Work completed on £3m Kidderminster town centre Riverside development
Work on a new £3 million leisure development in Kidderminster town centre has been completed.
Exchange Street Properties, which has finished work on the 12,000 sq ft Riverside scheme, said 85 per cent of the space was already let.
The restaurant and retail development is expected to create more than 100 new jobs.
It is adjacent to the 325,000 sq ft Weavers Wharf retail development, Tesco, Kidderminster College and Birmingham Metropolitan College.
Loungers, the cafe/bar chain, has taken Unit 1, a 3,500 sq ft unit, on a 15-year lease; Le Bistrot Pierre, a national restaurant chain offering French provincial cuisine, has taken Unit 2, also of 3,500 sq ft, on a 25-year lease; and the 2,500 sq ft Unit 4 has been let to Coffee #1, part of S A Brains, on a 20-year term.
Loungers and Coffee#1 have completed their fit-outs and opened.Le Bistrot Pierre opens in June.
The new Riverside development, named for its outlook over the River Stour, has been built on part of the former Brintons Carpet headquarters site, acquired by Exchange Street Properties in 2014.
The remaining refurbished grade II listed office space has been sold as a headquarters building to a local company, which has yet to be revealed, and will bring a further 150 jobs to the site.
Max Goucher, director at Exchange Street Properties, said: “I am delighted to have completed construction of Riverside with 85 per cent of the space already taken by serious national operators who can see the benefit of being in the improving Kidderminster town centre.
“Riverside’s striking glass and aluminium elevation, along with the opportunity to offer Alfresco dining on an attractive riverside boardwalk benefitting from a sunny southwest aspect, has also proved a real draw to this development.
“There is strong interest in the remaining unit of 2,000 sq ft which would suit a national, regional or local operator looking to benefit from the destination already created by our three tenants, as well as the high footfall around the development.
“Kidderminster has benefited from a £4m public realm investment which is helping to encourage further private sector development of new facilities in the town centre, including, I hope in the near future, a cinema opposite Riverside.”
Unit 3 Riverside, is available at an annual quoting rent of £45,000.
