Posts from November 2023

Japanese bar and grill concept Birdman is looking for suitable locations in Central London as it eyes its debut in the UK. Currently based in Athens, Greece, Birdman looks to pay homage to late-night Tokyo eateries and jazz bars, with a Japanese-inspired menu and drinks set to the backdrop of Hi-Fi Analogue music. The concept’s food menu includes the likes of gyozas, ribs, steaks, and various meats such as beef, chicken, duck, and seafood. Drinks on offer at Birdman include craft beers, Japanese whiskeys, and natural wines. As the concept looks to expand into the UK, Birdman is seeking units in excess of 700 sq ft in Central London to make its debut. Birdman is part of Green Garlic Management, a fast growing hospitality group based in Athens. Founded in 2008 by Ari Vezené, the group also operates Greek bistro concept Vezene and fast-casual Japanese concept Ekiben Kitchen. Richard Wassell of twentyretail has been appointed to find suitable locations.

Requirements

Newcastle’s Pilgrim’s Quarter development brought to market

A brand new mixed-use development in Newcastle has been brought to market. Located on the junction of Northumberland Street, Pilgrim Street and Blackett Street, Pilgrim’s Quarter comprises six retail units as well as over 650,000 sq ft of pre-let office space. The retail units range in size from 990 sq ft to 2,583 sq ft. Pilgrim’s Quarter also sits opposite Monument Mall, which is currently undergoing a number of changes including the potential development of a rooftop bar. The wider area is also set to undergo redevelopment, with re-surfacing of the surrounding streets and installation of street furniture set to be completed by 2025 to create a more attractive public realm. Ian Angus of @retail and joint agent Stephen Henderson of Savills have been appointed to market the property.

News

The Range lines up three new openings this week

The Range is set to open three new stores across the UK this week as it prepares for the festive period. The discount retailer – which recently acquired the rights to collapsed brand Wilko – will open stores in Cwmbran, Leamington Spa, and Chelmsford. The 30,620 sq ft store at Cwmbran Shopping Centre – which The Range has signed a 15-year lease for – was formerly home to Wilko. In Leamington Spa, The Range will occupy two combined units formerly occupied by Argos and Outfit at Leamington Shopping Park. The Range’s Chelmsford will occupy a former Debenham’s and becomes the retailer’s sixth store in Essex. The three new stores will offer products from Wilko’s product range. Wilko itself is set to make its return to physical retail, with The Range recently announcing plans to open five standalone stores before Christmas.

Deals

Romford’s The Brewery nearly fully let following Bunkers letting

The Brewery in Romford is now nearly at full occupancy following the letting to leisure operator Bunkers on a 15-year lease. Taking an 11,281 sq ft unit, the arrival of Bunkers leaves just one vacant unit – which is currently under offer – at the scheme. The competitive socialising venue is part of the Adventure Leisure Group – the operator of concepts such as Ninja Warrior UK, Mulligans, and Sidcup Family Golf. The group has 12 other locations across the UK, and is exploring its options in Ireland and other territories. Bunkers at The Brewery will offer activities such as mini golf, electro darts, virtual reality games, pool, and shuffleboard. The venue’s food and drink offering includes a selection of cocktails, beers, pizzas, and nachos. Bunkers will join an extensive food and beverage and leisure provision at the scheme, which is home to a 16-screen Vue Cinema, Namco, Zizi, Pizza Express, McDonalds, Starbucks, and Costa Coffee. Last year, Schroders Capital – which owns the asset alongside Zurich Investment Foundation Immobilien Europa Direkt – announced 14,642 sq ft of new lettings to tenants including Wagamama, Five Guys, and Turtle Bay. Rob Cosslett, fund manager at Schroders Capital, said: “Since the acquisition...

