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Retail News
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…