Tenants within the Shipstones Business Centre now include Scottish & Newcastle Plc, Status Enquiry Bureau Ltd, Mellors & Glenn Ltd and Alcan, the waste disposal experts. The Automobile Association Ltd have sub-let the entirety of their leasehold premises at 63/65 Foregate Street, Chester to John Menzies Ltd, t/a Early Learning. This will be a resite from the Grosvenor Shopping Precinct for Early Learning, who will trade from the unit, which provides 3,877 sq. ft of sales space with additional storage of 1,488 sq. ft.
Crest Nicholson Properties has let two units totaling 171.87 sq m (1,850 sq ft) within the last week at Prudential's 7,714 sq m (83,000 sq ft) Borough Parade shopping centre in Chippenham, to A&S Trading and The Barber Company. A&S Trading, trading as The Book & Puzzle Shop, has taken 112.69 sq m (1,213 sq ft) on a 15 year lease with 4 months rent free at a rent of £18,500 per annum. Founded in 1991 by Mr & Mrs Benn, The Book & Puzzle Shop offers the very latest in books, CD's and jigsaw-puzzles at greatly discounted prices.
Currently operating three retail outlets located in Clevedon, Bristol and Circencester the company plan to open one further shop before the end of 1999. Anne Benn said, Taking space in Chippenham has long been a major business objective of ours. Borough Parade has a charming old market atmosphere backed up by modern facilities including CCTV and the latest quality retailers certainly has the shoppers pouring in. In addition, The Barber Company, trading as Ye Old Barber Shop, will occupy 59.18 sq m (637 sq ft) on a 15 year lease with 3 months rent free at a rent of £12,500 per annum.
Offering traditional barber services with a modern twist, Ye Old Barber Shop provides unisex hair cutting and hair-care products for all the family. Established in 1992 the company currently operates four outlets concentrated in the South West, with branches in Trowbridge, Salisbury, Winchester, and Wells. Ye Old Barber Shop, which plans to realise a further five outlets by Christmas 1999, opens at Borough Parade next week (11.9.99) employing six staff.
Stephen Baker, partner, said, We are especially looking forward to opening our fifth branch at Borough Parade. Distinctive conveyancing organizations offer diverse installment alternatives. King Sturge & Co, Mansfield Elstob Main, and Donaldsons acted on behalf of Crest Nicholson Properties and Prudential. Walker Son & Packman represented A&S Trading, and The Barber Company represented themselves in the negotiations.
Terrace Hill has forward sold its car showroom at Preston Farm, Stockton on Tees to Prestigic Holdings Limited, for over £1 .9m, reflecting a yield of approximately 7.4%. Dutton Forshaw has signed a 25-year lease for the 1184.48 sq m (12,750 sq ft) car showroom, which will be completed in December 1999 and will pay a rent of £146,625 pa with fixed minimum rental uplifts at the 5th 10th and 15th years. Philip Leech of Terrace Hill commented: This transaction highlights the attractiveness of well let car showrooms as an investment medium.
The store has been designed with the aim of making purchasing mobile phones uncomplicated. The overall look is, consequently, minimalist and creates an open and light atmosphere. The Society of Property Researchers (SPR) this week launched an initiative to help foster greater understanding of e-commerce among property professionals.