Freehold acquisition of St Georges Place, Canterbury.
Aldi (represented by Cradick Retail) is vacating the premises and Clavis Walden has procured vacant possession of two other elements to restore the property to a single supermarket which they have agreed to let to Waitrose, subject to planning changes. Waitrose will take a 20 year lease on the store, to accommodate the full Waitrose food and drink offer on 25,000 sq ft of trading space at ground floor. The adjoining retail parade will remain unchanged.
This letting forms part of the regeneration of St Georges Road which also includes a 234 bedroom student facility under construction on behalf of Christchurch Canterbury University.
The transaction was arranged by fund manager Clavis Walden Investments, with Boultbee and Aurum Real Estate providing the equity.