Posts from July 2025

Chopstix has continued its nationwide expansion with the opening of its first restaurant in Huddersfield, West Yorkshire. Opening this month on King Street, the new location reflects the brand’s ongoing plans to open in high traffic areas such as high street locations and traffic hubs. The addition of the Huddersfield restaurant follows several openings for Chopstix this year including in Brighton, Leeds, and most recently, Wolverhampton. Sam Elia, co-founder and director at Chopstix, said: “We’re excited to be opening in Huddersfield and introducing our unique brand proposition to another great UK high street. “We’ve seen huge momentum behind the business this year, and this is a testament to the strength of the Chopstix brand and our unwavering focus on quality, speed, and customer experience.” Following investment from quick service restaurant (QSR) group QSRP in 2024, Chopstix has accelerated its expansion and is now aiming to become the largest Asian QSR brand on the continent.

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NewRiver completes over 250,000 sq ft of new lettings and renewals

NewRiver has completed 252,200 sq ft of new lettings and renewals in the first quarter of the 2026 financial year. This was up from 147,300 sq ft during the same quarter last year. During the period, the real estate investment trust (REIT) secured £2m of rent through long-term transactions, a year-on-year increase of £0.3m. NewRiver also recorded a portfolio occupancy rate of 94.9% and a retention rate of 92%. The REIT said that UK consumer spending has remained strong, with total UK retail and supermarket spending in its estate up by 4.5% year-on-year during the six months to June 2025. During the quarter, NewRiver also completed the sale of the Abbey Centre in Newtownabbey, Northern Ireland, for £58.8m. Since acquiring the 320,000 sq ft scheme in 2014, NewRiver has completed a number of successful initiatives, including the creation of a new 44,000 sq ft flagship store for Next, the delivery of an upsized Primark into a former BHS unit, and the completion of a refurbishment programme including the entrance, car park, and a revitalised food court. Allan Lockhart, chief executive of NewRiver, said: “We have made an excellent start to the new financial year. Consumer spending growth across our portfolio is...

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Knight Frank appointed as retail agents at Belgravia development

Knight Frank has been appointed as the exclusive retail and restaurant leasing agent of 8 Eaton Lane in Belgravia, London, a residential-led development. Originally designed as serviced residential apartments, the Grade II-listed building is currently undergoing a redevelopment, and will provide a collection of 42 residences alongside retail and restaurant spaces when development completes in 2026. The development is being brought forward by CIT, in a joint venture with Bain Capital, and will look to reinforce the area’s position as a leading residential, restaurant, office, and tourist location. Jonathan Eastwood, head of the retail agency team at Knight Frank, said: “We are delighted to be working with Bain Capital and CIT on this landmark development. “8 Eaton Lane presents a rare opportunity to introduce a distinctive blend of retail and restaurant operators to one of London’s most desirable addresses. We look forward to bringing a carefully selected mix of occupiers to complement the quality and character of this stunning development. We expect to fully launch the space in September and already have a list of enquiries.”

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Hammerson acquires remaining Bullring & Grand Central stake for £319m

Hammerson has reached an unconditional agreement to acquire the 50% stake it does not own in Birmingham’s Bullring & Grand Central for £319m. The real estate investment trust said the acquisition will be funded through the suspension of its share buyback programme, existing cash resources, and an equity placing of up to 10% of total outstanding shares. Hammerson said the purchase was completed at a 4% discount to the June book value, and represents an additional annualised net rental income of around £22m. Since 2021, Bullring has benefited from over £30m of landlord investment and £75m occupier investment to reposition the former Debenhams unit and bring in new retail concepts, upsizes, and offers from the likes of M&S, Inditex, Sephora, and JD Sports, alongside new leisure provision including TOCA Social and Lane7. At Grand Central, located above Birmingham New Street station, occupancy is up by 3% year-on-year, reflecting spillover demand from Bullring where space is also at a premium. Food and beverage is a particular feature of the scheme, due to its location. Hammerson said Grand Central also represents a compelling redevelopment opportunity. Around 50% of the space, representing a former John Lewis department store, is currently vacant. However, a...

