Xhas now been added to your account
CONTINUE BROWSINGGO TO MY ACCOUNT
Retail News
Derby City Centre saw a fast start to 2024, with a number of High Street lettings completing including 30 St Peters Street and 11 Sadler Gate, as well as a lease renewal to Lloyds Bank. Generally we have seen increased activity in the market place, with a good number of enquiries for retail and leisure properties throughout the City Centre. We have also seen interest from a host of national fast food operators looking at space on the High Street, which further supports our view that St Peters Street and the surrounding areas will continue their pivot towards the F&B market and away from retail in the long term. Underpinning this, are recent lettings by FHP to Pieminister and Boo Burger on Victoria Street. In fact, currently the issue faced in attracting national fast food operators to the City, is a lack of available units of a sufficient size.
Demand from national retailers within the Derbion Centre continues with a string of exciting new additions due to be announced in the near future. This follows successful openings in 2023 and early 2024 of Cards Direct, Tag Heuer, Rituals, TUI, Yankie Candle and the additions of Popeyes, KFC and Burgers and Sauce to the food court.
Moving our focus into Derbyshire, we have seen improved demand of late for units within Ashbourne and the Town seems revitalised since the opening of Bear Café on St Johns Street. The renewed appetite for Ashbourne was clearly demonstrated when FHP brought 5a St Johns Street to the market and the property was placed under offer within one week of being listed in a deal which will bring an exciting restaurant into the town centre.
Continuing to look north, FHP have been appointed as sole agents at Peak Village, Rowsley. Peak Village is a premium retail and leisure destination, boasting national brands such as Regatta, Cotton Traders, Henmores, Denby and more alongside a vibrant collection of boutique independent traders. The scheme has also been bolstered by the revitalised and rebranded Chatsworth Kitchen, which offers a high quality dining experience and has opened to great success. Located just off the A6 near Matlock, Peak Village is an excellent retail destination for the local population and those visiting the Peak District. Since purchasing the scheme in 2021, the new owners have made significant investments as well as massive strides to improving the tenant profile, an ongoing project which FHP have been engaged to drive forward.
Despite ongoing financial pressures, the mood in Derby and Derbyshire is optimistic, a sentiment which is being backed up by good levels of activity in the occupier market and improved interest from investors with cash reserves in properties below £300,000 and we are looking forward to a strong 2024.
For more information on how FHP can assist in letting and selling your commercial properties or with lease renewals and rent reviews, please contact Tom Wragg (tom@fhp.co.uk / 07970 168 138), and Corbin Archer (corbin.archer@fhp.co.uk / 07929 716 330).