REI moves quick to secure final tenant for Bearwood shopping centre

Real Estate Investors has secured a new tenant for a vacant unit at its Bearwood Shopping Centre.

The empty store resulted from the recent administration of Solihull-based clothing retailer, Store 21.

Coffee Lovers (Bearwood) Ltd, trading as Costa Coffee, has agreed a 15-year lease at an annual rent of £42,500, with five yearly rent reviews. It joins existing tenants Aldi, Poundland, Greggs and Lloyds Pharmacy.

Jack Sears, REI asset manager, said: “The decision of Costa Coffee to invest in Bearwood illustrates the strong retail demand in the area.”

Bearwood Shopping Centre comprises the Aldi supermarket plus nine adjoining retail units, together with parking for 120 cars.

REI was advised by Birmingham agents BWD.