Fisher Hargreaves Proctor - Retail Letting - Nottingham, 19 Wheeler Gate

Date: 23 Sep 2002

Fisher Hargreaves Proctor have successfully assigned the leasehold interest in respect of 19 Wheeler Gate, Nottingham to the German giftware retailer “Depesche”.

The property, located opposite to Virgin Megastore, comprises a ground floor sales area of 45sq m (484 sq ft) together with rear sales/offices of 51.6sq m (555sq ft).

The property was held on a 15 year lease to Select Appointments Ltd with the current rent passing being £34,500 per annum with the next rent review being due in June 2003. Depesche have paid a premium for the benefit of the lease.

Ben Tebbutt of Fisher Hargreaves Proctor commented:
“There is still a lack of good quality retail accommodation available within Nottingham City Centre in the £30,000 to £60,000 category. The premium reflects the strong interest shown in this unit together with the fact that the property is currently under let”.

Lambert Smith Hampton acted on behalf of Depesche. Ben Tebbutt continued “FHP have recently been instructed in respect of 48 Long Row West, the former Wap Stores and Costa Coffee unit. The property provides ground floor accommodation of approximately 550 sq ft and is well located fronting the Market Square and opposite Debenhams Department Store”.

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