We acted on behalf of ROM Capital in acquiring a former petrol filling station site fronting the busy A441 Birmingham Road/Holyhead Road, Birmingham.
Our assessment and appraisal of the site showed a good return for many roadside uses and with our advice, planning consent was then secured for the development of 4 trade counter units.
Bartlett Property was instrumental in the design, layout and construction of the units to meet the market demand which allowed us to achieve 100% preletting of the units prior to practical completion of the building. Whist the economic downturn took its toll on the lettings, a 50% occupation rate was secured to national operators with the remainder subsequently let.
Despite the old Dairy site on Hagley Road Birmingham having sat vacant for a number of years with apparently little or no letting demand, we were convinced of the sites potential having carried out a full appraisal. Against conventional wisdom, we introduced the site to Horton Estates and Trebor Developments who equally had the foresight to proceed to acquire same with the benefit of full planning permission for the development of 19,000 sq ft of A1 retail space.
Our detailed knowledge and understanding of this sector enabled us to advise on the best scheme layout, elevational detail and branding. We also advised on potential operators and commenced negotiations to attract retailers prior to completion of the purchase.
Despite the severe downturn in the market and almost universal moratorium on the lettings and therefore developments, with the necessary determination we were able to agree 65% preletting of the scheme to national retailers before breaking ground.
Our clients, Gallan Group unconditionally acquired this 13.5 acre site in Cannock and instructed us to advise on the roadside, retail and leisure element of the overall mixed use development.
At the front of the site contracts have been exchanged with Travelodge for a 60 bed hotel. We are now in advanced negotiations with a number of national operators for the ground floor retail element of the development.
We are also in discussions with occupiers for potential drive thru/ drive to restaurants as well as gym and other leisure occupiers as the overall development continues to evolve.