Deals News

Dune returns to Manchester Arndale

Dune has continued to expand its presence in the North West after making its return to Manchester Arndale. The footwear retailer has opened the doors to a 1,596 sq ft flagship store, after agreeing a five-year lease for the unit. Dune’s arrival brings the scheme’s occupancy rate to 95%. The store has been designed by the retailer’s in-house team, utilising polished materials, neutral colours, and marble and stainless steel finishes. Dune Manchester Arndale also features illuminated light boxes in the windows and within the store itself to showcase the brand’s imagery. Nigel Darwin, chief executive officer of Dune Group, said: “We are thrilled to be returning to Manchester Arndale with the opening of our new store. We know we have many fans of the Dune London brand and our fabulous shoes and bags in Manchester, and we’re excited to be part of this vibrant retail centre once again”. Dune’s arrival complements a number of recent retail lettings at the Manchester scheme including to The North Face, Sunglasses Hut, Nike, and Oseyo. Food and beverage operators at the centre include Black Sheep Coffee, Krispy Kreme Doughnuts, Lazy Sundae, Slim Chickens, and Jim Hortons. M&G Real Estate and Global Mutual act as joint asset...

Deals News

Newcastle’s Eldon Square set for revamp under new plans

Eldon Square in Newcastle could be redeveloped to create a leisure attraction and a cultural space under new plans drawn up by its management. The proposals would see 200,000 sq ft of vacant floorspace into a family leisure attraction, offering sports and entertainment, making use of the former Eldon Leisure Centre site. The venue – which will comprise around 120,000 sq ft of space – is set to offer arcade games, virtual reality, crazy golf, and electric karting, with a national family leisure operator already lined up to manage the centre. In addition, the top floor of the now-vacant Debenhams store will be redeveloped into a cultural space for a mixture of food, socialising, art, and music. Plans are already underway for a major national retailer to occupy two floors of the building. Cormac Hamilton, general manager of Eldon Square, said: “Since taking responsibility for the management of Eldon Square, we have worked hard to ensure that vacant retail space within the Shopping Centre is reoccupied by new retailers wherever possible. However, large units such as the former Debenhams have been purpose-built as department stores, which makes them difficult to re-let unaltered. “We are confident that we can soon announce...

News

Phase Eight and Hobbs open at Caledonia Park

Hobbs and Phase Eight have opened at Caledonia Park in Gretna, marking their first and second outlets in Scotland respectively. The two brands have opened a joint 3,000 sq ft unit in the centre of the scheme, adjacent to brands including Polo Ralph Lauren, Kate Spade New York, Radley London, and recent additions Tommy Hilfiger and Calvin Klein. Phase Eight and Hobbs at Caledonia Park offers a range of womenswear including coats, jackets, knitwear, shoes, bags, and accessories. Caraline Money, global group retail director at TFG Brands, which owns the two retailers, said: “The opening of Hobbs’ first outlet in Scotland is a huge milestone for us. Scotland, and Caledonia Park specifically, deliver so much potential and opportunity in terms of demographic and spend and we are excited to be part of a destination that is continuing to grow and evolve. We look forward to delivering Hobbs and Phase Eight’s timeless collections to a wider audience, just in time for the Christmas period.” Maria Averkina, asset and development manager at pension fund Railpen – the scheme’s investment manager – added: “The opening of Hobbs and Phase Eight further illustrates the growth that Caledonia Park has witnessed this year. It highlights...

Deals News

Goldsmiths reopens upsized Bullring showroom

Goldsmiths – The Watches of Switzerland Group-owned jewellery retailer – has reopened its showroom at Birmingham’s Bullring. This follows a substantial upsizing and refurbishment for the retailer at the Hammerson-owned scheme. The two-storey boutique spans 8,000 sq ft and is situated in a dual-sided corner showroom, featuring a glass wrap-around frontage and a dedicated entrance for the new Rolex area. Goldsmiths’ new-look store showcases individual branded areas for luxury retailers, including Cartier, TAG Heuer, TUDOR, and Hublot, as well as central watch cabinets displaying the likes of Chanel, Gucci, Oris, Tissot, and pre-owned models. The ground floor is home to a selection of renowned names in luxury jewellery, including FOPE, Messika, Roberto Coin, Mappin & Webb, and Jenny Packham, as well as Goldsmiths’ own collections. The Goldsmiths Bullring showroom has also introduced a premium hospitality bar on the first floor, as well as private consultation rooms, a pop-up jewellery space, a dedicated service and repair lounge, a watch makers room, and areas for polishing and cleaning. Toby Tait, director of asset management at Hammerson, said: “Goldsmiths’ significant upsize to create one of the largest stores within its portfolio is a clear sign that The Watches of Switzerland Group share our...

