Superdrug has completed its second deal in Oxford this year.
Following expansion of its ground floor store in the Westgate Shopping Centre (pictured), where it now has 6,792 sq ft in Units 21 & 22 on a 10-year lease with a tenant break and rent review at year five, the retailer has done a deal for a new store at Cowley.
The latest deal involves the 6,162 sq ft Poundland shop at Unit 1c in the Templar Shopping Park. Superdrug has exchanged on an agreement to lease the unit which is managed by CBRE Investment Management and Quadrant Estates, on behalf of landlord Hampshire Pension Fund, on a 10-year lease with a tenant break and rent review at year five,
Fit out is due to begin imminently.
Superdrug was advised by GCW on both deals.
Simon Horner of GCW said the moves highlight Superdrug’s continued strategy to grow and modernise its portfolio, with Oxford providing a prime example of the retailer’s dual focus on:
- Upsizing in high-footfall city centre shopping centres
- Targeted expansion across well-performing retail parks
Superdrug is currently exceeding its annual target of 25 new store openings for the year.
CBRE acted for Landsec and CSP represented the landlord at Templar Shopping Park.
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