FHP Property Consultants are delighted to bring to the market 14-16 St Peter’s Street, Derby.  The property was formerly occupied by Poundbakery and is located in a high footfall location, benefitting from adjacency to the Derbion Shopping Centre, The Vaillant Live Arena and the refurbished Market Hall.

Tom Wragg of FHP Property Consultants comments:-

“We are seeing strong demand for good quality high street locations such as this from the national F&B sector, as the high street continues its pivot from retail towards good quality fast food. This progression is demonstrated by recent lettings to the likes of Kokoro and Good Thai adding to existing operators in the location such as Loungers, Chopstix, Chicking, McDonalds, Subway and more.”

For more information please contact Tom Wragg on tom@fhp.co.uk / 07970 168 138 or Corbin Archer on corbin.archer@fhp.co.uk / 07929 716 330.

• Ground floor retail unit
• High footfall Derby City Centre location
• Near the Derbion Shopping Centre
• Ideal for F&B or retail
• Nearby occupiers include Lloyds Bank, Kokoro, McDonalds, Chopstix, Subway, Loungers and Forbidden Planet
• Rent – £27,500 per annum exclusive
• E Class premises
• Three phase electric supply

It came as a surprise to many when, on 10^th July as part of the English Devolution and Community Empowerment Bill, the government announced plans to ban upwards only rent reviews in commercial leases with no apparent consultation within the industry.

Retail and leisure groups have long lobbied for this to protect businesses from being stuck paying above market rents for long periods which was particularly relevant when 25 year unbroken leases were common. Previous versions of the RICS Code for Leasing Business Premises encouraged upward/downward rent reviews but it never took hold.

It’s easy to see how this will be popular in many quarters and commercial landlords will likely garner little sympathy from the public. In theory this solution will prevent hard pressed businesses from closing due to unsustainable rents.

But as is often the case, transferring theory to the real world can be a messy business with unintended consequences. It can convincingly be argued that the interests of landlords actually align with the interest of the public to some degree as the unpredictability that ensues rent fluctuations will disincentivise investment in commercial property, negatively impact valuations and the ability to borrow against real estate. This would lead to development projects becoming less financially viable which would mean, unsurprisingly, less development and re-development.

It also remains to be seen how the occupational market will react in practice. Many commercial leases are 5 years or less now so do not generally contain a rent review however there are sectors where operators making significant investment into fit out require longer lease lengths, for example.

In a market favouring tenants you might expect upward / downward rent review clauses being drafted in but when market forces shift towards landlords it’s hard to see it simply being accepted and I would expect to see the industry working around it with higher initial rents or fixed rent steps although the proposal seems to have given much thought to limiting work arounds.

It’s also worth noting that the traditional 5 year rent review pattern is now quite a significant length of time when compared to modern retail market cycles. A struggling business may not be able to wait that long for the rent correction so, again, the theory may not result in the desired outcome in practice.

While the future may always hold a degree of uncertainty, FHP pride ourselves in giving our clients the best advice to deal with those challenges. For more information on how FHP’s Lease Advisory team can advise you on rent reviews, lease renewals and regears, please contact Tom Wragg (tom@fhp.co.uk / 07970 168 138).

• Ground floor retail unit in Cathedral Quarter, close to Derby Market Hall and Vaillant Live Arena
• White boxed ready for fit out
• E class premises, suitable for retail, bar, café or restaurant
• Nearby operators include 80s Casual Classics, Vision Express, Bunk, Canopy, Anchor & Crew, Milk & Honey Deli, London Camera Exchange, Warhammer and more
• Rent – £12,000 per annum

• Prime pedestrianised high street location in Derby city centre
• 4 x Retail units
• Income of £103,000
• 8,405 sq ft of retail & leisure accommodation

• 5,647ft² of retail and leisure accommodation
• Passing rent of £48,000 per annum
• Ground floor retail unit let to Vision Express (UK) Limited
• Part ground, first, second and third floor let to established licenced leisure operator
• High quality retail and leisure destination within Derby City Centre near newly opened Market Hall and Vaillant Live Arena
• Nearby occupiers include Bunk, Betfred, London Camera Exchange, Milk & Honey Deli, Mr Shaw’s House, KH Hairdressing and The Kitchen

