Prudential has bought a prime store in central Manchester store for £6.7m. The fund has also secured a 38% increase in rental income by reletting the premises to Daisy & Tom for its second children’s department store.
The retailer has agreed a rent of £525,000 pa for the 3,180 sq m (34,250 sq ft) unit at 118-124 Deansgate. Daisy & Tom’s other outlet is a 1,858 sq m (20,000 sq ft) unit in Kings Road, Chelsea, London.
Lambert Smith Hampton and The Elliott Partnership advised Southgate Properties in the sale. Prudential was represented by King Sturge and Edwards & Co. Orme Associates advised Daisy & Tom.
EGi News 24/02/97
