Stoford Retail in Coventry Parade
Birmingham-based Stoford Developments has fully justified the launch of its new retail division by turning a run-down parade in Coventry into a thriving neighbourhood shopping centre.
The developer’s £500,000 redevelopment and re-letting of 8,600 sq ft Ernesford Grange at Quorn Way in Binley, just two miles from the city centre, is the latest project from Stoford Retail.
Stoford worked closely with Coventry City Council to revamp a vacant Kwik-Save store and incorporate a new 4,000 sq ft Tesco Express on a re-geared lease, as well as attract a new 1,400 sq ft Domino’s Pizza and a 1,300 sq ft Ladbrokes to fill adjacent space.
With Boots the Chemist, Dare Beauty Salon and Fish & Chips also included in the parade, only one unit along with a newly refurbished 1,400 sq ft office remain to be let to create a desirable mixed-use scheme.
Carl Stacey, a director of Stoford Retail, said that the company bought the centre in early 2007 at a time when it was in such a poor state that local people were not even able to buy a bottle of milk or a newspaper there.
He said: “It wasn’t just a case of throwing money at a failing retail scheme – Ernesford Grange had the right potential for redevelopment.
“Our market research showed that by making quality improvements and providing units of the right size and brands for the area, and good car parking, the scheme could be successful.”
He added: “We recognised that the precinct’s 7,000 sq ft Kwik Save had failed because it was too big, so we split the space into three, creating just the size Tesco wanted and two smaller units.”
With the Tesco and Ladbrokes now open and Domino’s Pizza being fitted out, Ernesford Grange is winning back its trade, with many people who had been travelling into town now choosing to shop on their doorstep.
Stuart Taylor, Area Manager for Ladbrokes, commented: “Ernesford Grange has added to our growing representation in Coventry. Business has got off to a good start for our new shop as its attractive location alongside other neighbourhood stores has provided a convenient one-stop-shopping experience for local residents.”
