World Foods closes amidst concern for The Square
Published on: 15 Nov 2017
WORLD Foods in Cheswick is closing amidst concern that rental rates are failing to encourage businesses to operate in The Square.
Residents have also taken to social media to voice concerns that The Square' risks becoming run down if the empty units are not filled soon.
As Filtonvoice went to press, there were several units vacant as well as World Foods.
The owners of WorldFoods told Filtonvoice: "We are closing due to poor trading conditions at The Square. The footfall is close to nothing due to other units being empty."
Other residents say:
- The shops on offer haven't been open at the right times
- Prices are too high
- Empty units discourage people from shopping
- Some residents may prefer larger stores like Asda for their lower prices
- Rents are too high
- The units are too big
On Facebook, there were calls for owners Balfour Beatty and agents Alder King to reduce rents to try to fill up the units.
A Balfour Beatty spokesperson said: "We can confirm that World Foods will unfortunately no longer trade at The Square in Cheswick. We continually monitor the cost of our retail units to ensure prices are in line with standard market value.
"Since completion in 2015, nine of the available units have been leased and are in working operation.
"We will work closely with our letting agents, Alder King and Insight, to seek new tenants for the remaining vacant units and we are currently in negotiations with a variety of retailers to secure the outstanding sites as soon as possible.
In January, Filtonvoice reported that agent Alder King 'had strong interest in Unit 14, and are currently in negotiation with an interested party for Units 1, 2 and 3'.