Stockport makes town centre property investment
0A former BHS store is set to be taken over by a council in a bid to drive local regeneration.
Stockport Metropolitan Borough Council has committed to buying a retail unit currently let to discount chain Poundland and Optical Express.
The property had been targeted for purchase by the council in December 2017. It accepted that high street retailers are under pressure but an opportunity has been created by the exit of institutional investors, the rise of rent-only agreements on smaller units and a move to short-term lets.
A report to councillors said: “The market is seeing an increase in the popularity of ‘pop-ups’ or temporary stores for retailers.”
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