Westfield Shoppingtowns have completed the development of 6 prime high street units on Lister Gate, within Nottingham City Centre.

The units incorporate double height shop frontages, and provide excellent trading space in keeping with modern retailer requirements.

Fisher Hargreaves Proctor and Jones Lang La Salle were joint agents on this scheme, and have secured lettings to Thorntons, Holland & Barrett and O2 (all now trading), with two further units under offer to strong retailers.

There is 1 unit remaining, and Steve Young of Fisher Hargreaves Proctor commented “the strength of the tenant line up shows the desirability of Lister Gate as a trading pitch, and the quality of this development.  We have several parties interested in the remaining unit, and are confident of securing a letting in the early part of 2009.  The tenants will be of a similar quality to those delivered thus far, and will serve to further improve this retail trading pitch”.

Further information about the remaining units is available from Fisher Hargreaves Proctor and interested parties should contact Steve Young on 0115 841 1157 / steveyoung@fhp.co.uk.

Acting on behalf of retained clients, Fisher Hargreaves Proctor has secured the sale of a prominent local restaurant in Melton Mowbray.

The premises (formerly occupied by Miguels Taverna) provide some 1,200ft² of accommodation and were sold at a total price (including fixtures and fittings) of £198,000.

It is anticipated that the purchasers will refurbish the premises, and re-open as an Indian Restaurant.

Steve Young of Fisher Hargreaves Proctor commented “Throughout the marketing period we received a high volume of enquiries from local and regional restaurateurs, and several offers were forthcoming.  I am delighted that we have been able to complete this sale in what has become an increasingly difficult time to dispose of leisure property”. 

Cardzone have acquired another new unit at 43 Oxford Street, Ripley as part of their ongoing expansion programme, bringing their branch network to a total of 15 shops.  These include branches in the Nottingham Broadmarsh Centre, Grantham, Sheffield, Mansfield, Southwell, Sherwood and Lincoln, trading under the Cardzone or Paper Kisses fascias.

Fisher Hargreaves Proctor acted for the regional card retailer to negotiate a new 10 year lease with a tenant break option at the fifth year at a rent of £11,000 per annum.  The property contains a ground floor sales area of 405ft² together with ancillary storage/offices on the first floor.

Mark Bradley of FHP, who is retained by Cardzone commented:-

“This is the third unit acquired for Cardzone in as many months and we have a number of other properties currently in solicitors hands upon which we are negotiating.  This latest branch in Ripley will bring a value card and gifts offer to the town which is currently not available.

Cardzone are seeking leasehold units of between 400 – 800 sq ft primarily in the smaller market towns within a 50 mile radius of Nottingham.  Details of suitable units should be forwarded to Mark Bradley at markb@fhp.co.uk

Fisher Hargreaves Proctor has arranged a subletting of 26 Market Street, Loughborough on behalf of First Quench Retailing to local retailer Elf Foods Health store who have relocated from smaller premises directly opposite.

The unit, formerly trading as Bottoms Up, is a ground floor shop of 2,766ft² and has been sublet at a current rent passing of £59,000 per annum on a lease expiring in 2021, subject to an initial rent free period of 3 months.

Mark Bradley of FHP, who acted for First Quench, commented:-

“We were pleased to be able to secure the disposal of our client’s surplus off licence to Elf Foods in order to satisfy their upsize requirement in the immediate vicinity.  The deal was quite complex in that Elf Foods needed to simultaneously dispose of their existing smaller unit which fortunately was achieved within the same timescale.”

Fisher Hargreaves Proctor is retained by First Quench to dispose of their surplus off licence premises trading as Threshers and Local throughout the East Midlands and East Anglia regions.  For a list of the properties, please visit our website www.fhp.co.uk

Given the current economic climate, retailers are looking to tighten their budgets at every opportunity. Fisher Hargreaves Proctor are therefore pleased to be marketing one of the most affordable shops to let in Derby City Centre.

As preferred Cathedral Quarter Agents, Fisher Hargreaves Proctor have received instructions to market premises at 50 Queen Street, Derby, comprising ground floor refurbished retail sales space of 256ft².

