Darran Severn of FHP Property Consultants looks at the year head for the Derby retail and leisure markets:
2015 was certainly an interesting year for Derby. We witnessed an increased number of enquiries compared with previous years ultimately resulting in several successful lettings. Most noticeable was the number of new restaurant operators looking to open within the City and we envisage securing several more throughout 2016. Retailers continue to focus their requirements on Intu Derby, however we’re seeing encouraging activity on the high street.
During the last quarter of 2015, FHP were involved with a number of transactions in the City Centre including lettings to the like of Greggs, who have upsized on East Street; Sequence Homes who have relocated to the Corn Market and Pound Bakery who opened on St Peters Street. Going forward we are continually speaking to new and existing businesses and we currently have terms agreed with two national multiple retailers who have chosen to be amongst other likeminded brands on Sadler Gate. We are currently negotiating with three further national retailers to open on St Peters Street and East Street.
One of the key additions to the Wardwick last year was Turtle Bay who took 8,500 sq ft over four floors for their traditional Caribbean eatery. On the back of this we have now agreed terms with another operator who are due to open later this year, and we are continually speaking with a number of leading restaurant chains who want to open in Derby City Centre. Looking ahead to 2016, on the back of the momentum of 2015 we predict that the high street will continue to diversify, and whilst there are no illusions that a retail scene can transform in one year, the impressive amount of interest being shown in Derby by national operators suggests that some key lettings will go some way towards this.
It will also be a year where the council will play a pivotal role in deciding the future of key sites such as the Assembly Rooms, Duckworth Square and perhaps even a new location for a swimming pool complex.
We are always on the lookout for new opportunities and if you have a vacant property or you are looking to find your next premises, then please do not hesitate to speak to a member of the FHP retail team.
FHP Property Consultants offer a bespoke acquisition service by getting to know your business and understanding your requirements, we can use our in depth knowledge and experience of on and off the market opportunities to find the right property for you not only in Derby but nationwide.
