On behalf of a private Midlands based investor and owner of 30/31 Silver Street, Durham, Sanderson Weatherall have negotiated a surrender of Arcadia's lease on the four storey 4,800 sq ft, prime retail property formerly occupied by Dorothy Perkins and Burton and simultaneously relet the premises to SuperGroup t/a Superdry.
The Dorothy Perkins and Burton brands have relocated into the BHS store within the City.
SuperGroup agreed a new 10 year FRI lease with review in year 5 and subject to an initial rent of £140,000pa.
Bob Fletcher at Sanderson Weatherall's Newcastle Office commented - "this is a landmark letting for a prime unit in Silver St - Durham's principal retail thoroughfare - and demonstrates the depth of demand for the historic city centre pitch. The deal was done off market but there was other strong interest from a number of other interesting retailers. The SuperGroup brand is one of the hotest on the high street at the moment and the Superdry label seems to have a keen following in the North East inparticular".
In addition to negotiating the terms for surrender and reletting SW’s Building Surveying Department undertook a structural and full measurement survey and monitored the tenant’s shopfitting works to the Listed Building.
The services that are used in this case study are shown below