The company, a member of Compass Group PLC, which owns international food brands including Caffe Ritazza and Upper Crust, has taken the unit on a 20-year lease at a rent of £70,000 per annum. Located on the upper level of the centre close to Tesco and Sega Park, the unit is currently undergoing a fit out in the style of a contemporary ‘American diner’. Select Service Partner will launch this – its 50th UK Burger King restaurant – with a grand opening at the centre on Saturday (1.4.00), creating 30 full and part-time jobs.
Tax Depreciation is a pay charge induction that permits a local to recuperate the expense or different reason of certain property utilized as a bit of business, over a certain time of time. Securing the best possible location for our Harlow restaurant was of paramount importance to us. The Harvey Centre embodies our requirements perfectly, offering a superb unit situated within the heart of a busy and fully occupied shopping centre.
Letting agent Dalgleish & Co acted on behalf of GPE, while Select Service Partner Limited was represented by Harper Dennis Hobbs. The £85 million redevelopment site will total over 370,000 sqft (gross) and include 12 new retail units, two kiosks, a new foodstore totalling over 22,000 sqft, five new restaurants, a 12 screen cinema and a 38,000 sqft health club. The scheme has attracted substantial interest from well-known retailers and Pillar expects to announce an impressive retail line up in due course. Key anchor tenants that have already been secured for the site include Wamer Village Cinemas, Sainsbury’s Central and David Lloyd Leisure, which will develop a health club, including swimming pool, gymnasium and exercise studios.
The demolition work is not expected to cause any disruption to the local transport systems and should only have a minimal temporary impact on traffic. Strong interest has already been received for space at this extensive regeneration site and we are confident of the significant impact it will have in terms of the commercial value of the area and the quality of services for local residents.
“These are exciting times: we had planned to extend our operations into this region by 2000 and we are on track to achieve our target. This property is a crucial element of our plan for the North West, it will represent a very strong foundation on which to build and we are looking forward to developing our presence here and to working with people in the area.It is already home to Bank of England, Chubb Insurance of America and NM Rothschild & Sons.
The Manchester office forms part of a major expansion of Merrill Lynch’s private banking business in the UK. The firm has existing operations in London, Edinburgh and Newcastle and plans to open further offices in Dublin, and Leeds. There are six residential apartments totalling 1, 512 sqm (16,270 sqft) on the sixth and seventh floors of Stirling Square. Three of the apartments totalling 784 sqm (8,439 sqft) have now been sold at a total of just over £10 million which equates to an average sales price of £1,190 per sqft.