Workington Letting in Tough Market Pays Off for Craigard
Craigard has let its 10,000 sq ft retail site in Pow Street Workington on a 10 year lease.
The letting, to British Heart Foundation is at £61,000 per year rising to £65,000. There is a break at year six. Store Twenty One, the previous tenant at the site vacated under a CVA and has since gone bust. “We instigated a targeted campaign to promote the site and had good interest - but the actual letting came about through our existing landlord and tenant relationship with BHF at Darlington,” comments Paul Foster of Craigard. “The retail market in that area hasn’t been an easy one, but this is a good outcome for our syndicate as the reletting has meant the site can continue to provide positive a positive rental income. BHF is a really solid occupier and its home and electrical brand will work well in this pitch. We look forward to continuing to work with our new tenant to maximise the space in the future.”