Paradise Forum newsagent Newsflow has bucked the retail downturn and announced a move to larger premises.
Less than 18 months after opening the 640 sq ft Newsflow store at Paradise Forum, owner Pally Mahal has doubled the projected turnover of the business and signed a lease to relocate to 2,800 sq ft premises in the popular thoroughfare between the east and west of the city.
The new premises will be reopened this month as a SPAR franchise, building upon the success of Newsflow with a wider range of convenience products from take-away snacks and hot beverages to magazines and stationery.
“Newsflow has proven a huge success in Paradise Forum, so much so that the current store can simply no longer cope with the thousands of customers we are serving every day,” Mr Mahal said.
“The new premises offer a fantastic opportunity to expand our offering within Paradise Forum and better meet the requirements of our customers by offering SPAR’s wider range of stock and customer promotions.
“The success of Newsflow over the past 18 months clearly demonstrates that the retail market is not all doom and gloom at the moment and that, by making the right choices in terms of location and product lines, Birmingham businesses can trade successfully.
“Both SPAR and [landlords] Argent have been extremely supportive and I’m confident that, by providing even greater choice to my customers, that this store will prove even more successful than Newsflow.”
Following the completion of a £2 million refurbishment in 2006, Paradise Forum attracts a footfall of 30,000 visitors per day, passing through its array of eateries and convenience services.
Ross Fittall, of Argent, said: “The success of Newsflow is a fantastic example of a local business successfully identifying a niche in the market and thriving despite the current difficult market conditions.
“Newsflow fast became the most popular stopping point for commuters and visitors passing through Paradise Forum and relocating to larger premises in the centre of the precinct will allow Pally to better meet consumer demand.
“The expanded offering of SPAR’s convenience products is sure to provide an even greater draw to customers and, as such, I’m confident the business will continue to go from strength to strength,” Mr Fittall added.
Paradise Forum is located adjacent to the city’s Central Library, fronting on to Chamberlain Square with neighbouring buildings including Birmingham Museum and Art Gallery and the Town Hall.
It is within a five-minute walk of both New Street and Snow Hill stations and is only ten minutes from Birmingham city centre’s flagship Bullring shopping development.
Travelling westwards through Centenary Square, the International Convention Centre, the National Indoor Arena and Brindleyplace are only a few minutes away.
The thoroughfare attracts an average footfall of more than 11 million people every year.