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The most exciting High Street development within Cheltenham is the ongoing retail expansion of The Brewery Quarter; a mixed -use development which when complete promises to transform the High Street and position Cheltenham as one of the country’s principle retail towns.
The £30m scheme will create a high profile retail corridor from the vibrant High Street to the existing Brewery Quarter leisure complex, where people can ‘Shop’ ‘Dine’ ‘Stay and ‘Play’.
The stunning regency town of Cheltenham continues to undergo significant development and attract big name retailers including John Lewis, which is opening a flagship 130,000 sq ft store in 2017. As a town that ranks in the top 1% of Retail Footprint centres in the UK and South West, with dominant affluent Acorn Groups in Executive Wealth (20%) and Mature Money (17%), the town is still currently under represented by a variety of High Street retail operators.
The new premium retail space within the development will provide a rare opportunity for retailers looking to take a modern, flexible size unit located in the centre of Cheltenham. Once complete in Summer 2017 this new landmark development will comprise over 110,000 sq ft of prime retail space, along with a 104 bed Premier Inn hotel and 34 town centre apartments. The first block of the new development is almost fully pre-let, with Premier Inn opening in September 2016. Upmarket Loungers brand Cosy Club also opened an exclusive 5,000 sq ft first floor bar/restaurant along with SOHO Coffee Co, who both overlook the busy High Street and opened in Q1 2017.
Loungers Property Manager Raj Manek said; “We are extremely excited to be bringing the Cosy Club concept to The Brewery Quarter in Cheltenham and are really looking forward to trading alongside some fantastic retailers.”
Retailers will capitalise on the existing high footfall and great retail mix currently nearby the scheme – with retailers such as Superdry, Patisserie Valerie and Primark in immediate proximity and the exclusive Promenade just 100m away.
Nigel Jobson – Head of Property of Supergroup – said; “Cheltenham is a great town and where the much loved Superdry brand first started. The Brewery Quarter is only a stone’s throw away from our Cheltenham Store and we are looking forward to trading within close proximity to the development that will attract some great complimentary retailers and complete Cheltenham’s retail offer.”
The Brewery Quarter currently has over 3 million visitors per year and has a varied leisure offer including 11-screen Cineworld and IMAX, the luxury Screening Rooms cinema, Hollywood Bowl and a large choice of restaurants and bars. Recent additions are Brewhouse and Kitchen - pub and microbrewery, Adventure Leisure's Lost World Golf brand and The Restaurant Group’s concept Coast to Coast is due to open its doors at the end of the year in a 6,500 sq ft unit.
Philip Martin, Director at Martin Commercial Properties who are development managing the expansion project - said; “The Brewery Quarter will offer retailers with a requirement for Cheltenham a unique and exciting opportunity. Now that the frame construction of the retail shells is complete, we are carrying out onsite inspections with potential retailers, which have been really positive so far. The units can be tailored to suit individual tenant requirements from 3,000 to plus 20,000 sq ft.”
Savills and KLM Retail are the agents acting on behalf of NFU Mutual on this scheme.
Dominic Brady - Partner at KLM Retail - said; “Effectively combining leisure and market-leading retail is the key to a successful development and this will have it all. The Brewery Quarter in Cheltenham is perfect for retailers looking to take advantage of Cheltenham’s affluent and thriving economy and this stunning development provides a one-stop destination in a high footfall location in the heart of the town centre.”