Whitbread expands Costa outlets to No. 1 Tithebarn

Michael Hunt

The coffee shop brand has occupied a 2,900 sq ft unit at ground floor within No. 1 Tithebarn on the corner of Old Hall Street and Tithebarn Street in Liverpool city centre.

John Barker, a retail specialist at Hitchcock Wright & Partners, which acted on behalf of owners of the building, ARC Property Fund, said: "Costa completed a deal on a ten-year lease at £34,000 per annum."

Earlier this week, Whitbread said like-for-like sales at Costa outlets rose 2.7% in the 24 weeks to 13 August. In an announcement made on the London Stock Exchange, Alan Parker, chief executive officer of Whitbread, said: "Costa has 969 stores in the UK as a result of opening net 88 outlets so far this year."

Developer and investor Kenmore Property Group appointed Ardmac to complete a £5m refurbishment of No. 1 Tithebarn, formerly known as Tithebarn House, on behalf of ARC.

The building provides 110,000 sq ft of office space over eight floors, with floorplates ranging from 1,970 sq ft to 19,580 sq ft, and three ground floor retail units. The quoting rent is available on request. Existing tenants includes Morecrofts Solicitors and Merseyside Police Authority.

Keppie Massie are joint office letting agents.

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