Picton Capital has completed the final two lettings at its popular Birmingham leisure scheme Regency Wharf, adding to the city’s growing dining and entertainment offer.
American-style restaurant Rub Smokehouse will occupy a 7,500 sq ft “sky bar” unit within the development, paying a rental rate of £9.25 per sq ft on a 15 year lease. The unit offers an impressive array of amenities including a private entrance from Broad Street, a fully fitted bar and two private lifts, and will offer customers of the Rub Smokehouse stunning views over Birmingham’s canal towards The Mailbox.
Karaoke cocktail bar Karaoke Box, meanwhile, has also signed a 15 year lease on 5,500 sq ft courtyard unit paying £14.50 per sq ft for its first UK venue outside of Central London. Again, the unit has a number of existing features ideal for the incoming tenants, and will offer the added bonus of having external seating in the courtyard – something which may prove highly advantageous in terms of capacity.
Picton Capital recently launched a major investment drive into the Regency Wharf development. This, it hopes, will allow the site to be repositioned as a premier leisure destination within Birmingham, taking advantage of the high footfall level on the city’s Broad Street to attract local consumers.
Senior asset manager at Picton Capital, Laurence Jones, believes the new lettings will blend well with the existing tenant mix at the scheme.
He says; “With Karaoke Box and Rub Smokehouse now signed, Regency Wharf is on track to reach its full potential.
“The impressive changes to the built environment and excellent new additions to the occupier line up, should ensure the estate becomes an increasingly popular destination in Birmingham’s busy restaurant and leisure market.”
Rub Smokehouse and Karaoke Box will join existing tenants such as Blue Mango, Jimmy Spices and La Tasca at the Regency Wharf development, thereby continuing in Picton Capital’s efforts to diversify the tenant mix in order to provide a wide range of choice for consumers. The speed at which the development became fully let is impressive even in today’s market, and is largely thanks to the work put in by agents at Bilfinger GVA and Wright Silverwood, who advised Picton Capital on the lettings.
Yet it is not only in the development’s units that consumers will be treated to a wide range of leisure and entertainment options, as a regular street food market organised by the Scoff Street Food Collective is set to become a popular feature. With circus performers, DJs and musicians all set to participate in the upcoming events, it seems that Birmingham is truly living up to its growing reputation as a top location for leisure and entertainment.
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