Posts from December 2024

Baby and parenting retailer Ebebek is set to open its first store in the UK at Lakeside Shopping Centre in West Thurrock, Essex this winter. The new store will occupy a 12,378 sq ft unit, offering products for babies, children, and families. The Turkish brand is aiming to become the go-to destination for parents in the UK, with plans to open additional stores in and around London. Ebebek joins a number of family-friendly brands which already have a presence at Lakeside Shopping Centre, such as The Entertainer, KidEco, and Babyeze. Rob Jewell, managing director of asset management at Pradera Lateral, said: “Our team is always looking for tenants that can enhance our centre’s offer to customers, therefore we’re delighted to welcome the first Ebebek UK store to Lakeside Shopping Centre. It joins the existing centre portfolio of over 220 brands, and further highlights our commitment to contracting new and relevant retailers that positively contribute to the overall shopping experience.” Mr Halil Erdogmus, director of Ebebek, added: “The opening of our first UK store at Lakeside Shopping Centre is a significant milestone for Ebebek UK, and we are excited to be opening in this prime retail destination. Lakeside offers the perfect...

Deals News

African-inspired restaurant to open at London Designer Outlet

Fast-growing African-inspired restaurant concept Afrikana is set to open at London Designer Outlet (LDO) in Wembley Park. Signing a 15-year lease for a 2,688 sq ft restaurant, the operator will offer a menu which includes grilled chicken, sharing platters, steak, lamb chops, goat curry, and seafood. Founded in 2018, Afrikana looks to combine food with art, music, and culture, offering events such as R&B brunches and live entertainment. Opening later this year, Afrikana will join LDO’s existing food and beverage offering which includes the likes of Nando’s, Zizzi, Wagamama, Pizza Express and Las Iguanas. Matt Slade, retail director at LDO’s owner Quintain, said: “Afrikana is an excellent addition to LDO’s F&B line-up, and we expect it to become a popular eatery amongst our customer base thanks to its excellent choice of dishes alongside an exciting dining experience inspired by art and music. It has been great to work with Afrikana’s team on this letting, especially given the franchisee’s previous investment with the wider Wembley Park estate. “F&B plays a vital role in the success of outlet retail and having a diverse mix of operators helps to attract customers from surrounding areas. At LDO we have worked hard to not only...

Deals

Redevco confirms £518m retail park portfolio acquisition

Redevco has confirmed the acquisition of a 16-strong retail park portfolio from Oxford Properties for £518m. Oxford Properties assembled the portfolio via the M7 Real Estate specialist platform, which it acquired in 2021. Redevco said the transaction marks a significant milestone in its aim to build one of the largest retail park asset management platforms in Europe. Following the acquisition, the Amsterdam-based firm manages a gross asset value of around €5bn (~£4.1bn) across almost 200 retail park assets, predominantly in Belgium, Germany, Spain, and the UK. Neil Slater, CEO of Redevco, said: “This acquisition is a welcome addition to our pan-European platform, demonstrating our confidence in this sector. Retail parks combine cash-flow resilience and adaptability, making them a compelling investment. Having focused on this sector internationally for years, we’re delighted to supplement our holdings at a fascinating time for the UK market.” James Boadle, senior vice president at Oxford Properties, added: “This sale crystalises the value we have created through our strategic move into the retail sector during the period of dislocation created by covid and by leveraging our M7 Real Estate platform to aggregate and asset manage a high quality, institutional-grade portfolio of retail warehouses. The assets were acquired off-market allowing us to gain exposure...

News

Rituals opens new store at The Liberty Romford

Beauty and wellbeing brand Rituals has opened a new store at Redical’s The Liberty Romford shopping centre. The 1,162 sq ft store – which is Rituals’ first location in Romford – offers the brand’s full range of wellbeing products for bath, body, and home. Located on Liberty Square, Rituals benefits from The Liberty Romford’s annual footfall of 13.6 million and high dwell time, which is 21% higher than comparable shopping centre benchmarks, according to CACI. Oliver Lloyd, leasing director at Redical, said: “Rituals opening at The Liberty Romford symbolises the start of the destination’s retail elevation and marks the first of many exciting brands to join the scheme. Under Redical’s ownership and leadership, we are able to fully unlock the potential of the destination by enhancing the tenant mix and enriching customer experiences. Rituals is a fantastic brand to welcome to the destination and signifies to the market that our transformation is well under way!” Cushman & Wakefield and Green & Partners acted for The Liberty Romford.

