Market demand behind decisions to split up bigger shop units, Sorbon Estates boss says

The managing director of Sorbon Estates has explained that market demand is behind decisions to split up large retail units in Maidenhead town centre.

The commercial property company, part of the Shanly Group, has a vast portfolio of units in Maidenhead town centre, including the Waterside Quarter and several High Street properties.

Over the past year, the company has submitted applications to the Royal Borough to subdivide large shops into smaller units, such as at the former Poundland site and the Sports Direct unit, both on the High Street.

Katherine Croom, the company's managing director,  told the Advertiser this is part of a long-term retail strategy to ensure the high street ‘remains vibrant’ and is ‘relevant for the community’.  

To do this, it is ‘important’ to attract ‘the right mix of businesses’, Ms Croom said.  

“It means that we really think hard about the retailers that we put into our shops," she added.  

“It means that we’re open to supporting independent retailers, as well as doing deals with the national chains, because that’s really important as well."

Last year, Sorbon had an application approved to redevelop the former Poundland unit to provide six flats on the upper floors and three commercial units on the ground floor.  

This summer, the company also had an application approved to split the Sports Direct unit into four separate, smaller units.  

Ms Croom said the site housing Sports Direct is ‘quite a recent acquisition’ and was purchased because it is a ‘landmark building, in a really prominent location’.  

She added: “It sort of links Waterside Quarter and that end of town with the High Street, and strengthening that link is something that we see as being really important.” 

“The building dates back to 2007, and we thought, in its existing form, it needs a bit of a refresh. 

“So, to actually take the town centre forward, and that particular streetscape, we thought that if we could make that shopfront more attractive, then that would help that.” 

Ms Croom explained that market demand underpins the reasons to split up larger units.

She said: “Really, we just think that’s where the market demand would be. 

“So, clearly when you have bigger units – more money, fewer people – there’s less of a market. 

“So, when you split it, there’s more people, more potential occupiers.  

“[It] opens it up to independents, as well as national chains. You get a more varied streetscape.”

Referring to the Sports Direct site, Ms Croom added: “That could change in the future as well, it could be two units. We might have to put another planning application in.”

Ms Croom explained that Sorbon has a ‘great, positive relationship’ with Sports Direct, which traces its roots back to Maidenhead when its first store was opened by Mike Ashley in 1982.

She said that the sports retailer could choose to stay and renew their lease, but this will be ‘sometime in the future anyway’.  

“We just like to have a long-term vision sorted and flexibility in case existing occupiers don’t renew their leases.” Ms Croom said.  

Another part of Sorbon’s retail vision focuses on the look of the shopfront.  

“Our vision is also that if you create a nice shopfront, suitable for that building, and then you create a nice shop, then you’ll get a better tenant."

A ‘completely new shopfront’ has been created at the former Poundland site, Ms Croom said.

“A timber shopfront is quite traditional, and we think that just makes that part of the High Street look so much better.” 

Greeting card firm Card Factory is hoping to move into one of the units at the Poundland site, after leaving the Nicholsons Centre.

Ms Croom said Card Factory is ‘really popular’ and will ‘drive footfall’. 

“I think it’s really good that we can secure them for a long-term lease on the High Street,” she added.  

The third unit at the back of the site, facing West Street, has not yet been let and is still open to enquiries.  

Ms Croom said Sorbon has ‘some’ clothing shops in its portfolio but added that the fashion retail market ‘is not that acquisitive’. 

She added that Sorbon ‘certainly would be open to discussions’ with any of the current Nicholsons Centre tenants, who will need to move out if the town centre redevelopment is given the go-ahead.