Riverside Capital has let a retail unit in Leeds, part of its 2016 forward funding project comprising three retail properties, to One Below Limited.
The unit, previously occupied by Poundworld Retail Limited, has been let for a ten year term with upward only rent reviews.
One Below Limited was created by the original founders of Poundworld Retail Limited and promises to sell everything for £1 or less, included household brands. The store will have more than 5,000 products on offer, including groceries, health and beauty, toys, DIY and gardening. The brand already has 12 stores across the country, including Leeds, Nottingham and Manchester.
The new tenant provides a valuable addition to Riverside Capital’s Leeds investment, complimenting existing discount occupiers Aldi UK and PureGym.
Dominic Wright, CEO at Riverside Capital says: “The strength of the location of this property in Leeds has meant that we have been able to once again achieve a fully let and income producing asset for our investors. In addition, this letting has added a significant uplift to the valuation of the asset.”