Andrew Shepherd Director at AS Retail shares exciting news on acquisition needs, great clients and successful deals.

Jetts 27/7 Fitness Powers to Milestone

AS Retail are retained by affordable premium fitness brand Jetts to continue their expansion throughout England in 2025.

Originating in Australia, Jetts are an exciting brand in the fitness space offering a premium experience in a seriously cool environment with top quality equipment and instructors but at an affordable membership price point. Membership numbers are capped meaning that there is never a queue.

Jetts are about to open their 20th UK club in the London suburb of Burnt Oak having opened clubs recently in Central Manchester, Leeds (Colton) and the leafy market town of Farnham in Surrey. There are a number of additional new clubs progressing through legals including locations in Basingstoke, Berkshire, The Midlands, Yorkshire and London.

However they are eager for more clubs of between 5,000 – 10,000 sq ft (we can go a little larger or smaller) across England with a view to working towards a 100 strong network over the coming few years. Operating a ‘business owner’ led model the partners are rigorously selected with the intention of being multi-club owners and they can expect unrivalled assistance from the support office.

Andrew Shepherd, Director at AS Retail, who leads the Jetts account commented: “We have worked with Jetts for a number of years but the expansion is now accelerating with a number of new business owners seeking their first clubs and existing partners looking to expand to their second, third and forth clubs owing to the successes of their existing ones. Please contact myself, Ollie Haxton or Georgina Massey at AS Retail to discuss anything that you think might be suitable.”

Cards Direct Continues to Expand

AS Retail are proud to represent Cards Direct who opened an amazing 21 new stores and completed one relocation in 2024.

Cards Direct are a family owned, vertically integrated retailer of greetings cards, gifts and party items based out of Hertfordshire. Now trading from over 80 locations nationwide we are actively pushing towards the 100 store milestone in 2025.

Recent openings including Chichester, Guildford, Hinckley, Corby, Leeds, Sheffield (Crystal Peaks), Wakefeld, Hull (Northpoint and City Centre), Cwmbran, Newport and Doncaster. Each units it fully refitted, looking sharp and inviting with an extensive product range offering excellent value for money.

Andrew Shepherd, who leads on the searches for Cards Direct commented: “2024 was an exceptional year for Cards Direct with over twenty new stores, making us one of the most acquisitive retailers in the market. We plan to continue that momentum in 2025 with new stores required to infill the existing geography which stretches from Yorkshire to the South Coast and over to Wales and the West Midlands, as well as expanding into new areas. Please contact me if you have anything with a regular 1,200-2,000 sq ft clear sales in a busy location that may suit us.” 

Golders Green Welcomes Pret & Gails

Acting on behalf of Church Commissioners for England AS Retail have completed a number of transactions in the busy North London suburb of Golders Green.

We have successfully relet the Grade II Listed former HSBC bank which sits on the corner of Golders Green Road and Finchley Road opposite Golders Green underground station to Gails. A number of offers were received but we felt the Gails offering would work exceptionally well in this location with them being able to make use of the circular ‘hard’ frontage and a listed banking counter. Gails have taken a 10 year lease.

Carebrook Limited who are the selected franchise partner for Pret have acquired the former Virgin Money adjacent to Gails, at 2 Golders Green Road on a 15 year lease. The unit comprises approx. 1,200 sq ft over ground floor only.

We have also recently successfully negotiated a reversionary lease with Lloyds Bank to extend their occupation by a further three years at passing rental. All these three deals have helped to optimise the block which has now been divested.

Blanchflower Lloyd Baxter acted for Pret, Gails represented themselves and CBRE acted for Lloyds.

Truro Block Optimised

AS Retail have successfully negotiated a variety of retail deals for an Institutional Investor in the Cathedral City of Truro.

Acting on behalf of the landlord over the past few years, AS Retail have advised on the five units at 100 Pydar Street. Totalling c. 25,000 sq ft this block sits in a strong trading location on the principal shopping street; it is now fully let to excellent tenants with a robust lease profile.

Lease re-gears have been concluded with Sharps, the leading Bedroom and furniture brand, and Nationwide Building Society who entered into a reversionary lease. New 5-year leases without break options have been negotiated with HMV and Sports Direct to secure their occupation and finally, after a lengthy marketing campaign where other deals have been agreed but aborted, the former Next at Unit 1, totalling circa 16,000 sq ft over ground and second floors, has been successfully let to Poundstretcher who are currently fitting out.

Andrew Shepherd, Director at AS Retail who advised the landlord on all the transactions commented: ‘We were asked to assist by this major landlord in 2021; over the last five years we’ve worked relentlessly, against a challenging backdrop, to optimise the asset for them. Various connotations of deals have been negotiated with the different occupiers and we are thrilled that Poundstretcher have taken the whole of the former Next store, making the block 100% let. This unit is subject to a highly inflated Rateable Value and, in order to make the deal work for both the landlord and the tenant, we found a very creative deal structure which, credit to Poundstretcher, they were happy to embrace. We thank them for their efforts in getting the deal done and wish them success with their trading.”

We at AS Retail are currently advising on other similar situations nationwide but please do not hesitate to contact us should you require any assistance on your portfolio.

Local agent Miller Commercial acted jointly with us in the marketing of Unit 1. Mason & Partners acted for Poundstretcher, Green & Partners acted for Sports Direct and LSH acted for Nationwide. HMV and Sharps represented themselves.

You can view all of the commercial property listed by AS Retail on NovaLoca here.

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