Posts from September 2022

Battersea Power Station and Curated Makers to support local independent businesses

30th September 2022

The Grade II* listed Battersea Power Station will host Curated Makers’ first pop-up shop in London on Friday, October 14, 2022. Curated Makers is a retail concept that connects regional independent artists and makers with the high street. The store will house more than 40 local, independent small businesses selling goods for the home, candles, apparel and artwork. The Manchester-based marketplace leader has staged a number of pop-ups in significant retailers and shopping malls, including John Lewis, M&S, Paperchase, and Next, since its 2017 launch. The firm is expanding after receiving the government’s Innovate UK Young Innovators award with an initial investment of £5,000 in 2020 and more recently with a Follow-on Fund of £50,000 in 2022. Battersea Power Station is expected to be one of the most exciting retail and leisure destinations in London with over 100 bars, restaurants and shops including Battersea Bookshop, a new standalone neighbourhood bookshop from specialist bookseller Stanfords opening on 14th October. A 24,000 square foot Arcade Food Hall from JKS Restaurants, office space, and a distinctive events and leisure offerings will also be included. This includes ‘Lift 109’, a chimney lift experience that will carry guests 109 metres to the top of the...

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JD Sports extends ties with Nike through loyalty programme

30th September 2022

Britain’s biggest sportswear retailer JD Sports Fashion has extended its links with Nike Inc through a deal that giving customers access to more of the U.S. brand’s footwear and apparel. On Friday the company said that it will be Nike’s first European retail partner for its Connected Partnership loyalty programme. JD customers in the UK would then be able to unlock reward bonuses, limited collections, and be able to participate in exclusive events. Commenting on the partnership, JD Sports chief executive Regis Schultz said. “JD and Nike have a long and successful history of working together as strategic partners to bring customers an exceptional product offering and seamless omnichannel experience.” “This mutually beneficial partnership enhances our strong customer connections through best-in-class retail experiences and early access both in store and online to a select range of additional Nike products. “This partnership – the first to launch in Europe – amplifies the combined strength of the Nike and JD brands with our shared consumers, by leaning into their behaviour and journeys and creating new, richer and more engaging experiences. “It provides further opportunity to inspire the emerging generation of aspirational consumers, who can continue to feel confident that they are being...

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Browns shuts Shoreditch store to focus on West End flagship

30th September 2022

Browns, the high-end British fashion retailer, closed its location in Shoreditch, East London to concentrate on its flagship store in the West End. The store at 21 Club Row originally opened as a pop-up in October 2017 as part of the luxury retailer’s “Nomad” roaming retail concept. However, it was “so successful that it stayed the course for longer than planned.” The company’s flagship location, on Brook Street in London’s West End, continues to be its main location in the city, and according to Browns, it is its “forever home.” “We were so proud to have had the location far longer than we had initially expected, which ended up being five years,” a Browns spokesperson told Drapers. They stated, “We have some really great plans for our flagship in the upcoming months, which will then give further insights into what is to come for Browns.” The brand’s official statement on their site: “Browns East was our Nomad debut and our longest-standing roaming retail concept boutique to date. Like all the best things, this had to come to an end – after five amazing years in Shoreditch, we closed the doors of Browns East on 11th September 2022 and continue to focus on and celebrate our...

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Shopping street in Manchester, with The Printworks in the background

A guide to renting a shop in Manchester

30th September 2022

Looking for shops to rent in Manchester? Here is what you need to know. Often considered England’s ‘second city,’ Manchester is the northwest’s largest and most-populated metropolitan area. It has the largest regional economy outside of London, making it an excellent choice for business and investment. Manchester is proud to be a city of culture, having reinvented its industrial past into an artsy, trendsetting present, with more music venues per capita than anywhere else in the country, as well as numerous libraries and cinemas. Theatres such as the Royal Exchange, Palace Theatre and Manchester Opera House, attract performers and spectators from all over the world. Hence, it is no surprise that Manchester is the third-most visited city by foreign visitors in the UK, after London and Edinburgh. Search shops to rent in Manchester. Attractions Together with its popular shopping destinations, Manchester’s tourist attractions draw in residents and visitors alike. The city has many free museums and galleries, including the Manchester Museum, Manchester Art Gallery, the Museum of Science and Industry, Imperial War Museum North, and the People’s History Museum. Manchester is home to two premier league football teams, and so the sport is often heavily associated with the city’s culture. Aside from watching football matches, there...

