Posts from October 2022

ZARA signs a new flagship store at British Land’s Glasgow Fort

19th October 2022

British Land has signed international fashion brand ZARA at Glasgow Fort, one of Scotland’s leading retail parks. ZARA will relocate from its current location to a 37,000 sq ft store, previously occupied by Topshop and Topman, doubling its footprint at the retail park. Ben Grose, Head of Retail Leasing at British Land, commented on the deal: “ZARA’s decision to double their footprint and open a flagship store at Glasgow Fort is a fantastic endorsement for the park. “Since the pandemic, we’ve seen retail parks become increasingly popular with retailers and their customers due to affordability of space, larger stores, accessibility and rapid growth of click and collect, which has helped drive strong leasing activity over the last 18 months.” Work has already started on the new store, expected to open in late 2023. ZARA’s new store will add to Glasgow Fort’s existing lineup of popular fashion brands, including Next, Mango, Marks & Spencer and River Island.

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Asda to launch first ‘Asda Express’ convenience stores

18th October 2022

Asda is to open its first convenience stores under the new ‘Asda Express’ brand. The first two stores will open in Sutton Coldfield on the 8th of November and Tottenham Hale on the 6th of December. The supermarket is planning to launch another 30 sites over the coming year as part of a ‘test & learn’ approach to developing their convenience model. The new shops will create around 500 jobs and stock around 3,000 products, including products from Asda’s premium Extra Special range and a selection of beers, wines and spirits. Customers will also be offered a range of hot and cold ‘food for now’ options from both Asda and partner brands such as Leon. Meanwhile, ‘food for later’ items will include ready meals and a selection of £10 meal deals for two people. Both stores will also offer parcel collection and return services and a rapid delivery service through Uber Eats. Mohsin Issa, Asda’s co-owner, said: “The launch of our first two Asda Express convenience stores is a landmark moment for our great business and a key step on our journey to bring Asda to more customers in more communities right across the UK. “The stores have been designed...

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Artists rendition of new Hudderfield library

Plans submitted to regenerate Huddersfield’s town centre

17th October 2022

Plans have been submitted by Kirklees Council for the £200m Cultural Heart project, which will completely revitalise Huddersfield Town Centre, create jobs and attract thousands of new visitors to the area. The proposal includes refurbishing the 1970 Grade II-listed Queensgate Market hall to create a new food hall. The 1940’s Huddersfield Library, also listed Grade II, would be refurbished to provide a dedicated museum space. The scheme also proposes a new community-focused library within a modern extension to the Queensgate market building, a new art gallery on Queen Street and a 2,200-capacity multipurpose entertainment and conference venue with a 350-space multistorey car park. The project team has invited tenders and aims to appoint contractors in March 2023 with the aim of getting underway in 2024. Councillor Graham Turner, Cabinet Member for Regeneration, said: “This is an important milestone for Huddersfield and the wider Kirklees district. We are extremely confident in our business case for the project. This is a game changing scheme that will provide a huge boost to our region and local economy, giving people many more reasons to visit and stay in Huddersfield town centre.”

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Knight Frank launches new leisure team headed by John Rushby

17th October 2022

Property advisor Knight Frank has launched a specialist leisure team headed up by John Rushby. Rushby joins KF as partner and head of specialist leisure, leading a new service line, which builds on the company’s property investment team. Rushby was previously with Colliers International, where he was head of specialist leisure, working across valuations and advisory in the space. While at Colliers, he valued Wimbledon’s All England Club, the Emirates Old Trafford, and a host of leading golf courses, theme parks and marinas globally. Mergers, acquisitions, corporate strategy, and security review work also form part of his skill set. Knight Frank’s new leisure team will specialise in business, portfolio, and operating asset valuations; deal origination; feasibility advice; business turnaround; security reviews; operational and operator selection services; consulting; and brokerage. Rushby, said: “As an emerging asset class, the specialist leisure market is growing as astute investors look to diversify their portfolios. Having worked in this field for a number of years I’m pleased to see the demand grow; this is an ideal time for Knight Frank to launch a dedicated team.” Shaun Roy, head of specialist property investment at Knight Frank, added: “We’re seeing more and more clients seek expertise in the...

