11 December 2012
BROOKGATE COMPLETES THREE NEW RETAIL LETTINGS AT CB1 DEVELOPMENT
Local and national brands join the line up at CB1
Cambridge, December 2012 – Brookgate, the Cambridge-based mixed-use development company, has completed three new retail lettings for the CB1 development to local restaurant Le Gros Franck, retail chain Co-op and Costa Coffee. The three companies each agreed leases of 15 years, and will occupy the ground floor level of the Anglia Ruskin student accommodation buildings. Headline rents for the deal were £25 per sq ft.
Sven Töpel, Chief Executive of Brookgate said:
“We are pleased to welcome costa, Co-op and Le Gros Franck to CB1. These lettings clearly demonstrate CB1’s unique ability to attract local and international brands alike. They will also create new jobs, ensuring that the development offers a complementary addition to the convenience retail and restaurant provision in the City.”
The three TP Bennett designed student accommodation buildings were completed by Brookgate and construction firm Wates Construction in June 2012, making way for the first wave of students that moved into the blocks in September 2012.
Bidwells and Savills acted for Brookgate in the transaction, with Costa, Co-op and Le Gros Franck acting for themselves.