Posts from November 2023

Calvin Klein has opened the doors to a new store at Blanchardstown Centre in Dublin. Located on the scheme’s second level, the luxury brand’s store spans 2,000 sq ft and sits adjacent to menswear brand Fields and largest Zara store in Ireland. The arrival of Calvin Klein follows a number of arrivals at Blanchardstown Centre in recent months, including Nike Unite, Lego, and Flannels. Sharon Walsh, leasing director at scheme asset manager Falcon AM, said: “It is great to see another globally recognised brand open a store at Blanchardstown Centre. “Calvin Klein will serve to further broaden our luxury fashion offer – speaking directly to demand from our catchment. The store will act as a real draw as we enter the festive shopping period. “The Irish market more broadly remains resilient, and we look forward to giving further positive updates in the months ahead.”

Deals

Huddersfield HSBC to relocate to shopping centre

HSBC is set to open a flagship branch at Kingsgate Shopping Centre in Huddersfield next spring, with WD Group letting a 4,000 sq ft unit to the bank on a 10-year lease. Sitting at the heart of the scheme, HSBC will be located close to Next and the recently-opened Deichmann and Bodycare stores. The letting to HSBC follows a raft of activity at Kingsgate Shopping Centre, with work already underway to deliver a 100,000 sq ft leisure and entertainment development. HSBC will be relocating from its current Huddersfield premises on Cloth Hall Street and New Street, and plans to invest significantly into the new branch to provide greater accessibility for customers with disabilities. Peter Everest of WD Group said: “The relocation of HSBC into the Kingsgate is a huge endorsement of the centre and the broad and vital role it plays within the community.” Last year, HSBC announced that it would be closing 114 of its branches nationwide, as the banking giant said footfall levels showed no sign of recovery. WD Group was advised by Newns Webster and KLM Real Estate.

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The O2 to welcome Under Armour for London Outlet debut

Outlet Shopping at The O2 is set to welcome Under Armour for its London outlet debut. The sports apparel brand will open in a 3,949 sq ft unit on the scheme’s lower level in early December, joining neighbouring stores Nike and Adidas. Under Armour at The O2 will stock a selection of apparel for men and women, as well as accessories and footwear. The store will reflect the brand’s new ‘Factory House’ retail concept which looks to deliver an elevated shopping experience. Under Armour will join a number of sportswear brands at The O2 including Nike, Adidas, ASICS, and New Balance, as well as a number of retailers such as the recently upsized Levi’s, Calvin Klein, and Tommy Hilfiger stores. Louisa Dalgleish, leasing director at Outlet Shopping at The O2, said: “The sportswear and athleisure market has experienced exponential growth in the last few years and is a key part of our retail portfolio, which we are continually striving to grow and evolve. Together with our ongoing success in terms of sales and footfall, as well as Under Armour’s burgeoning presence in the market, it will be a fantastic addition to Outlet Shopping at The O2, and we are proud...

Deals News

Luxury perfume house launches Covent Garden flagship

Luxury perfume house Creed has opened a flagship store at Covent Garden, Shaftesbury Capital has announced. The 365 sq ft store at 14 King Street features a new store design and is the brand’s third standalone boutique in the UK. Creed Covent Garden presents the brand’s most extensive product range yet including rare exclusives, and features a service area offering bottle engraving, gift wrap ribbon personalisation, and leather monogramming. The brand joins a number of fragrance brands already established at Covent Garden including Aēsop, Chanel, Diptyque, Guerlain, Jo Malone London, Le Labo, Miller Harris, Parfums de Marly, and Penhaligon’s. Michelle McGrath, executive director of Shaftesbury Capital, said: “Creed’s innovative and timeless approach to perfumery is a leading example of the calibre of brands we always seek to attract to the destination. Covent Garden’s carefully curated blend of internationally renowned and independent concepts continues to make the destination stand out across the market, and we look forward to seeing the bespoke King Street flagship boutique flourish amongst our strong tenant line-up.” The openings follows a number of flagship announcements at Covent Garden, including outdoor apparel brand Arc’teryx, which will open an 8,000 sq ft space next year, and the recent opening...

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M&S opens Lakeside store as expansion continues

M&S has opened a 97,000 sq ft store at Lakeside Shopping Centre in West Thurrock, as the retailer continues its busiest month of expansion. The store features a market-style M&S Foodhall, as well as clothing and home and beauty departments, and a 140-seat café. The Lakeside store is part of an £80m investment into the retailer’s “biggest ever” month of openings in November. M&S is looking to become the UK’s leading omnichannel retailer, pivoting its estate from 247 stores to 180 higher quality, higher productivity stores, whilst also opening 100 food sites by the 2027/28 financial year. The Lakeside store features a clothing department with menswear, womenswear, and childrenswear from M&S brands such as Per Una, Autograph, Goodmove, and Jaeger. Meanwhile, the M&S Foodhall offers food from M&S’s own farms, a bakery, and a dedicated wine shop. As part of a £20m investment by Lakeside, the store will also be serviced by an enlarged entrance from an upgraded car park, granting improved access. Steve Gray, head of European retail asset management at Global Mutual, said: “Lakeside’s new M&S store has been long-awaited by our guests and we are delighted to see the doors open today – just in time for the...

