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Retail News
One of the original continental cafes from London has landed in Nottingham, bringing a mix of sophistication and sweet success to the city’s Exchange Arcade.
Patisserie Valerie, which can trace its origins back to the cafe society of 1920s London life, is offering quality cakes and patisserie, continental breakfasts, lunches, the finest teas and coffees in a sumptuous environment inside a building which has become an icon of civic grandeur.
The seats and armchairs of its interior are complemented by seating areas outside on Smithy Row and inside The Exchange Arcade close to its dome, providing al fresco dining all year round in an exclusive setting.
The deal was secured by Ben Tebbutt, Director in the Retail & Leisure team at the Nottingham property consultancy FHP. Patisserie Valerie has taken a 10 year lease on a unit which has 1,100 sq ft of ground floor trading space and a basement below. He says the letting is a welcome boost, bringing in a new upmarket name which is likely to encourage shoppers to spend more time in and around The Exchange Arcade.
He commented: “Patisserie Valerie is like a missing piece in Nottingham’s retail and leisure jigsaw, bringing something new and upmarket to the heart of the city centre. It’s also the kind of attraction which I think fits perfectly with the environment of The Exchange Arcade. It’s a prestige cafe brand with a reputation for giving customers something special and a heritage building suits it well.
We should pay tribute to both the landlords and the planners for appreciating what a good fit the Patisserie Valerie name is with a civic and cultural icon like The Exchange Arcade.”
He added: “We have seen a number of upmarket restaurants and cafes open in Nottingham in the past 18 months, including the likes of Carluccio’s and Jamie’s Italian. They play an increasingly important part in the visitor experience for people who come and shop here because they give people a reason to stay. On that basis, Patisserie Valerie is a great addition not just to The Exchange Arcade but the whole of the city centre.”
Paul May, the Chief Executive of Patisserie Valerie, said the signs were that customers remained committed to treating themselves despite a difficult economic environment.
He said: “Despite the current climate, we have been able to bring investment and new jobs to the UK’s High Streets. Everybody likes to indulge in a treat, which is essentially what Patisserie Valerie is about. This puts us in a different marketplace from any other chain.”
Claire Carrier, Associate Director of Tim Harries & Partners, represented The Exchange Arcade’s landlords, CBRE Investors, in the deal. She commented: “We’re very pleased to have secured such a high profile and upmarket tenant as Patisserie Valerie. The Exchange Arcade is an historic building with a beautiful, character environment well-suited to prestige brands and there’s no question that Patisserie Valerie falls into that category.
“The outside seating area under the Arcade’s dome is a real plus, meaning Patisserie Valerie can offer an al fresco experience all year round. This complements the other retailers within The Exchange Arcade, with customers spending more time looking at what they have to offer.”