BETFRED WINNERS IN TWO HORSE LICHFIELD RACE!

Retail News

Betfred Bookmakers has outbid the competition to secure a key site in Lichfield.  The property at 7-9 Tamworth Street, Lichfield is located close to the Three Spires Shopping Centre in the city centre and was acquired by Betfred as a strategic move to protect their existing business which was a former Tote shop.

The premises are a ground floor only unit within a Grade II Listed building containing 1,734ft² and were acquired on a new 10 year lease with a break option at the end of the fifth year at a commencing rent of £42,500 per annum with rent free incentives.

Mark Bradley, Director of FHP Property Consultants who secured the deal commented:-

“This was a ‘do or die’ site for our clients.  It was imperative to both protect the existing former Tote business and prevent this unit falling into the hands of a competing bookmaker who were also bidding on the property.  The added bonus is that by securing the property for Betfred, it has positioned them in a substantially better pitch than the nearby competition with the unit being located closer to the city centre and also directly opposite a large Wetherspoons pub.

The advantage of working with Betfred is that they make quick decisions and progress acquisitions through a streamlined process which is vital in the current competitive market within the betting industry.”

Betfred are one of FHP’s longest established clients with Mark Bradley having acted for the firm since 1999.  Betfred now trade from around 1,350 branches and FHP will be announcing further new acquisitions during the coming months as the expansion programme continues.

Details of suitable opportunities of between 800 – 1,500ft² throughout the Midlands and East Anglia should be forwarded to markb@fhp.co.uk