Invest Independents helping to drive uptick in city centre retail activity

A commercial property agent has reported a rise in the number of retail units being bought or placed under offer in Derby.

During the last six months, FHP Property Consultants said it has secured a number of lettings in Derby city centre and further afield.

It has reported seeing a particularly strong appetite from independent operators, who are sensing an opportunity to secure city centre premises for a variety of uses.

Examples include designer and clothing retailer Flizzone, which has taken 6 Sadler Gate, 34 Victoria Street, which was let to Good Thai and 35 Wardwick, which has been taken by a café and bar operator.

In addition to small shops being taken at a positive rate, Flo Skate Park and Social Sports Society Padel have taken a combined 75,000 sq ft within the former Eagle Centre Market, part of the Derbion shopping centre.

FHP has also placed 14 – 16 St Peters Street under offer to a business with multiple stores throughout the UK.

The firm said: “While we feel many operators are somewhat reluctant to commit to new locations before the forthcoming Budget, we are seeing that hesitance from one business creates an opportunity for another.

“In the investment market, there are private investors with an appetite for competitively priced retail property in the city centre – with good levels of interest since the summer holidays ended as more individuals look at Derby as a great place to invest in.”

Harry Gamble, from FHP Property Consultants, concluded: “We are seeing strong demand for good quality, affordable retail premises that are ready to occupy throughout Derby and its surrounds.

“The emphasis to landlords is on removing the barriers to entry for incoming tenants who are understandably sensitive to the cost implications involved.”