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Professional Services News
Rental values in West Bridgford are continuing to rise despite the current economic climate.
The rent review effective from March 2010 on the David Holmes footwear unit at 4-6 Central Avenue, West Bridgford has been agreed at a rental of £74,500 per annum which shows a 16% increase on the previous rent from 5 years ago.
Mark Bradley of Fisher Hargreaves Proctor, who acted for the private landlord client, commented:-
“Retail property rents in most towns and cities have fallen during the last three years but West Bridgford is the exception.
Central Avenue remains a very popular location for retailers and the relatively short prime pitch compared with the level of demand for the town centre is resulting in competition for units which is creating the rental growth even in the current market conditions.
On the back of recent lettings to Barnardos and Specsavers, it has been possible to demonstrate that rental values have risen and to negotiate a rental uplift on the review.”
For further advice on rent reviews or lease renewals of retail premises throughout the Midlands, Yorkshire or East Anglia regions, Mark Bradley can be contacted on 01332 224852.