The shop, situated within the heart of the Cathedral Quarter, is within an area experiencing exciting changes. With the new Jury’s Inn Hotel well on its way, as well as the extension to the Joseph Wright College and Cedar House’s City Gate House office development, there is a lot to offer for any potential tenant.

The premises are situated directly opposite Red Zebra drinks, an exciting new addition to the street having recently chosen to relocate their business to the Cathedral Quarter. Other nearby occupiers include Bang & Olufsen, Tregoning Gallery and Reptonia Bridalwear.

Hannah Chapman of Fisher Hargreaves Proctor comments:

“50 Queen Street is one of the most affordable options available in Derby at just £6,000 per annum. Not only is the annual rent so low but, having been recently refurbished to provide a clean and presentable unit, little expenditure will be necessary for any ingoing tenant other than their basic shop fit.

The premises comprise the perfect solution for either a start up business looking to locate themselves within the Cathedral Quarter, or potentially an existing business looking to expand or relocate. The Cathedral Quarter has attracted some interesting, innovative and exciting new tenants in recent months including The Red Zebra, Kyte, Little Terra and Madoka. The premises at 50 Queen Street would be ideal for a similarly new and exciting operator.”

To discuss this opportunity in further detail, please do contact Hannah Chapman of Fisher Hargreaves Proctor on 01332 343222.

Given the current economic climate it is not surprising that Fisher Hargreaves Proctor’s latest Retail Study shows an increase in available shops in Derby City Centre.  Derby is one city however, that is fighting hard against the difficult economic conditions and appears to be making head way.
The FHP study undertaken in Autumn 2008 identified an overall ‘availability rate’ for Derby City Centre of 10.48 % which is an increase from the beginning of the year.  The study also showed that the city’s shopping centres had a lower availability rate than the high street which is due largely to the ‘incentive packages’ that the shopping centres are able to offer to entice new tenants.  Derby’s high street is however fighting back, with two key high street lettings having been agreed with two of the country’s most successful retailers of the moment, Tesco and Primark.  The Cathedral Quarter area of the city is also performing well with a number of new lettings having been agreed in recent months.
 

Please click below to see a full copy of the Fisher Hargreaves Proctor Retail Study Report.

Acting on behalf of Barclays Life Assurance Company, FHP have secured yet another exciting new tenant on Bridlesmith Gate in Nottingham.

Comptoir des Cotonniers, a French fashion retailer, have taken a new 15 year lease at a rent of £127,500 per annum in respect of 52 Bridlesmith Gate.

Ben Tebbutt, partner at Fisher Hargreaves Proctor commented “52 Bridlesmith Gate was formerly let to Oxfam who were paying a rent of £88,000 per annum and had approximately 6 years remaining on their lease.  In order to increase the landlord’s capital value a surrender of Oxfam’s lease was agreed in return for a surrender premium of £87,500.  This allowed the property to be re-let to Comptoir des Cotonniers at a higher rent increasing the landlord’s capital value by over £500,000.”

Comptoir des Cotonniers was set up in 1995 with the opening of their first store in Paris.  By 2007, the chain was operating from 278 stores, 219 in France and further stores in Spain, Belgium, Luxemburg, Germany, Japan and Korea.  There are now over a dozen stores in the UK including London, Bath, Cambridge, Cheltenham, Leeds and now of course Nottingham.

Kitchen La Frenais Morgan acted on behalf of Comptoir des Cotonniers and Picton Jones acted on behalf of Oxfam.

FHP have a selection of properties available to let over the Christmas Trading Period 2008.

Please click on the link below to view our 2008 Temporary Lets Schedule.

Acting on behalf of Brian Selby, Fisher Hargreaves Proctor have let 19 Market Street, Nottingham to Oxfam.

The property was formerly half of the “Select-a-disc” unit, a business run successfully by Brian Selby for more than 20 years before his retirement.  Brian sold Select-a-disc to one of the existing staff members and they retained occupation of 21 Market Street.  This meant 19 Market Street became vacant and FHP were duly appointed as letting agents.

