Reid Rose Gregory - Retail Sale - South of England, Marlow, Witney, Bournemouth, Chichester & Cirencester

Date: 25 Jun 2008

Steamer Trading Cookshop, advised by Reid Rose Gregory, has continued its expansion programme with the acquisition of five new stores across the south of England.

In Marlow, the specialist cookware retailer has purchased the freehold of the 4,734 sq ft (440 sq m) Market Inn at the junction of Market Square and the High Street from Scottish & Newcastle for £2.2 million. It has also bought the freehold interest in 8-10 Market Square, Witney, Oxfordshire, which provides 4,746 sq ft (441 sq m) from a private investor for £1.4 million.

In addition, Steamer Trading Cookshop has signed up for three further shops in Bournemouth, Chichester and Cirencester. In Bournemouth, it has signed a new lease on a 4,391 sq ft (408 sq m) outlet at Gervis Hall, Gervis Place, Old Christchurch Road at an annual rent of £70,000. The landlord is Lloyds TSB.

At 69 South Street, Chichester, West Sussex, it has taken the assignment of a lease expiring in October 2019 on a 2,887 sq ft (268 sq m) store from Barclays Bank at a rent of £63,000 pa. Finally, Steamer Trading Cookshop has taken the assignment of a lease from The General Trading Company on a 3,625 sq ft (303 sq m) shop at 2/4 Dyer Street, Cirencester, Gloucestershire. The lease expires in May 2039 and has been taken at an annual rent of £41,500.

Malcolm Reid of Reid Rose Gregory comments: "The affluent town locations of these latest acquisitions are very much in keeping with the Steamer Trading Cookshop brand, and underline the continuing success and popularity of the format."

Founded in Alfriston, East Sussex in 1985, Steamer Trading Cookshop has 18 stores throughout the south of England in locations including Brighton, Canterbury, Guildford, Horsham, Lewes and Thame. Its buildings are invariably of intrinsic architectural interest and the firm was voted 'Multiple Retailer of the Year' in 2005 and 2006.

Scottish & Newcastle was advised by Christie & Co, while the private investor who sold 8-10 Market Square in Witney was represented by Mayfield. Sibbett Gregory acted on behalf of Lloyds TSB; Atisreal represented Barclays Bank PLC, Chichester.

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