Latest Retail News

Hammerson completes £156m Brent Cross acquisition

21st May 2025

Hammerson has completed its acquisition of Brent Cross, purchasing the remaining units of the Greater London shopping centre for £156m. The real estate investment trust has acquired 95% of the units in the Abrdn UK Shopping Centre Trust (SCUT), which holds the 59% of Brent Cross not already owned by Hammerson. The group said the acquisition price represented a 6% discount to the December 2024 book value, and reflected a net initial yield of 8.6%. Combined with Hammerson’s existing stake, its interest in Brent Cross is now 97%. Hammerson has also made an offer to acquire all remaining SCUT units on the same terms as those already acquired. The acquisition comes as Hammerson releases a trading update for 2025, a period during which it has welcomed over 50 million visitors to its destinations. In the year to 16 May, the group has exchanged on 93 leases, representing 424,000 sq ft of space and £15.5m of headline rent. During the first quarter, year-on-year occupancy within Hammerson’s estate increased by 70 basis points to 94%. Regarding future income, Hammerson said that long-term deals represent 91% of its portfolio by value, and the weighted average unexpired lease term to break is 5.4 years […]

Wrexham AFC to open club shop at Eagles Meadow

20th May 2025

Wrexham AFC, the professional football club backed by Hollywood stars Ryan Reynolds and Rob McElhenney, is set to open a 17,000 sq ft club store at Eagles Meadow Shopping Centre in Wrexham, Wales. The store will be Wrexham AFC’s main club shop, serving both local fans as well as followers of the “Welcome to Wrexham” series, which has followed the club since it was purchased by Reynolds and McElhenney in 2021. The shop is set to include a space reserved for fans and the local community, as well as the installation of a content creation area. Wrexham AFC’s opening will continue a flurry of activity that has taken place at Eagles Meadow Shopping Centre over the past 12 months. New tenants include at the scheme include Airhop, Footasylum, Nouveau Restaurant + Bar, Foundry Gym, M1 Nails, Cwtch Ceramic Café, Geek Barbers and Geek Cabin. Savills completed the deal on behalf of EEH Ventures and Adynaton Asset Management. Adam Sanderson, surveyor in Savills’ retail team, said: “This deal not only marks a major milestone for Wrexham AFC, which is growing at a phenomenal rate both on and off the pitch, but also for Eagles Meadow Shopping Centre. The shopping centre is seeing increased appetite...

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House of Cavani suits up for Castle Quarter opening

20th May 2025

Men’s formalwear brand House of Cavani has signed for a new store at Castle Quarter in Norwich. The Italian-inspired brand has taken a seven-year lease for the store, which will be its 16th in the UK and its third in East Anglia, joining locations in Cambridge and King’s Lynn. House of Cavani will join major retail brands at Castle Quarter such as Tk Maxx, Boots, Flying Tiger, Tresspass, and The Entertainer, alongside competitive socialising operators including Boom Battle Bar, Putt Putt Social, and Escape Hunt. Will Ashdown, asset manager at RivingtonHark, said: “House of Cavani is a great addition to the line-up at Castle Quarter, and underlines the retail strengths of the destination. Throughout the repositioning towards social, leisure and lifestyle operators, we have worked hard to ensure major retail brands remain at the centre of Castle Quarter’s offer, and House of Cavani’s choice to open its latest store here demonstrates the strength of that approach. Our strategy of delivering a diverse an occupier line-up as possible is seeing significant benefits for all occupiers through footfall and trading performance.” Roche and Jamieson Mills are the retained agents at Castle Quarter.

Deals

Lifestyle brand picks Victoria Leeds for first location outside of London

20th May 2025

Luxury lifestyle brand BYREDO is set to open its first space outside of London at Redical’s Victoria Leeds. Following a successful concession within the Harvey Nicholls store at Victoria Leeds, the brand has now signed for a 2,154 sq ft space within Victoria Quarter. The store will stock a range of fragrances, makeup, home products, leather goods, and accessories. BYREDO will look to complement the destination’s existing self-care line-up, joining luxury skincare brand Aesop, which recently made its North of England debut. Rachel Bradburn, leasing director at Victoria Leeds, said: “The luxury nature of BYREDO means they will be a perfect fit with our leading tenant mix. Yet another strategic brand decision to launch its first standalone store outside of London, BYREDO’s flagship further cements Victoria Quarter as the go-to premier destination for luxury brands. We cannot wait to see what their new expanded space brings to the destination’s premium line-up.” This news follows the recent signing of womenswear retailer Nobody’s Child at Victoria Leeds, with the brand set to open its second store outside of London. Lunson Mitchenall and Central Retail acted for Victoria Leeds.

