Developer swoops in major city centre property deal

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A property company has been acquiring empty retail units in a once vibrant part of Nottingham city centre with the aim of turning the area into “the Carnaby Street of Nottingham”.

ALB Group has to date acquired 11 properties in Bridlesmith Gate and a further three units in nearby Lister Gate, including the former Shoezone store.

But Nottingham born Arran Bailey, managing director of ALB, has snapped up units that are home to businesses such as designer fashion store 18Montrose, Fred Perry, and Coco Tang café and cocktail bar.

He says he is determined to put an end to the traditional high rents and long leases that landlords have previously demanded in the city, by making the units more affordable, with shorter lease periods.

ALB is teaming

 link source - The Business Desk

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