A Nottingham property developer which has plans to make a city high street “cool again” says most of the empty units it has bought are filling up.
Arran Bailey, managing director of ALB Group, announced just six months ago that his company was buying up empty shops in Nottingham’s pedestrianised Bridlesmith Gate, with plans to revive the area. He said he wanted to offer incentives to bring businesses in and make it like London’s Carnaby Street.
He said all but one of the units have now been filled with the area bustling again thanks to independent operators and increased footfall – supported by Nottingham retail and leisure specialists Box Property Consultants.
ALB stepped in to buy 11 vacant units last year, along with three on nearby Lister Gate, after a number of big name brands pulled out during the pandemic.
Mr Bailey, who wants to put student accommodation above the units, said: “I am over the moon with how we have managed to breathe life into this end of Bridlesmith Gate, with a real diversity of tenants, and I hope to see the footfall increase.
“Box Property has done a fantastic job securing all these tenants.”
He said the latest tenant was established ladieswear boutique Stick and Ribbon which recently collecting the keys for its new 1,200 sq ft space – taking ALB’s final space on one side of Bridlesmith Gate.
Stick and Ribbon owner Sally Longden said: “What Arran is doing seems to be a really good opportunity for us to grow our business.”
Other companies moving in include Pygott & Crone, an independent estate agent which is moving from Baker Gate and has branches in London and all over the Midlands, including Lincoln, Grantham, and Spalding; BARiSTA, a craft coffee shop and deli; Keishi Jewellery; and Coffee Lab.
Fashion stores 18 Montrose and Sneakrverse have also signed deals to extend their leases.
Pygott and Crone director Tim Downing said: “We are pleased to be located on Bridlesmith Gate, as it has a rich history being on the north-south retail axis of Nottingham.
“It’s home to some of the country’s most stylish and vibrant retailers.
“The distinctive red Pygott & Crone brand will be a positive addition to the thoroughfare and we hope that it will become as familiar to the residents of Nottingham as it is to the people of Lincolnshire.”
Box Property Consultants director Frankie Labbate said: “It feels really rewarding to have been able to attract such a strong tenant mix, which we have created organically.
“We look forward to seeing the area go from strength to strength.”
Property Box xo-director Ben Tebbutt said: “The street is becoming more independent-led and is going to have more vibrant, younger Nottingham-led brands leading the way forward.
“We are acting not only as letting agents but asset managers in delivering results built upon the clear strategy we set out when first appointed to the project which includes both innovative leasing methods and potential environment/street scene improvements we are looking at delivering in due course.”