B&M STEPS INTO SAINSBURY’S FOOTPRINT
B&M Stores has agreed a letting on a recently vacated retail unit in Hitchin town centre that was once home to a Sainsbury’s supermarket.
The property in Brand Street was vacated by Sainsbury’s some 10 years ago and then divided into two retail units and let to New Look and Argos. The recent CVA by New Look and the ability to move the Argos store into the current Sainsbury’s store in Hitchin facilitated vacant possession of the entire site.
The two retail units are being combined to create a large store of 12,750 sq ft at ground floor and 5,450 sq ft at first floor. It has been let to B&M Stores for 10 years at a commencing rent of £130,000 per annum.
The remaining 8,000 sq ft at first floor has been let to Pure Gym on a new 15-year lease at £75,000 per annum.
HRH Retail acted for Sainsbury’s throughout.