Property developer Nikal has secured the first retail letting at its Masshouse residential scheme in Eastside to Papa John’s Pizza.
The international pizza giant has taken a 15-year lease on a circa 1,000 sq ft unit in the ground floor retail space at Masshouse Plaza, a part of Nikal’s mixed-use Masshouse development, for its brand new Birmingham city centre location.
Masshouse Plaza is home to both the 173-unit Masshouse residential development completed in 2006 and the 167-unit, multi award-winning Hive apartment building, which was completed in 2011.
John Moffat, Development Director, Nikal, said: “This is without a doubt one of the best deals to be done on this side of the city for many years and I am obviously delighted that we have secured an internationally-renowned brand such as Papa John’s.
“Eastside is a part of the city that is rapidly evolving and Papa John’s decision to position their key city centre store here reinforces the message that increasingly, this area is being seen as an extension to the traditional city core.
“With both Masshouse and Hive providing high quality residential accommodation, the City Park having recently completed and the on-going infrastructure development within Eastside, this is an outstanding opportunity for Papa John’s to be a part of this area’s continued growth and prosperity.”
Founded in 1984, Papa John’s Pizza is now the third largest pizza chain in the world, with over 200 stores in the UK and more than 4,000 sites across 36 countries..
Jonathan Mott, Development Director, Papa John’s, said: “While this is the sixth Papa John’s Pizza outlet in Birmingham, it will be our key city centre location and Nikal has provided us with a great opportunity.
“The location of this site at Masshouse Plaza is truly outstanding. The combination of the Hive and Masshouse residential buildings, and proximity to the universities, provides us with a good level of footfall. With both the clear short-term goals that this location can provide, and the long-term opportunities for further growth and enhancement through the regeneration of Eastside, I am confident that this is a strong location for Papa John’s and will showcase our philosophy of ‘Better Ingredients. Better Pizza’ at its best.”
Emma Charlesworth, from letting agents BWD, said: “The retail units at Hive are in a good position to make the most from the building’s key location, with a high level of passing footfall from both the residents and students in the area. With the on-going regeneration of Eastside, these retail units will continue to be highly sought-after.”
Formed in 2003 to pursue major regeneration and redevelopment opportunities locations across the UK, Nikal is continuing to explore development opportunities within Birmingham city centre and has received planning permission to bring forward the second phase of the mixed-use Masshouse scheme, Exchange Square, on the plot of land adjacent to Masshouse Plaza.