Retail Property - Argos forks out record rent for Solihull outlet

Argos is understood to have paid a record out-of-town rent of£35 per sq ft (£375 per sq m) in Solihull to secure a unit on Isis Property's Sears Retail Park.

The catalogue retailer has taken a 10,000 sq ft (930 sq m) unit on a 15-year lease. Other tenants at the 117,000 sq ft (10,870 sq m) retail park include JJB Sports, Homebase, Furnitureland and Comet.

Isis Property asset manager George Cotton said: 'Solihull is one of the wealthiest conurbations in the Birmingham area, with a great deal of demand for national names at easily-accessible shopping destinations. This letting to Argos adds another dimension to the offer and demonstrates the strength of retailer demand here.'

ISIS Property, advised by Knight Frank, acted for Friends Provident.

Colliers CRE represented Argos.