FAR EAST ACQUISITION FOR BETFRED

Retail News

Lowestoft is the most easterly town in England and FHP have acquired for retained client Betfred a second unit in the fishing port being a former betting shop which had ceased trading.

The premises at 115 London Road North occupy a prominent corner site at the junction with Gordon Road towards the northern end of the town centre to complement Betfred’s existing unit and they now benefit from coverage on each side of the central shopping core. 

Mark Bradley who acted for Betfred commented: “The unit is smaller than Betfred would normally take, being 850ft², but with the existing A2 planning consent and the fact it was previously occupied by a former local bookmaker meant that shopfitting to rebadge was a relatively low risk cost and as such the deal stacked up at a very competitive rent on the basis of a four year sublease with rights to renew.”

Betfred continue with their nationwide expansion programme in the current economic climate and are seeking both new locations, second shops in certain towns and cities and relocations for several of the smaller shops acquired with the acquisition last year of Tote Bookmakers.

Details of suitable opportunities of a minimum 1,000ft² ground floor sales within the East and West Midlands, East Anglia and the South Midlands should be forwarded to Mark Bradley at markb@fhp.co.uk