SPACE Have a Double Helping of Cream
Acting jointly with Colliers, SPACE have let the ground & basement floors of 4-8 Granby Street to the fast-expanding Dessert Parlour, Creams.
A new 10 year lease was agreed based on a commencing rent of £35,000 pa. Creams started in 2008 having spent many years perfecting their ice creams, waffles and desserts. There are now in excess of 50 parlours nationwide and their expansion is continuing rapidly.
Creams saw the pitch as being ideal – close to several independent café bar operators and also adjacent to Gallowtree gate and the ‘soon to open’ Sports Direct / Flannels retail unit about to open in the former BHS
Leaver Charles Granger acted for Creams
Following the letting SPACE subsequently acquired the freehold investment for a private local investment fund, showing an initial yield of 7.23%
Martin Herbert of SPACE commented ‘this was an excellent property to become involved in, made all the better by achieving 2 transactions! I am positive about the location in Leicester with various new operators having come onto Granby Street recently, including Rickshaw Ricks and GDK, all reporting very positive trade. When Sports Direct open we are sure pedestrian footfall will be significantly increased to this end of Gallowtree Gate and Creams should be well positioned to benefit from the resurgence in activity