Ben Tebbutt, Partner at Fisher Hargreaves Proctor commented:-

“Market Street is a popular location with retailers and this was evidenced by strong interest in the subject premises.  Competitive bidding led to a rent of £37,500 being achieved with Oxfam.

Oxfam will relocate from their existing store on Bridlesmith Gate and will provide a solid investment for the client.”

The unit comprises a ground floor sales area of 692ft² together with further good quality office space on the first, second and third floors.  Oxfam have taken a 10 year lease on the property with the landlords granting a rent free period of 3 months.

Picton Jones acted on behalf of Oxfam.

Following Trent Upholsteries’ decision to move from their existing store on St Peters Street to the adjacent building, Steve Young of Fisher Hargreaves Proctor has agreed a letting to Turentek Architectural Ironmongery, for their former premises.

The letting to Turentek at £37,500 per annum for circa 6,990ft² of total accommodation also contains an option to purchase within the first 12 months of the term, at an agreed price.

Steve Young of FHP commented:

“Trent Upholsteries have been established for over 50 years, and traded extremely well from this location for 8 years.  The recent decision to move to their newly refurbished adjacent premises, has enabled us to source a high quality tenant to the front section of the premises.” 

Turentek who have been trading from Canal Street in Nottingham City Centre, were keen to secure a relocation following the proposed development of Phase 2 of the South Reef Project which will incorporate their existing unit. Following their decision to relocate it was felt that St Peters Street offered a perfect solution, due to its proximity to the City Centre, the provision of parking and the infrastructure of the area.

Roger Paulson of Trent commented "We are delighted to be staying on the same site known to so many of our customers, whilst occupying a new showroom allowing visitors to view the workshop and see our craftsman at work".

Acting on behalf of Cardzone Ltd, Fisher Hargreaves Proctor has negotiated the leases on two new units in Lincoln and Kimberley.

A new 10 year full repairing and insuring lease was agreed in respect of Unit 20 The Forum, North Hykeham, Lincoln at a rental of £16,500 per annum subject to 4.5 months initial rent free.  The unit occupies a central position in The Forum Shopping Centre which is located on the A46 to the south of Lincoln city centre and the premises contain a ground floor sales area of 837ft² together with first floor stores of 789ft².

The Kimberley unit is within the shopping centre on Green Lane and is a ground floor lockup shop unit containing 613ft² which has been acquired on a new 10 year effectively full repairing and insuring lease at a rental of £11,500 per annum with 5 months rent free.

Mark Bradley of FHP who advised Cardzone commented:-

“We were delighted to assist our clients in their current expansion programme by securing the new units at Lincoln and Kimberley.  The opportunity in Lincoln was particularly pleasing since few units come to the market in this popular location and a deal was progressed quickly to ensure the lease was completed in a very short timescale.”

Paul Taylor, Managing Director of Cardzone added:-

“These latest two additional outlets bring the total number of branches in the company to 13 including units in the Broadmarsh Centre, Nottingham and Market Square, Sheffield.  FHP are continuing to actively search on our behalf for further branches on both permanent leases and also for temporary Christmas outlets, within a 50 mile radius of Nottingham.”

Acting on behalf of Rett Retail Ltd, FHP have acquired 52-54 The Headrow, Leeds.

The unit is part of “The Light” development which is home to a 13 screen cinema, Radisson Hotel, Esparta Health Club together with an eclectic mix of retailers including Joy Clothing, The Body Shop, Lacoste, Henri Lloyd, Bennetton, Bank, Mikey and O’Neills.  Food offers within the scheme include Nandos, Starbucks, Browns and Bagel Nash.

Ben Tebbutt, Partner at Fisher Hargreaves Proctor commented:-

“I have acted for Rett Retail for a number of years who trade as either Ark or Superdry.  The unit that we have secured in The Light totals approximately 6,000ft² with the plan being to split it into two shop units, one trading as Ark and one as Superdry. 

Rett Retail secured the unit on the basis of a new 10 year lease at a rent of £105,000 per annum and 9 months rent free has been granted with Rett Retail having the benefit of a break clause after the expiration of the fifth year.”

