Q&A with Lauren Judson, Property Acquisitions at Neptune
Name: Lauren Judson
Role: Property Acquisitions
Company: Neptune
Who are Neptune?
It started with a hammock, 21 years on the hammock has evolved into a very select collection of beautiful furniture and accessories helping our customer create their perfect home. From kitchens to hallways, from bedrooms to perfect garden sets, we are the whole home specialist.
How many stores do Neptune currently have?
We currently have 21 stores, soon to be 22 with Chichester opening in November.
Target locations?
We are looking North and South of the M25 (Hertfordshire and Surrey/West Sussex).
Other areas include: Cowbridge (South Wales), Edinburgh/Glasgow, Harrogate, Market Harborough/Stamford, Oxfordshire (North Oxford) to name a few...
How many new stores are you targeting?
We plan to open 5 stores a year.
Size requirements?
We are looking for standalone, character buildings with parking and good road frontage in or around the target locations mentioned above.
5,000 - 7,000sq ft or at least 0.5 acre, (we will consider less floorspace if there is development potential).
Planning consent?
We require A1 retail, although we will look at a range of different uses with potential.
Freehold or Leasehold?
We prefer Freehold.
Recent openings or new stores in the pipeline?
Our small store concept on Guildford High Street opened in August. This was followed by our Edgbaston store in September.
Chichester is due to open next month, followed by a few more exciting locations (including Bath) in 2018!
Extra info:
We retain the following agents across the UK:
Sue Harrison (SPACE)
Tim Frost (Eric Surveyors)
Ewan Mackay (Ewan Mackay)
Additional Questions:
What are the main challenges you face when acquiring new property?
The search is getting tougher. We need to ensure that agents in our target locations are fully aware of our requirements.
Favourite retail or leisure destination?
My favourite has to be the beautiful city of Bath, whether it's for a spot of shopping, sightseeing or to watch a game of rugby at The Rec! We are looking forward to opening a store in the city next year.
Contact details & Requirement Flyer