News
NewRiver teams up with Singapore-based investors for £73.5m Leeds retail park acquisition
29th September 2026A newly-formed capital partnership between NewRiver REIT and two Singapore-based investors has made its first acquisition, a retail park in Leeds, for £73.5m. NewRiver – alongside affiliates of Soilbuild Group Holdings Limited and United Engineers Limited – has acquired The Springs retail park from Legal & General. Constructed in 2018, The Springs spans approximately 275,000 sq ft and has an occupancy rate of 96% and an average rent of £19.2 per sq ft. Tenants at the scheme, which is supplemented by over 900 car parking spaces, include M&S, Next, TK Maxx, Boots, Mango, The Range, Nando’s, and Odeon. The retail park has a weighted average lease expiry of 7.5 years and is expected to be fully occupied within six months. NewRiver said the acquisition price of £73.5m reflects a topped up net initial yield of 7.0% and an equivalent yield of 7.9% The real estate investment trust holds a 25% interest in the partnership, resulting in a net equity investment of £9.3m following the completion of a loan facility. NewRiver said the capital partnership advances its strategy by expanding its capital-light asset management and capital partnerships business, increasing its exposure to retail parks and generating long-term recurring fee income alongside […]
Deals
Crocs snaps up first outlet store in the North East at Dalton Park
29th September 2026Crocs is set to open its first outlet store in the north east of England at Dalton Park outlet shopping centre in County Durham this autumn. The retailer will open a 1,530 sq ft store which will stock the brand’s iconic clogs alongside a range of other footwear, including sandals, as well as accessories. The arrival of Crocs follows a series of new additions to Dalton Park, including the recent openings of Belstaff and TFG London’s multi-brand Hobbs, Phase Eight and Whistles store. Nicky Lovell, head of outlets and retail business development at Global Mutual, said: “Bringing the first Crocs outlet to the North East gives us an opportunity to add something genuinely different to an already well-established footwear offer at Dalton Park. Crocs has a distinctive proposition and appeals to a particularly broad customer base, so it complements the footwear brands already here rather than simply adding more of the same. “Our focus is on giving customers more variety and more reasons to visit. Crocs does exactly that, while also giving shoppers across the region access to the brand in an outlet setting for the first time.”
Requirements
Costa Coffee brews up further expansion
8th September 2026Costa Coffee has unveiled its latest property requirements as it looks to continue its expansion across England, Scotland, and Wales. The coffee shop chain, working with its long-standing partner Savills, is looking to open new locations in retail parks and shopping centres, as well as on high streets and within travel locations. Costa Coffee is also looking to open drive-through units in out-of-town retail locations. Ideal units will range in size between 1,250 sq ft and 2,200 sq ft and be located adjacent to foodstores, retail warehousing, and leisure space. Within retail parks, Costa is seeking units ranging between 1,500 sq ft and 2,500 sq ft in size with external seating. Freestanding or in-line units will be considered, with nearby car parking a necessity. Ideal units will be situated in out-of-town locations with significant traffic flow, adjacent to foodstores, and retail and leisure clusters. In high street and shopping centre destinations, Costa is looking for units between 1,500 sq ft and 2,500 sq ft with outside seating. Locations such as universities, hospitals, and leisure destinations will also be considered. The operator is also looking to open new sites within travel locations such as transport hubs and train stations with significant […]
Insights
Opinion: Out of town retailers race for space in increasingly “sticky” market
23rd September 2026The out of town retail market is facing supply challenges due to a very limited development pipeline and existing occupiers increasingly looking to remain in situ. With extremely tight vacancy in this market, the challenge is not a lack of appetite for space, but whether a suitable unit will become available at all.
Advice
Turn lease events from growing pains into commercial gains
10th March 2026By Simon Matley, director for dilapidations and occupier services at TFT After a period of acquisition, a large commercial retail portfolio can become either a major liability or a powerful cost saver for retailers who need every advantage they can get in a challenging consumer market. For national multiples and high street brands, often with sizeable portfolios numbering in the hundreds of units, or for smaller regional operations that are growing at speed, flexibility and control are hugely important. Brands today are adapting their portfolios in light of changing consumer behaviour and omni-channel retailing, and this is shaped by the increasingly sophisticated data capture that allows them to better understand stock, fulfilment, customer behaviour, and operations. For many who have been acquiring premises over the past 10 years, they will almost certainly find that data allows them to be more efficient in the space they need, not least because of the growth of last mile logistics and on demand deliveries which enables occupiers to be nimble in how they use their spaces. Whether they operate on the high street, in retail parks or rely on distribution centres, retailers want to scale fast, explore new territory and snap up the right […]
News
M Core acquires Newcastle leisure destination
28th September 2026M Core has completed the acquisition of The Gate, a 235,288 sq ft leisure destination in Newcastle city centre. Located on Newgate Street, the Gate is Newcastle’s only covered city centre leisure destination and sits opposite to Eldon Square and close to St James’ Park, Newcastle University, Chinatown, and Newcastle Central railway station. The destination is anchored by a 12-screen Cineworld cinema and Bally’s Casino, alongside a mix of food, drink, and leisure operators. Occupiers include Lane7, Fayre Play, Cosmo, Kiss, Nando’s, Pizza Hut, Wetherspoon’s The Keel Row, MOJO, The WonderBar, Escape Group, Game of Throwing, and The Mayfair Pub & Kitchen, with Tia’s Mexican and Funstation due to open. The Gate also includes a 275-space car park, which is open 24 hours a day and serves both the destination and the wider city centre. The property will be managed by Sheet Anchor Evolve, part of M Core. Danny O’Keefe, co-founder of Sheet Anchor Evolve, said: “The Gate is a significant leisure destination in a strong city centre location. It has an established line-up of occupiers, a wide regional catchment, and an offer that reflects how people increasingly want to spend their leisure time. “Newcastle already has a thriving leisure […]