Mr Tebbutt added “Superdry is one of the coolest brands at the present time made famous by the likes of both David and Victoria Beckham.  An acquisition in Leeds follows on from the opening of a unit within The Arndale Centre in Manchester where trade has been exceptional.”

Rett Retail are still keen for further acquisitions and a number of locations are under consideration.  Further information can be obtained from Ben Tebbutt.  Telephone 0115 8411142.  Email ben@fhp.co.uk

Fisher Hargreaves Proctor have been instructed to become letting agents in respect of the Idlewells Shopping Centre, Sutton in Ashfield.

The Idlewells Centre comprises 126,000ft² of retail space providing a total of 44 shops.

The scheme is anchored by New Look, Woolworths and Argos and is home to a number of national retailers including Superdrug, Boots, Peacocks, Bon Marche, Body Care, Partners, to name but a few.

Ben Tebbutt, Partner at Fisher Hargreaves Proctor commented:-

“We were especially pleased to be instructed on this scheme which is owned by The Royal Mail Pension Trustees Ltd.  FHP had to pitch against a number of other regional agents.”

Mr Tebbutt added “We are keen to grow our Shopping Centre department and add to our current instructions, The Broadmarsh Centre (Nottingham), The Priory Shopping Centre (Worksop) and now the Idlewells Centre (Sutton in Ashfield).”

Steve Young, surveyor within the Retail & Leisure Department added “There are several opportunities available within the Centre with units ranging from 420ft² to 4,000ft², and we are looking forward to adding to the strong tenant line up with further independent and multiple retailers.”

Further information on opportunities can be obtained by contacting:-

Steve Young

Direct Dial: 0115 8411157

Email steveyoung@fhp.co.uk

Acting on behalf of Active Retail Fund c/o Centenary Asset Management, FHP and their joint agents, DTZ have completed a letting to Vision Express at The Priory Centre in Worksop.

Vision Express have taken Unit 18 which comprises 2,280ft² of total accommodation on a new ten year lease at a commencing rent of £46,000 per annum.

FHP, who advised on the original acquisition and extension of the Priory Centre have previously secured lettings to Marks and Spencer Simply Food, New Look, Costa Coffee and The Body Shop within the new scheme.

Steve Young of Fisher Hargreaves Proctor commented that:

“The Priory Centre is a prime retail development within the heart of Worksop Town Centre and this latest letting to another well known multiple retailer demonstrates the strength of the scheme.”

Acting on behalf of MacQueens Ladieswear, Fisher Hargreaves Proctor have acquired Unit 32 St Martins Shopping Centre, Leicester.

Ben Tebbutt, Partner at FHP commented:-

“MacQueens are a successful ladies fashion operator who currently have shops in Sadler Gate, Derby and Bridlesmith Walk, Nottingham.  Leicester was the next logical step on their expansion drive and as such terms were agreed in respect of St Martins Shopping Centre.  St Martins is located within the heart of the city centre and is conveniently located close to the new Highcross Quarter development.”

MacQueens have taken a new 10 year lease with a 5 year break in respect of Unit 32 paying a rent of £30,000 per annum.  They were granted a rent free period 9 months.  The unit provides a sales area of 800ft².

Nathan Ritchie, Managing Director of MacQueens commented:-

“We are delighted that we have secured retail premises in Leicester which will allow us to follow our successful concept in both Nottingham and Derby.”

MacQueens are keen for further acquisitions with units in both Leeds and Sheffield under consideration.

Martin Herbert of Lambert Smith Hampton acted on behalf of the landlords.

Acting on behalf of a private client, Ben Tebbutt of Fisher Hargreaves Proctor has let 17 Bridlesmith Gate, Nottingham to Jack Wills Ltd who describe themselves as an upmarket British “preppy” clothing brand targeted at 18-25 year olds.

Ben Tebbutt, Partner at Fisher Hargreaves Proctor commented:-

“Jack Wills have secured 17 Bridlesmith Gate on a new 15 year lease at a rent of £220,000 per annum which reflects a Zone A rent of £226.  The landlord granted a rent free period of 6 months.”

