30th Jul 2008 09:06
FOR IMMEDIATE RELEASE
30 July 2008
LAP COMPLETES TWO NEW LETTINGS AT SOLIHULL
London & Associated Properties PLC ("LAP"), the focused retail investor, today announces that it has completed two new lettings in its Solihull centre to major national retailers following lease surrenders from previous tenants.
Shirt retailer T M Lewin has leased a unit at an annual rent of ‚£112,000 compared to ‚£107,000 pa previously while The White Company is paying ‚£147,500 a year for its unit against ‚£144,000 previously.
Acquired by LAP in January 2008 for ‚£13.7m the freehold parade, comprising seven retail units let to tenants including Space NK, H Samuel and Ann Summers, is located in the High Street and Mill Lane.
John Heller, Chief Executive of LAP, said: "These two lettings underline the quality of this parade's location, both in terms of achieving rental growth in the current unsettled market and in terms of the quality of the tenants we have secured."
LAP was advised by Rowley Hughes Thompson in the lettings.
Ends.
Contact:
John Heller, Chief Executive, LAP. Tel: 020 7415 5000
Baron Phillips, Baron Phillips Associates. Tel: 020 7920 3161
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London & Associated Properties