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Five tips on energy saving for businesses

28th September 2022

It’s time to save on energy. As the cost of living rises so do the costs of running a business and energy saving is the new buzzword in the business world. Not only is it good for the environment but, more importantly than ever, it can save you money as a business. And yes, it does take some effort on your part, but it’s not that hard to do and the rewards will be worth it. You just need to set up some systems to make sure you’re using energy wisely and smartly all year long. Here are five tips for establishing those systems: 1. Set up LED lighting LED lighting is an excellent way to save energy and money. These lights are able to last as long as 50,000 hours, which means they require fewer replacements than traditional bulbs. In addition, they are more directional in nature so you can direct them where you need them most, which in retail can mean better looking product displays. On top of all this, LED lights use less power than other types of lighting options and also use less electricity than incandescent bulbs do (which will provide you with greater savings). The...

Advice

Worcester’s Cathedral Square welcomes new operators to city’s premier F&B and leisure destination

28th September 2022

NFU Mutual, advised by asset manager Cube Real Estate, has agreed deals with bar operator The Botanist and leisure brand Mr Mulligans to take space at Worcester’s shopping and leisure centre, Cathedral Square. The 200,000 sq. ft scheme has undergone a major transformation in recent years to respond to changing consumer demand and the latest lettings strengthen its position as Worcester’s leading hospitality and leisure hub. Cathedral Square sits in the heart of historic Worcester, just opposite the cathedral. It boasts an impressive retailer line up including H&M, Next, Hotel Chocolat and White Stuff. KLM Real Estate are working with the owner to ensure that the scheme continues to respond to the needs of the catchment and further lettings which enhance will be announced shortly. The Botanist has added to Cathedral Square’s appeal by opening a 6,500 sq. ft bar and restaurant. The first floor which overlooks the open square draws in the crowds with its famous cocktails, food offer and live music, all within the brand’s leafy botanical-themed interior. Cathedral Square attracted The Botanist as a leading retail and leisure destination that focuses on a unique experiential offer. That broad appeal has also helped secure a letting to leisure...

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Boxpark chooses Liverpool for its newest site, set to open in late 2023

28th September 2022

Boxpark is moving to Liverpool and has unveiled plans for its new location, which will be the first Boxpark-branded building outside of London. The retail, leisure, and hospitality operator and Terracotta Asset Management Limited have agreed to a 15-year lease for the The Canning Hall site in the Baltic Triangle neighbourhood of south Liverpool. This property is a part of the Cains Brewery Village estate. With three locations in Shoreditch, Croydon, and Wembley, Boxpark Liverpool will be the first of its kind outside of London when it debuts in late 2023. Boxpark aims to unite communities, providing a range of excellent street food, drinks and entertainment from a variety of independent businesses, all under one roof. A tall warehouse structure with a portal frame that was constructed in the 1980s will be converted into a dining and entertainment destination in Liverpool. It has a large interior with units arranged over the ground floor, a small interior mezzanine, and an outdoor terrace. Since the mid 2000s, the area, which was formerly an old industrial zone, has established itself as a significant and expanding cluster of creative industries, offices, restaurants, bars, and leisure units. The proposals for Boxpark Liverpool will have about 10...

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Wetherspoons selling 32 of its pubs, including several in London (full list)

27th September 2022

Pub Franchise JD Wetherspoons has confirmed that it will sell a number of its London locations. 32 pubs across the UK, including nine in the London area, will be sold off with the help of CBRE and Savills. Wetherspoons, which owns around 800 pubs in the UK and Ireland, has stated that the decision to sell is commercial. They warned earlier this year that they ran the risk of losing £30 million after investing in property repairs and raising employee wages. Eddie Gershon, a spokesman for Wetherspoon, said: “On occasion Wetherspoon does put some of its pubs up for sale. “This is a commercial decision. We understand that customers and staff will be disappointed with it. The pubs will continue to operate as Wetherspoon outlets until they are sold.” Director at Savills, Paul Breen, said in a press release: “Following the success of our earlier marketing campaigns for JD Wetherspoon we are delighted to be launching these 32 properties to the market. These venues are well configured and fitted to a high standard which will make them appealing to a broad range of potential buyers.” Toby Hall, Senior Director at CBRE added: “The excellent mix of locations in this portfolio is rarely seen in...