Mr Tebbutt added “17 Bridlesmith Gate is part of the Bridlesmith Walk redevelopment and provides a flagship retail unit with a ground floor sales area of 2,000ft² and first floor sales of 3,000ft².”

Jack Wills currently have an existing store on Queen Street in Nottingham and will relocate to Bridlesmith Gate once they have undertaken their fit out.  They have a total of 27 stores throughout the country with a number in London as well as outlets including Edinburgh, Oxford, Cambridge, York, Bristol, Brighton, Harrogate, Durham, Exeter and Cheltenham.  They also have seasonal stores based in Salcombe, Aldeburgh, Cowes and Whitstable.

Peter Williams, MD of Jack Wills commented:-

“Nottingham has been a tremendously strong store for Jack Wills, primarily because of the high number of students.  Bridlesmith Gate will provide us with a flagship store where we will be investing over £500,000 to provide what will be both a modern and contemporary shop fit.”

Dan Peake of Savills (London) acted on behalf of Jack Wills.

More information on Jack Wills can be obtained from their website www.jackwills.com

Acting on behalf of private pension fund clients, Fisher Hargreaves Proctor have successfully let 19 Bridge Street, Newark to Minster Computer Services.  The property was previously occupied by F1 Services Limited.  The property has been let on a 5 year lease at a rental of £16,500 per annum.  The property which is located close to Market Place went on the market in early March with the letting completed in early June which was an excellent turnaround.  The new retail business is to compliment Minster Computer Services Limited operation in Southwell and represents a further expansion of their business.

Steve Young of Fisher Hargreaves Proctor has let the former Post Office at 11 Commercial Road, Bulwell to Coffee and Cream.

The tenant has taken a 15 year lease at a commencing rent of £15,500 per annum, and will trade as a coffee shop and café.

The premises provide circa 796ft² of ground floor accommodation, together with first floor stores of 479ft².

Steve Young of FHP commented:

“It has been particularly challenging to source a tenant for the former post office unit on Commercial Road, as there is a general shortage of tenant demand for secondary locations within the town. As such, I am delighted to have secured a tenant who already has an existing outlet, and a proven track record. They are anticipating that they will be open within 8 weeks, and I wish them every success.”

Acting on behalf of Lace Market City Living, FHP have sold the former petrol filling station located on the A52 Derby Road, Bramcote.

Ben Tebbutt, Partner at Fisher Hargreaves Proctor commented:-

“The property comprises a former petrol filling station on a site of 0.27 acres and has been sold for a sum of £270,000 to Beart & Gibson who will continue to utilise the property as a car wash.”

Mark Elliott of Lace Market added:-

“Lace Market acquired the site and put the tenant in place.  Difficulties concerning the trunk road designation of the A52 caused problems in obtaining a planning consent for development.  This meant the site was not core to our business and hence the investment created was sold.”

Fisher Hargreaves Proctor have been instructed on behalf of Churnet Works Limited to sell a 23 acre development site in Leek, Staffordshire.

David Hargreaves, who is handling the instruction, confirmed that there is strong interest in the site from the likes of Sainsburys, Tesco and ASDA, who are all without representation in this Staffordshire market town.

He commented:  “Conditional offers, subject to planning, are being sought for the site which is ideal for a mixed use scheme, encompassing retail, leisure, residential, office and business uses.  We expect to achieve on a subject to planning basis a price in the region of £7 million.”

For further details contact David Hargreaves (davidh@fhp.co.uk).

As retained agents for the prestigious Buttermarket Shopping Centre in Newark, Fisher Hargreaves Proctor have successfully secured Gente Bella as the latest tenant to the centre.

Gente Bella will provide upmarket ladieswear stocking labels such as Joules and Weirdfish as well as jewellery and accessories.

Hannah Chapman at Fisher Hargreaves Proctor comments:

“Having recently been brought on as retained agents for the centre we were delighted to have secured our first letting.  Of the two units remaining available in the Centre we have a number of interested parties and are hopeful of achieving full occupancy within the centre in the coming months.”

Martin Rendle, Centre Manager comments:

“Gente Bella will undoubtedly be a welcome addition to the centre by complimenting our existing retailers and improving the tenant mix.”

