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Retail News
Acting on behalf of a private investor client, FHP Property Consultants has secured a letting of a former shoe shop at 16-20 Market Place, Leicester to the City Council to accommodate displaced market traders as a result of the redevelopment of part of the Leicester Covered Market.
The property which contains 2,458ft² together with a further 1,744ft² at first floor has been let on a 20 year lease at a rent of £45,000 per annum subject to 5 yearly break options and rent reviews.
Mark Bradley, Director of FHP who negotiated the deal, commented:-
“The timing was perfect for our client as the property became vacant shortly after it was announced that funding was available to redevelop part of the covered market which is opposite the premises. The Council needed a sufficiently large unit in close proximity with rear loading facilities to act as a storage area for the market traders and to replace the existing building which is being redeveloped.”