Electrical retailer Currys is understood to have paid a record rent for the former Homebase units at Prudential’s Cribbs Causeway retail warehouse park in north Bristol.
Currys is thought to have beat off competition from 13 other bidders to secure the 3,250 sq m (35,000 sq ft) property, which Homebase surrendered to the Pru in advance of the store’s proposed move to a site in Filton.
The retailer is believed to have offered around £258 per sq m (£24 per sq ft) for the unit. The deal will set the tone for future rent reviews at the park: other tenants pay closer to £182.99 per sq m (£17 per sq ft).
At the same time, Asda has applied for consent to build a £28m store complex on a site next door to Cribbs Causeway. The retailer is planning a 6,503 sq m (70,000 sq ft) hypermarket, a 9,290 sq m (100,000 sq ft) DIY store and a garden centre on the site. The company’s present store will be demolished once work on the new property is complete.
Hartnell Taylor Cook advised the Pru.
EGi News 21/01/97
