Newsteer re-let the former Pizza Express unit at Coventry Arena Shopping Park to Starbucks following a targeted marketing campaign and competitive bidding process.
The client’s challenge
The client needed to reposition a vacant restaurant unit and secure a strong occupier capable of supporting the wider retail park offer.
Our solution
Newsteer targeted relevant operators, generated significant interest, managed competitive bidding, selected a preferred party and negotiated heads of terms for a new lease.
Beyond advice: how we added value
Rather than accepting the first viable enquiry, the team used competitive tension to test demand and secure a high-quality occupier aligned with the asset’s positioning.
Outcomes and impact
A new lease was agreed with Starbucks, bringing an established international brand into the former Pizza Express unit.
