News
M&S announces £50m investment into North West estate
2nd April 2025Marks & Spencer has announced that it will be investing £50m into its stores across the North West of England, adding 100,000 sq ft of additional space to its estate. The investment – which will be spread across the next three financial years – will see three stores in the North West renewed to the retailer’s latest format as well as the launch of five new stores. It forms part of M&S’s store renewal and rotation programme, which the retailer recently said is picking up pace with with renewed stores trading well. The first of the eight stores, located at Gemini Retail Park, Warrington, reopened last week with a new clothing, home, and beauty department, following the opening of a food hall in October last year. Meanwhile, the New Mersey Retail Park store in Speke is to move sites and undergo a transformation from a food hall into a full-line store, offering clothing, home, and beauty to customers in south Liverpool. M&S is also planning to open the doors to a brand-new food hall at The Point development in Formby, Merseyside. In Thornton-Cleveleys, Lancashire, M&S is planning to open a new food hall, pending planning permission. The investment will triple […]
Deals
Hanningtons Brighton fully let following pair of new signings
2nd April 2025The retail element of Redevco’s Hanningtons Brighton is now fully let after the signings of beauty brand Charlotte Tilbury and fragrance retailer Isle of Havalon. Charlotte Tilbury has taken a 2,000 sq ft unit on East Street on a 10-year lease while Isle of Havalon has signed a five-year lease for a 736 sq ft store at 1 Hanningtons Lane. The two deals are the final retail lettings at the 150,000 sq ft scheme. Claire Yeadon, asset manager at Redevco, said: “The lettings to Charlotte Tilbury and Isle of Avalon are the final pieces in the jigsaw for Hanningtons. Since acquiring Hanningtons ten years ago we have striven to create an exciting and sustainable tenant mix that brings a new dimension to this vibrant city. “In addition to major brands such as Watches of Switzerland, Lululemon, Oliver Bonas, Hotel Chocolat and recent lettings to PURESEOUL and Scamp & Dude we have a strong line up of independents such as &Halt, Bousham Gallery, Hugo & Green, The Fair Shop, Stanley Road Store and award-winning restaurant The Flint House.” GCW advised Redevco, whilst KLM Real Estate represented Charlotte Tilbury.
Requirements
FMX secures eight London sites for M&S food halls
20th March 2025FMX Urban Property Advisers has secured eight new sites in London on behalf of Marks & Spencer for its food hall concept. Over the last six months, the advisory group has secured sites for M&S in: FMX said: “With a number of other deals close to exchange this quarter, and several others in legals, we are continuously looking for the next tranche of openings. Whether these are leasehold, freehold, development opportunities, land parcels, high street, retail park, or standalone opportunities – we will consider them all!” M&S said towards the end of last year that it wanted to “go faster” with regards to store acquisitions. FMX encouraged any parties with locations suitable for new M&S food hall locations to speak to its team members David Justice, Henry Foreman, and Howard Quigley.
Insights
Fashion Week, a lesson for our high streets
3rd March 2025By Juliana Bentel, graduate surveyor at Lunson Mitchenall. I recently had the opportunity to attend Paris Fashion Week 2025, and with London Fashion Week 2025 now coming to a close, I’ve been reflecting on the insights the high street can gain from these major moments in the couture calendar. It is no secret that bricks-and-mortar retail has suffered since the pandemic, but there has been one saving grace for our high streets and shopping centres that online shopping cannot replicate – immersive and dynamic shopping experiences. Fashion Week exemplifies the importance of experiential retail and engaging with customers, offering more than just products on a shelf. These immersive and dynamic ways of presenting new collections are already influencing retail spaces and trends, and the high street would do well to pay close attention. Throughout Paris Fashion Week, I attended a range of shows, with each designer presenting their new collections in immersive and unexpected ways. From deconstructed ‘avant-garde’ to theatrical performances and storytelling, each designer tapped into the cultural identity of their consumer to shape both their runway presentations and retail strategies. Japanese designer Maison Mihara Yasuhiro’s show was a great example of this. Yasuhiro’s shows transformed the audience to […]
News
Coventry shopping centre placed on market with £9.2m asking price
2nd April 2025A shopping centre in Coventry has been placed on the market with an asking price of £9.22m, reflecting a net initial yield of 10.0%. Lower Precinct extends to 221,600 sq ft of retail floorspace across two levels, and is anchored by the likes of Flip Out, H&M, River Island, New Look, Home Bargains, and Superdrug. Other tenants at the shopping centre – which dominates the city’s retail provision – include Lush, Clarks, The Entertainer, F. Hinds, Caffè Nero, and Pandora. The scheme has recently been taken to full occupancy, with Flip Out and Putt Putt Social having opened in the ground and first floor of the former TJ Hughes unit in 2024. Additionally, the former Next store was reconfigured into four units in 2024 and is now home to Søstrene Grene, The Fragrance Shop, Cards Direct, and The Works. Rymans is another new entrant to the centre, having taken the GAME unit following its relocation to the Frasers department store. The scheme also benefits from a multi-storey car park providing 345 spaces. The asset produces a gross income of £2,341,116 per annum and a net income of £984,720 per annum. It has a weighted average unexpired lease term of 4.6 […]
