NAI Gooch Webster - Retail - York, Coppergate Centre

Date: 19 Apr 2000

Starbucks has taken Unit 16 of the Coppergate Centre, York, creating a new Zone A rental level for the scheme.

Acting on behalf of Land Securities Properties Ltd, the Leeds office of NAI Gooch Webster has negotiated the surrender of JJB Sports' existing 25 year FRI lease from 29/05/85, at a current passing rental of £100,500 per annum exclusive, for a premium of £35,000.

They have re-let the premises to Starbucks under the terms of a new 15-year lease at a commencing rental of £120,000 per annum exclusive. The unit comprises 101.91 sq m (1,097 sq ft) of ground floor sales, together with 19.04 sq m (205 sq ft) of basement storage space and 89.37 m2 (962 sq ft) of first floor sales and stock area.

JJB Sports, which has relocated to Davygate, were represented by Fawley & Booth. Jones Lang LaSalle represented Starbucks.

"This is a highly significant deal for Coppergate," comments NAI Gooch Webster's retail director Nick Denton. "The lack of activity in the centre between 1996 and 1999 led to provable values being below market values and this letting sees the rental tone increasing from £100 Zone A to £135 Zone A."

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