Friday, 12 May 2017 News

British Heart Foundation on Castle Lane to close

British Heart Foundation on Castle Lane to close

It is always a disappointment to Murphy when one of our client's close a business.

Our client the BHF are coming to the end of a lease on Castle Lane, in June and have made the hard decision to close the doors of this prime store.

Our client leased the unit in the height of one of our economic downturns, in a unit that had been empty for some time, giving a much need occupier to a Landlord and a rental income.

Castle Lane was devastated by retail closures, with many empty units, however, they had the bravery to open a store and take a chance that it could work for them.

In the last 24 months, Castle Lane has seen a resurgence of occupiers opening, follow the opening of Flying Tiger, which has lead to the upwards movement of rents, making the location no longer affordable, when it came to lease renewal discussions.

Lets hope a suitable alternative will come to the market in the coming year that they can re-open within the city centre.