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Co-op launches ‘on-the-go’ store format

Co-op has announced the launch of a new chain of smaller format ‘on-the-go’ stores, located in high foot traffic urban locations. Unlike other stores in Co-op’s estate, the new store format is around one quarter of the size of its typical convenience stores, with a net sales area of approximately 600-1,000 sq ft. The first store with this new concept has now opened in Solihull, with a further 15 set to open over the coming months, with Co-op aiming to reach several hundred over the next two to three years. The new format will offer breakfast, lunch, and dinner in new formats, traditional meal deals to hot food served over the counter – a first for Co-op. Heather Thomas, Co-op property and sustainability director, said: “We are delighted to launch the first of our brand new format on the go stores. Our teams have worked hard to find the right locations and evolve our convenience expertise to bring the best trends in food-to-go and freshly prepared propositions into high foot-flow urban locations. Whether you are looking for breakfast, lunch or dinner on the go, these stores offer delicious and innovative products, quick service and good value. Alongside traditional convenience stores we...

Joint venture secures planning permission for Edgware masterplan

A joint venture between Ballymore and Places for London has secured outline planning permission from Barnet Council’s Strategic Planning Committee for proposals designed to transform Edgware town centre in Greater London. The 10.3 hectare site comprises the Broadwalk Shopping Centre, including a Sainsbury’s store, and associated surface level car park, along with Edgware Bus Station, Edgware Bus Garage, Redhill Medical Centre, and Deans Brook Nature Reserve. The masterplan represents a £1.7bn investment which will look to deliver 460,000 sq ft of new commercial space – including a potential cinema, new community uses including an integrated healthcare hub and library, an integrated public transport interchange, 11.9 acres of green and open spaces, and approximately 3,500 new homes. The outline masterplan has been developed by Howells, with Savills supporting Barnet Council. Iyabo Johnson, associate director in the London Planning team at Savills, says: “We are really pleased to have successfully steered this ambitious scheme through a complex planning process. The Edgware masterplan offers a sustainable, plan-led response to London’s pressing need for housing and growth. The proposals make optimal use of brownfield land with excellent public transport connections. “Through a bold and forward-thinking approach, the scheme unlocks a significant package of public...

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Manchester Arndale to welcome Boux Avenue

Boux Avenue is set to open a new store at Manchester Arndale shopping centre later this summer. The lingerie, nightwear, and swimwear company has signed a 10-year lease for a 2,765 sq ft store on New Cannon Street in close proximity to Sephora. The new space will bring the brand’s in-store offering to shoppers at the Manchester scheme, which includes bra fittings, fitting rooms, and an array of lingerie plus swimwear and nightwear. Boux Avenue – which has over 25 stores in the UK – will join recent arrivals at Manchester Arndale including Alo Yoga, Arc’teryx, and Represent to the city. Steve Gray, head of European retail asset management at Global Mutual, said: “Boux Avenue is a standout name in the UK retail landscape, and we’re thrilled to welcome them to Manchester Arndale for their latest location. Their arrival will further enhance our varied mix of fashion and lifestyle brands, and we know our visitors will welcome the addition.” Metis Real Estate and Time Retail Partners are Manchester Arndale’s retained letting agents.

Deals News

Retail most resilient sector as UK property investment slips to two-year low

UK property investment slipped to a two-year low in the second quarter of 2025, however retail was the most resilient of the main sectors. According to a new report from Lambert Smith Hampton (LSH), £8.8bn of property assets changed hands during Q2 2025, 6% down on a modest Q1% and the lowest total since Q2 2023. LSH said this lower total was reflective of tariff concerns, a weaker economic outlook, and high yields from government bonds, all of which are fuelling caution amongst investors. However, transactional activity appeared more resilient. While the Q2 investment volume was 27% below the five-year quarterly average, the number of deals was only 9% below trend. LSH said the drop in investment volume in Q2 mostly reflects an absence of large-scale deals, with no transactions above £400m having been completed for the first time in five years. Retail proved to be the most resilient main sector against trend in Q2. Whilst the investment volume of £1.6bn was down 11% compared to Q1, this was only 7% below the five-year quarterly average. In addition, the number of retail transactions was only 1% below the five-year average. This was underpinned by a decent quarter for retail warehousing, where a...

