Posts from July 2025

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

Hotel Chocolat has opened one of its largest stores in the UK at Manchester Arndale shopping centre. The chocolatier has signed a 10-year lease for a 7,288 sq ft unit on Cross Street, which features a café space and offers the brand’s range of chocolate bars, hot drinks, and gifts. Beginning in 2003 as a boutique chocolate shop, Hotel Chocolat has since expanded its portfolio to 126 stores across the world, with flagship sites in London, Tokyo and New York. As well as retail outlets, the brand has diversified by opening cafés as well as launching cookbooks, coffee lines, and experiences such as the School of Chocolate Vaults in London’s Covent Garden. This latest letting adds to Manchester Arndale’s existing food and beverage line up on Cross Street, which also includes Vietnamese Street food provider HOP Vietnamese. Scott Linard, portfolio manager for M&G Real Estate, said: “At Manchester Arndale we pride ourselves on offering a varied F&B mix as we want to provide customers with a vibrant lineup of refreshing drinks and delicious food. It is also great to see another established brand select Manchester Arndale for one of its flagship stores. This investment by Hotel Chocolat in Manchester Arndale is...

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International investor acquires Manchester retail park

25th July 2025

International investment giant PGIM has acquired Manchester Fort retail park from Nuveen. Located 1.5 miles north of the city centre, the 325,000 sq ft scheme comprises 36 units and is home to retailers such as Next, Boots, H&M, M&S, and TK Maxx. The acquisition adds to more than £100bn worth of assets currently under PGIM’s management, including other assets in the North West such as the Lampwick Quay residential development in Manchester. In 2020 Nuveen said it planned to diversify the offer at Manchester Fort and a strategic generation framework for the scheme was drawn up. Included in the proposals was the redevelopment of the B&Q store into a flexible retail space and a cinema, and the creation of a hotel on the site of the Halfords store. This reimagined scheme would also include an increased food and beverage offer, adding to the existing F&B tenants at the retail park such as KFC, Nando’s, and Greggs.

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Canada Water to welcome UK’s largest urban winery

25th July 2025

Vagabond Wines is set to open the UK’s largest urban winery at British Land and AustralianSuper’s 53-acre Canada Water Masterplan later this year. The self-pour wine bar group will take 6,000 sq ft of space on the ground floor of the recently-completed Dock Shed, a mixed-use building with workspace above and the new Canada Water Leisure Centre to the rear The space will feature a 100-tonne winery, a Vagabond bar, and multiple event and private hire spaces for the likes of weddings, tastings, dinners, and corporate events. The launch forms part of Vagabond’s wider growth strategy, with the brand working exclusively with the retail and leisure team at Savills to double the size of its estate over the next three years. The operator’s first tranche of openings is due later this year and includes new bars in St Paul’s and at British Land and GIC’s Broadgate, Liverpool Street. John Colley, CEO of Majestic Group, which owns Vagabond, said: “We are really excited to be launching the UK’s largest urban winery, in a prime central London location. This is a project we have been working on for a number of months and we can’t wait to welcome our first guests later...

Deals News

Superdrug to join Leicester’s Highcross

25th July 2025

Superdrug is set to open at Highcross Leicester this autumn, as the shopping destination looks to expand its wellbeing and beauty offering. The health and beauty retailer has taken a 10-year lease for two units on the lower mall, previously home to Paperchase and Designer Furniture Store, for a total of 9,000 sq ft of space. The signing follows the recent arrivals of fellow beauty and wellbeing retailers, Rituals and Space NK, at Highcross Leicester. Superdrug will also join the scheme’s existing roster of healthcare, skincare and fragrance brands, including Boots, Lush, Jo Malone, and Clarins. Alongside its product offering, the store will include a nurse-led aesthetic clinic and a beauty studio, which offers eyebrow threading, eyelash extensions, and nail manicures. Michelle Menezes, centre director at Highcross Leicester, said: “The first half of the year at Highcross has been busy, but exciting, with four fantastic new additions across food, fashion and beauty and wellbeing. From much-anticipated returns to city centre firsts, it’s clear that retailers see real value in establishing a presence here in Leicester. We’re delighted that Superdrug is the latest brand to join the line-up, and we look forward to welcoming them to the Highcross community.” Clare Jennings, property director at Superdrug, added:...

Deals News

River Island at risk of collapse “within weeks” unless rescue plan approved

River Island could collapse “within weeks” unless its rescue plan is approved by shareholders and creditors, The Telegraph has reported. The fashion retailer needs 75% approval from creditors for its rescue plan, which would see it close 33 stores, seek rent reductions at 71 further locations, and write of a series of debts. If approved, the plan – which will be put before the High Court next week – will see an emergency loan from River Island’s founders the Lewis family released, enabling the retailer to pay off its debts. However, if River Island’s plan is rejected, the retailer told its creditors that it is at risk of running out of cash by the end of August, and will be unable to pay off its debts. As a result, the business would “not be able to continue trading as a going concern” and would be subject to administration or other insolvency proceedings, according to The Telegraph. A spokesperson for River Island told the publication: “River Island circulated its proposals for a restructuring plan to creditors on June 20. In combination with the company’s ongoing Transformation Strategy, the plan is a proactive measure to place the company on a firm footing. “We have...

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Ikea opens first of three new small-format stores

Ikea has opened the first of three new smaller format stores in Harlow, Essex, with two more set to open in Norwich and Chester later this year. The new retail park locations look to offer a simpler and quicker shopping experience for customers, as part of Ikea’s strategy to be closer to where people live, work, and shop. In the smaller format stores, customers can explore roomsets and browse from a range of furnishings and small furniture. The stores feature a curated showroom, seasonal collections, and access to Ikea’s 12,000-strong product range, which can be delivered directly to customers’ homes or collected from the store. Along with the option to buy pre-used items for store credit, planning services are available for kitchens and bedroom storage, with a team of staff on hand to assist customers. A selection of Swedish food is also on offer, to eat in or take away. Peter Jelkeby, CEO and CSO, Ikea UK & Ireland, said: “The opening of Ikea Harlow marks an exciting milestone as we explore new ways to bring Ikea closer to our customers. We are opening our doors just over 100 days after acquiring the lease to the site, having made use...

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Leasing launched at Brighton retail and leisure block

Savills has launched the leasing at King’s Quarter, a new retail and leisure development in Brighton city centre. Based in a former Barclays bank on North Street, the development offers a total of 17,678 sq ft of retail and leisure accommodation across the ground and basement floors. Various splits and configurations will be considered, ranging between 4,000 sq ft and 40,000 sq ft in size, with retail and leisure uses suitable to be let either separately or together. The upper floors of the six storey building are currently used for offices, however Savills said these can be incorporated subject to access and egress considerations. Located within the city centre in close proximity to Churchill Square Shopping Centre and Brighton train station, King’s Quarter sits nearby to the likes of Decathlon, Sports Direct, TK Maxx, The Ivy, and Premier Inn. The property is also supplemented by the 587 space NCP Brighton Theatre multi-storey car park, which is located to the rear.

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Lifestyle brand opens first store outside of London at Victoria Leeds