Deals News

Peel Retail & Leisure appoints retail park portfolio property manager

Peel Retail & Leisure has announced the appointment of Siobhan Ellis as property manager of its retail parks division. Joining from developer Glenbrook Property, Ellis has over a decade of property and asset management experience. In her new role, Ellis will be responsible for over one million square feet of retail space and an annual eight-figure rent roll. Peel’s retail park portfolio comprises seven retail parks across the UK, located in Stockport, Gloucester, Edinburgh, Yeovil, Hyndburn, Washington, and Barnsley. Working from Peel’s headquarters in Trafford City, Ellis will look to implement new procedures designed to help streamline the group’s day-to-day operations, whilst also identifying and securing new tenants. Mark Whittaker, managing director at Peel Retail & Leisure, said: “We are extremely pleased to be bringing high-calibre talent like Siobhan into the Peel family. She has garnered a great deal of experience across a variety of building types and locations and has an established track record of strong tenant relations and procedural excellence.” Siobhan Ellis added: “It’s really energising to be joining a business that has built such a strong reputation and portfolio over the past 50 years, and which has never stopped evolving. I’m looking forward to meeting our existing...

News

Time Retail Partners makes pair of retail agency hires

Boutique retail property consultancy Time Retail Partners has made two new appointments to its retail agency team. Ollie O’Reilly has joined from Colliers as an associate director, looking to utilise his experience across Time’s shopping centre mandates across the UK. Also joining Time Retail Partners is the firm’s latest graduate surveyor Octavia Wyatt, who joins from GCW. She will work with Time’s tenant representation, investment, and international team. Time Retail Partners acts on retail instructions for major landlords and asset managers across the UK, including Landsec, M&G, Sovereign Centros from CBRE, Global Mutual, Pradera Lateral, Federated Hermes, Railpen, New River, Get Living, and Quintain. David O’Shea, director at Time Retail Partners, said: “We are seeing healthy occupier demand across our centres, and these outstanding recruits add something new to our team. Ollie and Octavia extend our capabilities even further, enabling us to continue to provide strategic support and agility to our clients as the market gathers momentum.” Ollie O’Reilly added: “Time is right in the middle of retail’s rebound, working with some of the best-known landlords and asset managers in the UK. The pace of change, however, means agencies need to be both dynamic and considered, and Time excels at both, which...

News

Quadrant completes flurry of deals at pair of retail parks

Real estate asset management and development company Quadrant has completed a number of deals on behalf of its retained client AshbyCapital at two retail park assets. At Morfa Shopping Park in Swansea, JD Sports and TUI have now both arrived after agreeing new deals with Quadrant. JD Sports has taken a 10-year lease on a 10,000 sq ft store for its third location in Swansea, whilst TUI has taken a five-year lease on a 1,500 sq ft pod. Lease renewals have also been signed with EE and Card Factory. Meanwhile at Abbotsinch Shopping Park in Paisley, Scotland, six new deals have been completed with existing retailers, all of which have taken 10-year leases. DFS has renewed on 25,000 sq ft of space, whilst Sofology and Dunelm each remain in their 20,000 sq ft units. Wren has re-signed for its 15,000 sq ft store whilst ScS and Dreams have renewed at their 10,000 sq ft and 5,000 sq ft stores respectively. John Maddison, partner at Quadrant, said: “Relevant, well-located and well-managed retail parks remain popular amongst consumers who want to partake in physical shopping, be it for big-ticket items or simply an experiential day out with family and friends. These renewal...

