North Point Shopping Centre is the same as any retail environment - it is always vulnerable to the changing world of the high street. The difference with Hull’s North Point, however, is the community’s pride in its local shopping facility, and the visionary management that continues to drive the centre’s success.
When presented with a challenge in 2017, not only was a solution found by the FIREM management team, but an opportunity identified to nurture the site further.
In January 2017, the tenant of a 22,000 sq ft retail unit at North Point Shopping Centre went into administration. The unit, previously used as a convenience store, was located on the most prominent eastern entrance of the centre.
The FIREM team identified that there was little consumer demand to support another convenience store of such size in the centre, and therefore set about preparing an asset management strategy to create new uses for the space.
Rob Melling, asset manager of North Point Shopping Centre, commented: “North Point prides itself on being at the heart of the community so when considering how we should transform this space, we had to keep this fact at the forefront of our minds. To deliver what the community really wanted, dividing the space was the most logical step.”
The FIREM Treatment
After undertaking consumer research, the asset management team began engaging with local companies to deliver the key services that the centre was missing.
FIREM began by teaming up with not-for-profit arts organisation - Back to Ours, new discount retailer - One Below, then later local Hull based gym operator, Planet Gym; which opened its brand new, 9,750 square foot leisure facility in January 2020.
North Point now has One Below in circa 6,500 square foot offering fantastic value for money, with the team working closely with the organisation to not only provide them with the perfect space to trade successfully, but support to reach its target audience in the Hull community. One Below opened in July 2019 and has now been trading successfully for over a year.
Fast forward to 2020 and there is now only 3,300 square foot of space available for let. FIREM’s team is now seeking a children’s soft play centre operator that can respond to the growing demand for this type of facility in the heart of Bransholme.
Planet Gym, which opened in January 2020, had a fantastic launch before hitting the Covid-19 road bump like many businesses. Due to the fact that the property was brand new, and had not been registered with the VOA, the tenant struggled to secure a necessary £25,000 government grant. FIREM worked closely with the tenant and its dedicated business rates team to help the firm claim a full grant as soon as possible.
Rob Melling continued: “Planet Gym typifies our role as an asset management, which doesn’t end when the tenant moves in. We will always continue to support and react to the changing world around us, assisting where required. We’re now eager to welcome the last tenant to this transforming unit and know there will be many happy shoppers keen to take advantage of a new child-orientated offering.”
From individual units, to large shopping malls, the commercial properties FIREM oversees covers 1 Million sq ft. across the UK. If you think our team can support you and your business, get in touch with us today.