We had hoped to start 2010 with a good dose of love and respect for our fellow business colleagues. However a toxic mix of ‘alternative’ team images and clients with too much time on their hands has led to a number of emails being sent with ’lookalikes’ attached.
I thought we would share some of these jibes with you all….
Its always nice to be nice
Rowan Asset Management has acquired the retail investment property known as 23-27 Gallowtree Gate and 2-6 Victoria Arcade in Leicester from clients of AXA REIM.
The property is leased in its entirety to two tenants; Clinton Cards and 3 Retail, and produces a total income of £340,000 pax. The purchaser paid £4.1M which reflects a net initial yield of 7.84%.
BC Commercial acted on behalf of Rowan Asset Management and CBRE acted on behalf of AXA REIM.
For further information please contact Richard Beim or George Hotham of BC Commercial.
BC Commercial acting on behalf of landlord, the Eldar Group, has successfully let the above retail premises in Loughton to Robert Dyas.
A new 10 year lease was agreed with Robert Dyas where the commencing rent payable will be £85,000 per annum.
For further information please contact Nick Furlong.
Acting on behalf of a private investor BC Commercial has successfully let the above premises to Internacionale Retail Limited.
A new 10 year lease was agreed at commencing rental of £90,000 per annum exclusive. 205 High Street extends to approximately 5,800 sq ft over ground and first floors.
For further information please contact Nick Furlong
In Q4 of 2009 BC Commercial acquired 7 retail premises on behalf of O SPA London.
Stores were acquired in New Bond Street, Westfield London, Leadenhall Market, Cabot Place Canary Wharf, The Royal Exchange, Devonshire Square and Windsor Royal Station.
OSpa London is a provider of luxury spa experiences for the face and body. They are looking to expand their retail presence throughout the UK for both their spa salon concept of over 2,000 sq ft and their product shop concept of over 500 sq ft.
Please contact Michael Chudzynski for further information.
BC Commercial acting on behalf of F&C REIT has successfully let Unit 2, 18 Lime Street & 63 Leadenhall Market to Gieves & Hawkes.
A new 15 year lease was agreed which will be subject to a tenant only break in the 5th year. The commencing rental is to be £122,500 per annum exclusive. The shop will extend to approximately 1,075 sq ft and is set to open for trade in early 2010. Johnstone Hall acted for Gieves Hawkes.
For further information please contact Michael Chudzynski.
Acting on behalf of Arcadia, Michael Chudzynski of BC Commercial has acquired a new flagship store for Topshop at 70 Brompton Road, London.
Situated opposite Harrods the store will be in excess of 18,000 sqft spread over 3 floors. The aquisiton underlines the intentions of Sir Philip Green and his team to further develop the Topshop brand.
The store is expected to open in the first half of 2010.
Acting on behalf of Cordea Savills, BC Commercial have acquired a retail warehouse investment property in Redditch.
The property is single let to B&Q Plc off a rent equating to £12.60 psf, with approximately 18 years unexpired. The property was acquired for a price of £16.3M and 7.50% NIY.
Please contact Jonathan Mather for further information.
BC Commercial has recently secured retail premises on behalf of Le Montmartre who has chosen 46 Fleet Street for their first store.
46 Fleet Street is a ground floor shop of 340 sq ft and Le Montmartre has taken a 10 year lease paying £42,000 per annum exclusive.
Le Montmartre is an exciting new gourmet French patisserie intending to serve high quality gourmet sandwiches, crepes, salads, patisseries and coffees. BC Commercial are retained and will be seeking further stores in Central London for Le Montmartre during 2010. Le Montmartre’s requirement is for between 300 – 1,000 sq ft.
Tomorrow the 2009 BC Christmas party is occuring. The participants consists of a mixture of experienced hands and novices. It will be the first for the investment boys Jonny, George and Twiggy and Frixos is back for a guest appearence to prove that last years slip ups were only a blip.
In truth expectations are low. NF is in charge this year and we seem destined to be disappointed. His theme seems to consist of maintaining all activities within a single block of the office. I think he gave the restaurant 24 hrs notice and the fact they can accommodate 10 suggests they will not be found on page 1 of the Square Meal.
Entertainment is to be provided in the form of an action packed quiz ‘Graduate challenge’. Gary vs Matt is hardly Hatton vs Khan however its the best we can do within the geographical restrictions of the day. I think Gary might be odds on favorite with Matt experiencing his first SAS party this evening.
It’s bound to underwhelm after the the screaming success of 2008…
Love Ebenezer
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