News

Gymshark names ASOS exec as new CFO

27th September 2022

Mat Dunn, former chief operational and financial officer of Asos, has been appointed as Gymshark’s new CFO. After leaving the online fashion retailer last month, Dunn will replace departing CFO Philip Daw at the gym clothing company in early 2023. He will answer directly to creator Ben Francis in his new position and work to “transform Gymshark into the worldwide powerhouse and iconic brand he and all the senior leadership feel it can be.” Founder and chief executive Ben Francis commented: “In Mat, we are getting one of the best CFOs, not just in retail, but in business globally. His record for growth at ASOS, Britvic and SABMiller speaks for itself. He will bring a new dimension, both to our financial operation and Gymshark as a whole and he will undoubtedly help us grow into the company I truly believe we can be. I’d also like to thank Philip Daw for his service and the role he has played in building Gymshark into the company you see today.” Dunn is the most recent in a string of high-level hires that Gymshark has made recently, including Chief Product Officer Danielle Petesic from Lululemon, Chief Technology Officer John Douglas from Burberry, and Vice...

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Mike Ashley to step away from Frasers Group

26th September 2022

Mike Ashley is set to relinquish his director role on the Frasers Group board at the retail giant’s AGM next month, after his son-in-law Michael Murray assumed control of the firm earlier this year. Retail mogul Ashley won’t run for re-election at the AGM next month, Frasers announced in a statement on Tuesday. The firm, which owns Sports Direct, will get an extra £100 million ($114 million) in funding from Ashley under the same conditions as its borrowing arrangements. Since joining, Murray has concentrated on upgrading shops, and Ashley’s additional financing is intended to complement this approach of retail investment. Under Ashley, Frasers has developed from Sports Direct, the company’s flagship brand, which was originally best known for its “pile it high, sell it cheap” retail strategy. The group currently comprises high-end products from House of Fraser and Flannels as well as previous acquisitions Game, Evans Cycles and Jack Wills. Since Ashley stepped back, the corporation hasn’t yet lost any of its flare for acquisitions. Earlier this year Frasers bought online brand Missguided in a £20 million deal, raised its stake in German fashion retailer Hugo Boss AG and acquired a 28.7% stake in Australian fashion marketplace MySale Plc. The...

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Submission of planning application for Brookfield Riverside: new mixed-use town centre

26th September 2022

Borough of Broxbourne and Hertfordshire County Council, together with their development partner Sovereign Peveril, have submitted planning for the £500m Brookfield Riverside development. This comes as part of the wider Brookfield masterplan, at Cheshunt, Hertfordshire. Seen as a significant future economic generator for the region, the new town centre and garden village will deliver the 1 million sq. ft mixed-use town centre development and 1,500 residential dwellings within a comprehensive and green Brookfield masterplan. Brookfield Riverside, the new “out-of-town town centre”, will be a major mixed use sustainable destination with retail, leisure, food and beverage, hotel, civic uses, workspace, assisted living, mixed residential and parking for 2,000 vehicles. The adjacent Brookfield Garden Village has 1,250 new homes, a primary school, a neighbourhood centre and other council facilities needed in the area. One of the last areas in the UK to support a project of this size and concept, it is extremely well-located just north of junction 25 on the M25 London Orbital Motorway and alongside the A10. The New River, which was built in 1613 to supply London with fresh drinking water and flows through the site, will form a focal point of attraction for the leisure and restaurant elements. The development will see improved road and junction infrastructure, together with new cycling and pedestrian links to connect to Cheshunt. The new town centre meets all the requirements of the Local Plan to maximise street level activity and...

Deals News

Matalan appoints Nigel Oddy as interim CEO

26th September 2022

Nigel Oddy has been appointed the interim CEO of Matalan, replacing outgoing founder and chair John Hargreaves. He will begin working for the company on an interim basis on October 3, 2022. Oddy has extensive experience in top leadership positions in the retail industry, most recently as the CEO of New Look. Oddy joined New Look in 2019 and, while successfully managed the comapny through the COVID-19 epidemic. During his three year employment he also oversaw the execution of the brand’s omnichannel strategy and contributed to expanding its appeal throughout the mid-market fashion industry. Previous experience includes his time as CEO of The Range from April 2017 to April 2019, where he achieved record sales and increased profitability. Prior to 2017, he held many additional C-Suite positions at House of Fraser, Furnitureland, and Blacks Leisure. He also held a variety of senior roles at Marks & Spencer in the departments of buying, merchandising, and sourcing, giving him a comprehensive knowledge of the retail sector. Nigel Oddy, incoming Interim CEO of Matalan, said: “I am delighted to be joining Matalan and very much look forward to working with the wider team, which includes many long-established suppliers and franchise partners, as we progress with the execution of the growth strategy...