For further information in respect of opportunities at the Buttermarket Shopping Centre, please contact Hannah Chapman on 0115 841 1163

FHP have successfully disposed of yet another Thresher off licence on behalf of clients First Quench Retailing Ltd.

The premises at 15 Main Street, Evington, Leicester, comprise a ground floor retail unit of 799ft². The premises were let by way of an assignment of an existing lease at a rent of £8,775 per annum. The lease was assigned to a local butcher and a positive premium of £15,000 was paid.

Hannah Chapman of FHP commented:-

“We received a very high level of interest in the unit due to its prominent position within the village. After a relatively short marketing period we managed to secure a £15,000 positive premium on the shop which is a fantastic result for our clients.”

For more information on any of the Thresher disposals in the Midlands/East Anglia region, please contact either Hannah Chapman or Mark Bradley at FHP.

Another successful disposal of a former Thresher store has recently been completed by retained agents Fisher Hargreaves Proctor.

The shop is situated at 359 Welford Road, a popular arterial route into the City Centre. The ground floor retail unit comprises 934ft² and was held subject to a lease at a passing rent of £12,250 per annum, expiring March 2012.

The lease was assigned to a local operator for continued use as an off licence.

Hannah Chapman of Fisher Hargreaves Proctor commented:-

“Since being retained by Thresher to dispose of their surplus stores in the Midlands and East Anglia region, we have received an encouraging level of interest in most stores despite the current economic conditions. We were pleased to have secured another successful completion on behalf of our clients, further decreasing their number of surplus stores.”

For further information on any of the Thresher disposals in the Midlands / East Anglia region, please contact Hannah Chapman or Mark Bradley of Fisher Hargreaves Proctor.

Fisher Hargreaves Proctor and CBRE acting on behalf of Bildurn (Properties) Limited have let a further unit within The Pod in Nottingham to rapidly expanding furniture retailer, Dwell.

David Hargreaves, who put the deal together, confirmed that Dwell had taken a unit of 10,548 sq ft at the corner of Fletcher Gate and Bottle Lane.  

Hargreaves said:  “The Pod has appealed to a variety of furniture retailers by virtue of its design which certainly adds value to their product.”

This is the second letting secured by FHP and CBRE in The Pod in the past month, with just 1 retail unit of 15,000 sq ft now remaining. 

Ben Tebbutt of FHP said: “The last unit is a quirky unit which is visible from Bridlesmith Gate, but “off pitch”.  However, for a fashion retailer looking for a large retail unit close to Bridlesmith Gate, this property of 15,000 sq ft on one level is fantastic value for money at £225,000 per annum.”

Once Tesco and Dwell open, the pedestrian flow on Bottle Lane will increase considerably, with other tenants close by including Ark, Two Seasons and the soon to open Coffee Republic.

Sean Gillies of  CBRE said:  “The last remaining unit within The Pod is the only 15,000 sq ft single storey retail store available for immediate occupation in Nottingham.  The size of the unit will allow a retailer to carry a full range of stock and this, together with the proximity of the prime Bridlesmith Gate should allow a fashion retailer to trade profitably in this location.”

For further details on The Pod contact David Hargreaves of Fisher Hargreaves Proctor (Tel: 07876 396003 or email davidh@fhp.co.uk) or Sean Gillies of CBRE (Tel:  07967 697919 or email sean.gillies@cbre.com)

Fisher Hargreaves Proctor and heb have been instructed by Elor Holdings Limited to market a new restaurant unit at Enfield Chambers, off Low Pavement in Nottingham.

David Hargreaves confirmed that the property will provide 3,680 sq ft of accommodation together with a courtyard for external seating.

Steve Young of FHP added: “This is a prime location opposite Marks & Spencer and adjacent to Slug & Lettuce, Caffé Uno and Paul Smith.”

The restaurant will benefit from excellent day time trade, but also be part of the night time circuit.

Jonathan Emmerson of heb confirmed that the quoting rent is £75,000 per annum and that the unit will be available for occupation from the end of May.

