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Retail & Leisure News
FHP Property Consultants has successfully completed a letting to Waterstones, acting on behalf of the landlord. The national bookseller has opened in a prime retail unit in the town centre of Newark-on-Trent, underlining the location’s appeal to major occupiers.
Waterstones continues to expand its footprint across the UK. The retailer has reported sales growth of around 17% for the year ending April 2024. It has also secured a new £125 million financing facility to support its expansion plans targeting new store openings in varied formats and locations, driven in part by renewed interest in physical retail from younger adults and “BookTok” trends.
The letting to Waterstones arrives at a time of broader regeneration in Newark town centre. One of the key projects is the revamp of the former Marks & Spencer building at 32 Stodman Street, where construction is underway to deliver 29 private-rented homes along with new retail units. This mixed-use development is part of the town’s strategy to boost footfall, increase town-centre living, and enhance the retail offer.
Commenting on the deal, Jack Shakespeare, Property Agent at FHP Property Consultants, said:-
“We’re pleased to secure Waterstones for this unit. Their move highlights the strength of Newark-on-Trent as a retail destination. With town-centre regeneration under way and national occupiers still actively seeking space, this deal reflects confidence in the market.”
The transaction contributes to FHP’s leasing activity across the East Midlands, where demand from well-established occupiers remains strong for well-positioned, high-quality town-centre units.
For further information please contact Jack Shakespeare on 07817 924 949 or email jack@fhp.co.uk.