Posts from January 2024

Phase Eight is set to open its largest store to date, with the fashion retailer set to upsize at Bristol’s Cribbs Causeway. Opening later this week, the 2,800 sq ft store will be 165% larger than the retailer’s existing store at the scheme, where it has traded since 2008. The new store concept will feature a dedicated VIP fitting room, and offer a range of its latest collections including footwear and accessories. Customers will also be able to purchase from the retailer’s new childrenswear range. The new store opening comes as the retailer continues its expansion strategy which launched last year, with Phase Eight opening 13 stores across the UK and Europe. Plans are also in place for the retailer to open new stores in locations including Bluewater, Kingston, Edinburgh, and Blanchardstown in 2024. Deb Jones, centre director at Cribbs Mall, said: “We are delighted that Phase Eight has expanded its presence at Cribbs Mall and has chosen the centre for its new flagship store. Phase Eight has been extremely popular with our shoppers over the past 16 years and their new innovative space further enhances Cribbs Mall’s reputation as the home of fashion brands in the West Country.”

Deals News

Liverpool ONE welcomes Dragon’s Den-backed pop-up retailer

Pre-loved luxury retailer Luxe Collective – which recently secured investment through the BBC’s Dragon’s Den – has completed a successful activation at Liverpool ONE. Opening on Paradise Street, this marked a first activation in the North West for the Liverpool-founded business, which allows consumers to buy and sell items directly to Luxe Collective and offers pre-loved designer apparel, including bags, accessories, and footwear. The pop-up attracted large crowds for its ‘Real vs. Fake’ fashion experience , which challenged customers to distinguish a real designer handbag from a fake one, with a chance to win an authentic Louis Vuitton tote bag. Liverpool ONE has provided a number of local and online-only brands with pop-up store opportunities, having welcomed the likes of fashion brand ARNE and active streetwear brand Red Run in recent times. Rob Deacon, asset management director at Liverpool ONE, said: “Championing best-in-class local and online brands is one of our key commitments at Liverpool ONE and it was brilliant to see the response to Luxe Collective’s activation last weekend. Supporting initiatives and providing new experiences for our visitors continues to place Liverpool ONE as one of the leading retail and entertainment destinations in Europe, which in turn sustains strong...

News

Freehold Brighton city centre café property sold for £1.45m

A city centre property in Brighton has been sold to an Indian café operator for £1.45m. The vacant property at 142 Western Road has been sold by Flude Property Consultants on behalf of a London-based client to Chaiiwala. The upper part of the property comprises high-end two bed flats, and were sold with tenants in place. Flude Director, Will Thomas, commented, “This is the latest of a number of transactions we have conducted along this part of Western Road. Its proving to be a popular location with both buyers and tenants and sees a great deal of footfall. The sale was quickly agreed after coming to the market and sold for an undisclosed sum of a guide price of £1.45m, with a combined passing rent of £94,000 per annum.”

Deals

Superdry could close stores after advisers called in

Superdry could close stores as part of restructuring plans, as the retailer confirms it has called advisers in. The retailer said it is exploring the feasibility of “various material cost saving options”, but added that there is “no certainty” any of these options will be progressed. This comes as a response to press speculation after it was reported that PricewaterhouseCoopers had been appointed to examine the retailer’s further debt-raising options. Options being considered by the embattled retailer is a company voluntary arrangement or a restructuring plan, Sky News reports. Both options would aid the retailer in reducing its liabilities to creditors. Sky News said that detailed proposals have not yet been worked up, and the future of the retailer’s 3,350 staff and 215+ stores remains in the balance. In a trading update released just before Christmas, Superdry had blamed milder-than-expected Autumn weather for lower sales. The results had capped off a year in which the retailer had undertaken a number of measures to strengthen its balance sheet. Superdry already has at least £100m in debt facilities available to it, through partnerships with Hilco and Bantry Bay Capital. It has previously been speculated that Superdry’s founder, Julian Dunkerton, plans to take...

