Rising levels of confidence have encouraged more businesses to snap-up space at a high-profile retail development in Newark.
Lincoln-based chartered surveyor Banks Long & Co have revealed that more jobs are on the way to Beaumond Cross Newark, the Asda superstore-anchored retail development located on the corner of Lombard Street and Portland Street.
The scheme, which is owned by Grimsby based property company MF Strawson, is delighted to welcome two new tenants, with both due to open before Christmas.
Well-known Newark family furnisher Holdens has taken a double unit within the site and is busy configuring the space for its new store, which will feature a mezzanine floor for its beds and bedroom departments.
The firm’s roots stretch back to the 1890s when it began making furniture in Belper, Derbyshire, but it opened in Newark in 1937 when it became a limited company.
Managing Director Jonathan Holden said: “This year is a milestone for our family business. My wife Marion and I have decided to retire and hand over the business to our daughters, Emma and Katie, who will be the fourth generation members of our family to head up the business.”
Since 1986, Holdens has been trading from a large site, which stretches from Middle Gate to Castle Gate in the town centre.
The company has now rented out the section fronting Middle Gate to the Yorkshire Trading Company, which opens for business on December 1.
Holdens Bespoke – which specialises in made-to-measure kitchens and all types of cabinet furniture – now trades from the fourteen room Georgian building 11 Castle
Gate.
“Having our main retail outlet in Beaumond Cross shopping centre appealed to us because we liked the idea of staying in the town centre, while also being based at a location which has the benefit of excellent parking facilities with the prospect of attracting exceptional footfall,” said Mr Holden.
“This part of Newark is already home to Asda, Subway, Barnardos, Golf Addiction,the bus station and Lombard Medical Centre, so it is convenient for both pedestrians and drivers.”
Holdens is planning to create at least two new jobs over the coming months and has already taken on an extra craftsman for its bespoke furniture-making workshop.
Ultimately, the business is on course to employ 14 full-time people.
Lincolnshire entrepreneur Daniel Murray has also spotted the potential on offer to businesses based at Beaumond Cross, where he plans to launch 3SIXTY Fitness on November 20. The new health club is poised to create up to five new jobs.
“I looked everywhere for the right premises, from Sleaford to Boston, Grantham and Peterborough and also researched the average income and age demographics for Newark, before deciding this was the ideal location,” said Mr Murray.
“Newark is close to the A1 and it is growing quickly. There are plans for 12,000 new houses here. In addition, the television presenter Jason Bradbury recently launched Silicon Forest, a major project to build on the District’s increasing reputation as a centre for advances in innovation and technology – and to encourage more tech firms to move here.
“3SIXTY Fitness is going to be a membership-based club and we will be listening closely to what our members want. I am hoping this will be the first of three gyms in the UK.”
The entrepreneur, who has experience of the fitness industry and who was formerly a personal trainer working in the Middle East, added that his gym concept has also attracted interest from that region.
Banks Long & Co Director James Butcher: “After a steady start, it is great to see more businesses showing confidence in the scheme, with the latest tenants joining the existing occupiers Subway, Barnados, Gold Addiction and Lloyds to provide an interesting mix of national and local retailers, served off a large pay and display car park and the adjacent bus station.
“It is good to see the latest arrivals include an expanding local business with a long history of trading within the town and an incoming entrepreneur who has spotted Newark’s potential.
“Not only does the town have a population of about 35,000 people, it has superb transport links and serves a large, affluent catchment of about 160,000 people.
“There is now only one remaining vacant unit, of just over 5,000 sq ft, at Beaumond Cross and plans are progressing well with our proposals for the adjacent Robin Hood hotel site.
“We are in discussions with a number of potential occupiers regarding these and feel sure the confidence shown by Holdens and Mr Murray in the scheme will assist us in these discussions,” added Mr Butcher.