• Grade II listed building in high footfall City Centre location
• 22,062ft² of retail, leisure and office accommodation
• Passing rent of £208,450 per annum
• Anchored by Cosy Club, paying £70,000 per annum for a term expiring 20th October 2031
• Upper floor office accommodation, part occupied with potential for redevelopment subject to planning permission
• Major East Midlands city with resident population of circa. 250,000
• Nearby occupiers include Turtle Bay, Revolución de Cuba, Molly Malone Irish Bar, Coffee No.1, Caffe Nero, Loungers, Cubo Offices, Condor Apartments (c. 300 private apartments) and Vaillant Live Performance Venue (3,500 capacity entertainment arena)

• High footfall Derby City Centre location
• Adjacent to entrances to Derbion Shopping Centre
• Prominent retail unit on busy pedestrianised street ideal for retail/restaurant/fast food (STP)
• Ground floor 2,897ft² / Basement 2,777ft²
• Potential to include first floor of 4,673ft² creating unit of 10,347ft²
• Nearby occupiers include Lloyds Bank, Kokoro, McDonalds, Chopstix, Subway, Loungers
• Available from October 2025
• Rent – £80,000 per annum exclusive

• High footfall Derby City Centre location
• Adjacent to entrances to Derbion Shopping Centre
• Former Costa Coffee ideal for coffee shop / fast food use (STP)
• Corner unit with fully glazed return frontage
• Nearby occupiers include Lloyds Bank, Kokoro, McDonalds, Chopstix, Subway, Loungers
• Rent – £60,000 per annum exclusive

• Available with vacant possession due to relocation
• Prominent location near Ashbourne Town Centre
• Pre-planning application approved for 4 apartments (Ref No. 25/00005/PREAPP)
• Offers in excess of £500,000

• Available with vacant possession due to relocation
• Prominent location near Ashbourne Town Centre
• Pre-planning application approved for 4 apartments (Ref No. 25/00005/PREAPP)
• Offers in excess of £450,000

Acting for Askew Properties Limited, FHP are pleased to announce a letting of 249 Horninglow Road, Burton to Flooring Superstore.

Tom Wragg, Associate Director comments:

“It’s great to get this deal over the line to a high quality tenant who will no doubt be a great addition to Burton on Trent.  It was a pleasure working for Askew Properties and dealing with Ian Thurlbeck of AT Retail acting for the tenant and my joint agents, HEB Chartered Surveyors.”

David Egan of Askew Properties Limited, added the following:

“Askew Properties are very pleased to secure an important letting to an excellent operator in Flooring Superstore.  This deal would not have been achieved without the hard work of FHP and Tom Wragg in particular.”

Ian Thurlbeck, who acted for Flooring Superstore added:

“The store in Burton as a great example of the sites my client is acquiring nationwide.  Its prominence, parking and accessibility are ideal.  We thank the landlord and their advisors for their cooperation in finalising the terms.”

For more information on how FHP Property Consultants can assist in leasing or selling your retail and leisure premises, please contact Tom Wragg on 07970 168 138 / tom@fhp.co.uk.

FHP are pleased to announce appointment as sole agents for Waters View, Carsington. The scheme comprises a stunning modern building set in 17.5 acres overlooking Carsington Water on the edge of Derbyshire’s Peak District near the town of Ashbourne. Anchored by renowned jeweller, CW Sellors, the offer will include luxury retail, hospitality as well as events and workshop facilities.

Available space includes a mixture of retail concessions, a rooftop terrace and 2,583 sq ft of restaurant space ready for fit out.

Rebecca Sellors of CW Sellors comments; “We are thrilled to be working with FHP, who are helping us engage with all interested parties to maximise the commercial potential and exciting opportunities the multi-purpose facility and stunning location Waters View provides.” 

Tom Wragg, Associate Director, adds; “I am very excited to work with CW Sellors on this instruction. We are seeing good initial interest from high quality F&B operators and expect the venue will be well positioned to capitalise on the tourist trade, outdoor pursuits market and affluent catchment in the surrounding area”.

For more information on this opportunity please contact Tom Wragg (tom@fhp.co.uk / 07970 168 138) or Harry Gamble (harry.gamble@fhp.co.uk / 07398 443 828).

