FHP Boosts Retail Renaissance of Pelham Street

Retail News

Pelham Street is well on the way to becoming the next fashion retail hotspot in Nottingham, thanks to a recent letting secured by joint agents Fisher Hargreaves Proctor (FHP) and Douglas Stevens & Co to Sweaty Betty.

The letting to this specialist retailer of ladies’ active wear is the latest in a long line of niche fashion brands that have chosen to set up shop at this location.

Alan Pearson, associate partner at Midlands Property Advisor of the Year, FHP, said: “Pelham Street has been undergoing a renaissance in recent years improving Nottingham’s fashion pitch to include such names as All Saints, Bravissimo, Moss, Cache and Projects Menswear & Ladieswear. Sweaty Betty chose to add Pelham Street to their portfolio of 22 stores after the site was acquired and refurbished by our client last year.”

22 Pelham Street was let to Sweaty Betty with a 15 year lease subject to a 10 year break and five-yearly rent reviews starting at £40,000 per annum. The premises comprise a ground floor sales area of 573 square feet and upper floor storage accommodation of 719 square feet.

Alan continued: “These high profile lettings on Pelham Street have significantly improved rental values for investors in this area of Nottingham but rents remain competitive for the city centre and are acting as a key attraction.”