Rent increase shows Burnley town centre is top
BURNLEY’s shopping centre is leading the way in the north west, according to a new survey.
Real estate advisors Colliers International has found that Charter Walk was seeing the biggest increase in terms of rent price rises.
The news has been welcomed by council chiefs and centre bosses, with more good news as another major retailer is set to move in.
Coun Shah Hussain, Burnley Council’s executive member responsible for the town centre, said the study provided ‘further evidence’ that the town was on the up.
“This is excellent news. Burnley is performing well when it comes to getting shoppers into our shops,” he said.
“We have a strong shopping centre that attracts visitors from a wide area. We’ve seen major investment by Addington Capital, the asset managers of Charter Walk, to redevelop the centre and national High Street names Next and River Island have increased the size of their stores to meet demand.
“Together with plans to redevelop the St James Street area, all this shows that Burnley is a thriving shopping centre with a bright future, and is well worth a visit.”
Colliers International found that retail rents across the North West were down for the fourth year. But in Burnley, rents had risen seven per cent, or £5, to £80 per square foot.
Charter Walk said the empty unit next to River Island could soon be filled by another national fashion retailer.