Deals News

NERF on target with Trafford Palazzo debut

Family leisure concept NERF AX – a collaboration between toy and games group Hasbro and Rocafella Leisure Group – has made its full debut at Manchester’s Trafford Palazzo. Following a soft launch, the 35,000 sq ft space now open seven days a week, offering four zones of NERF-themed leisure for both children and adults. The concept also includes a NERF store, selling merchandise, sports equipment, and toys. A food and drink offer is provided by Manchester-based Archie’s, with burgers, waffles, and milkshakes on the menu. Chris Hayes, Rocafella Leisure’s chief executive officer, said: “The UK hasn’t seen anything like this before, and Trafford Palazzo demonstrated a likened approach to launching debut leisure concepts, so we are delighted to be introducing the first-ever NERF AX here. We have worked exhaustively with our partners Hasbro to curate a first-class venue, one that will provide amazing experiences and memories for every guest.” Mark Whittaker, executive director of property investment and management at Peel – which owns and manages the scheme – said: “Trafford Palazzo is the UK’s first next generation experience centre, with a tenant line-up that combines leisure and retail in a way that cannot be found anywhere else in the country. “We...

Deals News

Wilko chair “devastated” over retailer’s collapse

The chair of Wilko has said she is “devastated” for letting down letting down the collapsed retailer’s staff, suppliers, and customers. Speaking to MPs on the Business and Trade Committee, Lisa Wilkinson – the granddaughter of the chain’s founder James – said: “I don’t know how to put into words how sad I am that we let down all our customers, all our team members, our suppliers, our advisers genuinely, I don’t know what you want me to say.” “Well, sorry was the one word I was looking for”, interjected Liam Byrne, the committee’s chair. Wilkinson replied: “You can have the word sorry, of course I’m sorry, if you wish me to say the word sorry – I thought devastated covered it. I apologise, I wasn’t trying to be clever.” Wilkinson is currently under fire from MPs after it was revealed that £77m was paid in dividends in the run up to Wilko’s collapse. This included £3m in dividends paid to trusts related to the founding family, although Lisa Wilkinson said she had not personally benefitted. The chain collapsed in August which saw some 12,000 members of staff at risk of losing their jobs. Poundland’s owner then took over the...

News

Wendy’s Guildford becomes chain’s first Surrey restaurant

Wendy’s has opened the doors to its first restaurant in Surrey in Guildford. The American burger chain has taken a 3,204 sq ft unit on North Street which was previously home to Mothercare. Opening on Tuesday morning, the restaurant’s offer includes its signature square burgers and desserts, as well as salads, vegetarian options, and a kids’ menu. JRK Restaurants are currently aiding the American restaurant’s UK expansion, including in Kingston-upon-Thames and Reading. The restaurant chain has been seeking both high street and drive-through locations in the UK. Savills acted on behalf of JRK Restaurants.

Deals

Zara opens in Bath’s SouthGate

Zara has made its debut in Bath after opening in the city’s open-air shopping destination SouthGate. The Inditex-owned fashion retailer has taken multiple units on SouthGate Place, comprising 32,000 sq ft of space over two floors. Zara joins the recently-opened 5,000 sq ft Goldsmith’s store at SouthGate, as well as Oliver Bonas which opened earlier this year. The retailers sit alongside retailers including Lululemon, Levi’s, Apple, Urban Outfitters, Franco Manca, and Comptoir Libanais. At the time of the signing, Kate Lea, head of shopping centre leasing at British Land, said: “ZARA’s decision to choose SouthGate for its first store in the city is a testament to the popularity of the destination, and the work we’ve done to make the centre as attractive and engaging for customers as possible.” The lettings have built on what was a strong first half of the year for scheme owner British Land, which saw 1 million sq ft of retail deals being signed across its portfolio. British Land and SouthGate joint owners Aviva Investors were advised by Cushman & Wakefield.

