News
NewRiver enters joint venture agreement to deliver Sussex shopping centre regeneration
11th December 2025NewRiver REIT and Mid Sussex District Council have formed a conditional agreement to create a joint venture, with the aim of regenerating of The Martlets Shopping Centre in Burgess Hill, Mid Sussex. The two parties will look to transform the 1970s-era shopping centre into a modern and vibrant retail and leisure destination in the heart of the town, creating new homes and jobs. The proposed development has planning consent to deliver 50,000 sq ft of new retail, including a 21,000 sq ft food store, as well as 172 new homes and a 102-room hotel. The joint venture will be formalised once a number of conditions have been met, including the sale of the residential site which is under offer, and pre-lets of the food store and hotel for which the legal negotiations are well advanced. It is anticipated that the conditions of the agreement will be satisfied by the end of March 2026, with construction due to commence summer 2026 and completing in 2028. Allan Lockhart, chief executive at NewRiver, said: “This conditional agreement represents a major milestone for the delivery of a flagship town centre regeneration and the creation of a high impact and transformative partnership. We have worked […]
Deals
M Core cuts voids at Glasgow’s Princes Square from 17 to one in under a year
8th December 2025Voids at Princes Square in Glasgow have fallen from 17 to one in under a year following its acquisition by property collective M Core. M Core said this progress reflects a wider repositioning strategy focused on attracting design-led, values-driven brands and restoring the centre’s status as a distinctive retail and dining destination in the heart of the city. Since acquiring the scheme last year, M Core has introduced a new leasing strategy centred on premium fashion, contemporary dining, independent operators, and all-day experiences. The most recent opening is Anthropologie, which has launched a 4,465 sq ft store, while Princes Square has also welcomed wine bar Cuvée, which has opened its fourth venue in Units 6–9. In the summer, The Delphine opened in Units 1–2, taking 3,051 sq ft on a 21-year lease and adding to the centre’s dining community. This was followed by the launch of all-day dining concept Café 1780 in Unit C, which took at 15-year lease. The latest signing at Princes Square is ethical fashion brand Omnes, which has taken 4,622 sq ft at Unit 54. Savills acted for the landlord and the tenant in this deal. Alex Williams, head of Scotland at LCP UK, part of […]
Requirements
M&S expands search for new sites as it looks to double size of food business
25th November 2025Marks & Spencer has expanded its search for new properties as the retailer aims to double the size of its food business. The retailer has launched a list of 500 new target locations across the UK it is considering for new and renewed food stores. M&S is looking for highly visible and accessible sites across the UK that are capable of delivering trading space of 18,000 sq ft. Within the M25, the retailer is targeting prominent sites in all areas that benefit from strong public transport links, steady footfall throughout the week, and are capable of delivering M&S food halls with trading space of between 6,000 sq ft and 18,000 sq ft. This comes as M&S prepares to open 20 new or renewed stores between November and March. All of these stores will be in M&S’s new renewal format, which offers an extended range of M&S Food, wider aisles, and larger car parks. Target locations include areas where there is not yet an M&S store such as Hove, Marlborough and Wallingford. Alex Freudmann managing director of M&S Food said: “The strong performance of our new M&S food stores gives us the confidence to explore even more locations across the UK, from […]
Insights
Modern leasing in retail real estate: observations from an award-winning dealmaker
3rd December 2025Leasing space to retailers and F&B operators has always been a dialogue of selling. Marrying up demand from brands with available units in a process of approach, presentation, handling objections and closing. In the past deals were linear and went step by step from agreeing heads of terms into instructing legals and ending with signed documents and exchange.
News
Railpen’s 1 million sq ft Cambridge Beehive plans green lit by Secretary of State
10th December 2025Railpen’s proposals to develop Beehive, a 1 million sq ft lab-led mixed use scheme in Cambridge, have been green lit by the Rt Hon Steve Reed OBE, the Secretary of State for Housing, Communities, and Local Government. Currently a retail park, Railpen plans to transform Beehive into a world-class innovation park which features workspaces for technology businesses, laboratories for research, a new community park, a youth and community hub, a science centre, alongside around 20 new shops, restaurants and cafés. Major public transport upgrades are also a part of the plans, with the objective to remove more than 10,000 cars from local roads. Railpen said the development would provide a number of benefits to the surrounding area, including an uplift in employment, a £600m boost to gross value added, and an increase in tex revenues and business rates. The planning consent will also facilitate Railpen’s plans to upgrade the neighbouring Cambridge Retail Park, where an improvements programme has been developed that will look to bring significant benefits to retailers and the local community, including the relocation of retailers. The first phase has recently been completed with the creation of a new Starbucks. Andy Bord, chief executive officer of Railpen, said: […]
