Latest Business: Independent’s day
North Laine Traders are the city’s unsung heroes, says Andrew Algar
Latest Homes asked retail agent Andy Algar of Oakley Commercial to reflect on why the North Laine seems to have escaped the blight of empty shops, in comparison to other parts of town.
Andy pointed out ‘‘While many big name city centre retailers have struggled to make ends meet in recent months, the demand for retail premises in the North Laine district of Brighton is bizarrely on the increase!
‘‘The North Laine area works on many levels and we have to remember it is known to both tourists and locals for its quirkiness, cosy cafes, retro retailers, university population, theatrical crowd and metropolitan commuters.
The North Laine is considered by most to be Brighton’s Bohemian quarter, where all trends, fashions and artistic expressions are freely expressed and encouraged by all stakeholders in the area.
‘‘There is a plethora of independent traders, small workshops and hidden offices which provide a village ambience like no other.
‘‘The popularity is in part due to the fact that shop rents are affordable to small traders and new businesses alike. Although leases still command good premiums, the trend of charging heavy amounts of key money has greatly diminished from the heady heights of a few years back, so shops are becoming more accessible to new businesses in these more economically challenging times.
“The North Laine area works on many levels and we have to remember it is known to both tourists and locals for its quirkiness”
‘‘The retail offer of the North Laine area is also now well balanced as the larger multiple restaurant traders have seen its potential, firstly with the development of Argus Lofts where we let to Wagamamas in 2005 and then the growth around Jubilee Square through 2007/8. The Jubilee development has taken a little while to fill up, but now seems to be firing just about on all cylinders. There are still one or two empty retail units but with the recent opening of the restaurant Giraffe, this area has created a really vibrant focal point for the city.
‘‘Ultimately, I hope the North Laine retains its charm and doesn’t bow to the pressure of multiple traders, the one protection from this is that many of the shops are too small for multiples, which keeps them out!
‘‘It is great to see that in an area sensitive to conservation and local history, the North Laine has managed to retain its village charm yet at the same time transform itself into a modern, progressive 21st century destination for all to enjoy!’’
Further information available from: Andrew Algar, Oakley Commercial 01273 688882.
