Focus DIY rent deal
Published: 25 June, 2010
ALDERLEY EDGE: Property investment and development company Bluemantle has re-geared the lease of troubled home improvement chain Focus DIY on a 15 000 sq ft unit within the Congleton Retail Park.
Focus will pay a headline rental level of £18 per sq ft. Bluemantle has signed M&S Simply Food on a 20-year lease for a 15 000 sq ft unit.
Bluemantle developed Congleton Retail Park, which includes Laura Ashley, Carphone Warehouse, five years ago.
John Leighton, of Bluemantle, said: "We continue to work on asset management opportunities and have strong interest in the final remaining 4000 sq ft unit. We are also looking at developing the retail park further by building an additional 5000sqft over the next 12 months."
Retail parks remain in favour despite fears the retail park market could become overheated. Experts said parks priced correctly had sold and more than £200m worth changed hands or were placed under offer in the past week.