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Case Studies

Case Studies

Fact File
Location Reading
Type Retail
Issue A new lease for a new unit
Project Manager Gordon Muir
Contact
0118 955 7092

Bringing an exciting new tenant to the entrance of Broad Street Mall

Client Issue

Hicks Baker was tasked by our clients to market a recently created kiosk unit located at one of the entrances to Broad Street Mall. A new tenant was required that:

  • Served as an attractive entryway to the mall
  • Provided a stable rental income for the landlord

Solution

The property was extensively marketed, with significant interest coming from smaller, independent operators. Any interest was interrogated to ensure that a new tenant could be both successful at the location and be an attractive asset for the mall. A franchisee for a major bubble tea operator was thought to be the best option, offering both an attractive shop-fit and bringing a quirky new food and drinks option to the mall.

Outcome

A new 5-year lease was agreed with the franchisee at a rent of £15,000 which reflected a net Zone A rate of £71.95/ft².

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