STILL HOPE FOR RETAIL IN SOUTHAMPTON

Fear not! There is still hope for retail in Southampton.

Despite an apparent growing number of vacant retail properties in the City Centre, there is actually an encouraging take up, says leading retail agent Jeremy Braybrooke of Osmond Brookes.

For example, the former McDonalds, on the corner of Above Bar and Hanover Buildings, empty for the past 3 years, has now been split and let to Rush Hair, and Size, part of JD Sports. In addition the adjoining 18 Above Bar is under offer and No 17, the former Dolcis now let, both to household names.

Further up Above Bar, recent arrivals include Trendsetters, Model Zone and Fabric Warehouse, while to the South of the Bargate, in High Street, Tesco Express have opened in 4000 sq ft on the site of the old TK Maxx premises. There is 18000 sq ft of A3 restaurant space above that and the adjoining Argos, but even this is in negotiations with a prospective tenant for the whole.

In the Bargate Centre, which contrary to recent reports is not about to be demolished, there have been a spate of recent lettings. Lucid have expanded their jewellery operation with a body piercing unit and Guardian Jewellery buy your excess gold. The 4000 sq ft Titanic Exhibition in Unit 30 opens on 16^th April and is sure to attract a lot of visitors, while adjacent, Living Oasis have taken over the former Wesley Owen Christian Bookshop. Four existing tenants have just renewed their leases and two further units are under offer. Leases from 10 years to 12 months remain available.

In East Street, Southampton City Council have let all four of their empty units to a variety of tenants including Trevor Mitchell, a pawnbroker and a fish & chip shop. High Street had seen a spate of vacancies but recent activity has resulted in five more units either now let or under offer, including an Italian Delicatessen and an Indian Restaurant.

Finally, West Quay does not see many vacancies at any time but recent arrivals Yo Sushi are about to be joined by Pandora Jewellery in what is already one of the most successful Centres in the country.

So, despite the economic woes that are thrust down our throats on a daily basis, shop deals are getting done. Indeed many retailers, both local and national, are taking advantage of the current terms and incentives on offer and this is resulting in the successes reported above.

That said, there are still a number of units fully available, both prime and in good secondary positions and one of the largest selections in the area can be found on www.osmondbrookes.co.uk

For further details please contact Jeremy Braybrooke on 023 8000 2020 or email jeremy.braybrooke@osmondbrookes.co.uk

PRESS RELEASE – 14^th APRIL 2010

This information was subsequently featured in an article on Southampton Retail Property in the Daily Echo Southampton on 16th April and can be seen by clicking on this link - http://www.dailyecho.co.uk/business/8103725.Interest_soars_in_vacant_Southampton_shop_sites/