One of Britain’s oldest prestige watch company’s is about to more than double the size of its Birmingham store.
Watches of Switzerland — which has established a 15 showroom network in its 91-year history — has been selling upmarket Swiss timepieces from its 1,572 sq ft store at its 124 New Street premises since 1995. It has now signed a deal to acquire the neighbouring 2,623 sq ft property at 122 New Street to create a new state-of-the-art showroom.
Aurum Group, the retailer’s parent company, has negotiated a 10-year lease on the combined premises at an annual rent of £372,500 from the site’s owner, Hortons’ Estate.
The additional space is currently occupied by a branch the national footwear chain, Jones Bootmaker, which is allowing its lease to expire this year and moving to a new store in Birmingham’s Bullring.
“New Street’s retail scene is undeniably benefiting from the station upgrade and imminent arrival of John Lewis and Metro,” explained Steve Tommy, a commercial surveyor with Hortons’ Estate. “Retailers have seen a dramatic increase in footfall and we have noticed a marked increase in enquiries for space in the area.”
In addition to 122 and 124 New Street, Hortons’ owns 128 New Street, the Burlington Hotel which incorporates retail units opening from the hotel on to New Street, Stephenson Street and Lower Temple Street. It also owns the city’s Piccadilly Arcade.
Founded in 1924, Watches of Switzerland is Britain’s largest authorised dealerships of Swiss brands with two dedicated Rolex and Jaeger-LeCoultre boutiques. As well as selling timepieces such as Rolex, Raymond Weil, Omega and Breitling, the stores provide timepiece servicing, engraving and valuation advice.
Source: Watches of Switzerland Press Release
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