NEW HQ SECURED FOR RETAIL CLIENT

Since being retained by Putting on the Glitz in February 2009, Steve Young of Fisher Hargreaves Proctor has been responsible for increasing their portfolio of stores from 26 to 41.

The acquisitions have been wide ranging in terms of both geographical spread and location.  They have included prime shopping centres such as Castle Court, Belfast; Merry Hill, Westfield; The Victoria Centre, Nottingham and the St James Centre, Edinburgh.

Due to the rapid expansion of the business, it quickly became apparent that Putting on the Glitz would need to increase the size of their warehousing and distribution in order to effectively service the portfolio.

Their remit was to find 5,000 ft² to 10,000 ft² of accommodation in the M1 corridor ideally in close proximity to Mansfield where their existing premises were based.

Working closely with FHP’s Office and Industrial Team, we were able to identify a host of opportunities and systematically work through them to compile a short list.  The stand out opportunity was located on Oakham Business Park and following two viewings, we were instructed to formulate an offer.

The deal was agreed on the basis of a new ten year subject to a five year tenant break clause at a commencing rent of £29,920, circa 65% of the quoting value.   Our clients also benefitted from a rent free period of four months and as a condition of the deal, the landlords installed air conditioning and heating.

Steve Young of Fisher Hargreaves Proctor commented:-

“It has been a pleasure to work with both Andy and Kirsty over the past twelve months and assist in developing their business at such a remarkable pace.  They have worked tirelessly since the inception of Putting in the Glitz some five years ago and I am delighted to have been involved in acquiring their new headquarters which provides the perfect platform for their next phase of growth.