String of retail deals ‘show resilience on the high street’

Moor Street West Bromwich

Businesses are still planning positively for the future on high streets across the West Midlands despite COVID-19, says a property firm which has overseen a string of retail deals.

Recent deals by Bond Wolfe Commercial include a five-year lease for a French-style barbers shop and a restaurant and champagne bar in a double-fronted unit at 6 to 8 Alcester Road in Kings Heath, Birmingham.

The high street premises include 1,439 sq ft on the ground floor and 433 sq ft on the first floor, and have been let £40,000 a year.

Further up the same parade, a clothing store has taken out a five-year lease at £20,000 a year for 20 Alcester Road, a two-storey unit that was formerly used as a coffee shop.

And nearby two-storey premises with a ground floor retail unit at 28 Alcester Road, which previously housed a charity shop, are currently under offer to a specialist Moroccan furniture retailer on a 10-year lease.

Over in Walsall, a creative studio, arts and community hub has taken a five-year lease on Units 2 and 3 in a Grade II-listed former Victorian pub conversion at 7 to 19 Leicester Street.

Meanwhile, a 753 sq ft ground floor shop at 6 Bridge Street in Walsall has been let to an adult gaming business for £15,000 a year on a three-year lease.

Up the road, a hair and beauty salon has taken a five-year lease on a 555 sq ft retail unit at 15 Bridge Street, for a rent rising to £15,000 a year.

In West Bromwich, a Caribbean takeaway business has taken a 745 sq ft ground floor space at Unit 3 in the West Gate Plaza, on Moor Street, for £14,400 a year on a three-year lease.

And a two-story, mid-terraced retail property with 1,233 sq ft of space at 261 High Street in West Bromwich has been purchased for £205,000, with the new owner currently renovating.
James Mattin, chief executive of Bond Wolfe Commercial, said: “The economy has had a tough time across the UK, with pandemic lockdowns hitting retailers and restaurants particularly hard.

“But here in the West Midlands we’re still seeing a lot of interest in available units, with businesses taking the medium and long-term view that trading will return and that now is the time to plan for when restrictions are lifted.”

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