Leeds, 25 October 2010 – A team effort from 3 divisions of CB Richard Ellis in Leeds has facilitated the opening this month of an Evans Cycles Leeds store at No 3 The Bourse, the vacant former site of Room restaurant on New Station Street.

Evans Cycles, who is the UK’s largest specialist cycle retailer with additional regional stores at York and Xscape in Castleford, has signed a 15 year lease for the 5,516 sq ft unit. DTZ represented Evans Cycles and Pudney Shuttleworth acted for landlord, Bourse Realty.

Acting on behalf of Bourse Realty, the Planning team at CBRE successfully overcame challenging planning restrictions due to the unit being classified as just outside of the core retail area by highlighting the positive implications of retail use at this central location close to Leeds Train Station. As a result, planning permission was secured to bring the vacant unit back to life as a retail outlet, creating jobs and bringing investment into the town centre in addition to broadening the town’s retail offering.

To assist with marketing the retail unit, the Rating division of CBRE then negotiated a reduction to the 2010 Rating List which minimised the landlord’s empty rates burden and enabled future occupiers to face a reduced rates liability of some 25%. Subsequently, the Building Consultancy team project managed the refurbishment of the frontage to the Grade 11 listed building. The new store will be open for business by the end of October.

James Podesta, Associate Director of Planning at CBRE, said; “The new Evans Cycles store has brought a redundant unit back into occupation and further enhances the existing retail offering within Leeds. We are delighted to have overcome the planning issues to facilitate this new store and have worked closely with our colleagues to ensure its smooth delivery.”

David Thompson, Director of Retail Agency at DTZ, said; “Evans Cycles was looking for a central Leeds location to fulfill a city centre requirement and compliment their existing Castleford store.”

Director of Pudney Shuttleworth, Richard Shuttleworth, commented; “This is the latest in a series of recent retail and leisure lettings we have secured in Leeds city centre over recent weeks and as such demonstrates the city’s resilience, signalling positive news for the region’s retail sector.”