Nottingham developer snaps up six former Arcadia stores

ALB, the Nottingham-based property developer, has bought six former Burton/Dorothy Perkins stores from the administrators of Arcadia Group.

The firm has snapped up the sites in Derby, Long Eaton, Worksop, Stoke on Trent, Scunthorpe and Stockton on Tees.

Arran Bailey of ALB said: “We looked at all of the properties being offered by the Administrators and are pleased to have acquired six of these for the expansion of our portfolio. All of the units are in prime locations and we are confident that retail is going to bounce back post covid.

“All these properties have been acquired at a sensible price allowing us to offer them to tenants at very reasonable rentals going forward – tenants who were previously excluded from the high street including regional and independents can now play a part in the rejuvenation of the High Street.”

Phil Daniels of FHP Property Consultants, who acted on behalf of ALB, added: “These acquisitions follow closely on the heels of recent retail investment acquisitions in Chesterfield, Hanley and Nottingham.

“We are actively seeking further opportunities for ALB Group including single unit vacant retail, parades with upper parts for active asset management, non-prime shopping centres and vacant offices. As a cash buyer ALB have repeatedly been able to perform quickly following agreement of terms.”

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