For further information, please contact either David Hargreaves at Fisher Hargreaves Proctor on 0115 950 7577, or Jonathan Emmerson of heb on 0115 950 6611.

FHP are delighted to announce on behalf of a private client the availability of 1198 London Road, Alvaston.

This two storey retail unit comprises of 28.4m² (306ft²) of ground floor sale space with additional residential accommodation on the first and second floors.  The premises benefit from being partially renovated and an electric roller shutter door on a fully glazed frontage to the ground floor sales area.

Tom Houghton of Fisher Hargreaves Proctor commented “this property presents a unique opportunity for an owner occupier looking to set up their business, investor looking to secure an income or potential developer looking for a renovation project”. 

For further details on this opportunity please contact Tom Houghton at Fisher Hargreaves Proctor on 01332 224852 or Hannah Chapman 0115 9507577.

Fisher Hargreaves Proctor and CBRE have completed the letting of the first unit at The Pod, the iconic building developed by Bildurn (Properties) Limited in the Lace Market in Nottingham.

A unit of 6,000 sq ft has been let to Tesco for a Tesco Express.

David Hargreaves of FHP commented:  “This is a very important letting for the Lace Market as undoubtedly Tesco will generate a considerable amount of pedestrian flow in this part of the city.  It is expected that Tesco will serve 6,000 – 7,000 people per week.   The pedestrian flow generated will provide opportunities for other businesses to trade off the back of Tesco.”

The letting is on a 15 year lease at a rent of £110,000 per annum.

Ben Tebbutt of FHP commented: “This acquisition by Tesco provides them with complete coverage of the city centre, with their new store on Long Row and their Metro store in the Victoria Centre.”

FHP and CBRE represented the landlords, Bildurn (Properties) Limited with Tesco representing themselves. 

For further details contact David Hargreaves (davidh@fhp.co.uk).

FHP report positive results amongst challenging times for retailers.

The market is changing, but brighter times may lie ahead if retailers can adapt!

Please click on link below to see full retail study.

Acting on behalf of Betster Bookmakers, Fisher Hargreaves Proctor has acquired premises at 231 High Street, West Bromwich on a new 15 year lease at a rental of £50,000 per annum subject to upwards only five yearly reviews, together with an initial rent free period of 3 months.

The premises occupy a prime location in the town centre close to the entrance to the Sandwell Shopping Centre and contain a ground floor sales area of 1,508ft².

Mark Bradley of FHP who handled the negotiations on behalf of his retained client Betster commented:-

“This is the second new betting shop acquired on behalf of our client Betster who have now secured 4 units throughout the country with a further 10 properties in solicitors hands.  The unit in West Bromwich occupies a prime location in the pedestrianised section of High Street immediately adjacent to New Look and Poundland and was identified as a suitable location where the refreshing and flexible planning policy of Sandwell Borough Council does not unnecessarily restrict change of use from retail to Class A2 use.”.

Betting Shop Holdings Ltd t/a Betster is a newly formed company with substantial financial backing from Intuition Capital and aims to open 50 high quality betting shops over the next 3 years in major towns and city centres.

Fisher Hargreaves Proctor has acquired leasehold premises at 25-27 Market Square, Basildon on behalf of Betster Bookmakers on a new 15 year full repairing and insuring lease at a rental of £35,500 per annum, subject to upwards only review at the end of each fifth year.  An initial rent free period of 3 months was secured.

The double fronted premises contain approximately 900ft² ground floor sales area and occupy an excellent position fronting onto the town’s Market Square.

Mark Bradley of FHP who acted for his retained client Betster, commented:-

“I was pleased to acquire the first betting shop for this new client in an off market transaction following a direct approach to the owners of the shopping centre.  The unit occupies an ideal location for a bookmaker directly fronting the market area and close to several public houses.”

Betting Shop Holdings Ltd t/a Betster is a newly formed company with substantial financial backing from Intuition Capital and aims to open 50 high quality betting shops over the next 3 years in major towns and city centres.

Details of suitable units within the Midlands, East Anglia and Yorkshire areas of between 1,000-1,500ft² ground floor sales should be forwarded to Mark Bradley.