Burton Group is tipped to have won the bidding for the last retail warehouse at Fosse Park near Leicester with a rental offer close to £645.85 per sq m (£60 per sq ft).
If confirmed next week, it will be by far the highest rent ever paid for retail park space, leap frogging the record set earlier this year at The Fort retail park in Birmingham.
SPP, advised by Savills, created the 929 sq m (10,000 sq ft) unit after Do It All surrendered its lease on a 3,251 sq m (35,000 sq ft) store. The other 2,322 sq m (25,000 sq ft) was let to Boots. SPP refused to comment on rumours that there were five bids, all over £538 per sq m (£50 per sq ft) including one from C&J Clark at £570 per sq m (£53 per sq ft) and River Island.
Burton trades at Fosse Park under the Dorothy Perkins, Burton and Champion Sport Facias. One out-of-town agent said: “Burton’s bid has to be based on current trading experience and that’s why they’ve won it.”
EGi News 14/07/97
