Interest in former Wilko and other Stamford retail units reveal strength of local economy

Retailers and shoppers seem to have high confidence in Stamford, according to the director of a commercial property firm.

Gavin Hynes from Eddisons is seeing empty units in the town centre attract good levels of interest, with few remaining empty for long.

This is in contrast to 18 months ago, when M&Co in Stamford High Street was empty for months with its intruder alarm sounding at regular intervals, and the old Jaeger shop was vacant for many weeks in St Mary’s Street.

Eddisons has been responsible for finding businesses to fill another sizeable building - the former Wilko in Stamford High Street - and says national retailers are now lined up to move into the two available units.

A local business owner had shown interest in one of them initially, but has since changed their mind.

Gavin said: “The building work that’s going on in the old Wilko at the moment is due to be finished in the next few weeks and, having had three proposals from three national retailers, a decision will be made soon.”

He added that a business to occupy one of the two units has been agreed, and it has 160 shops around the UK but not one in Stamford. Although Gavin cannot disclose the retailer’s name, he suggested it is ‘foody’.

“These are national retailers that are not already in Stamford and those moving in are likely to be able to open in April or May-time. The building is looking great and this is very positive for the town.

“Occupancy levels for retail are high in Stamford, although we don’t need to look too far away to see levels that are very different from those here.

“If retail units are occupied, people want to come into town to shop. When this drops off and you have perhaps 20% of units vacant, fewer people want to visit.”

As an example of how buoyant Stamford’s retail economy is, Gavin said quite a bit of interest has already been shown in the Stamford Walk unit occupied by the Etta For Women lingerie shop, which has just closed.

“Other than the former Wilko in High Street, there are very few empty units in Stamford,” he added. “There’s nothing this week in Ironmonger Street, Broad Street, St Mary’s Hill or St Mary’s Street.”

What would you like to open in Stamford? Leave your ideas in the comments.