'Win-win' scenario will lead to additional space let throughout 2008.
B&Q continues to release available space across its estate after it announced three deals as part of its rightsizing programme.
B&Q began to release the available space, and with it more than £11 million worth of annual rental commitment, in January 2006 through store closures and also through rightsizing existing Warehouse stores.
The retailer has concluded a rightsizing deal at Damolly Retail Park, Newry following negotiations with the landlord, Corbo Ltd, to surrender c.20,000 sq ft of the original store and the builder's yard.
B&Q is now trading in a refitted, rightsized Mini Warehouse store of c.52,000 sq ft plus a garden centre on a 20-year lease.
The surplus space has been let to kitchen retailer MFI, and bedroom retailer Dreams.
B&Q has also exchanged conditional contracts to let 14,369 sq ft to PC World's parent DSGi at its store at Pasteur Retail Park in Great Yarmouth.
B&Q will retain and refit 52,000 sq ft plus the existing garden centre as a new Mini Warehouse outlet.
Conditional contracts have also been exchanged with Dunelm to let 25,000 sq ft on a 15-year lease at the B&Q store at Raustina Retail Park, Londonderry to create a B&Q Mini Warehouse of 75,000 sq ft.
Working with property consultants, Foinavon, B&Q has already disposed of two vacated stores and rightsized a further three B&Q Warehouses to create B&Q Mini Warehouses with a further two now under offer equating to the disposal of more than 350,000 sq ft of surplus space.
This rightsizing programme will continue with a further 12 stores available for rightsizing, each of which provides surplus space of approximately 30-35,000 sq ft.
Iain Small, a director B&Q, said the 'win-win' situation for both parties will lead to additional progress in 2008, with 50,000 square feet currently under negotiation and further announcements expected shortly.
B&Q has now disposed of space in Glasgow/Braehead, Sprucefield, Tunbridge Wells, Bournemouth, Newry, Londonderry and Great Yarmouth.