Nominal void period as new lease completes

Cambray Place

KBW has secured the letting of the upper floor offices at 32 Cambray Place, Cheltenham. The previous lease expired on 24th December 2015, with the new lease completing on 8th January 2016, resulting in the landlord only experiencing a nominal void period of 2 weeks between leases. The new lease has been taken by therapeutic consultation specialist The Practice Rooms. The facility will represent its 6th centre throughout the South West.

Two new leases completed at town centre property

17 Pittville Street          17 Pittville St int

New leases of both the ground floor & basement retail unit and self contained upper floor offices have been completed at 17 Pittville Street, Cheltenham. KBW agreed terms with Countrywide Plc for a new lease of the first and second floor offices following expiry of its lease of the entire building. Simultaneously, a new lease of the retail unit was agreed with Grape Tree to enable its relocation from The Beechwood Arcade. In addition to agreeing terms for the new leases, KBW also prepared and oversaw a schedule of dilapidations works which were undertaken by Countrywide Plc.

Papa Johns investment sale completes

Silverdale Parade

Having secured a new lease of 10 Silverdale Parade to Papa Johns in October 2015, KBW has agreed a sale of the property to a local investor. The sale price represents a net initial yield of approx 5.99% after purchasers costs at 2.8%. KBW acted on behalf of Betfred.