Recognising the importance of attracting new retailers to the city centre and the difficulty that independent retailers can experience in identifying and securing suitable properties within the city centre, Newport Now Business Improvement District (BID) has appointed M4 Property Consultants to help address the issues.
The Newport-based commercial property agency has been tasked with working with new potential retailers to the city centre to help them identify, view, and negotiate for suitable properties, to bring their business to the city centre.
Newport Now BID chairman Zep Bellavia said, “We recognise that sometimes it can be difficult for retailers, particularly new start-ups, to be taken seriously and book viewings and put forward offers on vacant properties within the city centre.
We have therefore taken proactive steps to address this issue and help those potential businesses coming to the city centre.”
Dan Smith, of M4 Property Consultants, commented: “We can work with these businesses, get to understand their requirements, help identify the right properties and liaise with the letting agents on their behalf to secure viewings and undertake negotiations.
We even offer to undertake initial viewings on behalf of other letting agents to save them the time in doing so.
Essentially, we are trying to make it as easy as possible for both the potential occupier and the landlord to come to an agreement, which will benefit all parties.”
The partnership has already successfully welcomed new businesses to the city centre. One such example is a personal training business who were looking to establish a new studio within Newport.
The enquiry was received by M4 Property Consultants who quickly achieved an understanding of their requirements and target market.
After considering several options, M4 put the company in contact with Loft Co – who are redeveloping Newport Market and were actively seeking ‘lifestyle’ businesses for their scheme.
A potential captive market of other occupiers in the building, as well as becoming a focal point of the city centre, were both key reasons why they decided to move ahead and take space within the redevelopment.
Other businesses that Newport Now BID, which represents more than 600 businesses in the city centre, are currently working with include an independent coffee shop, a café, and an arts and crafts shop.
Mr Bellavia said: “It is positive to see that the scheme is already achieving results and proving instrumental in helping to bring new occupiers to the city centre.
“We are very keen to ensure that we continue to build on this success and would encourage other businesses considering coming to Newport City centre to contact Newport Now BID by emailing [email protected] We are also widening the scheme to provide assistance to existing Newport Now BID members who may be considering relocating within the city centre, so they too are encouraged to get in contact.”