News

Lakeside secures six new F&B tenants as Vue recommits

Lakeside shopping centre in Essex has completed six new food and beverage signings, including one UK debut, as longstanding leisure anchor Vue recommits to the scheme. Leading the new additions is GAIL’s, which has committed to a 2,033 sq ft unit on the lower level. The bakery and coffee shop joins other recent additions to Lakeside including The White Company. Black Sheep Coffee has also signed at Lakeside, and will open in a 1,500 sq ft store on the scheme’s lower level this summer. Lakeside has also welcomed the arrival of Maki & Ramen and Smoke & Pepper in recent weeks, while also securing the UK debut of chocolate-themed dessert concept Chocofay and a second location for Pret a Manger, with the operators taking 250 sq ft and 650 sq ft locations, respectively. Meanwhile, cinema operator and anchor tenant Vue is investing in a transformation of its nine-screen venue. The investment will include Vue’s latest recliner seating, its new premium large format Epic, and a new foyer concept. Rob Jewell, managing director of asset management at Pradera, commented: “Lakeside is revitalised, with investment in the destination attracting new brands and growing consumer loyalty to unprecedented levels.  Lakeside’s out-performance is becoming […]

Deals

The Broadway bolsters F&B lineup with GAIL’s signing at St James’s Park

GAIL’s is set to open a new bakery at The Broadway, the mixed-use development at St James’s Park in London. The operator will be taking a 3,200 sq ft space, which will open in July and accommodate for 74 internal and 25 external covers. The Broadway comprises 258 residencies across six towers, alongside 116,000 sq ft of office space and 24,000 sq ft of dining and retail space at ground floor level. The addition of GAIL’s means that 12 of the scheme’s 14 retail units are now leased, representing 77% of the total retail area. The operator joins a number of food and beverage brands already present at The Broadway, including Atis, Farmer J, Coyo Taco, Açaí Berry, and Nostos Coffee. Alex Michelin, co-founder and CEO of Valouran, said: “Wherever GAIL’s open, they bring energy, a genuine sense of community and a quality that sets the tone for everything around them. They have earned a loyal following across London by never compromising on quality or craft, and their decision to open at The Broadway speaks to the exceptional destination we are creating in St James’s Park. We are excited to welcome them this summer and know they will become a […]

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

TGJones owner acquires Flying Tiger Copenhagen

Modella Capital, the owner of TGJones and Hobbycraft, has acquired variety retailer Flying Tiger Copenhagen. The private equity firm said that it is uniquely placed to support the retailer as it enters a new period of growth, which will include expansion into Canada and El Salvador this summer. Modella Capital also said it is backing Flying Tiger’s existing management team as the retailer looks to open 700 franchise stores by 1930. The acquisition follows a transitional period of ownership by Flying Tiger’s lending banks, during which the business was repositioned as it looked to secure long-term growth. Joseph Price, managing director at Modella Capital, said: “Flying Tiger Copenhagen is a hugely exciting opportunity for Modella Capital. “With its strong retail brand, and a unique product offering that has built a loyal customer base across more than 40 countries, Flying Tiger Copenhagen is a business with tremendous potential. “We are pleased to be investing in its future, and we look forward to working closely with the management team to provide the stability, capital and retail expertise the business needs to fulfil its growth plan.” Jens Aarup Mikkelsen, chief executive at Flying Tiger Copenhagen, added: “Modella Capital brings deep retail expertise and […]