Property agent looks to build on positive 2024 momentum

Commercial property agent FHP Property Consultants has said it is looking to build on the positive momentum it witnessed towards the end of last year in Derby’s retail scene.

The firm concluded some 17 lettings on the high street in 2024, which brought in a number of operators.

They included the relocation of Greek restaurant The Souvlaki to Market Place, the opening of Derby Uncovered in Sadler Gate, the expansion of Matlock-based games retailer Critical Hit, which saw it open on Albion Street, B&M taking over the former Wilkos stores in London Road and Park Farm Allestree and the letting of a unit in St Peter’s Street to Japanese Kokoro, which will open this year.

Tom Wragg, associate director at FHP, is the person responsible for city centre retail instructions at the commercial property agent.

He said: “In more recent news, in December a letting of 1-5 The Strand completed. The stunning Grade II-listed building was best known until recently as Bar Revolution.

“However, after closing their doors during a group insolvency earlier in the year, this deal will see an experienced operator bring an exciting concept to Derby’s leisure circuit.”

According to Tom, Derbion remains a linchpin of the city centre, welcoming high-profile brands such as White Stuff, Castore and Pavers in 2024.

Tom said: “These new arrivals were bolstered by upsizes for Superdrug and Greggs and an extensive refit by New Look, which demonstrate continued confidence in the location.

“These standout deals tell a great story about the city but it’s also worth mentioning the many deals done alongside these to local traders who fill spaces on the high street and play their part in ensuring the vibrancy of the city centre and keeping footfall numbers solid.

“The easy thing is to criticise landlords and agents for these deals but, in our view, they play a vital role in the ever-changing landscape of the high street.

“On top of this, we have a number of deals in the pipeline to high quality operators and expect to be able to make announcements in the first quarter of 2025.

“Despite rising inflation and a Budget that was taken negatively by the vast majority of retailers, both big and small, we finished the year strongly with a number of deals sneaking in before Christmas and have kicked off 2025 with solid level of enquiries so are optimistic that momentum will continue.”