£3 million leisure development in Kidderminster town centre, and is fully let.
Exchange Street Properties has completed work on a £3 million leisure development in Kidderminster town centre, and is fully let.
Riverside is a 12,000 sq ft restaurant / retail development in a prime central location in Kidderminster, which is expected to create more than 100 new jobs. It is adjacent to the 325,000 sq ft Weavers Wharf retail development, Tesco, Kidderminster College and Birmingham Metropolitan College.
Loungers, the informal, neighbourhood food led cafe/bar chain, has taken Unit 1, a 3,500 sq ft unit on a 15 year lease, Le Bistrot Pierre, a fast growing national restaurant chain offering French provincial cuisine has taken Unit 2, also of 3,500 sq ft, on a 25 year lease, while Unit 4, a 2,500 sq ft has been let to Coffee #1, part of S A Brains Ltd, on a 20 year term. Loungers and Coffee#1 have just completed their fit outs and opened. Le Bistrot Pierre will open in June (2017).
The new Riverside development, named after its outlook over the River Stour, is newly constructed on part of the former Brintons Carpet headquarters site, acquired by Exchange Street Properties in 2014. The remaining refurbished grade II listed office space has been sold as a headquarters building to an unnamed local company which will bring a further 150 jobs to the site.
Max Goucher, Director at Exchange Street Properties, says:
“I am delighted to have completed construction of Riverside with 85% of the space already taken by serious national operators who can see the benefit of being in the improving Kidderminster town centre.
“Riverside’s striking glass and aluminium elevation, along with the opportunity to offer Alfresco dining on an attractive riverside boardwalk benefiting from a sunny southwest aspect, has also proved a real draw to this development.
“There is strong interest in the remaining unit of 2,000 sq ft which would suit a national, regional or local operator looking to benefit from the destination already created by our three tenants, as well as the high footfall around the development.
“Kidderminster has benefited from a £4 million public realm investment which is helping to encourage further private sector development of new facilities in the town centre, including, I hope in the near future, a cinema opposite Riverside.”
Flying start to the year for Midlands development site
Riverside, a multi million pound town centre development in Kidderminster has pre-let 60% of the A3 units before construction has even commenced.
Loungers, the informal, neighbourhood food led cafe/bar chain, have taken a 3,500 sq ft unit on a 15 year lease and 2,500 sq ft has been let to Coffee #1, part of S A Brains Ltd on a 20 year term. Unit 3 is now let to Italian wine bar operator Veeno.
Part of the Grade II listed, former Brintons Carpet headquarters site is currently being demolished to create a number of restaurant units. The 42,000 sq ft site will create approximately 12,000 sq ft of retail/restaurant space with a primary frontage to Riverside including a separate building with a frontage to Exchange Street/Town Hall Square leaving room on the upper floors for further development.
Max Goucher, Director at Exchange Street Properties commented
“I am thrilled at the level of interest in the scheme so far, we only have two units remaining, a 3,500 sq ft and a 2,000 sq ft unit, which are proposed to be for A3 users. We anticipate an Italian or chicken based restaurant in the larger unit.”
The scheme is in an enviable location adjacent to Weavers Walk and Tesco, it will also benefit from a striking glass and aluminium elevation along with generous outside seating overlooking the river.
Wyre Forest District Council have allocated four million pounds for pavement upgrades in Kidderminster, which include the Riverside area.
It is estimated that the completed development, situated in Exchange Street next to the River Stour, will be valued at £4million and could create up to 80 jobs depending on the businesses that move in. Construction work commences in the New Year with completion late summer 2016.
Major town centre development proposal given thumbs up
MULTI-million pound plans to transform an historic Kidderminster carpet factory into a prime shopping and restaurant complex have been given the green light.
Wyre Forest District Council’s planning committee approved the application by Exchange Street Properties Ltd to partially demolish the Grade II Listed former Brintons Carpet site and create a number of retail and leisure units.
It is estimated that the completed development, situated in Exchange Street fronting Riverside next to the River Stour, will be valued at £4million and could create up to 80 jobs depending on the businesses that move in.
Developer Max Goucher, of Exchange Street Properties, said work is anticipated to start in spring next year and they were nearing completion for the signing of national retailers.
He said: “The development represents a strategic part of the regeneration of Kidderminster coupled with the local councils proposed pedestrian road improvements and the Weavers Wharf extension. “The scheme will provide for much needed leisure uses in the heart of this busy central area. “The Grade II listed building has been empty for over two years and will bring welcome investment and employment to the town.”
The plan for the building, which dates back to 1876, includes the demolition of part of the site previously used as a warehouse and creating six units on the ground floor and four on the first and second floors. Potential uses for the six ground floor units include shops, restaurants, cafes, a pub, takeaway with the provision of an outdoor seating area in front on the riverside. The upper floors could be converted into a cinema, hotel, offices, gym or a dance floor.
Concerns were raised by the Environment Agency about the impact the scheme would have on wildlife, particularly otters known to used the area. An otter survey has been undertaken while further studies will be carried out before and after work starts to ensure there is no disruption to wildlife. Councillors have welcomed the scheme and hailed it as a major boost to the ongoing regeneration of Kidderminster Town Centre.
Wyre Forest District Council leader Marcus Hart said: “The River Stour is an integral part of the town centre and for many, many years we have not made the best use of it. “Here we have an opportunity that would provide further regeneration for the town centre. This fits and is a nice application for Kidderminster.”
Labour councillor Barry McFarland added: “This whole scheme is absolutely terrific and further enhancement of Kidderminster town centre. “It also keeps the facade of a very prominent building in Kidderminster, one of the few original buildings left, and so its retention is great. “While I do still have some environmental concerns, we want Kidderminster to be the best place to live, work and visit and on the balance of things I think it is great.”
LOCAL DEVELOPER TO CONTINUE THE TRANSFORMATION OF KIDDERMINSTER TOWN CENTRE
Exchange Street Properties Ltd has submitted a planning application to Wyre Forest District Council to further enhance Kidderminster town centre.
The application focuses on plans to transform the former Brinton’s Carpet headquarters into a prime leisure destination. The development proposes a sympathetic restoration of the historic Grade II listed building in the heart of the town centre.
The 42,000 sq ft development will create approximately 20,000 sq ft of retail/restaurant space, with a primary frontage to Riverside including a separate building with a frontage to Exchange Street/Town Hall Square leaving room on the upper floors for further development.
The development site is owned by local developer Max Goucher who recently brought the former Brinton’s headquarters after hearing it was on the market “I grew up in Kidderminster and the Brinton’s name is synonymous with the area, when I heard the site was for sale I immediately felt an affiliation for the location and to bring this historical –un-used building to life again.” Said Max.
Max was a minor joint venture partner of the Weavers Wharf scheme in the town centre and is keen to continue to be involved in the transformation of Kidderminster town centre.
Councillor John Campion Cabinet Member for Planning and Economic Regeneration said “The District Council has exciting plans to transform the public realm in Kidderminster during the course of the next year that will see improved spaces from Exchange Street through to the Bull Ring and High Street and we welcome proposals that bring that will bring that vision to life.”
Councillor Helen Dyke, Wyre Forest District Council’s Member Champion for Centres said “I’m very pleased to see any proposals come forward that add to the vitality of the Town Centre, including those that improve our leisure offer that will attract further visitors to the town.”
It is likely that the application will be determined late summer this year. Pending approval work is likely to start on site late 2014/early 2015. Wright Silverwood are acting on behalf of Exchange Street Properties Ltd.
Carpet firm site revamp planned
The 42,000 sq ft development will create about 20,000 sq ft of retail and restaurant space, with a primary footage to Riverside.