News

Lane7 opens second venue in Sheffield at Meadowhall

Competitive socialising operator Lane7 has opened its second location in Sheffield at British Land’s Meadowhall shopping centre. The new venue features boutique bowling lanes as well as food and cocktails. It joins Lane7’s existing site in Sheffield on Matilda Street, and enables the operator to reach a wider audience across the wider South Yorkshire region. Lane7 joins Meadowhall’s growing leisure offer, which includes recent reinvestment from Vue and the upcoming opening of Play Padel. Gavin Hughes, managing director of Lane7 Group, said: “We have wanted to be in Meadowhall for years as it is one of the country’s leading shopping and leisure destinations, with exceptional footfall and a genuinely regional catchment. “This location significantly increases our presence in Sheffield. Our existing city-centre business has performed strongly, and Meadowhall gives us the opportunity to serve a different occasion and a much wider audience. “The move is another example of the consolidation taking place across competitive socialising. The market has developed quickly, but scale, operational capability and continued investment are becoming increasingly important. Lane7 is well positioned to take advantage of further opportunities as the sector matures.” Richard Crowther, retail leasing director at British Land, added: “Meadowhall is the dominant destination in […]

Deals

ONLY to make London outlet debut at The O2

ONLY is set to open its first outlet store in London at Outlet Shopping at The O2. The Danish fashion retailer – which operates over 1,200 stores across Europe, Asia, and North America – will open in a 4,000 sq ft space, in close proximity to the likes of Kate Spade New York, Calvin Klein, and Reiss. ONLY at The O2 will stock a range of womenswear, menswear, and children’s collections, alongside footwear and accessories. The signing comes amid a number of investments from retailers across the scheme. Menswear retailer The Label Yard has opened a 1,323 sq ft store at the destination, stocking a range of products from both niche retailers and established brands. This opening, along with ONLY’s signing, comes after fashion sales at Outlet Shopping at The O2 saw a 14% year-on-year increase in September. In addition, French Connection and Le Creuset have both chosen to reinvest in their respective 1,766 sq ft and 1,353 sq ft stores within the scheme. Louisa Dalgleish, leasing director at Outlet Shopping at The O2, said: “While our outlet is already home to a mix of leading retail, we’re always exploring ways to evolve and deliver a varied and distinct experience […]

Requirements

Costa Coffee brews up further expansion

Costa 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

Retail parks to outperform UK real estate sector, CTI report says

Retail parks are forecast to outperform the wider UK real estate sector, according to a new report from Columbia Threadneedle Investments (CTI) and Capital Economics. The Case for UK Retail Parks predicts that retail parks will generate total returns of approximately 8.3% per annum between 2026 and 2030, placing the sector amongst the strongest-performing areas of UK real estate. The research suggests that retail parks offer a compelling combination of attractive yields, improving occupier fundamentals, and structurally constrained supply. The imbalance in demand and supply is subsequently fuelling positive rental growth, supporting capital value growth alongside income returns. According to the paper, retail parks sit at the intersection of three forces shaping UK real estate: consumers’ increasing focus on value; demand for convenience-led retailing; and a structurally constrained development pipeline. Together, these factors are expected to support rental growth and attractive income-led returns over the medium-term. However, the research suggests that the investment case for UK retail parks extends beyond traditional retail, identifying five key trends supporting the sector’s potential to generate long-term income and growth, including: consumer trends favouring retail parks; the increasing diversification of retailers taking space; the difficulty of replicating retail park offerings online; the strengthening of […]

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

St Johns Liverpool to open ‘Beatles Story’ experience

Apple Corps Ltd, Liverpool City Council, and Liverpool City Region Combined Authority have announced plans to deliver a new 100,000 sq ft immersive tourist experience “The Beatles Story” at St Johns shopping centre. With support from central government, the plans will look to deliver a major global attraction in the city centre by repurposing the former St Johns’ market hall – part of St Johns Shopping Centre. In addition, Liverpool’s Beacon Tower will house a Yellow Submarine-themed experience with views across the city. The Beatles Story will deliver a multi-hour experience, during which visitors will journey through the world that created the legendary band. Fans will be able to step inside recreations of some of the most iconic locations and moments in Beatles history, including The Cavern, Abbey Road, Shea Stadium, and Savile Row, several of which have been recreated using sets and props from the forthcoming Four Film Cinematic Event. The St Johns Beacon Yellow Submarine themed experience will also look to give fans the opportunity to enjoy a panoramic 360-degree view of Liverpool, taking in landmarks and key locations. The arrival of The Beatles Story follows an extensive programme of refurbishment and repurposing by Veld Capital and RivingtonHark, […]