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, whch 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.