News

Loungers celebrates 250th site opening

Loungers is celebrating reaching 250 sites across its Lounge, Cosy Club, and Brightside brands, with the opening of Pionero Lounge at Riverside in Rochdale. The 3,080 sq ft venue comprises two combined units, following an extensive refurbishment. Loungers’ arrival at Riverside follows the opening of Starbucks at the scheme in 2023, further adding to the scheme’s food and beverage offering. The centre saw footfall reach over 1.6 million in 2023, a 8.5% increase year-on-year. This comes after the group stated its belief that there is scope for at least 600 Lounge sites across the UK, with Loungers on track to open 34 new sites in the current financial year. Since announcing its interim results in November, the group has opened new Lounges in Cramlington, Penrith, Paignton, Caerphilly, and Ashby-de-la-Zouch. Further openings are scheduled in the coming months including in Bromsgrove, Chepstow, Westwood Cross, Macclesfield, Bracknell, Ilkley, Sidcup and Yeovil. The sites range from new developments to former banks, retail outlets, and restaurants. Alex Reilley, chairman and co-founder of Loungers, said: “The opening of our 250th site is a hugely satisfying landmark for a business that started in 2002 in Bristol with a single cafe-bar called The Lounge. A lot has changed since then but our commitment to providing...

News

Wingstop has appetite for 15 new stores this year

Fried chicken restaurant chain Wingstop is looking to open 15 new UK stores in 2024, its most ambitious opening pipeline since arriving in Britain. The chain’s master franchisee, Lemon Pepper Holdings, said that nine new sites are set to open this year with a further six under negotiation. Wingstop will open new restaurants in Clapham High Street, Croydon Valley Retail Park, Hounslow, Lakeside Shopping Centre, Merry Hill, Watford, Westfield Stratford City, Wood Green, and a second location in Leeds. The Stratford City restaurant will be the chain’s largest UK site to date, spanning 5,000 sq ft and accommodating over 160 covers. Tom Grogan, co-founder of Lemon Pepper Holdings, said: “2024 is going to be our biggest ever year of growth. We are proud to be opening across the country and creating up to 750 new jobs. “In just five short years as a business, we have certainly made our mark, offering the best-tasting wings in the business alongside an authentic and customised dining experience. There is huge momentum, and we are just getting started.” Wingstop currently operates 39 sites across the UK.

News

Zara to double size at Dublin South King Street store

Zara is set to more than double the size of its existing store at South King Street in Dublin, expanding into the space formerly occupied by fashion rival H&M. The retailer will increase the size of its store at Hines’ Chatham & King mixed-use development from 14,000 to 33,000 sq ft, becoming the largest fashion store in the Grafton Street area. Niall Ryan, senior director of asset management at Hines, said: “We are delighted to see Zara commit to such a substantial expansion of their flagship city centre store. “It not only reinforces Grafton Street as Dublin’s premier retail destination, it also underscores the vibrancy of the local retail commercial landscape moving into 2024. “Chatham & King has proved to be a centrepiece development in the rejuvenation of this historic quarter and is home to the world’s leading fashion and luxury brands and today’s announcement by Zara is yet another strong endorsement of the success we have seen to date with this portfolio.”

Deals News

Frasers Group takes over former John Lewis at Perterborough’s Queensgate

Frasers Group is set to open a number of stores at Queensgate in Peterborough, occupying the former John Lewis unit. The group will open under the Frasers and Sports Direct brands in the former department store, taking a total of 92,500 sq ft of space. The Frasers concept store will house a number of brands across men’s, women’s, and kidswear, as well as a homeware and beauty offering. Sports Direct will offer products from a range of sports and leisure brands, as well as a wider offer from Frasers Group brands including USC, Jack Wills, and GAME. Ed Ginn, director of investment management at scheme owner Invesco Real Estate, said: “The signing of Frasers Group is a significant step in our drive to transform Queensgate into a leading retail and leisure destination. Positioned in the top 1% of UK shopping centres, we are committed to investing in brands that will not only enhance the centre, but share our ethos for excellence, innovation and providing an exemplary experience. The quality of offer that Frasers Group provides will help attract an even bigger catchment, repeat visits, and longer dwell time, as we continue to evolve Queensgate with the needs and desires of...

