City Centre Retail

Ladbrokes on Park Lane (just off Queen Street) is up for rent. Seems a travesty that the Park Vaults made way for it, only for them to close.

Ladbrokes on Park Lane (just off Queen Street) is up for rent. Seems a travesty that the Park Vaults made way for it, only for them to close.

Ladbrokes and Betfred closing - is the betting shop tide retreating? Is there some new legislation or something that's causing this?

The William Hills on the Friary has also closed. Agree entirely that it's a travesty that the Park Vaults was closed for a Ladbrokes.

A sign the recession is over i think, that the betting shops are closing. now we should get more useful shops/businesses in them instead. great news

I don't think its a post-recession thing. I think its due to the higher tax, and stricter regulation on "fixed odds betting machines". A lot of the growth was not fueled by standard betting but by these betting machines that meant they became in effect mini casinos. The margins on these machines are much higher than usual betting, and with this profit stream curtailed, the expensive rents of city centre stores are less affordable.

People generally do gamble more when they have more income - which on its own would boost profitability of the units. So if it was a "post recession" thing, it would be because other uses were coming along and outbidding them for the units, rather than the betting offices shutting up shop. In such circumstances the units wouldn't be "to let" again - they'd be reoccupied by new uses virtually straight away (via lease assignment, or a break clause).

The bookmakers all had a fairly aggressive growth strategy. It there was a William Hill on a street, Ladbrokes would want a premises nearby. Someone once told me William Hill has/had a staff incentive scheme for anyone that could find a suitable premises near a competitor.

I think someone already posted that a coffee outlet under the name of Artigiano are opening up in the former Sportsworld store at the top of Queen St (in the 'oxidised copper' green coloured reclad building which is home to Schuh).... well, before Karl trumps me to it, I can also exclusively add that they are opening two in total - the other one is to the left of Barclays (opposite the lovely small enclosed park in the Hayes) in what was one of those permanently changing units (used to be a Christmas store amongst other things).

RE Artigiano on the Hayes, excellent news, I like that part of town.

Shame it's not somewhere near Ten Feet Tall. So many empty units around there.

While on the subject of empty units, hopefully when the redevelopment of the central station area takes place the mess of the botttom of St Mary street will be sorted out - loads of vacant old pubs and clubs that need sorting out.