Investment News | 20 July 2022

Major boost for high street as shop units let within months

Share this post:

A parade of vacant shop units in Derby city centre have been let within months of being sold to a developer.

Three months ago, ALB Group announced plans to bring a feel of London’s Carnaby Street to Derby following a deal to buy seven buildings in Albion Street and East Street.

It has now revealed that all premises are now fully let. Companies who have moved in include specialty coffee shop The Barista Lab, Hatchet Harry’s axe-throwing venue and lifestyle fitness boutique Pace.

ALB also purchased the upper floors of 1 Albion Street, which it is going to convert to apartments, after recently receiving planning permission.

Arran Bailey, managing director of ALB Group, said: “Some people might have said we were setting our ambitions too high, but we are proud to say we have done what we set out to do – to attract fresh, independent names to Derby’s high street.

“We’re delighted to have been able to facilitate a revitalised shopping environment that people want to visit.”

The developer also owns the building formerly occupied by the Burton menswear store on the corner of Victoria Street and St Peter’s Street.

Burger business Boo, which has branches across the Midlands and in Manchester, has exchanged contracts on the property.

The deals were made possible thanks to property consultants FHP.

Estée Coulthard-Boardman, surveyor with FHP, said: “It has been a pleasure working with ALB Group on the letting of these units and I am really pleased to have been involved.

“They are a proactive landlord who have been willing to reduce rents to allow local businesses the opportunity of a high street unit and help revitalise the city centre.”

Related Articles...

This will close in 0 seconds