Deals

Wetherspoon adds more rooms to its Wolverhampton revamp plans

JD Wetherspoon has submitted revised plans for a pub in Wolverhampton which would see the creation of a further 25 hotel rooms and another floor. The group’s earlier proposals for The Moon Under Water – which were approved in September – looked to redevelop the pub to create a 72-bedroom hotel as well as a heritage centre. The pub giant had originally secured planning permission from the local council in March 2020 to add an additional floor to the pub as part of wider developments. If approved by the City of Wolverhampton Council, the revised proposals will also see the creation of an additional 21 hotel rooms in a newly-built fourth floor, plus an additional four rooms in an extension over an existing flat roof. The 40,000 sq ft space which sits above The Moon Under Water has lain empty for over 33 years after being home to an old Co-op store. The building, which sits opposite the Grand Theatre, is set to benefit from a redevelopment of Lichfield Street laid out in Wolverhampton Council’s centre transformation programme. City of Wolverhampton Council leader, councillor Stephen Simkins, said: “This revised planning application from Wetherspoon to develop additional hotel rooms on top...

News

Savills completes Nash Bond acquisition

Savills has acquired Central London-based retail agency and lease consultancy firm Nash Bond. Nash Bond – which was founded in 2003 by Mark Nash and Andrew Bond – has 11 directors and specialises in the retail, food and beverage, and leisure sectors. The firm works in both an agency and lease advisory capacity, with clients including major London estates such as Cadogan, Crown, and Portman, as well as developers and real estate investment trusts including Shaftesbury Capital, British Land, Crosstree, Great Portland Estates, Argent, Landsec, and Lendlease. Nash Bond also advises many UK and international funds, developers, and private investors as well as retailers. The Nash Bond acquisition will allow Savills to enhance the strength of its 20-strong Central London retail business, whilst enabling it to expand its global retail offer to clients. Savills’ Central London team has recently closed deals with Uniqlo and Footasylum on Oxford Street, and Gucci on Bond Street. Nash Bond will be rebranded to Savills with immediate effect. James Sparrow, chief executive officer of Savills UK and EMEA, said: “We are thrilled to have acquired this fantastic business that we have long admired with such a great reputation. We have seen a significant recovery in...

News

Vegan restaurant Hank’s Dirty opens permanently in Norwich

Vegan restaurant Hank’s Dirty has opened at Castle Quarter in Norwich on a permanent basis. The operator has taken a six-year lease for a 2,007 sq ft unit in the Timberhill Terrace area of the Norwich scheme. Hank’s Dirty was one of the original operators at the Norwich scheme’s Castle Social market hall concept when it opened in autumn 2022. The company behind the operator will retain use of the original unit to open the first outlet for its Top Dawgs & Desserts concept. The signing follows a period of record performance for Castle Quarter following its repositioning towards an increased leisure and entertainment offer. Notable additions to the scheme’s leisure offering include Boom Battle Bar, Putt Putt Noodle, Escape Hunt, and Vector VR. In addition, the eight-screen Vue Cinema has committed to a major refurbishment for 2024. Will Ashdown, asset manager at RivingtonHark, said: “The decision by Hank’s Dirty to open a standalone restaurant at Castle Quarter is hugely exciting, and reflects the success it has seen in its year within Castle Social. When we launched Castle Social, we envisioned it being a destination in its own right, incubating new concepts and giving opportunities to exciting pop-ups. The progression...

