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03 May 2002
Trade is strong
at
Newark retail park
A man who returned to Hodgson Elkington at
the end of last year was pleasantly surprised
as to the strength of the Newark commercial
market.
Mr. Tim Shaw said: "I returned to my
hometown after working in Nottingham, although
I never actually moved away from Newark. I
now have a young family and look forward to
further improvements and better facilities
for Newark and the surrounding area.
"As a company, Hodgson Elkington is
involved in many developments in and around
the town. The new Northgate Retail Park has
proved a success with all the tenants reporting
strong trade.
"It is establishing itself as Newark's
premier retail park and with the repairs to
the Northgate Brewery adjacent, now under
way, the area should be significantly improved.
"On the industrial estate demand is
strong. We have recently acted for a local
occupier in acquiring some additional manufacturing
space and are also acting for a number of
other local users who are seeking additional
space or relocation.
"On the disposals side, take up is also
strong. Units at Sanigar Court have recently
been let at rents equating in excess of £4
per sq. ft.
"The out-of-town retail precincts under
our management are also proving popular once
again. Brisbane Court was once Balderton's
established local shopping precinct. Since
the development of Lakeside its attraction
has obviously suffered.
"However, we are pleased to report that
our efforts have paid off and now all units
are occupied or under offer. The precinct
has become a more service-oriented shopping
facility but the tenants are benefiting from
being located together.
"New tenants to the precinct include
Discount Cycles and Ivan Bilton Kitchens,
and include further expansion by Balderton
Tile Centre, an established trader at Brisbane
Court. The tenants are also reporting brisk
trade.
"At Hodgson Elkington we see no reason
why the current situation will change across
all property sectors. Our involvement in Newark
will see further new occupiers being introduced
to the town centre.
"On behalf of Kingsman Antiques, we
acquired Christ Church in Lombard Street.
This existing retail outlet will be opening
shortly and everyone will be able to appreciate
how sympathetically and successfully one of
Newark's historic buildings has been refurbished,
to offer modern retail floor space.
"Although not directly involved in the
redevelopment of the St. Marks precinct, we
hope that more new tenants will soon be occupying
this newly-refurbished space in the town centre
and help continue to further the attraction
of Newark as a place to live, work, shop and
spend our leisure time."
Further information from
Tim
Shaw
Tel: 01636 672780
Taken from Newark Advertiser, 03 May 2002
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