Aldi Stores
acquired
60+
Total for Aldi
1,000,000 sq ft
This project involved the acquisition of development land for Aldi. The land had an expired retail park consent and was bought from fixed charged receivers in a competitive bidding situation.
SIZE OF PROPERTY
36,000 sq ft
We provided a detailed tenant audit along with projected rents, lease terms and investment values to allow Aldi to have the comfort their investment would provide not only a standard store in a top target London location but also a stream of income from national occupiers, now KFC, Starbucks and Cancer research, to justify the capital outlay.
This project was a great example of our proficiency in turning an expired opportunity into a successful venture and highlights our commitment to strategic planning and execution.
Working on behalf of Aldi, we identified a Homebase store as a potential site when it became part of a Company Voluntary Arrangement (CVA), providing the landlord with the option to secure vacant possession upon the activation of a Landlord break within a short time window.
Acquisition of a 40,000 sq ft store in a Top 5 location for our client with immediate fast track onto the priority opening list and satisfying a key business development objective for Wickes.
Acquisition of a 5 acre plot on a subject to planning basis in a location identified as a high priority, we sourced the site off market and under timing limitations due to other occupational interest in the site.
Stripe Street approached the landlord in order to restructure onerous terms on a 67,000 sq ft Wickes in one of the most prominent locations in London, abutting the A406 North Circular Road. Stripe Street extended the lease, reduced rent by over 30%, settled an outstanding rent review and formalised an asset management objective that was key for the landlord. We enabled Wickes to bring an over rented store into profitability.
Working on behalf of Aldi, we identified a planning-restricted retail/PFS development site on Edgware Road in Little Venice. Collaborating closely with the landlord, we proposed a solution to enhance the efficiency of the commercial space and pave the way for Aldi to occupy on a subject-to-planning basis.
This project involved the acquisition of a vacant Morrisons Supermarket by a developer client at the request of Aldi in order to deliver part of the space for an Aldi supermarket.
Acting for an international family trust Stripe Street negotiated an extension to the lease term on two solus B&Q stores totalling over 100,000 sq ft, significantly boosting the investment value of the properties in return for a tenant incentive.
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