Smith Price - Southend, 143 High Street, Southend

Date: 30 Mar 2010

Caffé Nero takes unit in Southend.

Specialist retail consultancy Smith Price has advised Nero Holdings Ltd (t/a Caffé Nero) on the latest acquisition in its continuing expansion programme, a prominently positioned character property in the seaside town of Southend-on-Sea.

The property is located in a prime corner plot of the busy pedestrianised High Street (143 High Street) and has an abundance of character to create the perfect continental coffee house experience.

The company has acquired the 3,773 sq ft premises by way of an underlease for a term until 30th July 2020 at a commencing rental of £70,000 p.a. excl. subject to a first review with effect July 2015. Nero Holdings Ltd received a rent-free period on occupation.

Smith Price represented Caffé Nero and GCW represented the head tenant, Southern Amusements.

John Mortimer, Head of Agency Team at Smith Price said: "This acquisition takes advantage of a rare opportunity to acquire this well positioned period building and follows a number of store completions we have undertaken on behalf of our long standing client Café Nero in East Anglia, where we are the firm's retained agency."

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