Stamps Electricals in Newland Avenue has relocated to nearby Cottingham Road, leaving its former building up for let with NT3.
He said: "We needed to do it. There's a lot of people down there we'll miss, but hopefully they will continue to come and see us.
The shop was set up by Ron Stamp in 1978 and was a family business until he retired.
Former employee Adrian took over the shop in 2008 and said Ron and son Ian Stamp have given their blessing for him to continue using the name.
Adrian said: "They are probably gutted but they'd both rather see the name carry on than see it die."
Adrian said: "A lot of people are saying they're disappointed, but we aren't the first to go."
According to Adrian the new Cottingham Road premises are larger with more storage space, on-site parking, and have lower rental costs.
The businessman said he hopes the Newland Avenue site will be taken over by another retail establishment to keep the avenue alive.