London, 2017-Jul-04 — /EPR Retail News/ — Two nationally known names are to open branches at a busy Birmingham shopping parade – with a third well-known high street retailer also poised to sign up, leading investment and property management company LCP has announced.
Dignity, one of the largest providers of funeral services in the country, and a nationwide takeaway and delivery chain have both signed tenancy agreements at Scott Arms, Great Barr, which is managed by LCP. A third high street name, which is not yet being named, is also under offer.
Jo Salmon, retail portfolio manager at LCP, said the deals gathered pace after it decided to introduce free parking for 90 minutes at Scott Arms in January.
LCP has also spent £100,000 carrying out a reconfiguration of the existing space to attract the new retailers to the scheme.
Dignity has signed a 10-year lease for a 1,400 sq ft unit, while the takeaway and delivery chain has agreed a 20-year lease for a 2,066 sq ft unit, which will also have seating for customers.
“We are very pleased to have signed up these two new tenants to Scott Arms,” said Jo. “The shopping parade is very popular among locals and it also attracts a great deal of passing trade, so the fact that we introduced the free, limited-time parking has had a positive impact, with a marked increase in footfall. It’s this that has helped us to attract these nationally known names.”
Just one unit remains vacant at the busy shopping parade, which about half a mile from junction 7 M6, although LCP hopes to announce a new occupier within weeks.
National commercial property consultancy Lambert Smith Hampton (LSH) acted as agents for LCP, attracting the new tenants to Great Barr.
Richard Jones, director of retail agency at LSH Birmingham, said: “We used our expertise to find the right tenants for the mix and are very pleased to have worked closely with the businesses and LCP to ensure the successful closure of these deals.
“With more than 30,000 passing vehicles each day there are potentially 11 million customers every year, making it a very attractive prospect for retailers.”
Ciaran Nolan, head of property at Dignity, said: “We are delighted to be opening a satellite branch in the Scott Arms Shopping Centre. We are committed to providing a high quality of service for our existing clients as well as increasing the level of choice for bereaved families that live in this area of the city.”
The shopping centre is prominently situated at the crossroads of the A34 Birmingham/Walsall Road, which connects Birmingham with Walsall, and the A4041 connecting West Bromwich and Sutton Coldfield. Junction 7 of the M6 is just over half a mile north of the Scott Arms.
LCP is planning further improvements at Scott Arms, including a car park extension, upgraded landscaping and common parts, plus new signage. Other occupiers include Iceland, Greggs, Well Pharmacy and Ladbrokes.