April 4, 2011
Developer Spenhill Regeneration, the regeneration arm of Tesco, has signed a number of new deals at its Willow Brook Centre in Bradley Stoke, Bristol, in which it was advised by agents Morgan Williams and Alder King.
In the main retail mall the developer has let Unit 1, to Boots in a ten year deal. The retailer will pay a rent of £133,750 for the 5,300 sq ft store which also includes regional offices on a mezzanine floor above the store. Boots was represented by Montagu Evans.
Jonathan Gardner, divisional director (west) for Boots The Chemist said the new store was performing well since opening last month. “Our new store at Bradley Stoke opened in February, and both our retail and pharmacy businesses are doing well and are on budget. The relocation of the division’s support office and training facility to the Willow Brook Centre was also a great move, as the location offers outstanding road links, ample parking and is ideally situated to cover the south west region. The centre gives our team and visitors some great amenities and a very pleasant environment in which to work.”
The Boots letting follows other deals within the centre including unit 6, a 10,185 sq ft store which has also been let on a 10 year lease with value retailer Poundstretcher taking the space at a rent of £184,400 PA. Poundstretcher was represented by Sturgis Shattock and Partners.
In the adjoining catering offer of Town Square units 5,6 and 7 have been combined in a 5,000 sq ft letting to Mitchells & Butlers who have opened a Harvester restaurant on the site. They have taken a 25 year lease with a break option at 15 years and will pay a rent of £125,000 PA. Mitchells & Butlers was represented by Thompson Heaney.
The first phase of the 295,000 sq ft Willow Brook Centre opened at the end of 2008 and is anchored by a 126,500 sq ft Tesco Extra. Other major retailers at the scheme include Brantano, Pets at Home and Peacocks.