Posts from December 2023

Wilko returns to high streets ahead of national roll-out

4th December 2023

Wilko has opened new concept stores ahead of a national roll-out, following its exit from British high streets earlier this year. CDS Superstores, which owns The Range, has opened new stores in Plymouth and Exeter, with another branch in Luton set to open soon. The retail group acquired Wilko’s brand and intellectual property in September. Former Wilko employees have been prioritised in the recruitment process for the new stores, with the branches in Plymouth and Exeter welcoming three quarters and a third of returning employees respectively. Alex Simpkin, chief executive of CDS Superstores, said: “The customer reaction to the new stores opening today has been fantastic and proves we’re doing the right thing in returning this much-loved retailer to UK high streets.” CDS Superstores will continue the roll-out of the Wilko brand in 2024, with the retailer also set to open its first stores in Northern Ireland.

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Majestic Wine makes appointments to new property roles

4th December 2023

Majestic Wine has strengthened its property team with two appointments to newly-created roles. Stuart Williams will return to the business to take on the role of director of estates and acquisitions. His responsibilities will include finding new stores and managing existing leases. He will begin the role in January, and joins from Travelodge where he is currently head of estates. Williams had previously spent 20 years at Majestic Wine – including 10 as property director – before leaving in 2016. He has also held senior property roles at Sofa.com, The White Company, and GAME. Majestic’s current director of property, Andy Latham, will move to the newly-created position of director of format development and new store operations. Also beginning in January, his new role will focus on planning and fitting out the wine retailer’s new stores as well as managing its reinvestment into its existing estate. Latham joined Majestic Wine in 2021, having previously held senior property roles at Woolworths, Boots, and Kingfisher. Majestic Wine chief executive John Colley said: “I am delighted that Stuart has agreed to rejoin Majestic, overseeing our store acquisition strategy. He brings with him a huge amount of retail and property experience, as well as an intrinsic...

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Ted Baker set for expansion after securing funding

1st December 2023

Ted Baker is looking to grow its presence after its retail and commerce operator secured a long-term lending facility. The fashion retailer’s operator, No Ordinary Design Limited – part of the AARC Group – secured the facility from asset-based lender Secure Trust Commercial Finance. No Ordinary Design Limited said the facility will provide a “platform for growth” for Ted Baker. Last year, Ted Baker was acquired by US-based conglomerate Authentic Brands for £211m. In June, AARC Group – which is based in The Netherlands – became the operator of Ted Baker’s stores, concessions, and website in the UK and Europe. No Ordinary Designer Label Limited and AARC Group CEO Carlos Radulovitch said: “After securing the licence to Ted Baker operations in the UK & Europe, we’re focused on revitalising the business to its full potential and we are pleased to have secured a partnership with retail specialists Secure Trust and Modella to join us on this journey to growth. “We are optimistic about Ted Baker’s bright future, working collaboratively with Authentic and the wider network of Ted Baker licensees.” Earlier this year, Authentic Brands secured a £394.1m investment from global growth equity firm General Atlantic.

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Pizza Punks to raise funds for expansion drive

1st December 2023

Pizza Punks has appointed FRP Corporate Finance as it looks to raise funds for an expansion drive which would see it open a number of new sites. The pizza restaurant chain – which was founded in 2015 and currently operates in eight UK locations – is looking to open sites in Edinburgh, Manchester, Cardiff, and Birmingham next year. The chain also has plans for further openings in four other major university cities. Stevens, chief executive of parent company Hell Yeah Hospitality Group, said: “We are extremely excited about where Pizza Punks is at, both as a brand and a business, and the opportunities it has for significant further growth. “We’ve seen very strong sales across the entire Pizza Punks portfolio, which has driven record sales for us recently. This has come off the back of exceeding our budget expectations, as well as getting our labour and cost of sales into a healthy position during our last financial year. “We have reviewed our options for expansion and have identified the next cities we are keen to bring the Pizza Punks experience to, working closely with FRP to identify funding options for our next stage of growth into Edinburgh, Manchester, Cardiff and...

