Salmon Harvester Opportunity Fund (SHOF) has agreed a deal with Starbucks at Cathedral Square in Worcester and simultaneously completed the largest single floor plate office letting in the city for 20 years with Harrison Clark Rickerbys.
Solicitors Harrison Clark Rickerbys, has signed a 15 year lease, with 5 yearly rent reviews and 6 months rent free, for 950 m² (10,225 ft²) on the second floor of 15 High Street. The tenant is paying c. €128,242 (£112,000) per annum and has taken space previously occupied by Slaters Menswear, which has been converted to Grade A office space as part of the c. €23m (£20m) redevelopment of Cathedral Square. Harrison Clark Rickerbys has more than 450 staff and 6 offices based across the midlands and south of England, with its heart in the 3 Counties.
Starbucks has agreed terms for a prominent 139 m² (1,500 ft²) unit on the ground floor, at the entrance to Cathedral Square. Subject to agreement with the City Council, the unit will also benefit from an outside seating area overlooking the Cathedral.
Cathedral Square reached practical completion last month and has been handed over to tenants for fit out, prior to a grand opening on the 29th July. The development is now over 95% pre-let with one unit of 3,500 ft² remaining. The new line up also includes Ask, All Bar One, Byron Hamburgers, Cosy Club, Miller and Carter, Fitness4Less, Yo! Sushi, Kung Fu, Starbucks and Wilko.
Nick Webb of SHOF comments, “Starbucks complements our new line up perfectly and the deal with Harrison Clark Rickerbys secures a major employer in Worcester city centre. This redevelopment brings 10,000 m² of floor space back into use, redefines the retail and leisure pitch in Worcester and brings much needed regeneration to this part of the city centre.”
David Blake, Managing Director at Worcester City Council added, “The new look Cathedral Square will be a fantastic leisure and shopping destination for Worcester city centre. Securing the presence of a top law firm like Harrison Clark Rickerbys and the international brand Starbucks, is the icing on the cake for this major boost to our city’s economy.”
