A growing retail property business has acquired a unit in a prime Warwickshire location for a new store after a deal was agreed with a leading commercial agency.
The 5,709sq ft unit at 36 Parade in Leamington Spa will become a new Nisa store following its purchase by Dougall Group, a family-owned property company which owns a variety of convenience stores in the West Midlands and London, after a deal was agreed by Leamington-based Wareing & Company.
The store will open in September after planning permission for external signs was granted.
Ricky Dougall, director of Dougall Group, was informed of the opportunity by Jonathan Blood, director at Wareing & Company.
“We had been looking at opening a store in Leamington for a while, but we’d never been able to find a property that met all of our needs,” Dougall said.
“I’d been in contact with Jon on a previous deal that we didn’t pursue in the end, but we kept in touch because of our desire to find a Leamington site.
“When he told us about this opportunity – especially to buy rather than rent – we knew this was the site we were looking for.
“36 Parade is in an excellent location being right next to the main bus stops and attracting a high level of footfall.
“We’re looking forward to opening in September and we’re confident Leamington will embrace the new store warmly. If all goes well, we’d be looking at potentially finding more sites in south Warwickshire to expand our portfolio further.”
Jonathan Blood, director at Wareing & Company, added: “It is rare for a property to be up for sale on Leamington’s Parade as opposed to a rental opportunity, and we’re delighted that Dougall Group has purchased the building.
“We had strong hopes for the site due to its enviable location on one of the busiest streets in the town in terms of footfall.
“This latest deal once again shows the strength of Leamington’s retail market compared to towns of similar sizes.”
