News
Northdale completes trio of shopping centre acquisitions
23rd December 2024Northdale Asset Management has acquired three UK shopping centres for a total of £35m, CoStar News reports. The purchase comprises Kingsgate Shopping Centre in Dunfermline, Scotland, Vancouver Quarter in King’s Lynn, Norfolk, and The Rushes Shopping Centre in Loughborough. Kingsgate spans 289,716 sq ft and forms the prime retailing pitch within Dunfermline. The scheme comprises 75 units and is let to tenants including M&S, New Look, Starbucks, Waterstones, Superdrug, Boots, Clintons, M&S, River Island, and The Entertainer. Vancouver Quarter is the largest of the three schemes, spanning 365,082 sq ft. Key tenants include B&M, H&M, New Look, Sainsbury’s, Sports Direct, Superdrug, and TK Maxx. The Rushes comprises 223,063 sq ft of retail accommodation, with tenants including Tesco, JD Sports, TK Maxx, and Next. Lunson Mitchenall advised on the sale, whilst KLM Real Estate advised Northdale.
Deals
Everyman opens at Stratford Cross alongside 5,000 sq ft of F&B
19th December 2024Cinema chain Everyman has opened as the anchor tenant at the Turing Building at Stratford Cross in East London, alongside two independent food and beverage brands. The new 10,900 sq ft venue features 253 sofas and armchairs across three screens, hosting movies, theatre screenings, and events. The cinema also includes an outdoor terrace, a lounge serving food, and a full cocktail bar. The opening coincides with the completion of the Turing Building at Stratford Cross, which also provides 350,000 sq ft of Grade A office space. Joining Everyman is European small plates restaurant and wine bar, Templar, which has opened a 1,225 sq ft space near the London Stadium and the East Bank Cultural Quarter. Meanwhile on the nearby Arber Way, Greek-inspired concept Hera has opened a 3,900 sq ft restaurant, featuring a heated outdoor terrace and a bar area with seating. Guy Thomas, head of leasing at the landlord Lendlease, said: “The opening of Everyman, along with the recent additions of Templar and Hera, comes at an exciting time for Stratford Cross as the much anticipated Turing building is now complete. These new openings bring a fresh energy to the area, blending a well-known name with unique local dining spots. […]
Requirements
Chuck E. Cheese targeting entrance to UK market
6th December 2024American restaurant chain Chuck E. Cheese has laid out its requirements as the brand looks to open its first sites in the UK. The family entertainment concept – which has over 550 locations worldwide – is looking to capitalise on an expanding redemption game market in the UK. The brand looks to combine entertainment with a food and beverage offering, bolstered by a strong brand presence. Chuck E. Cheese’s initial target locations include Glasgow, Leeds, Manchester, Birmingham, Milton Keynes, and Bristol. The operator is looking to open in high footfall locations with a strong family demographic, with a catchment of over 25,000 under 12-year-olds within a 20-minute drive time. Chuck E. Cheese is targeting shopping centres, retail parks, and leisure parks with car park frontage. Ideal locations will be between 10,760 sq ft and 16,145 sq ft in size, preferably with an eaves height of 13.1 feet. Wright Property has been appointed to advise Chuck E. Cheese on its expansion.
News
Homeware retailer makes physical debut at Bluewater
20th December 2024Online homeware retailer Inside Story has opened its first-ever physical store at Bluewater in Kent. The 1,827 sq ft store – which opened earlier this month – is located on the Lower Guildhall, adjacent to HUGO. Inside Story at Bluewater offers a range of products including cushions, scented candles, linens, and decorative accessories. Also available at the store is Christmas gifting products such as candles, cushions, and diffusers. James Waugh, centre director at Bluewater, said: “We’re delighted to have welcomed Inside Story’s first physical store to our retail lineup here at Bluewater. “This is a fantastic addition to our retail mix, offering something that cannot be found at any other shopping destinations, and further strengthens our position as a leading shopping destination. “Alongside the recent openings of Kent-first brands such as Bershka, Pull&Bear, and Sephora, this demonstrates our commitment to offering guests a diverse and exciting range of fashion, beauty and homeware brands.”