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Loaf stretches its legs with plans to double store estate

9th May 2025

Loaf is looking to double the size of its store estate, as the furniture retailer aims to open another 10 sites by 2030. The retailer has retained GCW Property Consultants to support its continued expansion across the UK and add to its existing portfolio of 10 ‘Shacks’. Founded in 2018 as The Sleep Room, a handmade bed specialist, the retailer rebranded to Loaf in 2012 to represent its increased product range which now includes sofas, furniture, and accessories. The brand opened its first bricks-and-mortar store in 2015 on Queenstown Road, Battersea, and now operates ‘Shacks’ in locations such as Manchester, Edinburgh, Solihull, Bristol, Leeds, and Notting Hill and Chiswick in London. Loaf is targeting units ranging between 4,000 and 12,000 sq ft in size in locations including Tunbridge Wells, Hampstead, Winchester, Blackheath (London), and Bath. Theodore Sheppard, chief commercial officer at Loaf, said: “With the help of GCW, Loaf is on the hunt for a further 10 sites by 2030, with its concept of “making laid-back furniture for people to kick-off their shoes and lead happier, more relaxed lives. “We aim to double our estate in the next four to five years. Our data insights and visits to various UK […]

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Derbion Q&A: New arrivals, recent investment, and what’s in store at the shopping centre

24th April 2025

Many shopping centres in UK towns and cities have struggled in recent years as the retail market gets to grips with a post-pandemic world and shifts in spending habits. However some assets appear to have bucked the trend, such as Derbion in the East Midlands, which has welcomed new tenants and continued investment from occupiers. Spanning 1.1 million sq ft, the Derby scheme is home to over 200 tenants, including Next, Zara, Mango, H&M, M&S, Hobbs, Hugo Boss, and JD Sports. It also contains a 127,000 sq ft department store for Frasers, Sports Direct, USC and GAME. Completely Retail News caught up with Michael Boundy, director of asset management at Derbion, to chat about what’s new at Derby’s largest shopping centre: What new retailers has Derbion welcomed in recent months? “2025 has been off to a flying start at Derbion, with a range of new and exciting brands and store upgrades. Following excellent sales performance, JD has doubled its footprint to a newly fitted out 20,000 sq ft store which opened in February, whilst iconic lingerie brand Victoria’s Secret will open its new, standalone 5,721 sq ft store at Derbion this summer, expanding out of its current space in Next, […]

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Finding the right retail property for you

20th March 2024

Every business is unique, and for those who want to enter the world of physical retail, finding the right property is no different.

Korean beauty retailer PURESEOUL to open largest store yet on Carnaby Street

20th May 2025

Korean beauty retailer PURESEOUL is set to open a flagship store at 11-12 Carnaby Street in London’s Soho, the brand’s largest location to date. Opening in June, PURESEOUL’s 3,000 sq ft store will span two floors and include a range of experiential features, including a multi-use area on the ground floor. This can also be utilised as an activity space for pop-ups and workshops. PURESEOUL will join other beauty and wellness brands in Soho including Grown Alchemist, MALIN+GOETZ, Sculpted by Aimee, and cosmetics brands such as Aesop and Byredo. William Oliver, director of retail and restaurant leasing at Shaftesbury Capital, said: “PURESEOUL selecting Carnaby Street as the home of its flagship and largest store to date speaks volumes about the appeal of our neighbourhood, and how we resonate with next-generation, culturally-driven brands. PURESEOUL is a great example of a retailer which has been able to fuse the authenticity of Korean beauty and culture, offering the latest trends and experience-driven shopping, whilst encouraging curiosity amongst new consumers, and they will be right at home alongside our leading brand mix.” This announcement follows the news that unisex footwear brand Autry has opened at 61-63 Beak Street in Soho, making its UK debut....

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Savills adds director to national retail team

20th May 2025

Savills has added to its national retail team with the appointment of Nicole de Blaquière as a director. She joins from Green & Partners, bringing experience in client-facing roles. Prior to this, she also worked for six years at Cushman & Wakefield. In her previous roles, de Blaquière worked with a range of high-profile landlords and provided retailer consultancy advice. Working from Savills’ London office, de Blaquière’s new role will see her advise both landlords and operators, with a particular focus on shopping centre instructions. Alan Spencer, head of UK retail at Savills, said: “We are delighted to welcome Nicole to our team. Her impressive track record in retail consultancy and deep understanding of landlord needs, specifically her work with shopping centres, strengthens our ability to deliver strategic value to our clients amidst an evolving retail landscape.” Nicole de Blaquière added: “I’m thrilled to be joining Savills at such a pivotal time for the retail sector. There’s a real opportunity to help landlords adapt, reposition assets, and unlock long-term value. We’re also seeing the emergence of some highly acquisitive and exciting brands. I look forward to working with the team and offering expert guidance to both new and existing clients.”

