Businesses are still planning positively for the future on high streets across the West Midlands despite COVID-19, according to a leading commercial property agency in the region.
Bond Wolfe Commercial was commenting after striking a string of new retail property deals in and around the Christmas and New Year period.
Recent deals include a five-year lease for a French-style barbers shop and a restaurant and champagne bar in a double-fronted unit at 6 to 8 Alcester Road in Kings Heath, Birmingham.
These prominent high street premises include 1,439 sq ft on the ground floor and 433 sq ft on the first floor, and have been let £40,000 per annum.
Further up the same parade, a clothing store has taken out a five-year lease at £20,000 per annum for 20 Alcester Road, a two-storey unit that was formerly used as a coffee shop.
And nearby two-storey premises with a ground floor retail unit at 28 Alcester Road, which previously housed a charity shop, are currently under offer to a specialist Moroccan furniture retailer on a 10-year lease.
Over in Walsall, a creative studio, arts and community hub has taken a five-year lease on Units 2 and 3 in a Grade II-listed former Victorian pub conversion at 7 to 19 Leicester Street.
Meanwhile, a 753 sq ft ground floor shop at 6 Bridge Street in Walsall has been let to an adult gaming business for £15,000 per annum on a three-year lease.
Up the road, a hair and beauty salon has taken a five-year lease on a 555 sq ft retail unit at 15 Bridge Street, for a rent rising to £15,000 per annum.
In West Bromwich, a Caribbean takeaway business has taken a 745 sq ft ground floor space at Unit 3 in the West Gate Plaza, on Moor Street, for £14,400 per annum on a three-year lease.
And a two-story, mid-terraced retail property with 1,233 sq ft of space at 261 High Street in West Bromwich has been purchased for £205,000, with the new owner currently renovating.
James Mattin, chief executive of Bond Wolfe Commercial, said: “The economy has had a tough time across the UK, with pandemic lockdowns hitting retailers and restaurants particularly hard.
“But here in the West Midlands we’re still seeing a lot of interest in available units, with businesses taking the medium and long-term view that trading will return and that now is the time to plan for when restrictions are lifted.”