Deals News

Poundland launches new ‘Motherland’ store in Biggleswade

Poundland is set to open a new store in Biggleswade, which it has dubbed ‘Motherland’, due to the retailer’s increasing range of baby and children’s products. The 10,000 sq ft former outlet store will open in February, and is set to host the retailer’s widest range of clothing, including for babies and children. The store features hoardings with ‘Motherland’ signage. In its stores that offer clothing, the retailer has increased the amount of space it dedicates to kidswear and babies’ clothing by 50%. Last year, Poundland completed the transition to deliver new clothing ranges designed by its parent company, Pepco Group, bringing the retailer’s fashion offer to nearly 600 stores in the UK and Ireland. Poundland commercial director Tim Bettley said: “As we’ve expanded our baby and kidswear, our customers have nicknamed us ‘Motherland’! “That’s why we’ve used the sign at Biggleswade but across the majority of our UK stores, those same new ranges are available right now.” He added: “We look forward to showing parents in Biggleswade what a modern Poundland offer now offers.”

Deals

Redevelopment of Sutton Coldfield shopping centre set to go ahead

Gracechurch Shopping Centre in Royal Sutton Coldfield, Birmingham, is set to undergo a transformation after proposals were backed by councillors. The West Midlands Combined Authority (WMCA) has agreed in principle for a multimillion-pound investment to create leisure, retail, and commercial space as well as new homes at the scheme. The decision to redevelop the 250,000 sq ft shopping centre means that negotiations between the WMCA and the developers, Birmingham Property Group and SAV Group, will now commence. Andy Street, mayor of the West Midlands, and chair of the WMCA, said: “It’s wonderful to have good news to share about the well-known Gracechurch Shopping Centre site in Royal Sutton Coldfield. “I’m so pleased to see that the new owners have exciting plans to breathe new life into the town centre. “We will continue to work in close collaboration with them to help them realise their vision for Gracechurch – benefitting local people through job creation, leisure options and overall regeneration in the months and years ahead.” Councillor Ian Courts, leader of Solihull Council, and portfolio holder for housing and regeneration at the WMCA, added: “Our town centres and shopping areas are at the heart of our communities and it’s important that...

News

Atria Watford successfully relets anchor units

Atria Watford is preparing for the reletting of two anchor units, as the scheme celebrates 371,000 sq ft of lettings over the past two years. Fashion and home retailer Next has significantly upsized at the Watford scheme, creating a new concept store in the 100,000 sq ft former Debenhams unit. Meanwhile, the former John Lewis store has been divided and leased to multiple tenants including Dunelm and Poundland, which have taken 33,000 sq ft and 14,500 sq ft respectively. Asset manager Global Mutual said that further new brands are set to be announced soon, including a family leisure concept. The 30,000 sq ft former next unit has been let to Watford-based Tk Maxx, satisfying a long-standing requirement for a store in the retailer’s hometown. A number of existing retailers are also upsizing at the scheme, including Zara – which will increase the size of its store from 18,000 sq ft to 43,000 sq ft – and JD Sports, which its tripling the size of its presence to a total of 19,000 sq ft. Watches of Switzerland is also increasing the size of its store, and additional lettings to Rituals, Moss, Pro Cook, and F. Hinds have also been agreed. Lunson...

Deals News

Sovereign Centros brings Rituals to two destinations

Beauty and wellbeing brand Rituals is set to open at two Sovereign Centros-managed assets: Festival Place in Basingstoke and Merry Hill in the West Midlands. At Festival Place, the retailer has opened a 3,300 sq ft unit adjacent to EE and opposite MINISO, which recently celebrated its first anniversary at the scheme. Meanwhile at Merry Hill, Rituals has opened amongst the destination’s watch and jewellery brands, taking 2,000 sq ft of the former Phase Eight unit, with the womenswear retailer relocating and upsizing last year. Jack Gordon, senior asset manager at Sovereign Centros, said: “With Rituals now open at Festival Place and Merry Hill, visitors from across the South East and West Midlands have new opportunities to shop their great array of luxury goods, within two of the UK’s leading retail and leisure destinations. Securing a brand like Rituals at both destinations showcases the value we place on partnering with retailers, helping them to achieve their vision and supporting their growth in locations that match their aspirational demographic. They add a unique, luxury shopping environment wherever they are, so it’s fantastic for Festival Place’s and Merry Hill’s visitors to now be able to experience that.” The news follows Merry Hill...

