Trimdon Street Retail Park, Sunderland

Through regular tenant liaison the Fund worked in partnership with Curry’s PC World to consolidate their occupational footprint from 33,000 to 20,000 sq ft and ultimately extend their lease commitment to the Park for a further 5 years.

By being aware of the tenant’s changing occupational requirements the Fund were able to mitigate a potential void and identify a new tenant to take the floor space yielded up by Curry’s so that a new letting was completed contemporaneously with the surrender. JD Sports Gyms signed a new 10 year lease on the area surrendered by Curry’s and in doing so added a new complimentary use to the Park, improving the tenant mix and diversity of income stream.  The letting incentive granted to JD Sports was less than the surrender premium received from Curry’s creating a positive cashflow for the Fund.