Prime location seals off-market Coventry store deal
A new high-quality convenience store in the heart of Coventry city centre is due to open next month – after property experts Bromwich Hardy completed an off-market deal.
The shop, at Unit 5 in Belgrade Plaza, has been leased to Midlands-based One Stop Stores and will open on May 26. It sits directly opposite the city’s popular Belgrade Theatre and is surrounded by student housing.
Bromwich Hardy founding partner Tom Bromwich said: “I’m delighted that we have been able to secure this deal on behalf of the Plaza landlords. It is a perfect location for One Stop Stores, and the 15-year lease shows the sense of optimism in Coventry as it undergoes significant regeneration and enjoys the benefits of its time as city of culture.
“Belgrade Plaza is Coventry’s premier leisure destination, and securing this deal demonstrates the value of a good location. Our graduate surveyor Mark Booth and I were able to use our detailed knowledge of the local property market to good effect to seal this deal off-market.”
The new One Stop Store is in a corner position in the Plaza, which is home to national brands such as Premier Inn, JD Gyms, Pizza Express, Café Rouge and Bella Italia. It is linked to a 1,100-space car park reached from the ring road, and is surrounded by newly-built and under-construction student accommodation schemes.
It offers 5,016 sq ft (465.99 sq m) of space, with a mezzanine floor which covers roughly a third of the floor space.
It has been let on a 15-year lease at a rent of £45,000 per annum in the first year, rising incrementally to £50,000 after five years.
27 April 2023