A developer who snapped up a number of shop units in a bid to bring new life into Derby city centre says they are now fully let.
Arran Bailey, managing director of ALB Group, bought seven buildings in Albion Street and East Street, in a bid to make the area “cool again”.
It came just a few months after ALB Group bought 11 properties in Nottingham’s Bridlesmith Gate and a further three in nearby Lister Gate, with exactly the same intentions.
Companies which signed leases on the Derby properties include specialty coffee shop The Barista Lab, Hatchet Harry's axe-throwing venue - both of which have also taken up some of ALB’s Nottingham premises – and lifestyle fitness boutique Pace, which is taking over a former EE store.
ALB has also bought upper floors at 1 Albion Street, which it plans to convert into apartments after receiving planning permission earlier this month.
Mr Bailey said: “Some people might have said we were setting our ambitions too high, but we are proud to say we have done what we set out to do – to attract fresh, independent names to Derby’s high street.
“We’re delighted to have been able to facilitate a revitalised shopping environment that people want to visit.”
ALB also owns a building formerly occupied by a Burton menswear store on the corner of Victoria Street and St Peter’s Street, which is set to be let to Boo, which adds a modern twist to the classic American burger and has branches across the Midlands and Manchester.
In Albion Street, Hatchet Harry’s will move into an old card shop, and next door, the former Goldsmith’s store will be let to Barista Lab.
A former Gap unit is still being marketed, but has received lots of interest, and there is currently a temporary tenant.
The other two units on the block of six are still home to The Sweet Emporium and The Olive Tree.
The tenancy deals were made possible thanks to property consultants FHP.
FHP surveyor Estée Coulthard-Boardman said: “It has been a pleasure working with ALB Group on the letting of these units and I am really pleased to have been involved.
“They are a proactive landlord who have been willing to reduce rents to allow local businesses the opportunity of a high street unit and help revitalise the city centre.
“To have achieved two lettings and have another unit under offer in just a couple of months of bringing the properties to market is fantastic.
“Albion Street has really struggled with vacancies in the past few years so this is a big news story for Derby, and I am hopeful this activity will encourage other occupiers to the high street.”
