Market Leads & Opportunities
Fallback plan for Leamington branch of House of Fraser gets green light
Planning permission has been granted for a complex consisting of a gym and small cinema in case House of Fraser closes or moves its branch in Leamington.The plans, prepared on behalf of COREM Investment Management (COREM), are for a change of use of 76-86 the Parade which has been occupied by the department store for decades.The future of the House of Fraser branch is unclear after its parent company’s acquisition by Sports Direct which has agreed a short-term lease deal with the landlord while all parties consider their options.The plans include a gym, retail space , financial and professional services and a restaurant or cafe in the building’s basement.The ground floor would include retail, financial and professional services, a restaurant or cafe, an ancillary gym and an office.The first floor would include retail, financial and professional services and a restaurant or cafe and the second floor would be an office.They also include a cinema on the ground and first floors.The report refers to Warwick District Council’s Retail and Leisure Study published in July 2018, which identifies the closure of ‘major national multiples’ as a potential future threat to the vitality and viability of the town centre and and the importance of promoting incentives to increase footfall and dwell times.A public exhibition of the plans was held in November last year.
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