Cheltenham shops to be filled
EMPTY shops in the Promenade will not be vacant for long, according to property agents marketing them.
The neighbouring Freespirit and Blacks units have been empty since the businesses closed in October and are available separately for rent.
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VACANT: The former Blacks and Freespirit stores in Cheltenham
Pete Downing, partner of Downing Bentley retail property specialists, said he believed a deal on the units was close.
He said: "There has continued to be a lot of interest in Cheltenham's Promenade – the street has been holding up very well indeed.
"I am very hopeful a deal will be struck on the Blacks and Freespirit sites by the end of February."
Mr Downing said he could not reveal the names of the interested parties for commercial reasons but said they were "well-known retailers".
Last year the stores' parent company Blacks Leisure, announced it was closing 89 shops across the UK, which had "not traded profitably for years".
Speaking about other units in the Promenade, Mr Downing said more than 20 retailers were waiting to open businesses in the street.
He said: "There has been a lot of interest in the vacant Nationwide unit as well and that could also be filled soon.
"Rental levels on the Promenade in some cases are at a higher rate than they were before the recession."
Mr Downing said the High Street had not fared as well as the Promenade but was still in fairly robust health.
He said: "Rental values on the High Street have slipped back slightly but are still competitive."
Martin Quantock, Cheltenham's town centre manager, said the Promenade was considered to be one of the most prestigious shopping destinations in the region.
He said: "I am not at all surprised to hear that there is a lot of interest in the Blacks and Freespirit sites. They were national chains, which went under and left a gap in what is a very sought-after location.
"I struggle to think of the last time a large unit remained vacant for any length of time on the Prom."
Opinion P8
27 Comments
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by Anon, Cheltenham
Tuesday, February 09 2010, 9:38AM
“Chris - You seem to have a lot of inside information. How do you you know about a new bowling alley in the Brewery? When can we expect it as it is so sad about the other one closing down? And is Asda definitely having a petrol station? Is it on the plans? The New Look will be great but it would be lovely if some use can be found for the Odeon - ice rink perhaps?”
by Ralph, Cheltenham
Tuesday, February 09 2010, 3:33AM
“I don't visit my town centre, sometimes for years, as I feel excluded from it due to a lack of convenient parking.
Mind you, I'd never shop in Gloucester!”
by Big Baby, Dymock
Tuesday, February 09 2010, 12:22AM
“Gavin Kingsway, sorry to pull you up but I note youve spelt Chav House wrong”
by Gavin, Kingsway
Monday, February 08 2010, 11:39PM
“Chris, most of what you trumpet as Cheltenham's retail success is out of town stores. At least Gloucester Quays is in the city centre (that's 50+ new city centre shops not a handful as in Cheltenham) And since when did Blacks/Millets "go bust" get your facts right ! And another thing - so you know Cav House is really being completely re-furbished do you?”
by Chris, Cheltenham
Monday, February 08 2010, 11:13PM
“Rob - let's see shall we - Land of Leather and MFI went bust - along with Blacks and Freespirt. Only a couple of restrurants and pubs have closed in Cheltenham - as they have in Gloucester - and across the country. And the Odeon closed years ago!
C&G has been sold and is staying open. There is a bowling alley due to open in the future in The Brewey and let's not forget the excellent moden Cineworld cinema that's there while we're comparing.
As for whats opened here - Home Store and More, dwell, A new Allied Carpets (it's closed completly in Gloucester), A large Dunelm, Homebase and the largest M&S Homestore in the South West (including Bristol).
Whats to come - the biggest New Look in the county, two new stores on the prom (which is completly filled except the Nationwide building), a large ASDA with petrol station (it'll be a nice one like in Bristol rather than Gloucester). And of course H&M once Cav House refrub is completed.
One question for Gloucester - where's your Next store...oh yes...
I think Gloucester and Cheltenham both compliment each other well - however Gloucester City Centre needs serious investment and Cheltenham needs the town centre plan to be completed to create a unified town centre.”
by Roger, Brockworth
Monday, February 08 2010, 10:50PM
“No-one has mentioned Cheltenham's rip off parking charges HIGHER than Gloucester. Cheltenham has FEWER free parking spaces than Gloucester. And did anyone else notice the new Park 'n Ride charges at Arle Court? Two weeks ago 4 adults in one car was £2. Now that same journey is £7!!! Cheltenham is pricing itself out of the market.”
by The Fool, on the Cleeve Hill
Monday, February 08 2010, 7:02PM
“Perhaps in up-market? Cheltenham they could open a few Two Pound shops?!”
by Rob, With the real facts
Monday, February 08 2010, 6:17PM
“Get your facts right, Cheltenham - You forgot to mention all the closures like Burger Burger, Cotswold Bowl, Land of Leather, Lights Fantastic, the main Post Office, Amathyst Honda, County Mercedes, MFI, countless restaurants, pubs around the town, shop units in Beechwood Place & Regent Arcade, many shops in High Street & Lower High Street, a perfectly good Odeon cinema (still derelict despite was supposed to be becoming a church or a night club) and we haven't had the predicted duplicated bank closures yet (Halifax/Lloyds/C&G or Abbey/Bradford & Bingley/Alliance & Leicester) . Last one to leave, please turn off the lights, good times here have gone and gone elsewhere unfortunately!”
by Martin, Glos
Monday, February 08 2010, 5:00PM
“The below comment is just one of the many reasons why Cheltenham will never be as nice as Gloucester.”
by Cheltenham, with a snobbish attitude towards, Glaaarster
Monday, February 08 2010, 4:48PM
“Gloster has a great selection of Poundland shops.”