Following an intervention by the Council to help the High Street and to address to issue of boarded up shop fronts, the old Woolies store in the centre of town is to be converted into two new retail units, in what is thought to be the biggest retail letting in Hertfordshire in the last 12 months!
The council bought the empty Woolies building in Charter Place last year, recognising that it was a key site for the area and have now secured agreements to split the site into two new retail units. One for Peacocks, the clothes retailer who will take the left hand side of the ground floor, while the other side and the first floor are going to Life & Style, a mixed offer store, who trade under a number of different brands in a 600-strong store line up throughout the UK and who will be a new outlet in Watford.
We understand that there is further good news in that since the Council bought the site the value of the property has increased, so the people of Watford have got a good deal!
As the landlord, the Council have commenced construction works to get the building ready for the new tenants to move in around mid to late July and following fit out the stores should be ready to commence trading at the end of September.
One of the conditions of the new tenancies is that all three entrances to the shops be re-opened, allowing access through the High Street and Charter Place and thereby encouraging footfall in those areas.