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Crocs slides in to London Designer Outlet

Casual footwear brand Crocs has opened a new store at London Designer Outlet (LDO) in Wembley Park. The 1,456 sq ft store offers a range of products for adults and children, including Crocs’ famous clogs, sandals, and a selection of ‘Jibbitz’ charms. One of the store’s key features is a dedicated Jibbitz area, which allows customers to customise their footwear with unique charms. Shoppers under the age of 44 made up over half of LDO’s total spend during the past year, and the outlet destination has looked to respond through the addition of brands such as Crocs, Rituals, and Miniso, whose product ranges aim to appeal to this demographic. Daniel Tomkinson, general manager of London Designer Outlet, said: “The opening of Crocs continues the run of globally recognised brands coming to London Designer Outlet. Thanks to our location within one of London’s most vibrant new neighbourhoods, with a diverse multi-generational brand-savvy audience and international students on our doorstep, we expect the Crocs store to perform exceptionally well, and we look forward to working with their team to ensure they thrive at LDO. “With more exciting new arrivals on the horizon, we are continuing to cement our position as London’s haven...

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Rituals opens at Lincoln’s Waterside Centre

Rituals has continued its rapid expansion with the opening of a new store at the Waterside Centre in Lincoln. The retailer has signed a long-term lease for a 1,200 sq ft space, offering a range of bath, body, and home products. Rituals joins other leading retailers at the Waterside Centre including H&M, Next, The Body Shop, New Look, Superdrug, O2, and Office. The opening is the latest addition to Waterside following significant investment by joint venture owners Wykeland Group and Lincolnshire Co-Op, which acquired the scheme in 2023 and have since delivered a £3m programme of improvements. These upgrades have also seen Accessorize reopen next to Rituals, following landlord works and a tenant refresh to the store. Mary-Jane Booth, centre manager at Waterside, said: “We’re absolutely delighted to welcome Rituals to Waterside. This premium wellbeing brand is exactly the type of quality retailer that complements our vision for the centre and demonstrates the continued confidence major brands have in Waterside and Lincoln as a retail and leisure destination. “Rituals brings something truly special to Lincoln – not just luxury products, but an immersive shopping experience. “Their commitment to exceptional customer service and meaningful brand values aligns perfectly with our investments...

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Ikea to open first store in York

Ikea is set to open its first-ever store in York with the opening of a ‘Plan and Order’ point at Clifton Moor Retail Park. The retailer’s Plan and Order Points are smaller stores, which look to provide customers with bespoke kitchen and storage planning services. At these locations, customers can access furnishing advice from Ikea workers, who can assist them in planning, purchasing, and installing their kitchens and bedroom and living room storage. The store – which opens in August – will also offer a collection area for online orders, where customers will be able to return purchases. The opening forms part of Ikea’s wider expansion plan, which includes the opening of another Plan and Order Point in Dundee, smaller stores in Norwich and Chester, and a new city store in Brighton. This comes after the retailer opened Plan and Order Points in Hull and Waterford and a small store in Harlow. Conor Doherty, market manager at Ikea, said: “Our Plan and Order Points offer the perfect space for customers to create their ideal kitchen or storage setup. Beyond planning, these locations also make it easier for those living further from our Hull, Leeds, and Sheffield stores to access our full range,...

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CBRE sells Essex supermarket investment

CBRE Investment Management has sold a long income, index-linked Aldi supermarket investment in Billericay, Essex, to State Street Investment Management. The acquisition price was not disclosed, however the asset was previously marketed with an asking price of £8m, reflecting a net initial yield of 5.00%. Formerly a Co-op store, the supermarket is let to Aldi until April 2045 and is set to open in November 2025. Upon opening, the store will comprise a gross internal area of 19,267 sq ft and be supplemented by a 2,103 sq ft external canopy area and 146 car parking spaces. The supermarket will generate a passing rent of £421,818 per annum, reflecting £20.76 per sq ft based on the proposed store reconfiguration. This is subject to 5-yearly RPI linked rent reviews. Montagu Evans advised CBRE Investment Management. TW Keil acted for the purchaser.

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Pandora opens first airport store in Manchester

Pandora has opened its first airport store at Manchester Airport. Located in Terminal 2, the store features the brand’s full range of jewellery products and also offers engraving services. The store is the first of three airport locations that Pandora is set to open in 2025, as part of the retailer’s increased investment into travel retail. The jeweller will open at Gatwick’s south terminal in mid-August and in London Luton Airport in September. Ross Monaghan, sales director for the UK and Ireland at Pandora, said: “We’re incredibly proud to open our first ever standalone airport store and delighted to partner with Manchester, a city that holds huge importance for Pandora in the UK. “This new location comes at the perfect moment in the airport’s development and marks an exciting new chapter in our retail journey.” This comes after Pandora opened its fourth store on Oxford Street in March, as the retailer looks to expand its presence on the famous shopping street.

