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Rent savings of 40%

Josh Gettins
Contact Josh

to find out how we can help you.
07545 846799 [email protected]
40% Rent saving
Retail Sector
200+ Deals completed

Cited have completed 200+ deals on behalf of Claire’s, with an average rent saving of 40% per lease renewal/regear, as well as acquiring new stores on Oxford St (London), Above Bar (Southampton), Princes St (Edinburgh), Gateway Retail Park (Banbury) and Riverside (Stafford) to name a few.

Claire’s Accessories operate 2,300 Claire’s stores in 17 countries throughout North America and Europe and 190 ICING stores in North America. Claire’s Accessories also sells Claire’s products in thousands of concessions locations in North America and Europe, and we have more than 300 franchised Claire’s stores, located primarily in the Middle East and South Africa.

Challenge

Cited has acted for Claire’s Accessories since 2019 and are instructed on all lease renewals, lease regears and new store acquisitions throughout the UK.

At the start of the Covid-19 Pandemic, Cited were instructed by Claire’s Accessories to advise on the restructuring of all their commercial leases, focusing on achieving flexible terms and significant rent saving throughout their portfolio of stores.

Result

Since then, Cited have completed 200+ deal on behalf of Claire’s, with an average rent saving of 40% per lease renewal/regear, as well as acquiring new stores on Oxford St (London), Above Bar (Southampton), Princes St (Edinburgh), Gateway Retail Park (Banbury) and Riverside (Stafford) to name a few.

Josh Gettins
Contact Josh

to find out how we can help you.
07545 846799 [email protected]

"Our involvement on this asset stretches back to 2017 when we helped AEW on the acquisition. Since then our team have remained involved, helping to bring new life to the parade with occupiers including Specsavers and Kokora. It was a pleasure to be asked to assist on the sale, and to achieve such a fantastic price, some 25% ahead of valuation, was a great way to complete the story."

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AEW Bradley Maher - Director

"This was a complicated purchase of multiple assets located nationwide. The challenge was largely the appeal, as we could see real value creating potential in this portfolio. Once we had agreed the purchase, off-market, we helped our client prioritise the most attractive value-enhancing asset management. Cited's existing relationships with occupiers and the agency community helped us significantly improve the purchase metrics ahead of the purchase completion."

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Evolve Estates Bradley Maher - Director

"Cited are committed to deliver on Claire’s business plan of 10+ new stores a year in the UK, entering new locations, as well as relocating existing stores. At Cited, we pride ourselves on our ‘hands on’ approach to work. From identifying new store opportunities on town trips, negotiating terms, through to completion, we ensure we are there every step of the way to advise our client as best as possible. "

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Claire’s Accessories Josh Gettins - Surveyor
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