Dune Footwear has taken a new store in Cardiff and set a new Zone A rent of £1,647 per sq m (£153 per sq ft).
The shoe retailer has signed up for Argyll Property Asset Managers’ 101 Queen Street on a 15-year lease at an initial rent of £70,000 pa. Dune’s new store provides a sales area of 57 sq m (612 sq ft) and a 40 sq m (434 sq ft) ancillary basement area. There are five-yearly upward only rent reviews.
Argyll recently acquired 89-107 Queen Street from Morgan Grenfell. Acording to Strutt & Parker’s Allan Lockhart, Argyll’s agent, the new owner intends to raise the profile of the parade by attracting fashion retailers.
Churston Heard was joint agent with Strutt & Parker for Argyll and Cater Wassell advised Dune.
EGi News 26/11/97