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Redevco promotes Chris Fleetwood to Head of Global Asset and Development Management

17th October 2022

Redevco has promoted Chris Fleetwood to Head of Global Asset and Development Management as of November 1, 2022. Fleetwood joined Redevco in the beginning of the year and has now been tasked to further streamline the value creation activities of Redevco with its impact agenda. Andrew Vaughan, CEO at Redevco, commented: “As an urban regeneration specialist, Redevco is on a mission to lead the transformation of cities to ensure they are sustainable and liveable. Chris has built a strong track record in urban development over the last 20 years. This expertise combined with his insights in how to generate even greater impact, is crucial in fulfilling our mission.” Fleetwood will take over from Thierry Cahierre, who combined the function of Head of Global Asset and Development Management with his roles of Co-head Client & Fund Management and Fund Director for the portfolios of one of Redevco’s key clients. He will now be able to fully dedicate his time to the transformation and diversification strategy of the portfolio. Speaking on the promotion Fleetwood said: “This is an exciting step in further aligning our asset and development management teams across the group on our impact agenda and strengthening their ability to make...

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Battersea Power Station opens second phase

14th October 2022

Nearly 40 years after its closure, today the long-anticipated Battersea Power Station has re-opened its doors. The six-acre Power Station has been the second phase and centrepiece of a £9 billion development scheme to house more than 250 apartments, and more than 100 retail and leisure units. Electric Boulevard, a new high street and part of Phase 3 of the development, is also open to the public from Friday (15th October). The transformation of the landmark has been a “Herculean” task, says Simon Murphy, boss of the Battersea Power Station Development Company (BPDC). The four white chimneys were completed dismantled and rebuilt and the brickwork diligently restored by two firms that made bricks for the original building. Visitors can experience 360-degree panoramic views by travelling 357ft up the north-west chimney in a glass lift. The restored turbine halls span three levels, comprising; housing, shopping and dining. The Turbine Hall will be the place to go for premium fashion according to BPDC. Meanwhile, Hall B is home to an “eclectic” mix of contemporary brands. This is also where Control Room B can be found, which promises “electrifying cocktails in a historic setting.” Plans are far from over as the entire project...

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The Body Shop unveils new store at Battersea Power Station

14th October 2022

London’s Battersea Power Station will be home to a new workshop store by The Body Shop. The shop has been designed with a focus on community and includes an area where people can discover and be inspired by The Body Shop’s activist roots and environmental and social campaigns. Battersea Power Station is The Body Shop’s 38th workshop store of this kind in the UK and a further 20 are due to be refitted and launched by 2023. The shop also features a state-of-the-art refill station. Maddie Smith, managing director UK & Ireland at The Body Shop, said: “Our new Battersea store showcases the best of The Body Shop’s brand values, and marks a significant investment in bringing these to our customers through a physical store presence. “We want people to get talking, get inspired and get active in our spaces. We want our customers to have fun playing with our products but also have conversations about issues that affect them, helping us campaign to progress equality.”

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Aviva Investors provides £90m financing for Iceland’s largest UK distribution warehouse

14th October 2022

Aviva investors, the global asset management business of Aviva plc, has announced the completion of a deal to fund the development of a large, retail distribution unit at Omega Business Park in Warrington. Iceland Foods has pre-let the site on a 20-year lease, making it the company’s largest distribution centre in the UK, serving the north of England, north Midlands, and Wales. Aviva will provide £90m in funding for the cross-docking unit, the site of which totals more than 24 acres and will provide over 505,000 sq ft of gross internal floorspace. Omega Business Park is one of the largest distribution parks in northwest England, comprising 575 acres of land and conveniently located to take advantage of transport networks including the M6 and M62 motorways. James Stevens, Head of Real Estate Investment at Aviva Investors, said: “We are pleased to complete a deal which extends our programme of development across the UK, particularly on a high-specification asset in one of the country’s strongest logistics locations. The credentials and partnership with a high-quality developer and leading occupier serving an essential sector of the economy, give us confidence that it will deliver strong sustainable income returns over the long-term.” Mason Owen acted...

