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Belgian Bar extends lease by five years but rent up by 38%

13 Sep 2022

The Belgian Bar has agreed to extend its rent on Greenwood Street by another five years – but at 38% more than the previous level. The five-yearly rent review on the popular bar, located opposite Altrincham Market, has been agreed with private landlord Platinum Events Limited.

The Belgian Bar has agreed to extend its rent on Greenwood Street by another five years – but at 38% more than the previous level.

The five-yearly rent review on the popular bar, located opposite Altrincham Market, has been agreed with private landlord Platinum Events Limited.

The rent on the three-storey property, which totals 1,060 sq ft in size, was up 38% on June 2021.

Daniel Lee, managing director of Regional Property Solutions, said: “The town’s commercial property market is holding its own with a steady level of enquiries for available office, retail and leisure space.

“This is reflected in the rental levels achieved, which have held or increased on the pre-covid rates which are also reflected in rent reviews and lease renewals being agreed by our property manager, Carol Rouse.”

Rent was also up at 44-46 Greenwood Street, currently vacant but most recently a diner.

The tenant is planning to open a flame grill restaurant at the premises later in the year.

Platinum Events also secured a 29% increase in agreeing a three-year deal.

The property comprises 1,724 sq ft over two floors.

Source: Altrincham Today

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