News

Redical makes two senior appointments to Merry Hill team

Redical has made two appointments to the senior leadership team at Merry Hill, following the real estate owner and operator’s recent acquisition of the West Midlands scheme. Alistair Winning joins as leasing manager for Merry Hill, having spent the last four years as an asset manager at the scheme with Sovereign Centros. He will be responsible for driving Redical’s leasing strategy at the destination, using his hands-on experience at Merry Hill. Joining Winning is Fraser Jefferis, who takes up the role of asset manager for Merry Hill. He joins from JLL, where he served as director of property and asset management, and previously held the position of property manager for Hammerson’s Bullring & Grand Central in Birmingham. In his new role, Jefferis will be a key component of the day-to-day management of the asset, working as part of the centre team to accelerate growth. Mikko Syrjanen, co-founder of Redical, said: “Alistair and Fraser are exactly the calibre of people we were looking for as we establish our team at Merry Hill. Alistair’s prior involvement with the centre is a genuine asset, as he understands the market, the occupier mix and the opportunities, whilst Fraser brings a strong track record across […]

Deals

M Core completes sixth letting in 12 months at Swansea retail park

M Core has completed its sixth letting in 12 months at M Parc Fforestfach in Swansea, following the signings of Wingers and Nando’s. The two food and beverage brands have signed 15-year leases for a total of nearly 6,000 sq ft of space. Wingers has taken a 2,040 sq ft unit for its first location in Wales, which will open in June. Meanwhile Nando’s will open in a 3,945 sq ft unit in July. M Core said the pace and quality of letting activity at M Parc Fforestfach is a direct result of its active asset management approach, as it looks to reposition the park around operators with strong national brand equity and loyal customer bases. Adam Martin, director and head of the Bristol Office at LCP UK, part of M Core, said: “We’re delighted to welcome both Wingers and Nando’s to M Parc Fforestfach. These lettings reflect our strategy of attracting well-loved, high-quality brands that strengthen the appeal of the park and provide even more choice for the local community. Together with the other new openings over the past year, it’s a positive picture for Fforestfach and for Swansea.” Anthony Round, franchise development at Wingers, added: “Wingers are very […]

Requirements

Toolstation eyes new sites as it looks to expand London and South East estate

Toolstation has released its latest property requirements list as it looks to expand its store estate across Greater London and the South East. The trade supplies retailer is seeking units on high streets and trade parks ranging between 2,000 sq ft and 5,000 sq ft in size, located in prominent and visible roadside locations. Ideal units will be situated in easily accessible locations, with access to parking and loading bays essential. Target locations include: GCW has been retained to find suitable locations.

Insights

Q&A: How can smaller retail destinations adapt their offerings?

As middle markets continue to feel squeezed, how can smaller, more regional shopping destinations adapt their offerings to a modern customer base? Peter Everest is managing director of WD Ltd – which owns Dockside at Chatham Maritime. The centre – located in Medway, Kent – comprises restaurants, cafés, bars, a range of high street brands and leisure attractions, as well as everyday conveniences and services such as a nursery and dentist. He spoke to Completely Retail News about how the scheme has evolved to meet new demands: How has retail evolved during your time in the industry? “From 25 year upward only rent reviews to short term leases that allow flexibility and change, the landlord and tenant relationship has become a partnership that now also includes the consumer with all parties looking at sales data on a frequent basis.   “Significant macro-economic events such as the 2008 Global Financial Crisis and the more recent Covid pandemic and global unrest have completely reshaped consumer behaviour and many familiar high street brands that failed to adapt have left huge voids across retail space in the UK. The middle market hardly exists and middle market schemes are having to reinvent themselves. “In those intervening years […]

Advice

Turn lease events from growing pains into commercial gains

By 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

Pair of Inditex brands make regional debuts at Sheffield’s Meadowhall

Inditex-owned brands Stradivarius and Pull&Bear have made their regional debuts at Meadowhall in Sheffield. The two openings bring Inditex’s presence at the scheme – which also includes Zara and Bershka stores – to over 70,000 sq ft, Pull&Bear has opened a 13,000 sq ft unit on Meadowhall’s Lower Level High Street, offering a range of menswear, womenswear, and teen clothing, alongside accessories and footwear. Next door, Stradivarius has opened a 9,000 sq ft flagship store, where it stocks the retailer’s trend-led womenswear collections. Richard Crowther, retail leasing director at British Land, said: “Stradivarius and Pull&Bear are compelling additions to our retail mix. They enhance the breadth of our fashion offer and again prove Meadowhall’s regional dominance, with two more Yorkshire debuts for international brands. Meadowhall reaches 20% of the UK’s population, and refreshing our tenant mix with exciting international names such as these means we are providing that vast catchment with access to an unrivalled collection of the best brands.”