 450,000 sq ft Trostre Retail Park, the unit extends to 2,200 sq ft with 44 on site car spaces on a site of c 0.75 acres. Costa Ltd occupy under the terms of an unbroken 15 year lease at an initial rent of £92,000 pa which is subject to RPI uplifts 5 yearly.

Knight Frank acted on behalf of the developer, Peveril Securities.

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Office Acquisition – Wakefield

As part of a rationalisation programme post COVID, clients ours have opened a new office in Calder Park, Wakefield. The unit, which extends to 2,000 sq ft over 2 floors with 7 car spaces, forms part of a well established business park situated adjacent to junction 39 of the M1 to the west of Wakefield town centre. A new 10 year lease was entered into at a starting rent of £23,800 pa.

Vickers Carnley acted for the landlord in the transaction.

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Lease Renewal - Stonehouse Stroud

Acting for property company clients our landlord and tenant team have recently completed negotiations for the renewal of a lease of a 27,000 sq ft industrial unit on Stroudwater Business Park, Stroud.

Given the location close to junction 13 of the M5, the quality of the building and the strength of the industrial market we secured a 30% uplift in the rent passing.

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Freehold Children’s Nursery Funding – Emersons Green, Bristol

Clients of ours have recently completed the acquisition, via a traditional forward funding, of a children’s nursery situated adjacent to a recently completed 97 bed Travelodge Hotel and a Costa Drive Thru in Emersons Green to the north of Bristol city centre.

The property, which extends to 5,920 sq ft with 23 car spaces, is let to Kenmare Estates Ltd, with a guarantee from Midcounties Co-operative Ltd on a new 25 year lease without break. The developer, Hinton Group, was represented by Atlas Real Estate in the transaction.

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Frank Purcell

Last month saw the successful addition of a new member of staff to our Property Management department.

Frank has joined us after completing his honours degree in Real Estate Management from the University of the West of England. He has begun work in earnest to learn and develop as our new Graduate Property Management Surveyor and is enjoying his new position.

Frank is a hardworking individual with a strong attention to detail. He meets every challenge head on and works tirelessly to find a solution to a problem, whilst not being afraid to ask for help. He is a real asset to the office environment, with his fresh perspective and outgoing attitude, and he is quickly becoming a valued member of the Mark Atkins Associates team!

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Freehold Coffee Shop and Drive Thru Funding – Merry Hill, West Midlands

Clients of ours have recently completed the acquisition, by way of a full forward funding, of a coffee shop and drive thru situated adjacent to the Merry Hill Shopping Centre in Brierley Hill. The property, which extends to 2,200 sq ft with 23 car spaces, is let to Starbucks Coffee Company (UK) Ltd on a new 15 year lease without break. The developer, Altair Developments, was represented by FSP in the transaction.

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Retail Unit Acquisition – Newton Abbot

Clients ours have acquired a retail unit in Newton Abbot for their own occupation at a figure of £256,000. Occupying a prime pedestrianised position in Courtenay Street opposite Boots and close to WH Smith, Clintons, Superdrug, Halifax and the main entrance into the Market Square Shopping Centre, the unit extends to 2,300 sq ft over 3 floors. Larkman Edgcumbe acted for the vendor in the transaction.

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Retail Unit Acquisition – Northwich

As part of their continued expansion programme, on behalf of corporate clients we have acquired a retail unit in the centre of Northwich close to the recently completed Barons Quay retail and leisure development. Spread over two floors, the unit extends to 2,200 sq ft and a new 10 year lease at £32,500 pa was agreed. Christopher Dee acted for the landlord.

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Retail Unit Acquisition – Thornbury

Property company clients of ours have purchased a retail investment in Thornbury, South Gloucestershire for £490,000 reflecting a net return of 6.25%. The unit, which is let to Boots until July 2027 at a rent of £32,005 pa, occupies a large site in the centre of the town with the built area extending to 5,325 sq ft over three floors. The acquisition provides significant redevelopment opportunities for the client over the previously land locked site to the rear of their existing ownership immediately adjacent.

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