TESCO TO OPEN NEW STORE IN NOTTINGHAM

Retail News

Tesco is to open a new store in Nottingham at 19-21 Upper Parliament Street in a deal secured by Alan Pearson, Director of FHP Property Consultants on behalf of SWIP now part of Aberdeen Asset Management.  The store will create up to 20 new jobs and improve convenience shopping for the local community.

Tesco has signed a 20 year lease in the former Café Latino premises at 19-21 Upper Parliament Street, Nottingham. The store has been extended to the rear to provide a ground floor of 2,841ft² and basement ancillary of 1,301ft².

Tesco has other Express stores in the city and a Tesco Metro store within the Intu Victoria Centre, Nottingham.

The letting to Tesco sees the continuing appetite of supermarkets gaining representation within the city centre, with Sainsbury’s currently operating three local stores within the city.

Alan Pearson of FHP Property Consultants commented:

“We are delighted to secure Tesco Express for our clients, SWIP Real Estate, providing an excellent covenant and an ideal fit given the property’s proximity to the city’s principle bus stops and core retail and leisure offering”.

Stephen Lane Senior Investment Manager, Aberdeen Asset Management commented:

“We are very pleased to have secured Tesco on a 20 year lease in Express Buildings after having created more space for them within the building. We now have the whole of the ground floor of the building fully let following the letting of 23 Upper Parliament Street to Mobile Solutions by FHP late last year”.

For further information with respect to this letting or for marketing advice, please contact Alan Pearson of FHP Property Consultants on 07876 396 005 or alan@fhp.co.uk.