The new lease was for a term of 5 years at a rent of £135,000 per annum exclusive. It follows completion of two other renewals within the same ownership, with Poundland and Three Store also taking new 5 year terms. In addition, a lease extension by deed of variation was agreed with Mountain Warehouse. and cities. In addition Fawcett Mead have completed the lease renewal of the prime Superdrug unit also on Cornhill. Prime Retail acted for Sports Direct and Poundland, whilst Mountain Warehouse, Three and Superdrug dealt direct.
Craig Cawthorne commented “We believe the deals, all initially negotiated during Covid, demonstrate retailers’ desire to remain in the best High Street pitches in prosperous towns.
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