ALB Group, a property firm, has made a significant acquisition of vacant retail units in Nottingham as part of their ambitious plan to transform the area into a thriving shopping hub resembling London’s famous Carnaby Street. The company has recently purchased 11 units on Bridlesmith Gate and three on Lister Gate, including spaces that are currently occupied by prestigious fashion store 18Montrose and iconic brand Fred Perry.
The Managing Director of ALB, Arran Bailey, has set out to make these units more accessible to a wider range of tenants by offering affordable rents and shorter lease terms. This move aims to attract independent retailers and café/coffee shops to create a unique and diverse retail landscape. Bailey drew inspiration from Carnaby Street, a well-known shopping destination in London famous for its extraordinary stores and lively atmosphere. Shaftesbury, the property giant managing Carnaby Street, has successfully brought in a diverse range of tenants, including fashion, beauty, sports, and music-related businesses.
ALB is teaming up with Box Property Consultants (BPC) to execute this project. Ben Tebbutt, Director of BPC, commended Bailey’s vision and enthusiasm for revitalizing Nottingham. Tebbutt believes that the vacant units provide an excellent opportunity to breathe new life into Bridlesmith Gate and restore it to its former glory. The objective of ALB and BPC is to create a vibrant and trendy area that pays homage to Nottingham’s historical reputation. They hope to generate the same level of excitement that can be seen in areas like Hockley.
In conclusion, ALB Group’s acquisition of empty retail units in Nottingham is an ambitious endeavor to transform the area into a bustling shopping district akin to London’s Carnaby Street. By offering affordable rents and shorter lease terms, ALB aims to attract independent retailers and café/coffee shops and create a diverse retail landscape. Teaming up with Box Property Consultants, they aspire to revitalize Bridlesmith Gate and recapture Nottingham’s former glory, generating a vibrant and trendy atmosphere reminiscent of Nottingham’s past reputation. With the right execution, this project has the potential to generate the same buzz as areas like Hockley.
Useful links:
1. Carnaby Street Official Website
2. Regeneration Projects in Nottingham
