Argos

British Land

Dixons Stores Group

Railway Pension
   Nominees

Sainsbury's

Waterstones

Wilkinsons

Dixons Stores Group

	Client	Dixons Stores Group
	Project	High Street West, Sunderland
	Location	Sunderland
	Key Services	Rent Review
	Upon receipt of client's instructions we contacted the landlord's agent one month before the effective review date and confirmed our opinion that no increase was warranted. We advised Dixons Stores Group in respect of the rent review relating to their store in High Street West, Sunderland. The landlords proposed a significant increase in rental of almost 70%, but GLH contended that on the basis of the existing evidence and changes in the relative strength of the retailing 'pitch' in which the property is located, the rental growth should be limited. In this latter regard, with the opening of the Bridges Shopping Centre and the movement of the retail hub away from High Street West, the location of the property was no longer prime. Following extensive negotiations a settlement was achieved reflecting an increase of marginally over 10%, including an allowance for 'Quantum' and the excessive amount of ancillary accommodation.