Retailer signs up for 4,000 sq ft at Exchange Square
Nikal has secured a 15-year lease with The Co-operative Group for a 4,000 sq ft convenience store at its Exchange Square development in Birmingham.
Set to open this Summer, the store will be located 0n the corner of Moor Street Queensway and James Watt Queensway and is part of Exchange Square 1’s 35,000 sq ft retail and leisure offering that also includes units on Dale End.
Upon completion of Phase 2, scheduled for Summer 2023, the development will be home to 978 apartments and a 235-bed Premier Inn Hotel.
Usman Sheikh, Co-op acquisition manager, West Midlands, said: “We are delighted to have the opportunity to develop a new convenience store which forms part of the ongoing regeneration of the upper East side of Birmingham. With its location close to the university, colleges and transport hubs at the corner of Moor Street Queensway and James Watt Queensway, it made Exchange Square an ideal location to support our ambition to connect communities and operate at the heart of local life – we are looking forward to developing the range, choice, products and services locally that will create a really compelling offer.”
Nikal development director, Darren Jones, said: “It is good news to have the Co-op on board as the first retail tenant at Exchange Square. They have been following our scheme for some time and it is a brand renown for offering a range of high-quality produce and for its community values. We’re working with a number of other retail businesses to finalise lease agreements and hope to have further good news to announce in the coming weeks. The remaining units are being marketed by Rapleys and CBRE.”
Alfred Bartlett, head of retail and leisure at Rapleys, “We were aware of Nikal’s reputation for progressive place making and admired their mixed-use schemes in the north. We’re proud to act for them on this scheme and delighted to have brought the Co-op on board. We felt it was the right first step in satisfying local demand and fits perfectly with the next phase of lettings, currently in solicitors’ hands, that will contribute to the creation of a fresh and vibrant new lifestyle destination.”