August 2, 2010
Salmon Harvester Opportunity Fund, the £150 million investment fund formed by Salmon Harvester Properties and NFU Mutual, has let two units in Kingston Upon Thames to furniture retailers Warren Evans and BoConcept.
The 5,000 sq ft unit at 2, Brook Street, has been let to Warren Evans at a rent of £50,000 pa on a 10 year lease.
Danish furniture retailer, BoConcept, has taken the 5,396 sq ft standalone unit at 20 Eden Street, at a stepped rent rising to £67,500 pa on a 10 year lease.
Matthew Meaden, fund manager, Salmon Harvester Opportunity Fund, comments: “These deals come at a time when many retailers have cut back on new openings. Brook Street and Eden Street are good retailing areas and we are delighted to have signed up Warren Evans and BoConcept.
This is the first stage in our asset management strategy and supports our investment acquisition during a period when few others were willing to invest in riskier investments such as these.”
Salmon Harvester Opportunity Fund had acquired Surrey House and Lever House, a 165,000 sq ft mixed use investment in the centre of Kingston Upon Thames for £20.45 million last year.
Kitchen La Frenais Morgan and Montagu Evans represented Salmon Harvester. Hicks Baker represented Warren Evans. Harper Dennis Hobbs represented BoConcept.