A national coffee chain is the latest business to move into a retail and leisure complex near Southampton.
The letting at Market Quay in Fareham is local Costa Coffee franchisee Premier Coffee’s second store in the town centre, complementing its existing one inside covered Fareham Shopping Centre.
Regional real estate adviser Hughes Ellard, which has offices in Fareham and Southampton, acted on behalf of landlord Threadneedle Property Investments in the corner unit deal.
The 1,384 sq m (14,900 sq ft) Market Quay offers mixed retail and leisure from 17 units including JJB Sports, Robert Dyas, TK Maxx and Wilkinson Plus, as well as five-screen Apollo Cinemas.
Hughes Ellard’s retail specialist Tim Clark represented Threadneedle jointly with London-based Jones Lang Lasalle. Lease details were not disclosed.
He said: “In the current retail market the coffee shop sector continues to thrive and we have concluded a number of lettings with the main operators in this sector over the last few months.
“The coffee sector is now regarded as an important element within shopping centres, leisure schemes and town centres in general. It provides a place for people to meet, increases customer dwell time and adds a general vibrancy to town centres.”
Premier Coffee now has around 25 branches throughout the region and was represented by Rob Powter & Co in Winchester.
Industry figures show that the global market for hot beverages- coffee and tea – is forecast to reach a staggering £44 billion in value within the next three years.
Market Quay, opened in 2005, was carried out in partnership with the local borough council and funded by Allied Dunbar.