Deals News

Fashion brand to open UK flagship store on Covent Garden’s Neal Street

Fashion brand Urban Revivo is set to open its first flagship UK store at 8-12 Neal Street in Covent Garden, London. The retailer has signed a five-year lease for a 5,300 sq ft space previously occupied by Mango and arranged over basement, ground, and first floors. Urban Revivo joins a number of new retailers in the area, with neighbours including Alo Yoga, Onitsuka Tiger, Brandy Melville, Barbour, Space NK, and Nobody’s Child. Founded in China in 2006, the brand is known for offering high fashion designs at accessible price points. As part of its global expansion strategy, Urban Revivo is planning to open more flagship stores which look to showcase its collections while also providing an engaging experience. Savills acted for Urban Revivo. Cushman & Wakefield advised the landlord HIH Invest Neal Street Limited. Sam Foyle, co-head of Global Retail at Savills, said: “We’re excited to be building Urban Revivo’s platform across the UK and Europe, with the brand setting its sights on major markets as part of its ambitious 2025 expansion plans. Pioneering in its fit-out designs and concepts, which is evident in its store portfolio across the APAC region, we can’t wait to see Urban Revivo bring this innovation...

Deals News

M&S’ plans to demolish Oxford Street flagship approved by government

The Deputy Prime Minister Angela Rayner has given Marks and Spencer the go-ahead to demolish its flagship store on Oxford Street to make way for redevelopment. M&S first submitted a planning application to redevelop the Marble Arch store in March 2021, which was initially approved before the previous Secretary of State Michael Gove rejected the proposals in 2023. At the time, Gove said the plans were rejected on the grounds that the public benefits would not outweigh the harm to local landmarks, including the Selfridges department store and a number of conservation areas. Stuart Machin, CEO of M&S, said: “I am delighted that, after three unnecessary years of delays, obfuscation and political posturing at its worst, under the previous Government, our plans for Marble Arch – the only retail-led regeneration proposal on Oxford Street – have finally been approved. We can now get on with the job of helping to rejuvenate the UK’s premier shopping street through a flagship M&S store and office space, which will support 2,000 jobs and act as a global standard-bearer for sustainability. “We share the Government’s ambition to breathe life back into our cities and towns and are pleased to see they are serious about getting Britain...

News

Aldi acquires 3.5 acre site in north Wales from Praxis

Aldi has completed the acquisition of a 3.5 acre site at The Airfields in Deeside, north Wales, from Praxis Group. The transaction follows planning approval for a 20,613 sq ft Aldi supermarket, a Greggs drive-through restaurant, and electric vehicle charging stations within the scheme. The Airfields in Deeside is a major mixed-use development from Praxis, extending to over 244 acres and forming part of the Northern Gateway site in the Deeside Enterprise Zone. Located adjacent to the border with England, this gateway site provides immediate access to Junction 16 of the M56, which in turn provides access to the North West’s regional and national motorway network. The development is currently delivering 767 homes and is also home to a 100,000 sq ft Amazon distribution hub which is now fully operational. Praxis said: “Praxis has made a substantial investment in Deeside and over the past decade has created a thriving, forward-thinking destination that combines retail, leisure, and commercial opportunities with much-needed housing delivery. “We’re proud to play a part in shaping the future of this major North West development.”

News

Chuck E. Cheese targeting entrance to UK market

American restaurant chain Chuck E. Cheese has laid out its requirements as the brand looks to open its first sites in the UK. The family entertainment concept – which has over 550 locations worldwide – is looking to capitalise on an expanding redemption game market in the UK. The brand looks to combine entertainment with a food and beverage offering, bolstered by a strong brand presence. Chuck E. Cheese’s initial target locations include Glasgow, Leeds, Manchester, Birmingham, Milton Keynes, and Bristol. The operator is looking to open in high footfall locations with a strong family demographic, with a catchment of over 25,000 under 12-year-olds within a 20-minute drive time. Chuck E. Cheese is targeting shopping centres, retail parks, and leisure parks with car park frontage. Ideal locations will be between 10,760 sq ft and 16,145 sq ft in size, preferably with an eaves height of 13.1 feet. Wright Property has been appointed to advise Chuck E. Cheese on its expansion.

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Plans to relocate Newcastle Aldi store green lit by councillors

Plans to relocate an Aldi store in Newcastle have been given the go-ahead by councillors. The retailer’s current store in the Westerhope area of the city – one of its smallest in the region – will be relocated to West Denton Retail Park, just 500 metres away. The retailer would be occupying the unit formerly home to Go Outdoors, which will be redeveloped to create a trading area of 15,887 sq ft. Other tenants at West Denton Retail Park include McDonald’s, Jolleyes, and the British Heart Foundation Aldi said its existing site has an outdated layout, as well as a limited sales area and parking space. The retailer’s plans, which were submitted to Newcastle City Council, said that all other options to improve the existing site have been considered, however the only “viable option to safeguard Aldi’s future in the area” involves relocating to a unit able to accommodate a greater level of floorspace.” The new store would have a greater parking provision, with 111 spaces, up from 69.

