UK Commercial Property Trust has let a 7,600 sq ft at its St George’s retail park in Leicester to Poundworld.
Ignis Asset Management, which manages the trust, negotiated a lease surrender from the former occupier, Brantano, and agreed a new 15-year lease with the value retailer at £27.50 per sq ft rent.
UKCPT acquired the 167,000 sq ft St George’s retail park in February 2011 for £49.9m. Since then, it has obtained planning consent for a 73,500 sq ft food store, prelet to Tesco.
Morgan Williams and BNP Paribas Real Estate acted for Ignis; Francis & Company represented Poundworld; Pudney Shuttleworth advised Brantano.
annabel.dixon@estatesgazette.com