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Roadside retail portfolio heads to market with £15.9m price tag

21st May 2025

A roadside retail investment portfolio has been brought to market with a price tag of £15,963,000, reflecting a net initial yield of 5.76%. The ‘Project Pitstop’ portfolio comprises roadside assets located in Northampton, Wednesbury, Oswestry, Warrington, Cardiff, Wakefield, and Willerby (near Hull), all of which are fully let to tenants including Starbucks, Costa, Burger King, KFC, Greggs, IN ‘n’ OUT, Source EV, and Osprey Charging Network. The portfolio has a total floor area of 26,717 sq ft and produces a topped up rent of £977,699 per annum, reflecting an average rent of £35.34 per sq ft. The weighted average unexpired lease term is 12.2 years to expiry and 10.7 years to break, with 57% of the income benefitting from guaranteed fixed or indexed-linked rental uplifts. Harris Lamb and Stockford Anderson have been appointed to market the portfolio. David Walton, head of retail at Harris Lamb, said: “Competition for drive thru sites is fierce, exacerbated by increasing consumer demand for convenience and a limited supply of new opportunities, planning constraints and rising development costs. This is a rare opportunity to acquire a successful, highly prominent and very profitable portfolio of well-let reversionary drive to and drive thru assets.” The sites also […]

Five brands recommit to Manchester Arndale with new long-term leases

19th May 2025

Five major retailers at the Manchester Arndale shopping centre have agreed new long-term leases, with the tenants signing for an extra 30 years in total. Leading the signings is footwear retailer Deichmann, which has agreed to upsize its existing 6,357 sq ft unit, taking an additional 2,101 sq ft of space on a 10-year lease. Meanwhile, Waterstones has signed a seven-year lease for its 15,717 sq ft, while The Body Shop and Victoria’s Secret have both agreed five-year leases for their respective 2,061 sq ft and 5,093 sq ft spaces. Victoria’s Secret is also planning a refit of its store. Finally, leisure operator Urban Playground has committed to a three-year lease extension for its 19,308 sq ft space. Steve Gray, head of European retail asset Management at Global Mutual, said: “It’s fantastic to see these established names choosing to extend their stay at Manchester Arndale. Their renewed commitment is a testament to the strong trading environment, impressive customer base, and dynamic mix of brands that the centre offers. We look forward to building on this momentum with more exciting updates in the coming months.” Manchester Arndale has recently welcomed a number of fashion and beauty brands, including BPerfect, Trailberg, and Pureseoul,...

Hundreds of Poundland stores at risk under rescue deal terms

19th May 2025

Poundland could close up to 200 loss-making stores as part of a rescue deal for the discount retailer. Bids for the retailer – which has been up for sale since March – are expected this week, with The Sunday Times reporting that investment firm Gordon Brothers has emerged as the frontrunner. Other potential suitors include Hilco Capital, Endless, and Modella Capital – the private equity firm which owns The Original Factory Shop and recently acquired WHSmith’s high street business. Poundland – which operates 825 stores across the UK – has suffered as a result of rising costs and competition from other supermarkets. A spokesperson for Pepco Group, which owns Poundland, said: “As announced at the capital markets day on March 6, Pepco Group is moving away from fast-moving consumer goods to create a simpler business focused on higher-margin clothing and general merchandise and is actively exploring separation options for Poundland, including a potential sale, from the group.” They added: “Poundland is executing a turnaround programme to get the business back on track, focusing on its core heritage strengths and a simpler pricing proposition and customer offer.”
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The Range begins conversions of former Homebase stores

19th May 2025

The Range has completed the first phase of its store conversion programme, with 55 former Homebase units now trading under its fascia. The discount retailer acquired the DIY chain and up to 70 of its stores last November,after its collapse into administration. Some of the converted stores feature garden centre concepts and kitchen showrooms, with bathroom showrooms to be introduced at selected stores in the future. CDS Superstores – which owns The Range – said the second phase of its store rollout will be announced shortly. The retailer added that it has also expanded its partnership with grocery retailer Iceland to over 150 stores. Alex Simpkin, CEO of CDS Superstores, said: “We are incredibly proud of the progress we have made in transforming former Homebase stores into vibrant The Range superstores. “This project has not only saved jobs but has also enhanced our offering to customers, providing them with a comprehensive shopping experience for all their home and garden needs. “Our partnership with Iceland and the integration of Wilko own-brand items further demonstrate our commitment to convenience and quality. We look forward to continuing to serve our communities with excellence.”
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