Eagle Star has bought a 9.22-acre industrial scheme in Droitwich, West Midlands, for £7m from Britax Vega, part of BSG International. Located on the Hampton Lovett Industrial Estate close to junction 5 of the M5, the 123,224-sq ft distribution and office scheme was leased back to occupier Britax Vega on a 25-year lease at an initial £575,150 pa. Over the past year, Eagle Star has spent some £40m on industrial property. Johnson Fellows acted for the purchaser.
Investment surveyors in DTZ Debenham Thorpe’s Leeds office are on the move. David Holt is to join the Manchester office of Lambert Smith Hampton, while director of DTZ’s investment department, Colin Fell, is poised to move to King Sturge & Co in Leeds. A DTZ spokesman refused to confirm Fell’s departure, saying that a statement would be made next week. Meanwhile, the firm has named Michael Curtis as senior investment surveyor in the Leeds office; David Holt’s replacement is Lyndsay Burns.
Four more retailers have signed for units on Hermiston Gait, the 200,000-sq ft retail park in west Edinburgh, following the recent preletting of 50,000 sq ft to Texas Homecare. The scheme has yet to win detailed planning consent, but Childrens World and Cantors have each taken 15,000 sq ft, Carpetright has signed for 10,000 sq ft, and Harvey Furnishing for 7,500 sq ft. All four retailers will pay £13 per sq ft; Texas is to pay £10 per sq ft. Grimley J R Eve and Mason Owen acted for developer, New Edinburgh.
The Mercers’ Company this week confirmed the letting of 40,000 sq ft at Barnards Inn, EC4, to Mercury Communications at £15 per sq ft (see “News”). Mercury, which will benefit from less than a year rent-free, is now the sole occupier of the 106,000-sq ft development.Letting agent is Chesterton.
