Cool Britannia Ltd, a popular souvenir shop with tourists, has seen off strong competition for a prime retail location on King’s Parade in Cambridge, in a deal brokered by Cheffins’ commercial department.

The company, which is currently based on Market Square, successfully bid for the lease which is for a term of 10 years at a rental of £56,500 per annum.

The sale signals an end of an era for popular and long-standing Cambridge retailer, The Lawson Gallery, whose owner Lucinda Lawson is retiring from the trade to pursue other interests.

Cheffins commercial director Ed Dodson expected strong interest for this sought-after retail spot, but said he was “blown away” by the response after only a short period of marketing.

He said: “Whilst we expected the Kings Parade position opposite Kings College to generate good interest we were blown away by the quality of the retailers and the number and level of the offers, the majority of which were well above the quoting level of £50,000.”

The new owners will continue to trade under The Lawson Gallery name when they move to the unit in the near future and it will be rebranded in due course.

Roi Vieitez Rodriguez, local manager for Cool Britannia, commented: “We are delighted to secure a new unit in Cambridge, particularly on Kings Parade, where we have been looking for quite some time. This is a fantastic unit, straight opposite King’s College, and we look forward to opening the new unit very soon.”