News

DTZ Investors acquires Slough Retail Park

DTZ Investors has acquired Slough Retail Park, a fully-let scheme comprising eight units and a drive-through. Spanning 121,000 sq ft across a 9.6-acre site, tenants at the retail park include Lidl, The Range, and Costa Coffee. DTZ Investors said the transaction forms part of its essential retail sector strategy, and follows a number of recent acquisitions including Cantium Retail Park in Southwark and The Oaks Retail Park in Harlow. Rebecca Burley, associate director at DTZ Investors: “Slough Retail Park is the dominant out of town retail destination in its catchment. Proposed reductions in retail space, both in the town centre and out of town, will further tighten supply, underpinning strong occupier demand in this location. This is a complementary addition to the fund, increasing allocation to retail warehousing which aligns with our strategic objectives.” DTZ Investors was advised by Morgan Williams and Rosebury Real Estate. CBRE advised the vendor.

Deals

JD Gyms to make regional debut at Harlequin Watford

JD Gyms is set to open at Harlequin Watford, with the fitness operator launching its first gym in the region. Spanning over 30,000 sq ft, the venue will serve as a regional flagship for JD Gyms. The space will look to deliver a fitness experience that combines a state-of-the-art gym and studio facilities with a huge range of cutting-edge equipment. The operator will join a mix of leading UK and international retail and leisure brands at Harlequin, including Uniqlo, Space NK, PuttShack, and Boom Battle Bar. JD Gyms will look to benefit from Harlequin Watford’s annual footfall of 17.2 million and its diverse catchment, which extends into London and across Hertfordshire and Buckinghamshire. Robert Jewell, managing director of asset management at Pradera, said: “As Harlequin continues to evolve as a dual-purpose destination for both retail and leisure, the signing of such an in-demand brand as JD Gyms is another landmark moment for the centre’s ongoing evolution. Harlequin continues to welcome its visitors back time and time again, and the arrival of JD Gyms will create yet another reason for customers to spend more time at the centre as part of their active lifestyles.” Darren Pallett, property director at JD Gyms, added: “We are delighted […]

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

Comment: A guide to creating a thriving destination through placemaking

For owners, operators and brands alike, the challenge is no longer simply attracting occupiers or filling units. It is creating destinations that give people a reason to visit, stay longer and spend more. That is where placemaking has moved from a marketing add-on to a commercial discipline. Understanding this, and responding to it, sits at the centre of how we shape and manage our clients’ assets.

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

Savills appoints director to property management team

Savills has bolstered its property management division with the appointment of Marcus Hutchings as a director, based at the firm’s Margaret Street headquarters in London. He joins from CBRE, where he spent over 12 years and most recently held the position of senior director. He is a chartered surveyor with over 15 years’ of experience and specialises in the oversight and transformation of property management mandates across institutional portfolios and mixed-use estates. Throughout his career, Hutchings has advised a range of major institutional investors and high-profile clients, including M&G Real Estate and Shaftesbury Capital, across large and complex portfolios. Katrina Mackay, chief operating officer of property management at Savills, said: “Marcus is a highly respected property management professional with an impressive track record advising some of the UK’s largest and most complex real estate portfolios. His experience in driving operational excellence will be invaluable as we continue to evolve our service offering and build on the progress we have made across our retail and business space platforms over the past 12 months. The appointment reflects our ongoing commitment to investing in the very best talent, and ensuring we have the depth of expertise required to support our clients and the continued […]