Category "Uncategorized"

20Mar
by Cheetham and Mortimer

Great to see Princes Dock progressing at a rate of knots…… For further details on our client Peel’s exciting plans for Princes Dock and Liverpool Waters please contact Warwick or Conor.

19Mar
by Cheetham and Mortimer

Reel Cinema and it’s “exciting neighbour” taking shape at Rochdale Riverside. Opening Easter 2020, for details on retail and restaurant opportunities call C&M or our joint agents LSH.

Unit 1, Lightbox MediaCityUK

by Cheetham and Mortimer
1 comments

Unit 1, Lightbox MediaCityUK comprising 2,369 sqft is an excellent opportunity to join the likes of Booths, TheAlchemistUK, Grindsmiths, Wagamama and CostaCoffee. Available June 2019, contact Conor for further details on this highly prominent retail/leisure property !

12Mar
by Cheetham and Mortimer
1 comments

C&M acting for EE have just exchanged on another prime unit at New Mersey Shopping Park, #peke, taking 1,500 sq ft alongside Costa.

12Mar
by Cheetham and Mortimer

Barbers Of Istanbul are now Open and Trading on John Dalton Street. C&M advised the previous tenant in their surrender negotiations.

One Final Unit Remaining, 34 Warrington Street

by Cheetham and Mortimer

Thrilled to have disposed of a former café at 21 Bow Street, Ashton_u_Lyne on behalf of our client Riddell TPS. A newco has taken the property on a 5 year lease at £18,500 pa. One final unit remaining, 34 Warrington Street. For any further information contact Warwick Smither.

5Mar
by Cheetham and Mortimer

Cheetham & Mortimer are delighted to be instructed by Core Consult to dispose of the final four remaining former M Local convenience stores in Blackburn, Blackpool (x2) and @Lancaster. Should you have any further queries please contact Warwick.

18Feb
by Cheetham and Mortimer

The new Amazon Management Services at Number One Princes Dock is looking great. If you are interested in the adjacent unit in a highly prominent location within the heart of Peel’s Liverpool Waters Development please contact Conor.

10Nov

Not All Retail Investments Deserve To Be On The Naughty Bench

by Cheetham and Mortimer
1 comments

Despite the tumultuous change sweeping through the retail sector, we had a busy end to the Q3 trading period suggesting that not all investors are running scared. However, in every instance there is a recurring theme – a desire for low risk/high quality investments attained through either undoubted tenant financial strength, long lease or sustainable location.

Perhaps unsurprisingly, the defensive nature of the grocery sector still holds attraction. We quietly sold a ground lease investment in Rochdale let to Tesco for an unexpired term of 80 years at a sub 4% yield. Whilst the potential for future rental growth might be less deserving of a low yield the longevity of the income is undeniable. Conversely, it was the growth potential associated with fixed rental increases that enabled us to sell the Aldi in Sale for a price showing a yield of 4.5% for 16 years term certain.

We were very pleased to complete the purchase of 35 Petty Cury, Cambridge for the Ludgate Estates. This prime High Street shop is leased to the “internet resilient” company of Timpsons for another 8 years, thus offering the prospect of stable income. However, it is the impressive dynamic of the local economy, founded on the global reputation of the University, that convinced our client that Cambridge has a long term sustainable position in the national retail hierarchy.

Finally, the growth of the leisure sector and the transition to convenience is driving the expansion of the drive thru coffee shops. With the backing of Coca Cola, it is widely expected that Costa is on the road to becoming a global brand. With the added benefit of 15 years term certain and guaranteed growth linked to the Retail Price Index, The District Estates were delighted to acquire Costa’s new Drive Thru at Crewe Business Park for a price showing a yield of 5%. The nature of the strategic location, adjacent to a main arterial road and a new business park, should ensure a successful trading operation.

As always, it is about stock selection to guarantee a sustainable investment. Critically, understanding the function of a property in any given location is more important than ever when attempting to determine the good from the bad.

Acting on a joint agency basis with Hynes Illingworth, Cheetham & Mortimer have agreed a 10 year lease with Grindsmith for the property, which extends to approximately 1,250 sq ft at ground floor, with a further 450 sq ft of ancillary lower ground floor space.

Rob Millington

Investment

2Nov

New Letting At Bridge Street Manchester

by Cheetham and Mortimer
1 comments

Acting on a joint agency basis with Hynes Illingworth, Cheetham & Mortimer have agreed a 10 year lease with Grindsmith for the property, which extends to approximately 1,250 sq ft at ground floor, with a further 450 sq ft of ancillary lower ground floor space.

Josh Moores, surveyor at Cheetham & Mortimer, commented “the ground floor retail space actually forms the entrance to the upper floor office scheme, so there was only a handful of quality operators who could make this space work. Grindsmith were always our first choice and we look forward to seeing them flourish”.