News

Roadside Retail Development Sold To LondonMetric

Godwin sells Uttoxeter roadside development to LondonMetric

26th September 2022

UK property developer Godwin Developments has announced the joint land, lease and investment sale of a roadside retail site in Uttoxeter to LondonMetric Property, the FTSE 250 listed real estate investment trust (REIT) for just under £2 million. The transaction is the second in as many years between the two businesses, following the May 2020 disposal of a roadside convenience site in Rushden, Northamptonshire. The deal includes a long lease with The EV Network, an independent EV charging infrastructure company, that will operate the site once built. The scheme will feature a Starbucks roadside retail store, six ultra-rapid EV charge points (150kW+), 26 parking bays as well as cycle storage and pedestrian access from the nearby Lidl food store. Godwin Developments acquired the site in November 2021 and secured planning permission for a new commercial scheme in July this year, alongside occupier commitment from Starbucks’ drive-thru franchise partner, The Magic Bean Company. Claudine Tracey, Associate Director of Commercial Development at Godwin Developments, said: “We’re really pleased to have completed the sale of our commercial scheme at Uttoxeter to LondonMetric. The deal highlights once again our ability to acquire land with attractive fundamentals, our expertise in securing planning consent and end...

Deals News

LXi REIT cancels £500 million purchase of 18 Sainsbury’s stores

26th September 2022

LXi REIT PLC announced on Monday that it will not move forward with the acquisition of 18 stores owned by J Sainsbury PLC, due to ‘current stock-market volatility.’ The market value of investment trust LXi REIT is approximately £2.5 billion. It is a part of the FTSE-250 index and invests in commercial real estate assets with lengthy leases that typically last decades. The issuing of new LXi shares was due to partially finance the £500 million purchase. However, LXi’s stock price has dropped 13% over the last five days, and on Monday morning, it was down 1.7% to 125.40 pence per share. Sainsbury’s shares closed the London market 0.3% higher at 193.50 pence each. LXi and Sainsbury’s announced the deal on 21st September. The stores, which are situated in the southern region of England, would have had a net initial yield of about 5.0% and would have been leased back to Sainsbury’s Supermarkets Ltd., according to LXi. Sainsbury’s stated that the cancelled sale has no effect on its financial forecast. The supermarket chain had planned to use the sale proceeds to buy 21 freehold Sainsbury’s supermarkets from the Highbury and Dragon portfolios. Sainsbury’s still anticipates that it will close these acquisitions in the...

News

Research shows retail and e-commerce shifting to the Metaverse.

22nd September 2022

New research by enterprise CMS company Storyblok has shown that retailer and e-commerce professionals are starting to take action in the Metaverse, whilst many brands are still debating what it even is. According to the study, more than 20% of companies are already extending their CMS to display content in Metaverse environments to highlight their branded products and images. The results Storyblok surveyed 208 retail and e-commerce professionals who directly manage enterprise CMS systems. The findings revealed that businesses are reporting that their CMS currently delivers content into alternative digital channels in addition to making room for the Metaverse. These survey results highlight consumers’ eagerness to explore novel digital spaces and the need for retailers and e-commerce websites to keep up. “A headless CMS architecture is by far the easiest way to deploy content to new channels as quickly as they arise, via simple APIs.” says Thomas Peham, Vice President of Marketing at Storyblok. The survey’s other major findings included a strong preference for using multiple CMS systems to support omnichannel customer touchpoints. Over 76% of businesses have already implemented more than one content management system, and just over 10% have implemented five or more. Cybersecurity concerns In light of growing cybersecurity concerns,...

Insights

Artificial intelligence (AI) in retail market expected to hit $40.74 Billion by 2030

20th September 2022

According to a recent study by Grand View Research, Inc., the size of the global AI in retail market is predicted to reach USD 40.74 billion by 2030, growing at a CAGR of 23.9% from 2022. The growth potential has been increased by the increasing popularity of cutting-edge technologies like voice recognition software and chatbots. Other key factors advancing the industry include the growth of online retail sales, increased focus on enhancing the customer experience, reliance on digital marketing, and supportive government regulations. Key findings Due to the increasing use of cutting-edge technologies, such as voice recognition software, the chatbots market is anticipated to grow at the fastest CAGR of 30.0% from 2022 to 2030. As data analysis increases and touchscreens and mobile interfaces become more popular, natural language processing (NLP) will develop as well. For instance, the use of NLP in sentiment analysis of customer messages, call centre interactions, online reviews, and social media posts will continue to be crucial. The Customer Relationship Management (CRM) segment held the largest revenue share in 2021, due to surging demand to boost customer retention and return on investments. CRM will also gain traction due to seamless communication, social media integration, and data collection...

