Bruton Knowles acquires 28th store for 99p Stores

Property consultants Bruton Knowles advised discount retailer 99p Stores on the acquisition of its latest outlet at the newly opened Parkgate development in Shirley.

99p Stores, which has more than 25 stores in the West Midlands, opened its doors to the public for the first time on Monday 19 May as part of a ‘soft launch’ for the mixed-use scheme.

Bruton Knowles advised 99p Stores on the letting of the 9,700 sq ft retail unit. It has taken a 10-year lease from the landlord, Shirley Advance.

The Parkgate store is the 28th Bruton Knowles has acquired on behalf of 99p Stores since it was instructed in 2011.

David Walton, an associate at Bruton Knolwes in Birmingham, said: “At a time when most retailers are struggling to keep shops open, 99p Stores is bucking the trend. In line with its national expansion strategy, it is continuing to open new branches across the region.

“In just over two years we have acquired 370,000 sq ft of retail space for 99p Stores, which gives a clear indication of the rate at which it is continuing to expand.

“Parkgate is a prestigious development and the new store is a great addition to 99p Stores growing portfolio.”

Parkgate is an £85 million mixed-use development comprising 26 shops, cafés and restaurants, set around two new squares – Town Square and Trinity Place. The complex also includes 500 car parking spaces, housing and a gym.

As well as 99p Stores, other tenants include ASDA, Peacocks and Phones 4U.