Deals

Calvin Klein opens at Dalton Park outlet centre

Calvin Klein has opened at the North East’s largest outlet shopping centre, Dalton Park in County Durham. Global Mutual, which manages the shopping destination, said the arrival of Calvin Klein is a step forward in expanding the brand mix and providing visitors with more choices at Dalton Park. The store stocks a range of denim, underwear, and loungewear items for men and women. The opening follows a record breaking 2022 for Dalton Park, which saw a notable increase in footfall and spend. Sales increased by 14.5% last year, with customers buying higher ticket items. During Calvin Klein’s opening weekend, footfall at Dalton Park increased by 47% on Friday 3 November and 21.6% on Saturday 4 November. Richard Kaye, centre manager at Dalton Park, said, “The introduction of Calvin Klein to Dalton Park is a huge step forward in our strategy to diversify the brand mix. Given its global status and acclaim, there is no doubt the brand will help enhance and evolve the shopping experience and drive even more customers to the destination, and we’re already seeing impressive numbers. It is great to see designer fashion continue to arrive at Dalton Park and we are looking forward to seeing what the future of our centre holds.” Nicky Lovell,...

Deals

Frasers Group opens multi-brand store at Metrocentre

Frasers Group has opened the doors to a multi-fascia store at Metrocentre, bringing three brands to the Gateshead shopping centre. The three brands have opened in the former Debenhams unit, with Flannels and Sports Direct both taking 50,000 sq ft whilst Everlast Gyms has taken 37,000 sq ft of space. The flagship Flannels store offers brands such as Creed, Tom Ford, and Dolce & Gabbana Beauty, as well as its first ever home section in a regional mall. Sports Direct brings a number of Frasers Group brands to Metrocentre, including USC, Evans Cycles, and GAME. The store features dedicated areas for running, football, and outdoors. It also brings the retailer’s new running concept to Metrocentre, which was first launched at Sports Direct’s Manchester flagship. Accessible through sports direct, Everlast Gym’s Metrocentre location will be its 10th and largest hybrid gym to date. The gym is home to a bar, saunas, chill tubs, physio rooms, and a full size boxing ring. The Debenhams site is not the first ex-department store to be repurposed at Metrocentre, with the transformation of the former House of Fraser site into an NHS Community Diagnostic Centre. Ger Wright, Managing Director Sport at Frasers Group, said: “We...

Deals News

King Pins strikes Manchester Arndale deal

Manchester Arndale is set to expand its leisure offering after striking a deal with local bowling concept King Pins. The operator has agreed to a 20-year lease for the 28,890 sq ft former Sports Direct unit, which will become King Pins’ second location in Greater Manchester. The venue will also offer a range of other activities, such as curling, shuffleboard, batting cages, pool, ping pong, and karaoke. Food kiosks will also be available where visitors can enjoy cocktails, slushies, craft beers, and sweet treats. King Pins will be Roxy Leisure’s second letting at Manchester Arndale, following the opening of sister brand Roxy Ball Room a few years ago. Steve Gray, head of European retail asset management at Global Mutual, said: “Leisure and entertainment operators are increasingly becoming key features of UK shopping destinations and are helping to draw in more visitors from a broader catchment group seeking social activities. It is therefore great to work with Roxy Leisure again on a second family-orientated leisure offer following the success of Roxy Ball Room. King Pins is a growing and already popular local brand, and we expect their offer to appeal to visitors once they are open. “The arrival of King Pins...

Deals News

JD Sports doubles Bullring presence

JD Sports has doubled its presence at Birmingham’s Bullring & Grand Central, after opening the doors to an upsized store at the scheme. The store spans 27,500 sq ft and is the sportswear retailer’s biggest opening this year. It features dedicated areas for brands including Adidas, Nike, Under Armour, The North Face, and Berghaus. Scheme owner Hammerson said the signing is reflective of its strategy to enliven its estate with high profile brands, concepts, and market firsts. Toby Tait, director asset management at Hammerson, said: “JD’s upsize is a testament to the attractiveness of Bullring & Grand Central and the continued ‘flight to quality’ we are experiencing across our portfolio, with high-profile brands seeking the very best locations. Our strong pipeline demonstrates the success of our strategy and the confidence we have in evolving and future proofing our assets to attract the best quality brands and concepts.” JD Sports becomes the latest in a number of retailers to join Bullring and Grand Central, following the signings of Nike Rise, Bershka, Pull & Bear, Watches of Switzerland, and M&S. Leisure concepts which have recently opened at the scheme include Sandbox VR and bowling brand Lane7, as Hammerson looks to diversify the...

