January 4, 2011
Gerry Weber, advised by Kitchen La Frenais Morgan, has acquired two new stores, one in Chichester and one in Eastbourne.
The German fashion retailer has opened a 1,550 sq ft store at 31 – 32 East Street, Chichester. The fashion house negotiated a 10 year lease at a rent of £110,000 pa, with six months rent-free and a break clause at year five, with landlord Prudential Assurance Limited.
Gerry Weber has also taken a 1,500 sq ft store at 134 Terminus Road in Eastbourne after signing a 10 year lease, with a 12 month rent-free period, with Threadneedle Property Investments Ltd. The rent is £65,000 pa.
Kitchen La Frenais Morgan represented Gerry Weber. Cluttons advised Prudential Assurance Limited and Leslie Perkins advised Threadneedle Property Investments Ltd.