Article Archives - Forge Commercial Property

WIPL sell prime Newcastle block

Forge has successfully advised Wittington Investments (WIPL) on the sale of 60-62 Northumberland Street, Newcastle.

The property occupies an exceptionally prominent, 100% prime position directly opposite the main entrance to Eldon Square, at the heart of Newcastle’s strongest retail pitch. It provides approximately 26,850 sq ft of well‑configured retail accommodation.

The asset is fully let to Deichmann Shoes and Cotswold Outdoor on two new 10‑year leases, secured at re‑based rental levels with a WAULT of 8.93 years to expiry.

Jonathan Mills commented:

“With Forge having recently completed the new letting to Deichmann Shoes, it was great to help our long-standing client, WIPL, capitalise on this and achieve a successful sales process. The property attracted considerable interest from a range of UK based and overseas investors, which resulted in a competitive bidding process, culminating in a successful sale to a French SCPI.”

For further information on this transaction, or to discuss Forge’s upcoming sales and investment opportunities, please contact Jonathan Mills, Joe Baio or Georgia Welch.

Reshape-ing the High Street

Forge are delighted to welcome 1Rebel to Clapham High Street.

Occupying the iconic former Revolution unit, 1Rebel will introduce their signature Reshape and Reformer classes, alongside their new Reset cold plunge and sauna concept – bringing a premium fitness and wellness offer to the heart of Clapham.

This letting marks the next stage in the continued evolution of Clapham High Street. Known for its night-time economy and vibrant food and beverage scene, recent arrivals including Marks and Spencer Food, Vision Express, Holland & Barrett and Townhouse, alongside an enhanced restaurant offering from best-in-class operators including Lina Stores, Rudy’s Pizza Napoletana and Berberè, are helping to create a diverse, all-day destination where people can shop, dine and exercise, as well as maintaining a strong core night-time offer.

Forge currently have two further leasing opportunities available on Clapham High Street.

For more information, please contact Liam Jones.

CBREIM sell prominent Richmond block

Forge has advised CBRE Investment Management on the disposal of 35 – 40 The Quadrant, Richmond upon Thames.

The property occupies a prominent trading position on The Quadrant, located between Richmond Station and George Street, thus benefitting from consistently high levels of pedestrian footfall.

The ground floor parade provides 5,752 sq ft of well configured retail accommodation and is fully let to four popular national brands: Greggs, Flying Tiger, Flight Centre and Snappy Snaps.

Joe Baio commented:

“We were delighted to advise our client, CBRE IM, on the successful disposal of 35 – 40 The Quadrant. A full-scale marketing campaign generated a competitive bidding process, attracting both domestic and international capital and delivered a strong exit for our client. The transaction reflects the depth of investor demand for well-located High Street assets, even where comprehensive asset management has been delivered, but the long-term fundamentals remain compelling.”

For further information on this disposal, or to discuss Forge’s upcoming sales and investment opportunities, please contact Joe Baio, Jonathan Mills or Georgia Welch.

LondonMetric Sell Co-op in Wallasey

Forge has advised on the successful sale of a long-let convenience food store investment at 83-85 Wallasey Village, in Wallasey.

The property is let to Co-Operative Foodstores Limited on FRI terms until April 2037, providing 12 years unexpired, with attractive annual fixed uplifts of 2.25%. The lease is guaranteed by Co-operative Group Limited, offering secure and growing income backed by one of the UK’s most established convenience operators.

The asset occupies a prominent position on the main A551 through Wallasey Village, sitting at the heart of a dense residential catchment. The substantial 0.83 acre freehold site, 9,359 sq ft of purpose-built accommodation and dedicated customer parking combine to provide a strong, accessible convenience offer in a well-connected coastal location.

Joe Baio commented:

“A hard-fought result for our valued client, LondonMetric, and we’re delighted with the outcome. The price achieved reflects a carefully executed marketing campaign that identified an overseas private investor with a specific requirement for well-let convenience store income.”

For further information on this sale, or to discuss Forge’s upcoming sales and investment opportunities, please contact Joe Baio, Jonathan Mills or Georgia Welch.

Forge Act on 100% Prime Oxford Purchase

Forge are pleased to have advised DTZ Investors on the acquisition of 43 & 44-46 Cornmarket Street, Oxford.

The property occupies a 100% prime position on Cornmarket Street, Oxford’s busiest retail throughfare, in the heart of this historic and globally recognised University City.

Comprising approximately 15,837 sq ft NIA of well configured retail accommodation, the property is let to National Westminster Bank Plc and McDonalds Restaurants Limited. The property is let off recently re-based rents following a new letting to McDonalds and a lease re-gear with NatWest.

Jonathan Mills commented:

“We were delighted to secure this on-market acquisition for DTZ Investors against a very competitive bidding environment. Freeholds on Cornmarket rarely become available and with both institutional grade tenants having recently committed to the property, we are confident in the property’s future performance potential.”

