| yorkshire region
A NEW ERA FOR SHEFFIELD’S CHINATOWN QUARTER H
eralded as ‘Sheffield’s Chinatown’ and ‘Sheffield’s own version of New York’s
Times Square’, New Era Square has the city waiting in anticipation with bated breath to see the finished first phase of the scheme, due to be open less than a year from now. The biggest source of focus at present
is the whopping 21 storey tower, the lift- shaft of which now dominates the Southern Ring Road,
St.Mary’s, even though it is not yet complete.
The smaller units are aimed at Oriental style street food vendors selling lunch to take away, although more traditional British fare will not be excluded, if it adds to the mix in general. A spokesperson for the developer, New
Era Developments said ‘ there will be everything from steamed pork buns called ‘bao’, to bubble tea, noodles and sushi in the style of the hip, modern street food vendors of international cities like Beijing or Shanghai.
Campbell and Company The first phase alone will boast the new
home of the 40-year-old KH Oriental Supermarket, and thirteen prime shop and restaurant units. Campbell and Company the niche Sheffield based agent for the scheme has now commenced marketing the phase 1 units in the development, which has attracted initial interest from a wide range of continental food retailers.
the niche Sheffield based agent for the scheme has now commenced marketing the phase 1 units in the development, which has attracted initial interest from a wide range of continental food retailers.
RETAIL REPORT SHOWS THE RESTAURANT MARKET IS COOLING
cooled significantly in the Yorkshire and Humberside region as operators are becoming increasingly more cautious, particularly around central prime pitches, according to its annual Midsummer Retail Report 2017. The Colliers report, explores the issues affecting the retail sector and provides an analysis of forecasting and trends both in and out of town. Tom Cullen, Director, Retail Agency North, in Colliers
L
International’s Leeds office said: “For the past few years, the food and beverage (F&B) sector has bolstered transactions the retail industry, but it is no longer the solid driver that it once was. We are seeing less demand for super prime restaurant units paying £175,000 pa or more for 3,000-3,500 sq.ft. Only the very best pitches or restaurant units costing £100,000-£120,000 pa to rent are seeing any significant demand. Carluccios on St Helen’s Square in York was the last super prime restaurant deal to open in the region in 2016. “The market modus operandi has changed; where once
operators would be confident in taking out 25 year leases, more and more are now negotiating five-year break clauses into their contracts to future-proof their business.” However, despite this negative news, the report also
demonstrates that the F&B offering within leisure parks and shopping centres have proven to be more resilient than the high street, as they have ‘round the clock’ footfall. Confidence in this type of retail unit is demonstrated at the White Rose Shopping Centre in Leeds which will open a 65,000 sq.ft food and leisure extension while The Moor in Sheffield has recently delivered phase two of the development.
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atest research from global real estate advisor, Colliers International, has revealed that the restaurant market has
T If you’re lucky you might get your hands
on one of the twelve exclusive private apartments atop the tower. The one, two and three bed private apartments will sit above several hundred luxury student studios, the first of which are already being let to students moving in this September. If that’s not enough to pique your
curiosity, by 2019 the second phase will add more shops and restaurants, student accommodation, an underground car park, offices and conference suite for a China-UK Business Incubator, all surrounding a pedestrianised public square for the world to enjoy. New Era Square. For further information and all
enquiries at this early stage should be directed to Alastair Campbell at Campbell And Co. Tel. 0114 276 5551 E-mail:
alastair@campbell-co.co.uk
DONCASTER WAREHOUSE RE-LAUNCHED AFTER REFURB
he extensive refurbishment of one of Yorkshire’s largest modern distribution warehouses is due to be completed next
month (June) The 190,000 sq.ft high-
bay warehouse, situated within the acclaimed West Moor Park development near Doncaster, was formerly occupied by Fellowes, the US office supplies manufacturer, and is now fully available on new lease terms. Iain McPhail, industrial property partner with Knight Frank in
Leeds, who are jointly marketing the warehouse on behalf of the landlords, commented: “This is an excellent opportunity to lease one of the finest industrial logistics units in Yorkshire. “The unit is superbly located off Junction 4 of the M18 in an
established industrial location which is already home to well-known occupiers such as IKEA, Scotts Miracle Gro and Next. “Connectivity is a real selling point with Doncaster Sheffield
Airport situated in close proximity, easy access to the regions excellent motorway network, as well as good links to the East Coast ports.” Steve Moriarty of Moriarty & Co added: “On completion of the
comprehensive refurbishment, the warehouse will be finished to a very high standard, which will add to its already impressive specification which includes: 17 loading doors, fully secure concrete yard, 203 car parking spaces, 10m clear headroom and HQ style offices over 3 floors.”
COMMERCIAL PROPERTY MONTHLY 2017
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