Real Estate Investors, the Birmingham-based property investment company, has signed a deal that will draw more shoppers into Walsall.
Retail Multiples (Walsall) Ltd has taken the 35,000 sq ft former BHS store on Park Street which has been vacant since the demise of BHS in August 2016.
Retail Multiples has signed a new lease from January 2019 for 20 years and plans to convert the unit into an indoor shopping centre with approximately 35 tenants.
On the busy shopping parade of Park Street, Retail Multiples (Walsall) Ltd join neighbouring occupiers including Superdrug, Waterstones and Foot Asylum.
Jack Sears, Asset Manager at REI, said: “This is great news for Walsall shoppers and is bound to create significant footfall for Park Street. It’s also great news for REI as the property had been vacant for some time and we are pleased to have signed up Retail Multiples (Walsall) Ltd.”
Donna Barnes of law firm Shakespeare Martineau acted for REI and Retail Multiples (Walsall) Ltd were advised by Alun Price at Morgan La Roche.