Deals News

Padel and skateboarding to transform former market space at Derbion

Derbion in the East Midlands is set to welcome 10 padel courts and a new skatepark after reaching agreements with community sports operators Social Sports Society and Flo Skatepark. Social Sports Society has signed a five-year lease for 54,773 sq ft of space within part of the former Eagle Market area. This will be the brand’s third location outside of London, joining venues in Birmingham and Manchester. Set to open this autumn, Social Sports Society’s new facility at Derbion will be one of the largest indoor padel centres in the UK. Meanwhile, Flo Skateboard has signed a five-year lease for a 20,828 sq ft space. A charity which is supported by Sport England and accredited by Skateboard GB, Flo Skateboard will use this space as a venue for community events, exhibitions, and collaborations with partner brands. Both the openings will coincide with the completion of the Eastern Gateway development, which will create a new feature façade and urban garden for Derbion. The growing leisure offer at Derbion complements the centre’s partnership with the newly-opened Valliant Live arena, which has helped increase footfall and spend in the centre, especially amongst food and beverage operators. Beth McDonald, managing director at Derbion, said:...

Deals News

The Crown Estate acquires headlease of West End mixed use property

The Crown Estate has acquired the headlease of 100 Regent Street in London from a vehicle managed by Federated Hermes Real Estate for £95m. The Grade II-listed building comprises more than 53,000 sq ft of retail and office space. The Crown Estate already owns the building’s freehold as part of the Regent Street Partnership, its joint venture with Norges Bank Investment Management. The Crown Estate said the acquisition enables its partnership to take direct control of the entire building, supporting its strategy to invest in Regent Street. The group will now look to enhance the office spaces, curate the existing retail offer, and improve the building’s environmental performance. Dominic Packwood, investment manager at The Crown Estate, said: “This important acquisition marks a key step in delivering our long-term vision for Regent Street and the wider West End. Direct ownership of 100 Regent Street will help us to realise our ambitious plans across our portfolio, including the delivery of our development pipeline and public realm investment, alongside our wider goal to create a vibrant, inclusive and sustainable West End.” Savills acted for The Crown Estate.

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Apple opens upsized store at Touchwood Solihull

Apple has opened the doors to its upsized store at Touchwood shopping centre in Solihull. The technology company has more than tripled its presence at the scheme, opening a 13,750 sq ft store in the Crescent Arcade area of Touchwood. Apple has been a tenant at the scheme since September 2007. A leading retail and leisure destination in the West Midlands, Touchwood is home to retailers such as John Lewis, Mango, Zara, Rituals, and ProCook. Dining options at the scheme include Wagamama, Nando’s, and Pizza Express, alongside independent restaurants, competitive socialising operator Spinners, and a nine-screen Cineworld. Since acquiring Touchwood in 2021, owner The Ardent Companies has looked to diversify the destination’s tenant mix and customer offer by introducing new brands, dining options, and leisure operators to expand the visitor base. Andrew Hilston, managing director at The Ardent Companies, said: “Apple is one of the world’s pre-eminent retailers, and as such its decision to grow its footprint at Touchwood, and invest in the design features and concepts for which it is rightly renowned, represents a huge vote of faith in the scheme as a retail destination. Our strategy is centred on creating a scheme that caters to the diverse requirements of...

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Site of infamous bank job to be reimagined at part of new retail and dining offer

The site of a notorious bank robbery on London’s Baker Street is set to be reimagined as part of a new retail and leisure destination. The property, located at 185 Baker Street, was originally built in 1931 and was used as a Lloyds Bank. In 1971, a team of four robbers tunnelled into the bank from an adjacent basement, breaking into the vault and the safety deposit boxes. The heist was also immortalised in the 2008 film ‘Bank Job’ starring Jason Statham. Lloyds Bank has now vacated after more than 70 years and the unit – which is to be marketed by Knight Frank – forms part of the Berkeley Court Quarter, a mix of eateries, cafés, retailers, experiences, and residences, close to Madame Tussauds and Regent’s Park. Josh Braid, partner at Knight Frank, said: “Baker Street has a special place in London’s history and popular culture. It was where the first underground train station opened, the home of Sherlock Holmes and also the scene of one of the capital’s most notorious bank robberies. We are delighted to bring this exciting corner flagship opportunity to the market for a new occupier to create a unique dining or leisure experience, drawing on this rich...

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Hotel Chocolat opens flagship store at Manchester Arndale