Go Outdoors signs at Pallion retail park, Sunderland
Ediston Property Investment Company has successfully completed two new lettings at Pallion retail park, Sunderland.
Go Outdoors completed a lease on the refurbished unit 2, which comprises 11,345 sq. ft. The new 10-year lease has a five-year break clause and the rent passing of £187,192pa is 20% higher than the rent paid by the previous tenant, B&M, which relocated to larger premises on the park.t.
This letting follows the lease renewal to The Wallpaper Warehouse which has remained in unit 4, which extends to 6,000 sq ft. The new 10-year lease has a five-year break clause.
Calum Bruce, director of investment at Ediston Properties, said: “Despite the headwinds in the retail market, we continue to secure both new and existing tenants for our retail warehouse portfolio. These two transactions have secured £274,000 of income per annum and show that it is possible to move rents forward on good quality retail warehouse park assets.”