Retail Property - Matalan picks up former B&Q on Isle of Wight

B&Q has disposed of two Supercentres made redundant by the construction of new Warehouse stores.

In Newport, Isle of Wight, Matalan has taken an assignment of the 35-year lease from February 1991 on the 37,005 sq ft (3,440 sq m) unit at St George's Way at the passing rent of£470,000 a year.

The store became surplus to B&Q's trading requirements after the opening of its new Warehouse store on the former College site off Medina Way, Newport.

Additionally, in York Road Doncaster, CDS (International Superstores), trading as the Range, has taken an assignment of the 35-year lease from October 1985 on a 67,605 sq ft (6,230 sq m) unit at the passing rent of£550,000 a year.

B&Q was advised by FPD Savills and Gilbert Bath.