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New lettings boost for retail sector

05 March 2018

Early market activity in 2018 has revealed a chink of light in the retail property sector, with 13 shop premises let by Andrew + Ashwell within the first month of the year.

The leading East Midlands commercial property specialist has completed lettings on nine retail units in the city and a further four in county and suburban areas, showing confidence in the local retail property market despite, the general consensus that the sector is in decline. Andrew + Ashwell also placed a further five retail units under offer in January alone.

Recent lettings include the occupation of 3 Silver Arcade by growing East Midlands takeaway retailer Doughnotts, opening their third store in Leicester, following success in Derby and Nottingham.

Further city centre lettings include ground floor premises in Church Gate, three-storey retail premises in Loseby Lane, a former café on Belvoir Street, a former estate agency on Charles Street and a prominent retail corner unit on Belgrave Gate. 

Premises under offer include units on Belgrave Road, Welford Road, Manor Walk Market Harborough and Main Street Broughton Astley.

Tom Meynell, Associate Director at Andrew and Ashwell said: “All of these lettings are new businesses taking the plunge for the first time by committing to retail property. This is very encouraging and demonstrates renewed confidence in the retail sector, despite uncertainty within the wider economy. 

“We have also been pleased to see a significant level of lease renewals under our management, reflecting both confidence and on-going commitment within the local retail community.”