News
Network Rail Stations see record-breaking quarterly sales of £240.5m
1st April 2025Network Rail has achieved record-breaking quarterly sales of £240.5m across its portfolio of 19 managed stations across Great Britain. During the period, which covered October to December 2024 (Q3 2024), total sales were up by 7% while like-for-like sales increased by 7.7% across the portfolio. Total retail sales during the period reached £240.5m, representing an increase of more than £16m compared to the previous year. Retail sales were also higher than the previous quarter by over £7m. For the entire 2024 calendar year, sales at Network Rail stations surpassed £900m. During the third quarter, 24 retail units opened across 19 stations. Three new brands joined the Network Rail line-up as well as six pop-ups. These included the Paddington in Peru pop-up at Paddington Station, the Duck World pop-up at London Bridge, and two permanent Gail’s bakeries at London Bridge and London Liverpool Street. Hamish Kiernan, commercial director of property at Network Rail, said: “Our retail sales figures across these 19 managed stations continue to go from strength to strength, and our Q3 sales figures are the highest ever, demonstrating the strength of our offer. We’re continuing to diversify our retail to bring a strong and varied mix to customers using our […]
Deals
Sloane Stanley brings beauty and wellness brand to Fulham Road
1st April 2025The Sloane Stanley Estate has brought So.Shell to Fulham Road, with the manicure and pedicure treatment brand making its Chelsea debut. So.Shell has opened a 1,328 sq ft salon at 307 Fulham Road, offering treatments such as nail extensions, nail art, lash treatments, and eyebrow grooming laminations. The nail treatment brand joins a number of beauty and wellness-focused operators within Sloane Stanley’s wider estate, such as KARVE, Margaret Dabbs, TriYoga, FaceGym, and Backstage. Hannah Grievson, property director at Sloane Stanley, said: “So.Shell continues to elevate our beauty and wellness mix across the estate, and highlights the continued popularity of these uses among consumers. Together with our existing operators, we now have one of the most significant concentrations of beauty and wellness in London.” The news follows the recent announcement that Minka Dink will be opening its second pop-up store on Chelsea’s King’s Road, within the Sloane Stanley Estate. Opening at 324-326 King’s Road, the store will stock a range of the brand’s womenswear products. Miles Commercial and Levy Real Estate represented the Sloane Stanley Estate in the deal.
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
Landsec completes £114m sale of Essex retail park
1st April 2025Landsec has exchanged contracts on the sale of Lakeside Retail Park in Thurrock, Essex for £114m, reflecting a net initial yield of 6.0%. The purchaser is GTAM Apex Lakeside Bidco, in which Farran Investments is a minority co-investor and asset manager to. The sale is expected to complete by the end of April. Lakeside Retail Park spans approximately 385,000 sq ft and is currently 97% let, producing a net rental income of £6.8m for the 2025 financial year. Landsec said the disposal is in line with its focus on delivering sustainable income and earnings per share growth, while maintaining a strong capital base. The group said last month that it intends to recycle around £0.8bn of capital out of its residual retail and leisure park assets over the next three years. This will support Landsec’s planned additional investment of c. £1bn into growing its major retail destinations platform. Tim Treadwell, head of retail portfolio at Landsec, said: “In line with our strategy we have continued to recycle capital out of assets where our ability to add further value is limited. The sale of Lakeside Retail Park will support our drive to focus our resources on areas where we can deliver […]
