Member Article

Altrincham Bar secures another 5 years

Altrincham has stood up well to the Covid effect, according to Daniel Lee, managing director of Regional Property Solutions.

“The town’s commercial property market is holding its own with a steady level of enquiries for available office, retail and leisure space. This is reflected in the rental levels achieved, which have held or increased on the pre-covid rates which are also reflected in rent reviews and lease renewals being agreed by our property management team.”

The 5 yearly rent review on the popular ‘Belgian Bar’ at 40 Greenwood Street, opposite Altrincham Market, has been agreed with the private landlord and the lessee, Platinum Events Limited. The three-storey property comprising 1,060 sq ft achieved an increase of 38% on the passing rent in June 2021 to £21,750 per annum.

A couple of doors down at 44-46 Greenwood Street, the same landlord has agreed a three yearly rent review on the property comprising 1,724 sq ft over two floors at a rental of £36,400 per annum reflecting an increase of 29%. The tenant currently uses the premises for an established food catering business supplying events around the UK but is planning to open a flame grill restaurant at the premises later in the year.

This was posted in Bdaily's Members' News section by Jill Brain .