
News
Landsec hands Northampton retail park £31m price tag
10th February 2025Landsec has placed Nene Valley Retail Park in Northampton on the market with a price tag of £31,645,000. Located approximately half a mile south west of Northampton city centre, Nene Valley is a purpose-built retail park providing 149,965 sq ft of retail warehousing space. The scheme is fully let and is home to retailers including Currys, Dunelm, B&M, Wren Kitchens, Smyths Toys, NCF, Dreams, Tapi, Mattressman, and Carpets4Less. It has a weighted average unexpired lease term of 5.1 years to expiry. The retail park generates a rental income of £2,592,979 per annum, reflecting an average rent of £17.29 per sq ft. It is also supplemented by a 679-space car park. Rosebury Real Estate has been appointed to market the asset.

Deals
Kate Spade New York makes London outlet debut at The O2
10th February 2025Kate Spade New York is set to open its first outlet store in London at The O2. Located at on the upper level of Outlet Shopping at the O2, the 2,408 sq ft store will offer the lifestyle brand’s seasonal and gifting collections, including clothing and accessories. Louisa Dalgleish, leasing director at Outlet Shopping at The O2, said: “Kate Spade New York signing for its London outlet debut at The O2 follows a remarkable 2024, and is a clear indicator that The O2 remains the go-to place for outlet debuts in the capital. They are the perfect addition to our premium retail offer and provide customers with yet another reason to visit us.” The news follows a record-breaking 2024 at The O2, which welcomed over 10 million visitors over the course of the year. The venue also welcomed more than 31,000 sq ft of new retail, whilst sales were up by 6% year-on-year. KLM and CBRE represent Outlet Shopping at The O2.

Requirements
Cards Direct targeting over 20 new stores in 2025
7th February 2025Cards Direct is looking to open more than 20 new stores in 2025. The retailer – which operates over 80 stores – is seeking units with between 1,200 sq ft and 2,000 sq ft of sales space. Ideal units will have a minimum width of 18 ft and will be located in prime or good secondary areas including shopping centres and high streets. Cards Direct opened 21 stores last year and has branches in major locations including The Centre in Milton Keynes, Queensgate in Peterborough, and Cabot Circus in Bristol. The retailer’s target locations include, but are not limited to: AS Retail has been appointed to find suitable units.

News
Fortress’ Loungers takeover sanctioned by High Court
7th February 2025The takeover of hospitality group Loungers by US private equity firm Fortress Investment Group’s is set to go ahead after being sanctioned by the High Court. An initial agreement between Loungers and Fortress – which also owns the Poundstretcher and Majestic Wines brands – was reached in November 2024, valuing Loungers for almost £340m. However Fortress submitted a higher offer in January. The newer offer, which values Loungers at around £366.6m, was then approved by the operators’ shareholders. Loungers operates over 280 sites across the Lounge, Cosy Club, and Brightside brands. Fortress previously said it believes it is a strong partner for Loungers, its management team, its employees and its other stakeholders in the next stage of its growth journey. The investment group added that it believes in Loungers’ growth prospects, and the future of experience-led retail and hospitality offerings in the UK market.
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