High Street Update
Paramount Ltd, the company that owns Brasserie Gerard and other recognisable names such as Cafe Uno went into administration on 23rd of November 2011 and the company has now closed restaurants including the brasserie in Teddington.
Restaurant sites are being snapped up by companies including Brasserie Blanc. It is believed however that talks have been underway with Carluccios to take on this premises – more news once this is confirmed.
On Kingston Road, the ever-increasing threat of online movie streaming and rental by post has almost certainly been the cause of Moonlight Movies closing down – a sale is currently helping owners sell any remaining stock of movies and fireworks. On Stanley Road a lawnmower seller has taken residence in the ex-tattoo shop so head over there if you are looking to get the lawn in order for spring.
The latest estimates from Travelodge for the opening date of their new hotel is May 2012 – recently the building changed hands £9.4 million on the basis of Travelodge’s 25 year lease and income from roof-mounted phone masts. Fielding Gould has now closed to pave the way for Hamptons International to move in. In pub news, the leasehold for The Hogarth is currently up for sale by owners Fullers.
The January Sales are well upon us – every other shop seems to have a sale sign in the window and big discounts are available. This comes amidst news of supermarkets biggest ever store opening plans in history (could be 50% more trading space created) will only increase the threat to our high streets in the UK.
Richmond has however been named one of the most likely borough’s to bounce back from the recession due to support for local businesses.
Councillor Fleming (cabinet member for community, business and culture) has praised recent initiatives including the creation of the business and retail champion post, Christmas lights investing and help with parking from the RichmondCard and removal of yellow lines in town centres. Although Richmond is in a better position than some, we should all keep supporting our local businesses to help them in these difficult economic times.
Local retail specialist Philip Downer has posted his thoughts on Mary Portas’s high street report here with his take on the recommendations.
