Two sign for LCP's Scott Arms shopping parade after £100,000 investment
The Black Country operator of a Great Barr shopping parade has pumped £100,000 in a major revamp and signed up a pair of new tenants.
Work will now start to convert shop units at Scott Arms to accommodate them later this year.
It follows owner LCP's introduction of 90-minute free car parking at the parade.
Dignity, one of the bigger chains of funeral businesses in the country, and an unnamed nationwide takeaway and delivery chain have both signed tenancy agreements at Scott Arms, which is managed by LCP. A third high street name, which is not yet being named, is also under offer.
LCP is a major property investment group with retail and industrial sites across the Black Country. It is based on Kingswinford's Pensnett Estate, which it also owns. The company's retail portfolio manager, Jo Salmon, said the Scott Arms deals gathered pace after LCP decided to introduce free parking for 90 minutes at the shopping parade in January.
LCP has also spent £100,000 carrying out a reconfiguration of the existing space to attract the new retailers to the scheme.
Dignity has signed a 10-year lease for a 1,400 sq ft unit, while the takeaway and delivery chain has agreed a 20-year lease for a 2,066 sq ft unit, which will also have seating for customers.
“We are very pleased to have signed up these two new tenants to Scott Arms,” said Jo.
“The shopping parade is very popular among locals and it also attracts a great deal of passing trade, so the fact that we introduced the free, limited-time parking has had a positive impact, with a marked increase in footfall. It’s this that has helped us to attract these nationally known names.”
Just one unit remains vacant at the busy shopping parade, although LCP hopes to announce a new occupier within weeks.
Ciaran Nolan, head of property at Dignity, said: “We are delighted to be opening a satellite branch in the Scott Arms Shopping Centre. We are committed to providing a high quality of service for our existing clients as well as increasing the level of choice for bereaved families that live in this area of the city.”
LCP says is planning further improvements at Scott Arms, including a car park extension, upgraded landscaping and common parts, plus new signage. Other occupiers include Iceland, Greggs, Well Pharmacy and Ladbrokes.