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HOSPITAL RETAIL

Paul Knight BSc FRICS, our partner in charge of Hospital Retail & Catering, has been involved in the provision of retail advice in the Acute Hospital sector since 2002 and is now recognised as an authority on the subject in the UK marketplace.

 

Paul has seen the market grow organically over the intervening years and, following a short period of consolidation during 2008/9, has helped bring new retailers and brands into the sector. This has resulted in increased competition for space and enhanced returns for Trusts & Investors.

 

Jack McMullan BSc (Hons) MRICS joined the practice in 2012 and has recently been involved in the appraisal and market testing of a number of our hospital projects.

 

During the past few years we have been involved the following:-

 

  • Norfolk & Norwich Hospital – assignment of café lease to Serco.

  • Derby General Hospital – surrender and reletting of WRVS cafe to Compass Group trading as Costa Coffee.

  • Queen Alexandra Hospital, Portsmouth – letting on behalf of Carillion to Compass Group trading as Amigo Shop.

  • Queen Alexandra Hospital, Portsmouth – letting on behalf of Carillion to Compass Group trading as Costa Coffee.

  • Gloucester General Hospital – surrender and reletting of retail unit to Compass Group trading as Amigo.

  • Gloucester General Hospital – surrender and reletting of WRVS café to Compass Group trading as Costa Coffee.

  • Walsgrave Hospital, Coventry – surrender of WRVS lease and reletting of convenience retail unit to WH Smith.

  • Gloucester General Hospital – surrender of reversionary lease and deferred reletting to Compass Group trading as Amigo Shop.

  • Norfolk & Norwich Hospital – surrender of WRVS shop and reletting to Compass Group trading as Amigo Shop.

  • Derby General Hospital – surrender of WRVS café and reletting to Compass Group to trade as Amigo Café.

  • York General Hospital - Sale of an existing lease of a 1,300 sqft (121m2) convenience store on behalf WRVS to Compass Group by way of an assignment.

  • Birmingham Heartlands Hospital, Solihull - Sale of an existing lease of a 3194 sqft (297m2) convenience store on behalf WRVS to Compass Group by way of an assignment.

  • York General Hospital - Sale of an existing lease of a 2,423sqft (225m2) cafe on behalf WRVS to Compass Group trading as Costa Coffee by way of assignment.

  • John Radcliffe Hospital, Oxford - Negotiation of a surrender and back-to-back re-letting of a 2,500sqft convenience store lease to Compass Group on behalf of WRVS.

  • Great Western Hospital, Swindon – originally let the shop space to RVS and dealt with first renewal on behalf of Trillium/Land Securities and subsequently appointed to market test on second expiry resulting in a change of occupier to Compass (Costa/Amigo).

  • Lothian Health Trust – advised RVS in connection with 12 no. shop and cafe lease renewals

  • Taunton Musgrove Park Hospital – advised Taunton and Somerset NHS Foundation Trust in connection with retail strategy and tactics and subsequently executed a market testing exercise and successfully let units now trading as M&S Simply Food, Costa Coffee and M&S Café

  • Southmead Hospital Bristol – initially advised the PFI bidder (Carillion) in connection with non-clinical income aspects of the bid, layout, design and specification and opportunities to maximise revenue which resulted in the bidder underwriting a certain amount of set off against the unitary payment. Following financial close we advised on leasing strategy and dealt with the marketing and leasing of the retail and catering accommodation which was ultimately let to Compass Group trading as Costa (2 units), Amigo Shop with Phase 2 was pre-let to M&S Simply Food (opening this year)

  • Alder Hey Children’s Hospital Liverpool - initially advised the PFI bidder (John Laing) in connection with external income aspects of the bid, layout, design and specification and opportunities to maximise revenue. Following financial close we were immediately instructed to deal with the marketing and leasing of the retail and catering accommodation and all three units were pre-let to WHSmith and Compass Group (trading as Costa & Baguette Co) with aggregate rents above the amount that was underwritten by the consortium against the unitary payment.

  • Cwm Taf University Health Board – advised an occupier in connection with the regearing of commercial retail leases at Royal Glamorgan Hospital Llantrisant, Prince Charles Hospital Merthyr, Ysbyty Cwm Cynon and Ysbyty Cwm Rhondda.

  • John Radcliffe Hospital, Oxford – Formal market testing on behalf of PFI operator, resulting in letting of vacant retail unit, in conjunction with an existing café, to Pret a Manger within the Children’s wing. This is Pret’s first opening in this highly competitive sector.

  • Morriston Hospital Swansea – bid for retail space on behalf of an occupier within new entrance block

  • South Glasgow University Hospital – bid for retail space on behalf of an occupier within new hospital development (non PFI)

  • St Bartholomew's Hospital, London – bid for retail space on behalf of an occupier within numerous hospital locations (non PFI)

  • Queen Alexandra Hospital, Portsmouth – bid for retail space on behalf of two occupiers within existing concourse

  • Sheffield Hallam - bid for retail space on behalf of retail occupier at reconfigured main entrance

  • Royal Liverpool University Hospital – initially advised PFI consortium in connection with successful bid and subsequently retained by Carillion to advise on retail & catering Leasing strategy and selection of retail partners. New concourse scheduled to open early 2018. Ongoing coordination with Trust’s Estate and Finance teams.

  • The Christie, Manchester – advised on the concourse redevelopment that opened in September 2017. Advice given on strength of market and retail options, design and layout, formal market testing and leasing through to deal closure. Lettings to WHSmith and M&S Café & Food to Go

together with numerous other confidential tasks on behalf of bidders, investors, Trusts and retailers

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