News

Redevco to acquire £500m+ retail park portfolio

Redevco is set to acquire a portfolio of 16 retail parks from Oxford Properties and M7 Real Estate in a deal worth over £520m. Green Street News reports that Amsterdam-based real estate manager Redevco has exchanged contracts on 16 assets. The deal is expected to be completed as early as next week. The assets were accumulated via M7’s Box+ III vehicle, of which Oxford Properties was the equity backer. The vehicle has a weighting of 90% towards Greater London, the South East, and the South West, according to Green Street News. The portfolio comprises: The purchase price represents a net initial of around 5.5%-6%, sources told Green Street News. Savills represented Oxford Properties. Redevco declined to comment.

News

McDonald’s takes 6,800 sq ft at Kent retail scheme

McDonald’s has opened the doors to a 6,824 sq ft restaurant at M Swanley, an open-air retail destination in Kent. The fast food restaurant chain has signed a 15-year lease for Units 29-30, which have recently undergone an extensive fit-out. Formerly known as Swanley Square, M Swanley is an 85,000 sq ft retail destination located on the A20. The centre is the primary retail destination for local residents and is neighboured by an Asda superstore. Philip M Murphy, head of property and transactions at Evolve Estates, part of M Core, said: “We are delighted to welcome McDonald’s to M Swanley. This popular fast food chain is a fantastic addition to our diverse tenant mix and will further enhance the retail and leisure experience for our visitors.” Connor Spence, acquisitions surveyor (South) at McDonald’s, added: “We are excited to open the doors to our new restaurant at M Swanley. We believe that our presence will bring added convenience and choice to the local community. We look forward to becoming an integral part of the M Swanley shopping experience.”

Deals

Colliers UK names new CEO

Colliers UK has named John Munday as its new CEO, effective from 3rd March 2025. In his new position, Munday will set the direction of the transactional and advisory services business, which has over 1,000 employees. Munday joined Colliers in 2022 as co-head of project and building consultancy following the establishment of a strategic partnership with Paragon, an independent building and project consultancy, where he was previously co-managing director. Davoud Amel-Azizpour, CEO of Colliers EMEA, said: “John has an impressive track record of creating successful businesses and leading large teams that have the ability to respond to client needs and market dynamics. I look forward to seeing him imprint his vision to further enhance our UK business and extensive organisation of real estate experts.” Munday will succeed Tony Horrell who has been chief executive of Colliers’ UK business for the last 14 years. Horrell announced his decision to step down in June, and will remain with the company as a non-executive director. Tony Horrell said: “Since joining Colliers, John has proved to be an enterprising, connected, and results-driven leader who has accelerated our UK project management and asset enhancement services for investor, owner and occupier clients alike. John and I...

News

TJ Hughes takes former Wilko unit at Wolverhampton’s Mander Centre

TJ Hughes has opened its new store at The Mander Centre in Wolverhampton, occupying the space previously let to Wilko. The discount department retailer has signed a 10-year lease for the 19,000 sq ft unit, which opened at the end of November. This marks the return of TJ Hughes to The Mander Centre after almost a decade, following the closure of the retailer’s previous store. TJ Hughes at The Mander Centre offers a variety of products across categories such as home goods, electricals, fashion, and beauty. Harry Wilce, asset manager at Catella APAM, said: “We are incredibly pleased with the rapid turnaround of this transaction. From agreeing terms in early October to completing the lease and opening the store for trade just weeks later, this swift process demonstrates the strong demand for prime retail space at The Mander Centre and the dedication of all parties involved in bringing this to fruition.” Richard Scharenguivel, centre manager at The Mander Centre, added: “We are thrilled to welcome TJ Hughes back to The Mander Centre after almost 10 years. Their return is a testament to the ongoing appeal of the centre, and we are excited to see them thrive in this new location.”...

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Victoria Leeds welcomes two new openings amid record footfall