For further information on this transaction, or to discuss Forge’s upcoming sales and investment opportunities, please contact Jonathan Mills or Joe Baio.

Cambridge Acquired for International Investor

Forge are delighted to have secured a 100% prime, well‑let retail investment in the centre of Cambridge on behalf of a private, international buyer.

Located on the northern side of Petty Cury, in the heart of Cambridge’s historic retail core, the property is fully let to Nationwide Building Society on a full repairing and insuring lease until 16th October 2033. This provides an attractive 7.5 years of secure, institutional grade income.

Jonathan Mills commented:

“We were delighted to secure this on-market acquisition for our private client amongst a highly competitive bidding environment. The property comprises one of the most attractive, freehold retail units in Cambridge and follows shortly after our recent purchase of a 100% prime freehold block in Oxford. These trophy assets rarely become available and we are therefore delighted to be able to secure them for our respective clients.”

Ian Webster Commented:

“We’re really pleased to execute our clients objective of securing well configured, prime space in central Cambridge with a compelling occupational story. Cambridge is going from strength to strength with a number of outstanding requirements and lack of stock which bodes well for rental growth in the medium/long term. Thank you to Chris Ward, head of lease advisory at Forge who assisted and made this deal a real team effort across Forge’s investment, agency and lease advisory teams.”

For further information on this acquisition, or to discuss Forge’s upcoming investment and agency opportunities, please contact Jonathan Mills, Ian Webster or Joe Baio.

Forge Sell Two For KFIM

Forge are pleased to have acted on behalf of Knight Frank Investment Management (KFIM) on the sale of two well-located High Street properties.

70 North Street, Chichester is prominently positioned on North Street and is let to Nero Holdings Limited, while 41A George Street, Richmond occupies a prime position on George Street and is let to Jigsaw on a new five year lease.

Joe Baio commented:

“We are proud to have delivered two strong outcomes for our valued client, KFIM, achieving compelling NEY exits in both cases. These positive results bring to a close Forge’s long-standing involvement with the respective properties, which has included two lease renewals of Jigsaw in 2020 and 2025, as well as the original letting to Nero’s, followed by a regear in 2020.”

For further information on these transactions, or to discuss Forge’s upcoming sales and investment opportunities, please contact Joe Baio or Jonathan Mills.

Forge Acquires Prime Marylebone Asset

Forge are pleased to have acquired 5 Paddington Street, Marylebone, on behalf of a private family, following a competitive on-market process.

The property is situated in a prime Central London location, occupying a prominent position on Paddington Street, just a few feet from Marylebone High Street.

The micro location continues to strengthen, supported by recent high-quality openings nearby, including the Michelin-star mediterranean restaurant Lita.

The building comprises five storeys of attractive, mixed-use accommodation, totalling 3,431 sq ft, with commercial space at ground and basement level and residential accommodation on the three upper floors.

Joe Baio commented:

“We are delighted to have secured this rare freehold investment in Marylebone following a highly competitive bidding process. The property’s mixed-use profile and well-established income stream aligned precisely with the objectives of our long-standing private client, making this a particularly satisfying acquisition to deliver. This transaction caps a notably active year for Forge in the Central London market, reflecting a breadth of activity across our investment, agency and lease advisory teams.”

For further information on this transaction, or to discuss Forge’s upcoming sales and investment opportunities, please contact Joe Baio or Jonathan Mills.

100% Prime Bath Retail Parade Acquisition

Forge are pleased to have acted on behalf of an institutional purchaser for the acquisition of 42-48 Southgate Street, Bath.

The property occupies a 100% prime retail position opposite the entrance to the Southgate Shopping Centre, in the heart of Bath, an exceptionally attractive and historic city, and one of the strongest retail centres in the UK.

Comprising two well-configured retail units, the property is let to Superdrug Stores plc and H&M Hennes & Mauritz UK Limited. Both tenants have renewed their leases within the past year at rebased rents, reaffirming their commitment to this key retail location.

Jonathan Mills commented:

“We were delighted to complete on the acquisition of this 100% prime retail parade. The property is let off fully rebased rents to two institutional grade covenants and with the purchase price reflecting a Net Initial Yield of 7.50%, we believe there is plenty of scope for future rental growth and capital appreciation.”

For more information, or to discuss similar opportunities, please contact Jonathan Mills or Joe Baio.

DTZ Investors sells St Anns Square

Forge are pleased to have sold St Ann’s Square in Manchester on behalf of DTZ Investors.

The property comprises a substantial, mixed-use Freehold block in the heart of Manchester City Centre, offering a number of deliverable asset management opportunities for the purchaser, a Manchester-based private property company.

Jonathan Mills commented:

“This successful sale represents the culmination of a great team effort at Forge, with the team having advised DTZ investors in both an occupational agency and lease advisory capacity since the original purchase. As such it was great to see the property through its full life cycle and to help achieve a successful exit for DTZ investors “

To discuss similar opportunities in the major regional retail centres, where Forge can provide market leading advice across the investment, agency and lease advisory teams, please contact a member of the team.

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