Guildhall Shopping Centre – Stafford
Under an Agreement for Lease negotiated by ESTAMA, six units will be amalgamated to create a food court with four trading brands to include: Subway, Aroma Coffee (sister brand to Caffe Nero), Wrapchi and Mexi-Can. The 15-year lease has been agreed with global food services business Aramark Limited with a 10th anniversary break option alongside a £299,000 penalty for earlier break. A fixed base rent in year one will rise in year two and then see annual upwards reviews based on 70% of the previous year’s turnover. Turnover rent will begin at 12% rising to 13% if turnover exceeds £2.35m. The deal is estimated to deliver a £350,000 NOI shift.
The development will also see the repurposing of existing space to include the creation of an incubator workspace for local trades and crafts such as carpentry, brewing and metal works and dedicated events space. A car park extension is also planned. Alongside this, the popular town market will relocate into the scheme delivering a NOI swing of £100,000 per annum.
potential NOI shift
Fixed income deals
with upside of turn
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