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Marks & Spencer accelerates store closures

13th October 2022

High street giant Marks & Spencer is to close one in four stores, replacing them with more than 100 Simply Food outlets. The retailer will close 67 of its “lower productivity, full line stores,” within the next five years. M&S now wants to try to achieve these changes in three years instead of five. Previously announced plans included M&S axing 110 large outlets as part of a portfolio overhaul. Marks & Spencer also said it will be opening 104 new Simply Food shops. The company wants to grow its successful food business but aims to have fewer stores as shoppers spend more online. M&S chief executive Stuart Machin said the retailer wants 180 “full-line” shops selling food, clothing and homeware products by early 2028, down from 247, equating to one in four outlets. Machin said: “We are creating a fit-for-the-future store estate, with shops in great locations, that help our customers shop the way they want to. “We’re seeing strong performances from our recently relocated stores and this gives us the confidence to go faster in our rotation plans, while at the same time investing in bigger and better food stores,” he said. No store location details have yet been...

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Gilly Hicks opens first standalone in Ireland at Victoria Square, Belfast

13th October 2022

Victoria Square, the leading retail and leisure destination positioned in the heart of Belfast, has announced that activewear and lifestyle brand Gilly Hicks has officially opened its first standalone store in Ireland. The store is located on the lower ground level of Victoria Square and follows the opening of Gilly Hicks’ Carnaby Street store in London earlier this year. Speaking on the new opening, Russell Banham, UK Head at Commerz Real, said: “We are pleased to announce the opening of Gilly Hicks at Victoria Square. We are confident that this highly awaited store will be a popular addition to our lifestyle offer. “Gilly Hicks joins a number of recently opened stores as we evolve our retail lineup, with many set to open in the coming months. We continue to be a key destination for Irish debuts, highlighting both the local and international opportunity within Victoria Square.” For more information, follow Gilly Hicks on Instagram, @gillyhicks, or visit www.gillyhicks.com.

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PureGym announces new site in Shirley retail park

12th October 2022

The 15,000-square-foot large box style gym will open on Tuesday, November 8th and offer fixed pin and free weights, a functional space, group workout studio sessions, and personal trainers. A spokesperson for PureGym said: “We are thrilled to be opening a brand new club in Solihull at the Sears Retail Park in just over a month. Opening at 12pm on Tuesday 8 th November, this brand new state-of-the-art gym will offer flexible, affordable fitness to the people of Solihull and the surrounding areas.” Plans for the seven-day-a-week gym were approved back in November 2020, despite some local fears it would be “like having a night club on the doorstep.” Much of the concern centred on noise from “powerful sound systems”, but Solihull councillors were convinced the noise would not be heard outside. See the full details from PureGym.

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Sainsbury’s unveil blueprints for commercial unit in Colchester

12th October 2022

Subject to planning approval, the project will now include an Argos Local Fulfilment Centre, a 15,000-square-foot gym, and a retail space. The new distribution centre will aim to provide residents with a selection of more than 20,000 goods for same-day home delivery or pickup from local Click & Collect locations. According to Sainsbury’s, if the proposal is approved, 100 additional employment will be generated. Job opportunities would be available in a variety of roles and levels in several operational divisions. Sainsbury argues that the project will keep the site busy after B&Q moved to Stane Retail Park last year. If the proposal is accepted, construction may begin as soon as later this year. A Sainsbury’s spokesperson said: “The proposals we are submitting represent a major investment into the Lightship Way area which will support local economic growth. A spokesman for Sainsbury’s said: “The proposals we are submitting represent a major investment into Lightship Way which will support local economic growth. “The vacant site will be put to good use and we look forward to listening to the views of the community as we move forward.”

