Work completes on £3m leisure scheme
Work on a £3m leisure development in Worcestershire has been completed – with the scheme already 85% let.
Riverside is a 12,000 sq ft restaurant / retail development in a prime central location in Kidderminster.
The project, by Exchange Street Properties, is expected to create more than 100 new jobs.
The development is adjacent to the 325,000 sq ft Weavers Wharf retail park, Tesco, Kidderminster College and Birmingham Metropolitan College.
One business to have taken space in the new development is café chain Loungers, which has agreed a 15-year lease on a 3,500 sq ft unit.
Le Bistrot Pierre, which has recently expanded in West Midland footprint with the opening of new restaurants in Birmingham and Sutton Coldfield, has taken Unit 2 on the development. It has agreed a 25-year lease on the 3,500 sq ft unit.
Unit 4, a 2,500 sq ft space, has been let to Coffee #1, part of S A Brains, on a 20-year term.
Loungers and Coffee#1 have completed their fit outs and are now open; Le Bistrot Pierre is set to follow in June.
The new Riverside development, named after its outlook over the River Stour, has been constructed on part of the former Brintons Carpet headquarters site, which was acquired by Exchange Street Properties in 2014.
The remaining refurbished Grade II listed office space has been sold as a headquarters building to an unnamed local company, a move set to bring a further 150 jobs to the site.
Max Goucher, Director at Exchange Street Properties, said: “I am delighted to have completed construction of Riverside with 85% of the space already taken by serious national operators who can see the benefit of being in the improving Kidderminster town centre.
“Riverside’s striking glass and aluminium elevation, along with the opportunity to offer alfresco dining on an attractive riverside boardwalk benefiting from a sunny southwest aspect, has also proved a real draw to this development.
“There is strong interest in the remaining unit of 2,000 sq ft which would suit a national, regional or local operator looking to benefit from the destination already created by our three tenants, as well as the high footfall around the development.”