• Retail, café and restaurant space to let from concessions to individual units of up to 199m² (2,142ft²)
• Brand new high quality, energy efficient retail & leisure destination anchored by CW Sellors Jewellers
• E class premises
• Picturesque tourist location overlooking Carsington Water attracting over 1m visitors annually
• 300 free customer parking spaces on site
• Rent: a combination of base and turnover

• Prime location in Uttoxeter Town Centre, would suit retail or leisure use
• Loading and staff car park for 23 vehicles
• Nearby occupiers include Waitrose, Wetherspoons, Starbucks, Tesco and many more
• Rent – £50,000 per annum

• Ground floor restaurant unit, fully fitted to a high standard
• E Class premises, would suit café/restaurant or bar
• Staff unaware, viewing by appointment only
• Nearby occupiers include Coffee No. 1, Loungers, Cosy Club, Caffe Nero, Phoenix Salon Suites, Turtle Bay and many more high quality operators
• Rent – £25,000 per annum
• Premium sought for fixtures and fittings
• Premises alcohol licence from 11am to 11pm daily

• Ground floor retail unit in the heart of Derby’s Cathedral Quarter
• Unit to be delivered in a white boxed specification, available April 2025 or can be taken as seen
• Nearby operators include 80s Casual Classics, Vision Express, Bunk, Canopy, Anchor & Crew, Milk & Honey Deli, London Camera Exchange, Warhammer and a whole host of vibrant independent retailers, restaurants and cafes
• Available from September 2025
• Rent – £18,000 per annum

In a year where Derby was much maligned in the national press, and even by some within the city, the benefit of hindsight offers a very different narrative. At FHP we concluded some 17 lettings on the high street and ended the year ranked number 1 in number of deals across the county by EGi. These deals brought in a number of high quality operators including:

• A relocation for well loved Greek restaurant The Souvlaki to Market Place
• Giving Derby Uncovered a bricks and mortar store on Sadler Gate
• An expansion of Matlock based games retailer Critical Hit which saw them open on Albion Street
• B&M taking the former Wilkos on London Road and Park Farm Allestree
• A letting of 48 St Peters Street to the excellent Japanese restaurant, Kokoro which will see them open in 2025

In more recent news, in December a letting of 1-5 The Strand completed. The stunning grade II listed building was best known until recently as Bar Revolution however after closing their doors during a group insolvency earlier in the year, this deal will see an experienced operator bring an exciting concept to Derby’s leisure circuit.

You can’t talk about Derby without mentioning the Derbion and the shopping centre remains a lynch pin of the city centre going from strength to strength welcoming high profile brands such as White Stuff, Castore and Pavers in 2024. New arrivals were bolstered by upsizes for Superdrug and Greggs and an extensive refit by New Look which demonstrate continued confidence in the location.

These standout deals tell a great story about the city but it’s also worth mentioning the many deals done along side these to local traders who fill spaces on the high street and play their part in ensuring the vibrance of the city centre and keeping footfall numbers solid. The easy thing is to criticize landlords and agents for these deals but in our view they play a vital role in the ever changing landscape of the high street. On top of this, we have a number of deals in the pipeline to high quality operators and expect to be able to make announcements in the first quarter of 2025.

Another highlight of 2024 was our instruction as sole agents by Devonshire Group at Peak Village Rowsley where we brought Clay Rooms and Young Ideas into the scheme as well as agreeing renewals to Regatta, Denby and Dotique. The scheme is now at full occupancy but there are exciting investments to come and we look forward to continuing the elevation of this fantastic shopping centre.

Continuing to look at Derbyshire, in August we saw a quick letting of 5a St John Street to Lichfield based restaurant chain, Poms Kitchen who are proving a popular destination. This deal was agreed within a few weeks of bringing the refurbished premises to the market. The F&B sector in the town seems revitalised since the opening of BEAR Kitchen & Coffee the previous year.

Further north, we are proud to be appointed as sole agents for Baileys Square, Clay Cross working along side North East Derbyshire District Council. This ambitious town centre regeneration scheme is funded by Levelling Up and will see the pedestrianisation of Market Street and creation of a new town square providing accommodation for high quality cafes, restaurants and leisure operators.

