Local property experts have said that Harrogate continues to buck the trend by outperforming most other retail locations in Yorkshire with prime rental values increasing despite the tough economic conditions.
David Rastrick, Partner and Head of Landlord and Tenant at Sanderson Weatherall, the national independent practice of chartered surveyors and property consultants, has recently renegotiated lease terms in several of Harrogate’s prime locations such as James Street and Oxford Street and despite tough trading, rental values continue to rise in the town’s coveted locations.
Mr Rastrick commented, “Outside of London it’s very unusual at this time to see a rental environment that is as consistent as Harrogate, but it is clear from the recent open letting transactions that Harrogate is still a must be location of premium retailers.”
Acting on behalf of a retained client, Sanderson Weatherall LLP has renegotiated lease and rental terms with such occupiers as LK Bennett, Molton Brown and G23 in the town centre.
Peter Heron, Partner and retail specialist at Sanderson Weatherall added; “It’s no surprise that Harrogate continues to attract leading national chains. Cambridge Street remains the popular mid-market location strengthened by the presence of Marks & Spencer, Boots and Primark which have helped to maintain high levels of footfall.
“In contrast James Street provides a more premium offering with strong demand from high quality retailers, with vacant shops letting up very quickly. Indeed in the lucrative run up to Christmas we can expect to see Whistles and Mint Velvet opening new premises on James
Street as they hope to take advantage of its reputation as one of the best quality shopping locations in the region. “