Retail parade is maxed out
A retail parade is operating at 100 per cent occupancy rate, with plans for developments nearby.
In the last few months, three deals have been struck for businesses to move into Northumberland Park in Shiremoor.
The scheme, anchored by a 25,000sq ft Sainsbury’s store, has recently welcomed Card Factory, Heron Frozen Foods and bakery chain Cooplands.
The three deals were brokered by joint agents Barker Proudlove and Savills on behalf of Northumberland Estates.
Anthony Cape, asset manager at Northumberland Estates, said: “We are delighted to welcome three well-known retail brands to Northumberland Park. Shiremoor and the surrounding area is an increasingly desirable residential location.”
He added: “There are currently around 750 homes under construction in the immediate vicinity of Northumberland Park.
“As a consequence, the retail parade is proving to be a very popular choice for a wide range of retailers, as well as leisure operators, so it is excellent to see that our long-standing confidence in the area is paying off.”
The existing retail parade at Northumberland Park, which is also home to Subway and Franks Flooring, was extended earlier this year to help accommodate additional occupiers as a result of growing demand for retail amenities in the area.
To the west of Sainsburys, Northumberland Estates has been making significant progress on further expansion of the retail park, close to the existing Toby Carvery.
A new Aldi and drive through Costa were officially completed and Northumberland Estates says it is in advanced discussions with further occupiers about development opportunities.