Deals News

Swiss Butter requires space in Central London

12th October 2022

Swiss Butter is a Casual Steakhouse with six existing restaurants in Beirut, Dubai, Abu Dhabi and Riyadh. The concept is based on a choice of three mains: Beef Filet, Chicken or Salmon, all smothered in their secret Swiss Butter sauce. Since its inception in 2017, the Swiss Butter restaurant concept has been a huge success, based on the solid and proven experience of its founder and the excellent management team. The appeal of Swiss Butter is across the demographic scale and even in the trying economic times of the Covid pandemic, the business model has been shown to be resilient, achieving its forecasted revenues. They believe there’s a gap in the market for their unique and original restaurants and look forward to sharing their dishes and creating a vibrant and fun dining environment. Requirements Size: 1,850 sq ft, of which 1,250 sq ft must be a ground floor dining level/open kitchen, with 550 sq ft back of house. Full extract route required on ground floor. Locations: High footfall and high visibility office and residential area in: Contact Eddy Massaad: +971 58 650 2157 / eddy@i-manage.me

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Stärka expands teams as client roster grows

12th October 2022

Stärka, a leisure real estate advisory business founded by Sammy Jones and David Bell, has doubled in size with two new appointments as the business celebrates deals totalling over 400,000 sq ft so far this year. With 20 years’ experience in the UK and Australia, Richi Peters joins as a consultant after eight years running his own business. Richi brings with him a deep understanding of the leisure sector, and has previously worked at Savills and GVA. In his new role at Stärka, Richi’s specialist knowledge in tenant representation and acquisitions will provide creative property advice to new and existing clients. Richi Peters, consultant at Stärka, said: “The time was right for a new challenge, one that would give me the opportunity to help grow a business, and there is no better place to do that than Stärka. I have joined a very exciting agency with very forward-thinking clients. I am committed to delivering at a fast and effective pace, and look forward to bringing my expertise and experience to Stärka and its clients.” Since launching in January, the Stärka team has been instrumental in a large number of significant transactions and re-gears this year. Totalling over 400,000 sq ft, these include the 100,000 sq ft letting to Gravity at...

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Seven Dials welcomes innovative art retail concept, The Hook

11th October 2022

Shaftesbury has announced that The Hook, a unique art gallery retail concept, has opened its flagship London store in Seven Dials in the heart of the West End. Featuring a range of both established and emerging artists, across a variety of subjects and styles, the 1,588 sq ft space is located at 37A Neal Street, adjacent to Ollie Quinn. The Hook Seven Dials spans two floors and features their frequently updated collection of framed artwork. Designed to be a welcoming and open environment, the store is a gallery and also fully integrated with their online shopping experience, allowing customers flexibility in how they browse and shop. Brooke Freeman, Founder of The Hook, commented, “We are so proud to launch our flagship gallery and retail store on Neal Street. The Hook has an ethos that prioritises the customer’s experience and is designed to make art collections approachable and fun, and we feel this aligns well with the wider Seven Dials community. We are so excited to finally be able to welcome our customers to our Seven Dials location and bring a bit of The Hook’s creative personality to central London.” Samantha Bain-Mollison, Retail Director at Shaftesbury, added, “The launch of the largest store...

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Sleep.8 opens upsized flagship store on King’s Road, Chelsea

11th October 2022

Sloane Stanley has announced the opening of technology-led sleep smart brand, Sleep.8, in its newly upsized and refurbished flagship store at 362-368 King’s Road in Chelsea. The expanded store, which has more than doubled in size, has opened its new look 2,950 sq ft space on King’s Road. Designed by an in-house team, the store provides bespoke solutions for sleep-related challenges through eco-friendly products which are hypoallergenic and plant-based, providing advice and support from specially trained consultants. To compliment the boutique in-store ambiance, Sleep.8 has also collaborated with luxury lighting specialists, Timothy Oulton, another brand located on the King’s Road, on their lighting fixtures. This pairing provides customers with the ultimate creative inspiration for bedroom interiors. About Sleep.8 Sleep.8 are experts in sleep who believe that good sleep is the foundation of happy, healthy living. Their dream is that everybody can get their best 8 hours of sleep, every night. Sleep.8 is a part of the Hilding Anders Group, global leader in mattresses and bedding, with over 80 years of industry experience. Musi Chayla, Sleep.8’s UK CEO commented on the new opening: “We are very pleased to have launched our upsized Chelsea store, and it’s great to see the space...

