The Cotswold Company, the Norwich-based furniture and home furnishings retailer, has committed to the take a lease of a newly configured 8,000 sq ft store on Station Parade in Central Harrogate, with a spring 2019 opening planned.
CEG is managing the creation of the new space by combining four existing units formerly occupied by Raft, Games Workshop, Indulge café and Santander.
The reconfigured space will be handed over to The Cotswold Company’s fit out contractors just before Christmas this year with a view to a January 2019 fit out commencement.
Paul Richardson, investment manager at CEG, said: “This transaction has been in the making for some time and a great deal of work has been undertaken behind the scenes to make it happen.
“We are absolutely delighted that The Cotswold Company has selected Station Parade as its ideal location in Harrogate and are very excited to see the completion of the project and store opening early next year.
“In addition to the combination works, significant improvements will be made to create a new double height shop front as a showcase for this high quality brand.”
Letting agent Richard Shuttleworth of Leeds-based Pudney Shuttleworth, who advised CEG alongside Central Retail, said; “Against the current national retailing backdrop, this really is wonderful news for Harrogate where there have been a number of recent high profile closures.
“The Cotswold Company has a significant and very successful on-line presence, along with four stores in Norwich, Chelmsford, Stow-on-the-Wold and Godalming.
“This deal, which involves a significant investment in the region of £1m, demonstrates CEG and The Cotswold Company’s continued faith in bricks and mortar retailing, while many other occupiers are scaling back their high street representation.”
Tom Limbert of Central Retail said: “Whilst the mid-market fashion brands such as H&M and Topshop have closed in the town centre, Harrogate still remains a very attractive location for the high end, quality retailers. With Next having agreed to upsize in the town centre, Harrogate is fairing a lot better than many other towns and cities across the UK.”
Tom Keyes-Toyer of SiteWorks Retail Real Estate Services acted for The Cotswold Company.
CEG manages a number of buildings in Harrogate, including the town’s tallest building, Exchange Parade and its largest office development, Central House.
The company has managed investment into Harrogate for the last 20 years and is committed to providing quality commercial properties designed to help businesses thrive.