Healey & Baker - Retail Letting - Cumbria, Kendal, Elephant Yard

Date: 12 Dec 2000

Boots Properties has let two more units at the Elephant Yard shopping centre in Kendal, Cumbria.

Laura Ashley has taken Unit 7B, providing 1,283 sq ft (119 sq m) of ground floor space with 2,571 sq ft (239 sq m) at first floor level at rent of £50,000 per annum exclusive. A new 15-year effectively full repairing and insuring lease with five yearly rent reviews has been agreed. This acquisition is seen as part of a new initiative by Laura Ashley to acquire stores in small prosperous towns.

Iain Nairn, Laura Ashley’s Director of Retail Operations for UK and Europe, commented: “We have been looking for a store in Kendal for a number of years and this location has proved to be ideal. It is a highly visible site, accompanied by local car parking facilities and offers a perfect opportunity for Laura Ashley. The store is in an inviting environment and provides the right space to enable the continued growth in both home furnishings and womenswear sales.”
And local independent menswear retailer Blacows has taken Unit 2 which provides 1,085 sq ft (100.8 sq m) of ground floor sales. A new 10 year lease was agreed with a break at the end of the fifth year with five yearly rent reviews at a rent of £30,000 per annum exclusive.

Healey & Baker and Cariget Cowan are joint letting agents at Elephant Yard. Fisher Wilson represented Laura Ashley.

The 70,000 sq ft (6,503 sq m) Elephant Yard development is the newest and most prominent scheme in Kendal. It is seen as a natural extension of the retail pitch between Marks & Spencer and the prime pitch of Stricklandgate. The development has already secured a number of lettings to national tenants including Next, Monsoon, Costa Coffee, Claire’s Accessories and Boots the Chemist.

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