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Greek-inspired restaurant Vezené seeks London location

1st December 2023

Greek-inspired restaurant Vezené is seeking units in London as it looks to open its first UK location. With sites in Greece’s Athens and Santorini, Vezené offers a menu featuring local seafood, sustainable meats, and Greek wines and cocktails. The concept’s target audience includes local Londoners, international expats, and visitors from around the UK and overseas. Vezené is seeking London locations which can be split across multiple areas, with the ground floor able to benefit from an open kitchen, banquette seating, and natural lighting. A lower floor will provide a more intimate and moodier setting, with a bar area and private dining options. The concept is part of Athens-based Green Garlic Management, which is headed up by renowned chef Ari Vezené. The group also operates Japanese fast-casual concept Ekiben Kitchen, and Japanese-inspired bar and grill Birdman, which is also seeking a London debut. Richard Wassell of twentyretail has been appointed to find suitable locations.

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French Connection joins Manchester Arndale fashion line up

1st December 2023

French Connection is set to open at Manchester Arndale, joining a growing fashion offering at the scheme. The retailer has agreed a five-year lease for a 2,189 sq ft unit, and will offer a range of clothing, accessories, and footwear for both men and women. The signing of French Connection at Manchester Arndale follows a flurry of lettings to fashion brands at the scheme. Names such as Dune, The North Face, Nike, Moss, and Sunglasses Hut have all recently joined the scheme, whilst Oseyo and Tortilla have bolstered the centre’s food and beverage offering. The Manchester scheme also recently announced a significant upsize from River Island, as well as lease renewals from The Watch Lab, Thomas Sabo, and Claire’s. Steve Gray, head of European retail asset management at Global Mutual, said: “We’re delighted to welcome French Connection to Manchester Arndale as we continue to attract top tier brands that cater to Manchester’s stylish clientele. With the centre now over 95% let, and brands like River Island and Thomas Sabo committing their future to the centre, we are confident in our ability to consistently deliver a premier retail experience.” M&G Real Estate and Global Mutual act as joint asset managers of...

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Seven Dials welcomes flurry of new brands

1st December 2023

Shaftesbury Capital has welcomed five new brands to the Seven Dials shopping destination in London’s Covent Garden. Making their bricks-and mortar debuts are independent British womenswear brand Odd Muse and jewellery brand Missoma, which have opened flagship stores at 44 and 46 Monmouth Street respectively. Missoma’s permanent Seven Dials store follows a successful pop-up at Covent Garden’s Market Building earlier in the year. Also joining Monmouth Street is gourmet liquorice brand LAKRIDS BY BÜLOW, which has opened a new store offering handcrafted confectionary and gifts. Opening on Seven Dials’ Neal Street in the coming weeks is French men’s skincare brand Horace, which will make its UK debut at No.29. Meanwhile, British shoemaker Loake will be opening a store early in the new year at No. 62. The two brands join a number of established brands on Neal Street, including Space NK, Birkenstock, and jewellery brand Astrid & Miyu. Michelle McGrath, executive director, Shaftesbury Capital, said: “Our Seven Dials neighbourhood continues to evolve into a hotspot for innovative concepts, independent stores, international flagships and the best of British, with the latest arrivals of Odd Muse, Missoma, Lakrids, Horace and Loake being testament to this. “It is a huge vote of confidence...

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Rochdale shopping centre to be sold at auction

1st December 2023

Rochdale Exchange Shopping Centre is to be sold at auction with a guide price of at least £3.5m. The Rochdale scheme extends to 284,137 sq ft and is home to tenants including Costa, Poundland, Iceland, Holland & Barrett, Greggs, and Home Bargains. The asset also contains two markets, which are currently under offer to a global fast food chain for a drive-through restaurant. The scheme – which occupies a total of 5.9 acres and contains a 732-space multi-storey car park – has potential for large scale redevelopment subject to planning permission. Rochdale Exchange Shopping Centre – which collects a gross rental income in excess of £1.8m – is being auctioned by Allsop on behalf of Martin Property Group. The property will head to auction on Tuesday 12 December. George Walker, Partner and Auctioneer at Allsop, said: “Vendors are responding positively to the market dynamics by offering lots at realistic price points as the market continues to evolve. Buyers are showing keen interest in the assets on offer and we anticipate a strong end to the year.”

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