Retail Property News and Deals

Clearance work on the site of a proposed leisure scheme in Preston’s Harris Quarter, which is being brought forward by Maple Grove and Muse, has completed with a revised planning application expected in spring. Muse first won planning consent for the redevelopment of the indoor market in 2016; designed by Frank Whittle Partnership, Benoy, and Greig & Stephenson, the project was to include an 11-screen cinema operated by The Light, 7 family restaurants, a 593-space multi-storey car park, and public realm improvements.Maple Grove was appointed to work alongside Muse in August last year. The developers are working in partnership with Preston City Council to bring forward the 160,000 sq ft scheme, designed by Leach Rhodes Walker, which will include an 8-screen cinema, a 16-lane bowling alley, restaurants and a new multi storey car park.

 

The bowling alley is a new addition to the scheme. Work is anticipated to start on site early 2021. Speaking at a recent Place North West event, Andrew Dewhurst, director at Maple Grove Developments, expressed a desire to add a “competitive social” element to the project. He said: “The leisure market is dynamic and fast moving, its tough. We always try to be ahead of the curve. He added: “With the site now cleared we are focused on submitting the revised application in the Spring. The inclusion of bowling will add another dimension to the retail and leisure offer and will be a superb addition to Preston City Centre. We have had a lot of interest in the scheme from a wide variety of leisure operators and it is great to see the first phase of remediation work now complete. Cllr Matthew Brown, leader of Preston City Council, said: “This leisure development will reinforce the Harris Quarter as a premier cultural and leisure destination in Lancashire and will help our City Centre to thrive as well as promoting an inclusive economy with the development in the ownership of the City when complete.”

 

CBRE and Brady Chartered Surveyors are advising on the scheme.

Casual Dining Group have completed an assignment of the former Café Rouge at 34/40 Grey Street, Newcastle-Upon-Tyne to LFR Leisure Limited trading as Pizza Punks.

 

The premises are held on a 15 year lease from January 2013 at a rent of £80,000 per annum and comprises 2,220 sq.ft. ground floor and 1,600 sq.ft. at basement level.

 

This is the 3rd Pizza Punks outlet following the success of their restaurants in Belfast and Glasgow.

 

The Assignors were represented by Bradys and AT Retail.

Bradys, acting on behalf of Kids Cavern Limited, have acquired Unit 11/15, The Met Quarter, Liverpool which extends to 15,212 sq.ft.  The premises have been taken by way of a 10 year lease.  

 

The Landlord, Metquarter Investments (Liverpool) Ltd were represented by Queensbury Real Estate

Bradys have let 22/24 Moor Street, Ormskirk, to Loungers on behalf of a private Landlord. 

 

The newly converted bar/restaurant, which trades as Nordico Lounge, comprises 2,200 sq.ft. (204 sq.m.) to both ground and first floors, has been taken on a new 15 year lease, subject to 5 year rent reviews at £57,500 per annum.

 

Insight Retail represented the Tenant.