News
Sheffield’s largest retail park handed £51m price tag
18th September 2024The largest retail park in Sheffield has been placed on the market with an asking price of £50.75m, reflecting a net initial yield of 7%. Drakehouse Retail Park comprises 17 units arranged around a 784-space central car park, plus two additional drive-through restaurant units. The asset is let to retailers including Wickes, B&M, Pets at Home, Currys, JD Sports, Halfords, and Starbucks and has a weighted average unexpired lease term of 6.2 years to expiry and 4.5 years to break. Drakehouse Retail Park – which spans a gross internal area of 232,538 sq ft – generates an annualised passing rent of £3,796,202, equating to £16.34 per sq ft. The scheme is located seven miles south east of Sheffield City Centre in an established out-of-town retail warehousing area. Nearby assets include the 600,000 sq ft Crystal Peaks Shopping Centre, the 80,000 sq ft Crystal Peaks Retail Park, and the 40,000 sq ft Crystal Peaks Village. Font Real Estate and JLL have been appointed to market the asset.
Deals
Cheesecake specialist takes slice of Soho for second London site
18th September 2024Basque cheesecake specialist La Maritxu has signed for its second location in London at Kingly Street in Shaftesbury Capital’s Soho neighbourhood. The operator will open a 271 sq ft café at 10 Kingly Street, adjacent to the entrance of Soho’s Kingly Court food hub. Founded in 2021, La Maritxu specialises in Basque cheesecakes, originating from San Sebastian. The store will serve a menu which includes single slices as well as 8″ and 10″ cakes, as well as coffee. Customers will also be able to acquire brand merchandise, including aprons and utensils. La Maritxu is due to open in Soho later this month, joining a number of operators who have opened within the neighbourhood. This includes The Little Violet Door at 9 Kingly Street, an upsized Two Floors at 3-4 Kingly Street, The Counter at 15-16 Kingly Street, as well as Liu Xiaomian and a refurbished OKA in Kingly Court. Also joining the estate later this year is Donutelier on Carnaby Street which, like La Maritxu, will add a grab-and-go or stop-and-pause option at a gateway to Kingly Court. Last month, Goldies, the concept from the team behind local bistro Blanchette, also opened within Kingly Court, enhancing the destination’s position as […]
Requirements
GAIL’s seeks more sites for UK expansion
18th September 2024GAIL’s is actively seeking new sites as it looks to continue its expansion across the UK. The bakery chain is considering a variety of different locations, from fast-paced cities to quieter neighbourhoods and market towns. GAIL’s is look for units sized between 1,200 sq ft and 2,000 sq ft at ground floor level but will consider other configurations. The operator has a preference for “interesting” buildings, located on corner plots and near to public transportation links, with space for outdoor seating. Ideal units will also have access from street level and good window frontage. GAIL’s has recently opened new cafés in Bristol, Newbury, Stratford-Upon-Avon, and Chester. Forty Group has been appointed to find suitable locations in London, Essex, Kent, Surrey, Hampshire, and East and West Sussex, whilst Four & Co has been retained to search for units in the Midlands, northern and southwestern England, Berkshire, Oxfordshire, Buckinghamshire, Bedfordshire, and Hertfordshire.
Insights
How Centre:mk worked with a charitable tenant to make an impact in the community
22nd August 2024Whilst charitable causes and non-profits are often found in retail centres across the country, it’s rare that they ever take centre stage. However at Centre:mk in Milton Keynes, a new initiative saw the scheme dedicate mall space, time, and personnel to a local charity focused on raising awareness and donations for those trying to get back into work. At the end of June, the shopping centre held a three-day event in partnership with local charity partner Works For Us (part of Citizens Advice), which aims to help disadvantaged people get back to work with employment assistance and digital training. The charity’s headquarters – which is based within the shopping centre’s management suite – promotes social inclusion by helping people to make informed choices about employment and training needs, providing them with a pathway to paid or better paid work. Works For Us enables people to access vocational guidance, training, and volunteering, helping them raise their skill levels, qualifications, motivation, and confidence to help them to compete more effectively in the labour market. Running from 28-30 June, the ‘Retire Your Attire’ event saw local residents and workers donate over 400 items of clothing to help those in need. Kelly Murdoch, team manager at […]
News
Menswear brand Skopes to open largest store yet at Leeds White Rose
17th September 2024Menswear brand Skopes is set to open its largest store yet at the White Rose Shopping Centre in Leeds. Opening later this month, the 3,800 sq ft store will become the brand’s 20th location in the UK and its launch will signify a homecoming for the brand, which was founded in Leeds in 1948. The store will offer a range of menswear, including suits, outerwear, shirts, footwear, and accessories in a variety of styles, fits, and colours. Skopes at White Rose will be the latest of its next-generation concept stores, which first opened at Westfield London in 2018. The retailer has since brought this concept to Meadowhall in Sheffield and Newcastle’s Metrocentre. Steven Foster, centre director at White Rose Shopping Centre, said: “It’s a pleasure to welcome Skopes to our line-up here at White Rose. Skopes has built a great reputation as a leading menswear retailer in the past ten years, and we’re thrilled to support a Leeds born-and-bred brand. The new store is set to open with a splash, and we know our guests will enjoy Skopes’ offering.” Simon Cope, CEO of Skopes, said: Simon said: “Leeds isn’t just where Skopes was founded; it’s in our blood. The city’s […]
