QD Stores officially confirms closure due to ‘commercially unviable’ rent position

QD Store on Strait Bargate. EMN-160508-111812001
QD Store on Strait Bargate. EMN-160508-111812001

QD Stores has officially confirmed it is to close its Boston store - with its head office saying that it was unable to meet the landlord on a ‘commercially viable’ fresh rent position.

A spokesman for the business, which has been in the Strait Bargate property since July 2009, said: “We came up to negotiate a fresh rent position with the landlord and unfortunately were not able to come up with a commercially viable solution.”

They said: “We did present some proposals to the landlord but frankly they turned them down.”

It is understood 12 staff will be affected by the closure, however, the spokesman added that where possible they would ‘try to relocate personel within the group’.

The spokesman confirmed that Boston had been ‘increasingly challenging as a retail environment to trade in’, but said this was reflected nationally, where the business had seen a decline in footfall and income.

They did however say that QD ‘remains committed to the high street’ and would be looking for alternative premises, adding: “We would be open to negotiating with landlords that are willing to work with us.”

The news comes after Clarks shoe shop confirmed it would be closing its branch in the same part of town.

The premises occupied by QD has also been advertised for some time on both RightMove and Poyntons Consultancy’s website at a retail price of £195,000 per annum or £16,250 per calendar month.

A document on the website, which is accessible simply by clicking a link reading ‘particulars’ is headed ‘Confidential Instructions - Staff Unaware’

It details the store as ‘Prime Retail Property’, of a size of 14.200sqft, 1,372sqm retail space with a first floor suitable for an additional 9,400sqft, 874sqm trading accommodation.

It describes how the property is in the centre of the ‘prime retail zone’ and lists nearby retailers including WH Smith, Peacocks, Vision Express, New Look, Next, Marks & Spencer and Santander Bank.

It promotes the town as ‘predicted of the fastest growing urban populations in the East Midland Region. Current estimates predict the population to be in the region of 68,000 residents’.

The document also states: “It is known as a sub regional shopping centre with approximately 100,000m2 of retail shopping space. The town has an estimated primary retail catchment area of 77,000 shoppers, which increases to 235,000 shoppers when combined with the secondary area.”

It says the property has a rateable value of £186,000 - just £6,000 below the asking price.

Poynton’s which is advertising the property online has been contacted to see if either it or the landlord would like to comment on QD’s reasons.