Two new shops will be shortly opening in premises let by B&NES Council in a signal that demand for retail space in the city continues to be strong despite the challenging national economic circumstances.
On Stall Street, the Perfume Shop will open imminently adding to its 200 or so network of stores across the UK. Although the unit had been empty for a few months the lease only ended in June 2011 – the Council didn’t need to advertise to let the property.
On Walcot Street, the relocation of Domino’s Pizza to London Road prompted significant interest from national companies. The shop was ultimately let to two local independent businessmen and will reopen shortly as a food outlet.
Councillor David Bellotti (Lib-Dem, Lyncombe), Cabinet Member for Community Resources, said, “It is very positive news that Bath & North East Somerset Council has been able to let these shop premises so quickly. Demand is strong and this is highlighted by the extremely low level of shop premises owned by the Council that are currently empty.
“Our high level of shop premises occupancy also reflects much of the work the Council has done with local partners and private sector over recent years to make Bath a vibrant, interesting place to visit. Projects such as SouthGate and the investment in the Roman Baths are underpinning a place where an unprecedented number of people are visiting hence why shops are keen to trade here.”
The void rate for Council retail property is currently 3% – equivalent to 6 premises out of 195. This compares with the latest national figures which indicate the proportion of vacant units is 13%.
Andrew Cooper, Bath Business Improvement District Manager, added, “New traders coming to the city is always very positive news because they encourage more people to come here to visit and shop. The quality of the place where retail units are located is a vital part of attracting businesses here and the activity of the Business Improvement District providing initiatives such as promotions and events to drive footfall is vital in supporting all businesses working in partnership with the council, and property landlords.”
Businesses looking for a shop unit can call the Council’s Property Services Team on 01225 477172.