Deals News

Colliers seeks regeneration partner for Margate’s Winter Gardens

Colliers has been appointed by Thanet District Council to find a suitable development partner to help regenerate Margate’s Winter Gardens. The 51,000 sq ft Grade II-listed entertainment venue closed its doors in August 2022, however Thanet District Council has expressed a desire to bring Winter Gardens back to its former glory. The venue – which has hosted the likes of The Beatles and Laurel and Hardy in its storied history – is set to be redeveloped as part of the council’s £22.2m Margate Town Deal programme. The seafront venue comprises two performance spaces; the main hall has a capacity of 2,150 standing people whilst the Queen’s Hall can host 600. Paul Bugeja from Colliers Licensed & Leisure team said: “The council is seeking a partner which can honour the history of this venue, while also bringing it up to date and making it inviting to residents as well as visitors to Margate. We have seen how exciting regeneration plans for landmark buildings such as the Eastbourne Winter Gardens and De La Warr Pavilion, Bexhill have revitalised coastal towns. We’re looking to secure a partnership which has a vision to reignite the entertainment offering in Margate and deliver on the expectations...

News

Shaftesbury Capital completes £82m of asset disposals

Shaftesbury Capital completed £82m worth of asset disposals between July and mid-November, as the real estate investment trust (REIT) reports a strong start to the Christmas period. The REIT – which manages a portfolio across London’s West End – said the asset disposals were 12% ahead of its June 2023 valuation, with 5% of its total portfolio value initially identified to be recycled. During the period, Shaftesbury Capital saw high footfall across its West End estate, with customers reporting sales in aggregate 12% above 2022 levels and 16% ahead of 2019 levels. The REIT also said demand for its properties had remained high, with leasing activity in the second half of the year totalling 220 transactions worth £15.6m worth of rent. In the year to date, Shaftesbury Capital completed 440 leasing transactions, representing £30.2m worth of rent. The REIT said that vacancy rates had remained low at only 2.2%. Ian Hawksworth, Shaftesbury Capital chief executive, said: “Our excellent performance has continued into the second half, with a strong start to the Christmas trading period. The West End is one of the most vibrant global destinations with an unrivalled concentration of entertainment and cultural attractions. Footfall remains high and customer sales...

News

Cushman & Wakefield appoints partner to Capital Markets team

Cushman & Wakefield has appointed James Yates as partner in its UK Capital Markets team, leading the firm’s investment activity in Yorkshire and the North East. With 15 years’ experience in real estate advisory, Yates joins from Avison Young, where he was most recently a director in the firm’s Capital Markets team. He has advised a mixture of clients – including Aviva, CBRE IM, Copley Point Capital, M7, and local authorities – on a number of commercial property transactions across multiple sectors. Yates will be based at Cushman & Wakefield’s Leeds office, and will advise on the acquisition and disposals of commercial investments. Jeremy Beckett, head of National Capital Markets at Cushman & Wakefield, said: “We are thrilled to welcome James to Cushman & Wakefield. Our Capital Markets team is made up of specialists with a thorough understanding of capital sources and pricing in the market, as well as the evolving needs of occupiers and what that means for investors throughout the country. James’ experience and considerable local market knowledge will complement the existing team and further strengthen our first-rate investment advisory service for clients.” James Yates added: “It is an exciting time to join Cushman & Wakefield. The Yorkshire...

News

Mountain Warehouse eyes 50 new stores next year

Mountain Warehouse is targeting 50 new store openings in 2024 as it records all-time-high sales this year. The outdoor and camping retailer is opening a new store every week in the run-up to Christmas, building on its estate of 370 sites worldwide. Mountain Warehouse opened new stores in Swindon and Newark last week and will open shops in Lincoln, Hexham, and Stratford-upon-Avon before Christmas. The retailer has also opened three standalone Animal shops in the coastal towns of Padstow, Bude and Abersoch. Mountain Warehouse recently agreed to join Lancaster’s Marketgate shopping centre. This comes as Mountain Warehouse reported a record revenue of £371m in the year ending February 2023. This was a year-on-year increase of 22.6%, although the retailer recorded a loss of £1.5m due to increased costs. During the six months to 31 August 2023, the retailer saw its sales increase to £171m and its underlying profit reach £6.7m, bolstered by a wet summer which saw an increase in sales of waterproof jackets. Mark Neale, founder of Mountain Warehouse, said: “During Covid, there was a belief that nobody was ever going to go to a store again, and their days were numbered, but that’s proved to be completely wide...

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KLM makes partner promotion