Deals News

BRC launches ‘Manifesto for Retail’

The British Retail Consortium (BRC) has released a ‘Manifesto for Retail’ – titled “Accelerating Investment in the Everywhere Economy”, which looks to lay the framework for a better future for the retail industry. The term ‘everywhere economy’ refers to the fact that retail is present in every village, town, and city across the country. The retail industry is the largest employer in the private sector, providing 3 million direct jobs and a further 2.7 million in the supply chain. The manifesto lays out three major ‘fixes’ to help support the retail industry, including: Helen Dickinson, chief executive at the British Retail Consortium, said: “The UK has one of the most developed retail offerings in the world, employing three million people and playing a key role in every community in the country. As political parties gear up for the next election, we need a different way of working with government so that we can use the industry’s size, scale and reach to deliver more. That means removing the blockages which hold the industry back, preventing it reaching its full potential. It’s time to support the upskilling of workers and accelerate our journey to net zero, while finding ways to address any...

News

Operator chosen for Olympic Park events concept

The London Legacy Development Corporation (LLDC) has chosen Peppermint Events to create a dining, drinks, and events concept at Queen Elizabeth Olympic Park. The two groups have signed a seven-year lease with the option to extend, which will cover the operation of the Podium building and external spaces situated by the ArcelorMittal Orbit and Slide on the Park. The development will create a rooftop garden with views over East London, a 300-cover café/restaurant and hospitality space across two floors, and a dedicated street food area. The space will offer outdoor screenings, DJs, markets and seasonal events all-year-round. The venue will also be available for private hires and corporate events. Peppermint has over 20 years of experience in the events industry, providing food and drink solutions to various venues across the UK, including festival and sporting events. Both the LLDC and Peppermint said they are committed to sustainable practices and eco-friendly initiatives. The venue will look to prioritise sustainability in its design, operations, and services, including with the use of regional suppliers and manufacturers. Edward Fane, head of venues at Queen Elizabeth Olympic Park, said: “We are delighted to be partnering with Peppermint Events to create another vibrant food hospitality and...

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Italian restaurant concept seeks new London locations

Noci, the Various Eateries-owned Italian restaurant concept, is seeking new locations within London. The concept, which specialises in pasta dishes, Sicilian street food-inspired snacks, and cocktails, opened its first restaurant in Islington in 2022, with openings in Battersea Power Station and Shoreditch following in 2023. Noci has also committed to a site in Richmond. Noci has been nominated at both Peach and MCA awards as one of the country’s best emerging brands. The concept is now seeking sites around 3,000 sq ft with external seating in areas of the capital with busy footfall. Priority locations include: Matt Porter of Teague & Capital has been appointed to find suitable locations.

Requirements

Sports Direct to take over former Liverpool M&S

Sports Direct is set to create a new store and gym after acquiring the former Marks & Spencer store in Church Street, Liverpool. The Frasers Group-owned retailer will move into a 103,000 sq ft space at the Grade II-listed Compton House, Liverpool Business News (LBN) has reported. M&S relocated to the former Debenhams store at Liverpool ONE in August, after a 93-year tenure at its Church Street location. It is expected that Sports Direct’s fit-out will take around 18 months. It is not yet clear what will happen to the sportswear retailer’s existing location at Liverpool ONE. James France, head of acquisitions at Frasers Group, told LBN: “We are pleased to confirm that we have acquired Compton House located on Liverpool’s renowned Church Street. “We are big believers in physical retail and this acquisition marks an exciting time for the group as we continue to expand our store portfolio across the UK and Europe. “As the UK’s leading destination for sportswear, we are looking forward to bringing Liverpool customers a next-generation sports retail experience with the opening of a 70,000 sq ft Sports Direct flagship store. Subject to approval, Everlast Gyms will also open a 23,000 sq. ft hybrid gym...

Deals News

M Core’s Evolve Estates makes strategic North East acquisition