November 7, 2011
Royal London Asset Management, advised by Edgerley Simpson Howe, has let a newly created store at Century Retail Park in Watford to Pets at Home.
Pets at Home will take the 9,722 sq ft store, which was previously occupied by Comet, on a new lease expiring December 2024 at a rent of £33.00 per sq ft.
Comet has agreed to right-size its existing store to make room for Pets At Home who opens in March next year. Comet will remain trading throughout the process and has agreed to pay the same equivalent rent on a lease also expiring in 2024 on a unit of 9,903 sq ft., within which they will have installed a full cover trading mezzanine. This new store will open in mid-December 2011.
Other retailers on the scheme include Toys R Us, Hobbycraft, Halfords, Currys and Furniture Village.
Edgerley Simpson Howe acted for RLAM.Stephen Smart & Co acted for Comet. Curson Sowerby Partners advised Pets At Home.