Smith Price - Retail Letting - Lakeside, Basingstoke, Plymouth
Date: 19 Jun 2008
New stores in Lakeside, Basingstoke and Plymouth will be open for Summer 2008 trade.
ShakeAway, the original specialist milkshake retailer, have acquired three new stores in Lakeside Shopping Centre, Plymouth (Cornwall Street) and Festival Place, Basingstoke, all of which will be open by June 2008.
ShakeAway opened their first branch in Bournemouth in 1999 and now trade from 12 branches. The business offers up to 150 milkshake flavours and have an arrangement with the leading confectionary brands
including Nestlé, Cadbury's and Haribo to create shakes around their well known products. An expansion
programme is in place through use of franchising and all three stores have opened via new franchisees.
Lakeside (Unit 60, Lower Level) offers a ground floor area of 360 sq.ft. (together with remote storage) and
has been acquired on the basis of a new ten year lease subject to an upward only rent review at the end of the fifth year at a commencing rental of £44,000 p.a. excl. A rent-free period was granted to ShakeAway Ltd.
Plymouth (24 Cornwall Street) is arranged over ground and first floors offering 1,351 sq.ft. at ground and
415 sq.ft. at first floor. Occupation is by way of an underlease expiring 23rd June 2015 (less a few days) at a passing rental of £62,685 p.a. excl. subject to an upward only rent review with effect 24th June 2010.
ShakeAway received a rent-free period.
Basingstoke (Unit 21, Hampstead House, Festival Place Shopping Centre) has been acquired by way of a new ten years effectively full repairing and insuring lease subject to an upward only rent review at the end of the fifth year at a commencing rental of £19,500 p.a. excl. ShakeAway received a rent-free period of six months and the lease contains a tenant only break clause at the fifth anniversary of the term. The property offers 717 sq.ft. at ground floor with a first floor mezzanine of 74 sq.ft.
ShakeAway Ltd were represented throughout by Smith Price whilst the landlord of Lakeside (CSC) was
represented jointly by Messrs Lunson Mitchenall and CWM whilst in respect of Plymouth the lessor T Warren & Son (Hale) Ltd was represented by Stratton Creber Commercial in Exeter. The landlord of Basingstoke Grosvenor, were represented jointly by Savills and Briant Champion Long.
ShakeAway are looking to continue opening new stores and have set an ambitious target for 20 UK stores to be open and trading by Christmas 2008.
In addition to the UK expansion, ShakeAway are now open in Melbourne, Australia with Auckland, New
Zealand to follow shortly!
Shakeway
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