Derby in 2024 wasn’t just about new names and relocations. Acting for landlords, FHP agreed a renewals of Lloyds Bank’s lease on St Peters Street, H Samuel on Burlington Arcade Chesterfield and to Ashgate Hospice in Alfreton among many others.

In spite of rising inflation and a budget that was taken negatively by the vast majority of retailers, both big and small, we finished the year strongly with a number of deals sneaking in before Christmas and have kicked off 2025 with solid level of enquiries so are optimistic that momentum will continue…

• Bar, Restaurant, Café and Leisure units to let from 51.10m² – 446.80m² (550ft² – 4,809ft²)
• Creation of a new town square and pedestrianised area in the centre of Clay Cross
• Population of 32,000 within a 10 minute drive
• Planning consent for Use Class E
• Rent: £16 per ft²
• On site car park
• Pedestrianisation of Market Street between Bridge Street and the A61
• Close to Clay Cross bus station

• Ground floor retail unit in the heart of Derby’s popular Cathedral Quarter
• Will suit retail, café, restaurant or other use subject to permission
• Nearby occupiers include Carnivore, Boa, The Forge, Bunk, Milk & Honey, Bear Café, Pizza Express, Iron Ram and more
• Rent on application

• Ground floor retail unit in the heart of Derby’s popular Cathedral Quarter
• Will suit retail, café, restaurant or other use subject to permission
• Nearby occupiers include Carnivore, Boa, The Forge, Bunk, Milk & Honey, Bear Café, Pizza Express, Iron Ram and more

• Located on Derby’s prime retailing pitch
• Adjacent to McDonalds
• Suitable for a variety of uses (subject to planning)
• Currently undergoing comprehensive refurbishment to a white box finish
• Nearby operators include Costa Coffee, Subway, Lloyds Bank and Tesco Express
• Quoting rent – £20,000 per annum

Acting for private landlord clients, FHP are pleased to announce a letting of 5a St John Street within the picturesque Derbyshire town of Ashbourne to Poms Kitchen has completed.

Tom Wragg, Associate Director comments:

“This letting was a real example of giving the right advice to the client and getting the timing right as, after the property had been on the market for some time before our involvement, we advised the landlord to undertake internal and external works before reintroducing it. Within a week of the listing going live we had it under offer to Poms Kitchen who are a fantastic operator with a number of existing locations. This is an exciting addition to the vibrant Ashbourne food scene, and I am pleased to have been a part of this letting”.

Edward Marshall, landlord’s property advisor, also adds:

“We are pleased to have got one of Ashbourne’s best retail units occupied by a new trader to the town with an exciting offer soon to be opening. It shows the strength of the town as a trading location.”

This letting follows hot on the heels of FHP’s acquisition of 19 St John Street for BEAR in 2023 and is set to be backed up by a letting of 6 St John Street which, at the time of writing, is under offer to a retailer with multiple existing stores. All of this demonstrates increased interest in Ashbourne particularly from the F&B sector.

For more information on FHP can assist with your Derbyshire Retail & Leisure, please contact Tom Wragg (tom@fhp.co.uk / 07970 168 138) or Corbin Archer (corbin.archer@fhp.co.uk / 07929 716 330).

ENDS

Tom Wragg

19^th August 2024

Working in conjunction with North East Derbyshire District Council, FHP are pleased to confirm our appointment as sole agents for Bailey Square in the Derbyshire Town of Clay Cross.

The Town Centre Regeneration Project will see a creation of a new Town Square and the pedestrianisation of Market Street, which will provide a brand new high quality retail and leisure destination to accompany the strong existing retail offering which includes Tesco, Aldi, Iceland, Poundland, Card Factory, Peak Pharmacy and more.

The scheme will see significant investment into the Town with the creation of 17 leisure and food and drink units set within the vibrant new Town Square.  The individual units will range from 500ft² – 4,809ft² to accommodate a variety of uses and we are already seeing strong interest from a mixture of national operators alongside good quality regional independents.

For more information on Bailey Square, please contact Tom Wragg on 07970 168 138 / tom@fhp.co.uk or Alan Pearson on 07876 396 005 / alan@fhp.co.uk.