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Watch: Ronald Nyakairu from LDC talks retail industry stabilisation

11th October 2022

On the 22nd of September Local Data Company released their latest report on retail and leisure trends over the first half of 2022. Speaking at the Completely Retail Marketplace 2022 event, Ronald Nyakairu, Head of Insight and Analytics at Local Data Company said: “We’ve seen a lot more resilience, we’ve seen a lot more occupiers now taking up space, particularly independents. Last year we saw independants grow and this has continued into the first half of this year.” The recent decline in closures Commenting on the reported decline in shop closures, he said: I think (retailers) have become a lot more resilient and a lot more nimble. This is also the first half year where we haven’t had a pandemic impact, we haven’t had any lockdowns, or any restrictions in terms of trading across the majority of the period.” “If you think of the challenges we’ve seen over the last two and a half years, I think it’s that critical time where they (ocupiers and landlords) need to have those open channels of communication. In a way the pandemic helped draw that line up where they had to work together to get these places back up, no one wants to...

Insights News

Telford Centre achieves major letting success

10th October 2022

Orion Capital Managers has announced a number of significant lettings at its Telford Centre, helping footfall recover to near 2019 levels at the 1 million sq ft destination. The demise of the UK-department store sector had resulted in House of Fraser, BHS and Debenhams all going into administration in Telford, leaving 220,000 sq ft – almost a quarter of the shopping centre – to let. Following an active asset management strategy led by Sovereign Centros, all three stores now have new occupiers. New occupiers Leading indoor adventure park operator Flip Out has taken on the 90,000 sq ft former Debenhams on a 15-year lease on 75,000 sq ft. Meanwhile, competitive socialising brand Boom Battle Bar has signed for the remaining 15,000 sq ft, also on a 15-year lease. Frasers have leased the 80,000 sq ft House of Fraser store on a 15-year lease to house a number of retailers including Game, USC and Evans Cycles. Meanwhile Danish retailer Jysk, Poundstretcher and inflatable park operator Inflatanation have between them taken 50,000 sq ft on 10-year leases at the former BHS unit. In addition, fashion retailer Vanilla is to open an 8,314 sq ft store, Pavers have signed a 10-year lease for...

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A guide to renting a shop in Glasgow

10th October 2022

Thanks to its cultural institutions and luxury shopping districts, Glasgow has the largest economy in Scotland. With 2 million tourists each year, the city is the perfect location for retail shops of all sizes. From humble beginnings as a small village, Glasgow now serves as Scotland’s sports and entertainment hub, a centre for the arts, and a diverse place to shop. It was named the European Capital of Culture in 1990 and hosted the COP26 Climate Change Conference in 2021. Now the sixth most popular tourist destination in the UK, Glasgow is a flourishing urban centre with enormous retail business potential and a great selection of shops to rent. Attractions Glasgow offers a wide variety of entertainment options. The Glasgow Botanic Gardens offer year-round greenery for nature enthusiasts to enjoy. The primary attraction and one of Britain’s largest glasshouses is Kibble Palace. It has a variety of rare orchids, Australian and New Zealand tree ferns, as well as species from the rest of the globe. Recognised as Scotland’s music capital, Glasgow offers a vast selection of entertainment options for music fans of all types. One such venue is the Theatre Royal, which performs a wide range of drama, dance, comedy, and...

Insights

Six household brands set to enter The Oracle

6th October 2022

Shoppers at The Oracle are set for an exciting lead up to Christmas this year with six new brands opening their doors at Hammerson’s retail and leisure destination in the heart of Reading town centre. GAIL’s, Marugame Udon, Oliver Bonas, Rituals, Charles Tyrwhitt and Boux Avenue will all enter the Reading market for the first time this year as the strength and calibre of The Oracle attracts household names to the region. The artisan bakery, GAIL’s which has grown in prominence across affluent neighbourhoods in London, will open its first bakery in Reading, offering handmade bread, pastries, cakes and coffee. With Christmas just months away, GAIL’s festive hampers and gift boxes will be a real treat for friends and family. With over 12,500 sites globally including in Asia and the US, Marugame Udon is an exciting Japanese noodle and tempura restaurant expanding across the UK. The new counter-service restaurant will transform the former Pizza Hut, bringing its open-style kitchen to The Oracle where customers can customise bowls of freshly-made udon noodles and choose their own freshly fried tempura. British lifestyle favourite, Oliver Bonas, has also opened its largest ever store at The Oracle. Spread over approximately 3,600 sq ft, the store boasts its diverse collection of clothing, jewellery,...

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