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Retail and leisure scene brightens

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A series of recent deals completed by Roche Chartered Surveyors suggest the region’s retail and leisure sector is picking up.

Salon Sixty Six has opened a new hairdressing salon based at 66 London Street, following a comprehensive refurbishment. Anglian Academy has taken a new lease on the building that comprises 1,275 sq ft of ground floor and ancillary accommodation totalling 1,630 sq ft. Roche Retail negotiated a surrender of the existing tenant’s lease and a new lease with the landlord. Adrian Fennell of Roche Retail said: “This was a significant letting for the eastern end of London Street and now this meant there were no retail vacancies in the entire street, which mirrored the continuing strengthening of Norwich’s retail market where vacancy levels are at an historic low”.

Elsewhere, Sainsbury’s has signed a new lease on 9/13 St Stephen Street totalling 4,300 sq ft and a new store will open in early 2014. Roche Retail advised the landlord, Aviva Investors, throughout the transaction.

Meanwhile, the appetite for freehold commercial property continues to grow, no more so than for well-located and sensibly priced public houses, says Graham Jones of Roche. The firm has recently concluded the sale of 4 pubs for long term client Enterprise Inns; The Fox & Hounds, Lyng to be re-opened as a pub; The Jolly Sailors Lowestoft for conversion to a fish restaurant, The Rampant Horse, Gayton for residential and The Falcon on Cromer Road, likely for retail use.

Last Updated ( Thursday, 06 March 2014 12:34 )