• High footfall pedestrianised location near Derbion main entrance and Riverlights/bus station
• Suitable for retail / F&B
• Nearby occupiers include Phat Buns, Greggs, Ladbrokes, Nationwide and Poundstretcher
• Rent: £25,000 per annum
• Rateable value: £15,500

• Ground floor trading: 265m² (2,857ft²)
• First floor trading: 240m² (2,578ft²)
• Part fitted bar/restaurant
• Prime bar/restaurant unit within Derby’s wet led leisure circuit
• Nearby occupiers include Turtle Bay, Revolucion De Cuba, Pieminister, Cosy Club, Stein Strasse and more
• 3am premises licence

• Ground floor trading: 265m² (2,857ft²)
• First floor trading: 240m² (2,578ft²)
• Part fitted bar/restaurant
• Prime bar/restaurant unit within Derby’s wet led leisure circuit
• Nearby occupiers include Turtle Bay, Revolucion De Cuba, Pieminister, Cosy Club, Stein Strasse and more
• 3am premises licence

• Located at the gateway to the Peak District National Park
• Close to the iconic Chatsworth House and Derwent Valley Mills UNESCO World Heritage Site
• Derby, Nottingham and Sheffield within 1 hour travel
• 4.2m residents within 60 minutes drive time
• 3.7m vehicles pass Peak Village via the A6 annually
• Visitor profile noticeably more affluent than the nearest competitor outlet
• 93m annual tourist visits within 60 minutes worth £2.5bn per annum

• Ground floor retail unit within busy retail parade
• E class premises would suit retail, café, restaurant or other use subject to permission
• Nearby occupiers include The Ritz cinema, Oxfam, Dominos Pizza, The Greenhouse and Monk Bar
• Rent £18,500 per annum
• Available October 2024

• Peak Village has appointed new letting agents to capitalise on continued growth and investment at the centre
• In the past twelve months alone, Peak Village has welcomed 535,000 visitors through its gates

Devonshire Property Group, part of the portfolio of Devonshire Group businesses, has appointed FHP Property Consultants to support with new lettings and lease renewal negotiations at its Peak Village retail centre in Rowsley.

The new appointment follows strong 2023-24 performance at Peak Village with continued investment and proactive asset management from Devonshire Property Group delivering £8m in turnover for the financial year, up over £4m in the space of three years. Amidst difficult trading conditions in the post-pandemic period, diversifying the centre’s offering, as well as delivering a mix of independent and high street brands, has also had a noted impact on footfall at the site, with over half a million people coming to sample what Peak Village has to offer.

In the last eight months alone, Peak Village has welcomed three new retailers to the centre, with Ashbourne-based premium lifestyle and country clothing and footwear retailer Henmores, local independent business Baxter & Co and artists and makers collective, The Derbyshire Makers all opening stores.

FHP will work with Devonshire Property Group to support the centre as it aims to continue evolving its retail and leisure mix to drive further footfall and attract local independent, luxury and national brands. FHP has the largest dedicated retail and leisure team of any agents in the Midlands, and has claimed the EG award for “Most Active Retail Agent in the East Midlands” for 12 successive years and was ranked 5^th nationally in 2023 for retail and leisure space transacted.

Katayune Jacquin, Centre Manager at Peak Village, added: “Devonshire Property Group is committed to bringing the most desirable, exciting and in-demand retailers to Peak Village. Working with FHP is a crucial part of our strategy for making the centre the go-to destination for both those from the region and the many tourists who visit Derbyshire every year. The past few years have been incredibly difficult for the retail industry, and I think it’s a testament to our resilience and approach to investment that Peak Village has not only been able to weather those storms but thrive.”

Tom Wragg, Associate Director at FHP said: “We are excited to be working with Devonshire Property Group in supporting the evolution of Peak Village and bringing premium retailer and leisure operators into the scheme alongside exciting independent and regional businesses. At FHP we pride ourselves in being a national agent with a regional presence which puts us in a prime position to attract the right mix of operators for Peak Village. We are already seeing strong levels of interest from high quality national retailers and look forward to building on that momentum.”

The Devonshire Group purchased Peak Village in 2021, with the aim of revitalising the centre by drawing on local expertise to enhance the site’s role in the economic and employment landscape of the Derbyshire Dales, as well as supporting the local community.

Significant investment since then – including ongoing work to transform the site’s central courtyard and Massarella conservatory to provide a modernised and more welcoming areas for customers – has enabled the site to continue improving and growing.