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Sites required for Osprey Charging Network’s nationwide EV hub roll-out

20th September 2022

Osprey Charging Network are seeking freehold and leasehold sites located on arterial and trunk roads, in retail parks and town/city centres. This is a fully-funded opportunity for landlords and developers to have installed cutting-edge ultra-rapid EV charging technology at no cost. Requirements Leasehold sites Development partnerships Freehold Sites Osprey is a leading rapid charging network as voted by EV drivers with sites located across the United Kingdom. The Osprey network is open to all rapid charging EVs, leading the market in roaming and interoperability agreement with contactless payment available on every chargepoint. With market-leading technology, 24/7 customer service and a high network uptime, Osprey is a leading UK charging network as voted by EV drivers. Osprey is funded by two leading global investment businesses, Investec Bank and Cube Infrastructure Managers. Contact Richard Price: 07773 723971 / richard.price@ospreycharging.co.uk Alex Lomas: 07802 908384 / alex.lomas@ospreycharging.co.uk Patrick Sherriff: 07557 050111 / patrick.sherriff@ospreycharging.co.uk Stephen Bates: 07899 834034 / stephen.bates@ospreycharging.co.uk Andrew Nosworthy: 07493 684308 / andrew.nosworthy@ospreycharging.co.uk

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Pound drops as concerns about a UK recession are fuelled by weak retail sales

16th September 2022

A drop in retail sales last month sparked heavy selling of the pound on global money markets, pushing it to a 37-year low against the dollar, as investors feared that the British economy had already entered a recession. The Bank of England is due to raise interest rates next week, which will cause average UK wages to continue to lag behind rising prices. As a result, sterling dropped more than 1% against the US dollar to $1.135, its lowest level since 1985. The pound also hit a 17-month low against the euro on Black Wednesday, the 30th anniversary of the day the UK abruptly left the European Exchange Rate Mechanism, with €1 being worth 87.66p. Retail sales fell by 1.6% in August compared with July – more than anticipated Retail sales in Great Britain were being impacted by rising prices and cost of living, according to the ONS, and economists warned that there were signs that the economy was already in a recession. The government’s $150 billion energy price freeze plan, according to economist Olivia Cross of Capital Economics, is expected to make the UK recession shorter and milder, but all the signs point to the economy already contracting. “The 1.6%...

Insights News

GCW makes key appointments

14th September 2022

GCW has announced a trio of appointments as it continues to strengthen its team. The agency has welcomed a number of new recruits in recent months and the latest arrivals will play a key role in helping GCW meet growing client demand for its town centre expertise. Will Mabbett is joining the Occupier Team in October as Director. He brings with him 10 years of experience in working with a broad range of national and international retailers on their UK store portfolios. He is joining from Harper Dennis Hobbs. John Eden has been appointed as an Associate Director specialising in lease advisory work for both property owners and occupiers on high street and shopping centre assets across the UK. He was formerly at JLL. Meanwhile, Ben Legard joined the busy Investor Team as Senior Surveyor. Having previously worked at CBRE, Ben will be working on both national acquisitions and disposals. GCW Managing Partner Duncan Kite said: “Building our talent base is a top priority for GCW as we continue on our expansion drive. We are delighted to welcome our latest recruits who really build on our capabilities and will help deliver our growth strategy. It’s always great to bring in...

News

Cornish Bakery appoints KLM Real Estate to deliver on UK-wide expansion

13th September 2022

Cornish Bakery, one of the fastest growing, independent bakery brands in the UK, has appointed KLM Real Estate to support its ambitious plans for expansion. Founded by Stephen Grocutt, starting with one location in Mevagissey, Cornwall, the company now trades from 56 locations across the whole of the UK. The main product categories are breakfast pastries, lunch range of pizzetta, focaccia and toasted sandwiches, Cornish Pasties, cakes and artisan coffee. The company is performing very well and sees an opportunity to grow its estate to 100 branches. Stephen Grocutt says: “Bakery is the new coffee shop. We are building one bakery at a time in character buildings in quality locations. Each bakery is designed differently which reflects our true independence and respects its location. Our purpose is to nourish people. We already have the highest net promoter score and employee net promoter scores in our industry additionally we empower all our bakery teams to support and nourish their own local charities and organisations. “We have a winning formula and look forward to working with KLM Real Estate to identify a raft of great new bakeries around the country.” Cornish Bakery is keen to gain a presence within UK market towns...

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