News
Bricks-and-mortar remains attractive to retailers, says CBRE
15th October 2024Bricks-and-mortar expansion remains an attractive prospect for retailers across Europe, with 72% of occupiers confirming they have plans for further expansion, according to CBRE’s 2024 European Retail Occupier Survey. The report – which gathered responses from over 60 retailers with a combined global footprint of more than 130,000 stores – found that 71% of retailers which are planning to expand their bricks-and-mortar intend to do so in areas where they already operate. The survey also found that larger stores are also in favour, with 72% of respondents looking to increase the size of their stores. This has shown a marked increase from CBRE’s findings in 2022, in which only 26% of retailers looked to upsize. This search for larger stores is one of a few trends CBRE has observed, particularly across athleisure and fashion in gateway and capital cities. The firm has also noted an uptick in the own-to-occupy trend, whereby luxury retailers are showing an increasing desire to own their stores as opposed to leasing. However, leasing remains the predominant strategy for the mass market, with 84% of retailers stating that they have no plans to expand their store ownership. Chris Gardener, CBRE’s head of European retail said: “Improved consumer […]
Deals
McDonald’s signs for Dockside Chatham as long-standing tenant relocates
15th October 2024McDonald’s is set to join Dockside Chatham, as part of an ongoing asset management strategy to enhance the retail and leisure offer at the Kent scheme. Scheme owners WD Chatham have agreed a 25-year lease with the fast food restaurant to take approximately 5,000 sq ft of space opposite the recently-opened Wagamama and Zizzi restaurants. McDonald’s will take the unit formerly occupied by long-standing tenant, Choice Discount Stores, which itself has relocated to a new 9,000 sq ft unit adjacent to anchor retailer The Range. The new store location will enable Choice Discount Stores with an improved, larger environment to showcase their range of fashion and homeware products. Anthony Sutton, centre manager at Dockside said: “Both the McDonalds and Choice deals are a real testament to our commitment to Dockside and the broader Chatham Maritime project. We cannot wait to see them open their doors.” Two new units are also being created alongside McDonalds, with leasing discussions “progressing well”. WD Chatham also said it is in advanced discussions to deliver new retail brands and some additional experiential leisure activities to Dockside. The group is looking to transition the centre from its historic outlet focus into becoming a regional retail and […]
Requirements
Padel Social Club appoints agents to support nationwide expansion
14th October 2024Padel Social Club has appointed leisure real estate advisory business Stärka as sole agents to support its nationwide expansion. The social padel concept – which launched its first site in Earl’s Court and recently opened at The O2 – is targeting indoor and outdoor spaces ranging between 10,000 sq ft and 40,000 sq ft. The operator takes a flexible approach with its locations and formats, which range from multi-court barns to pop-up or permanent turn-key court installations and activations. Stärka is seeking locations which suit Padel Social Club’s target demographic, and is also looking to secure regional firsts in some of the UK’s most iconic locations. The brand’s concept welcomes players of varied experience, with some venues coming with social and wellness areas, rooftop bars, meeting rooms and co-working spaces, as well as cafés and retail spaces selling specialist equipment and clothing. David Bell, co-founder of Stärka, said: “Our partnership with Padel Social Club has come as a direct result of our previous success in acquiring locations for a number of operators, both established and up-and-coming. Our expertise very much lies in the bespoke and collaborative approach we take with landlords, as well as our ability to truly understand the core nature […]
Insights
Government can use retail and leisure sectors to unlock growth, says Revo
27th September 2024The upcoming Autumn Statement gives the government the opportunity to unlock economic growth by supporting the retail and leisure sectors, according to new research by Revo. Revo – the trade body for the retail and leisure real estate sector – has partnered with insight and foresight consultancy Trajectory, as well as over 30 sector figures and academics, to conduct scenario planning, with the objective of identifying how its members can prepare for how the industry might look in 2034. The report will be published in full later this year and looks to present new perspectives on the possible and plausible futures for the UK retail and leisure property industry. Revo’s scenario planning looks at three possibilities of how the industry may look in 2034: Under each of the above scenarios, Revo and its partners have looked at the forces which may be shaping retail and leisure real estate sector in 2034. These include the growth of generative AI to the future-proofing of assets from the risks posed by climate change. Whilst the full report will be launched later this year, the highlights from the research launched at this year’s Revo Conference call on the retail and leisure real estate sector […]
News
Blackstar and Novara form £100m joint venture
14th October 2024Asset management firm Blackstar Real Estate and real estate investor Novara Global Partners have signed an agreement to acquire and manage a £100m real estate portfolio. The joint venture will target commercial real estate with a focus on shopping malls and town centre assets with development potential across the UK. Blackstar Real Estate – which was launched in August by asset management heavyweight Sabri Marsaoui – provides asset management and development services to its partners, which include private equity firms, institutional investors, family offices, and local authorities. Blackstar was recently welcomed by the Association of Town & City Management to its network, with the firm providing support on structural changes to town centres. Novara Global Partners is a real estate investment firm which specialises on the UK and European markets. The firm looks to deliver strong risk-adjusted returns by investing in assets that are well-positioned for current conditions, but also resilient to future market changes, ensuring that investors can achieve sustained performance across multiple sectors. Sabri Marsaoui said: “Together with Novara, we look forward to delivering our full end-to-end service; seeking out those opportunities that will not only meet our investment criteria, but just as importantly, bring about positive change […]