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CBRE appoints Savills director to lead Northern retail team

CBRE has appointed Stephen Proudley as executive director and head of Northern retail. Proudley will be responsible for spearheading the firm’s retail offering in the North, and will look to develop CBRE’s position in the sector. He joins from Savills, where he spent over five years as a director in the firm’s retail team. Prior to this, he worked as head of North West Transactional Agency at Lambert Smith Hampton following its acquisition of Tushingham Moore in 2015. Proudley was one of five equity partners at Tushingham Moore, joining the firm in 1997. He has advised on a number of large occupier transactions and acquisitions across the shopping centre, out-of-town, and high street sectors, working with clients including Primark and Next. John Ogden, managing director for the North at CBRE said: “Stephen brings with him a wealth of experience and has become a recognised, trusted advisor to many leading retailers, notably in the North. His appointment adds regional depth and gravitas to our 125-strong retail team at a strategic, senior level, further enhancing our ability to provide best-in-class service to our clients.” Stephen Proudley added: “It’s an exciting time to be working in the retail sector, following years of rapid...

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Lunson Mitchenall advises on trio of transactions

Property investment firm Lunson Mitchenall has advised on a trio of transactions totalling just under £25m in recent months. This includes the sale of Gardiner Place in Henley to a private company on behalf of Catalyst Capital for around £5m. The mixed-use asset comprises over 28,000 sq ft of retail, leisure, food and beverage, and residential space. Lunson Mitchenall also advised on the acquisition of the Grange and Pyramids Shopping Centre in Birkenhead on behalf of Wirral Borough Council. The 586,000 sq ft asset was acquired for £10m and forms part of the local authority’s redevelopment plans. Knight Frank acted for the vendor, Mars Pension Fund. The disposal of Riverside Shopping Centre in Hemel Hempstead on by Lunson Mitchenall completes the transactions. DS Real Estate, which was advised by Savills and Lewis & Partners, acquired the 278,000 sq ft scheme for £8m from Abrdn, and are planning to convert the former Debenhams unit to a residential use. John Griffin, head of Lunson Mitchenall’s investment team and managing director, said: ‘’Investors recognise the appeal of the retail and leisure market, a sector that has seen huge rental and capital value repricing over the last few years. “Investors are conscious that rents have...

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Former Bedford Debenhams store handed £3m price tag

A former Debenhams store in Bedford has been brought to market with offers in the region of £3m invited. Property consultancy firm Kirkby Diamond has been instructed to find a buyer for the 75,377 sq ft building by Kroll Advisory. The property has potential for mixed-use development and the addition of further floors. It is currently fitted out as a department store, with a large basement and additional storage space on the fifth floor. Nathan George, associate and head of agency at Kirkby Diamond, said: “Although the demise of Debenhams was a sad moment for Bedford town centre it means that a long-awaited opportunity has arisen to acquire a historical piece of the town centre. “The former Debenhams department store provides accommodation over six levels and we are of the opinion that the property would best suit redevelopment of the upper floors to residential and splitting of the ground floor into multiple retail or leisure units, subject to planning. “Bedford Borough Council has continued its proactive approach to economic development across the borough and will be supportive in promoting the site as a viable development opportunity. “The site has been included in the upcoming Local Plan which considers how a...

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Frasers Group acquires Yorkshire outlet shopping centre

Frasers Group has acquired an outlet shopping centre in Yorkshire from Landsec in a deal worth over £45m. Junction 32 in Castleford spans 250,000 sq ft and comprises over 90 stores, with tenants such as Adidas, M&S, Nike, and Next. The purchase is the latest in a long line of acquisitions for Frasers Group, which has upped its stake in a number of retailers and snapped up retail assets such as Luton’s The Mall over the last two years. Landsec purchased Junction 32 in 2017 from Hermes Investment Management, along with two other outlet centres for a total consideration of £333m. It was put on the market during last winter as it does not fit within Landsec’s latest strategy of focusing on London offices, big retail destinations, and mixed-use urban destinations. Global Mutual, CBRE, and law firm Denton advised Frasers Group on the outlet centre purchase. Andrew Henderson, real estate partner at Dentons, said: “We are delighted to have advised longstanding client Frasers Group on its latest investment in bricks and mortar retail. Frasers Group has a strong commitment to physical retail and a track record of investing in interesting and value add opportunities in retail. The acquisition was another opportunity for our...

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The Body Shop snapped up for over £200m