Posts from August 2025

Affinity, a portfolio of four outlet shopping centres owned by Frasers Group and asset managed by Global Mutual, has reached 98% occupancy after a strong start to 2025. At Affinity Sterling Mills in Scotland, footfall increased by 30% year-on-year and overall sales were up by 4.14% during the first half of 2025. These results were aided by a range of tenant relocations from the likes of Beauty Outlet, Roman and Klass, as well as the arrival of Skechers in June. Affinity Lancashire in Fleetwood remains fully let, with footfall also up by 4.68% year-on-year. Within the scheme, womenswear has recorded a 17.52% year-to-date increase, with the home category also performing well, at 11.64% up compared to the same period in 2024. Meanwhile at Affinity Devon in Bideford, performance in the outdoor category has been particularly strong, with a 12% uplift compared to 2024. This was boosted by good weather which led to more visitors and tourists heading to the retail centre. Finally, Affinity Staffordshire in Stoke-on-Trent has also seen strong leasing performance, with the centre fully let and 18 tenants committing to lease renewals, some for terms of up to seven years. Across all four schemes, food and beverage has...

News

Waterstones secures £125 funding package to support next chapter of growth

Waterstones has secured a £125m funding package to support its future growth. The facility, which has been jointly arranged by Barclays UK Corporate Bank and HSBC UK Bank, comprises a £75m term loan and a £50m revolving credit facility. This comes as the retailer – which currently operates nearly 230 book stores across the UK, Ireland, and Europe – also plans to open two new bookshops within John Lewis stores in Cheadle, Greater Manchester, and Bluewater in Kent. Karen Ashworth, chief financial officer at Waterstones, said: “Waterstones would like to thank Barclays and HSBC for their continued partnership in increasing the syndicated facility that supports the financing needs of the business.” Karen Johnson, head of retail and wholesale at Barclays Corporate Banking, added: “We are delighted to be able to continue to support Waterstones with their financing requirements and are proud of this growing relationship.” James Protheroe, senior relationship director at HSBC UK, said: “We are delighted to have supported on this upsized financing package for Waterstones, further cementing our relationship with this hugely popular UK retailer.”

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Padel and fitness facility to join Lancashire retail park

CLUBHOUSE UK, a new padel, fitness gym, and coffee lounge is set to join Hyndburn Retail Park in Blackburn. Opening in September, the 23,000 sq ft facility will feature six padel courts, along with fitness facilities and a social space serving coffee, smoothies, protein shakes, and light bites. Dan Wilkins, founder of CLUBHOUSE UK, said: “CLUBHOUSE UK is where sport, lifestyle and community collide. We’ve brought together padel, functional fitness and a social experience under one roof, in a space designed to inspire people to move. We can’t wait to open our doors after over 18 months of research and development and hard work from our team to ensure CLUBHOUSE UK is the best experience it can be.” Bruce Edmondson, director of retail parks and development at Peel Retail and Leisure, added: “We’re delighted to welcome CLUBHOUSE UK to Hyndburn Retail Park. The opening of the centre will bring another innovative concept to the area, combining fitness, sport and social lifestyle in one location. CLUBHOUSE UK reflects the dynamic, experience-led offering we’re all about and we look forward to supporting what will be a true fitness hub for the community.” A CGI of the CLUBHOUSE facilities

Deals

Toy retailer to open largest UK store at Liverpool ONE

International toy retailer POP MART is set to open its largest UK store to date at Liverpool ONE shopping centre. Making its Liverpool debut, POP MART’s new store on Upper South John Street will span 6,200 sq ft and be situated close to KENJI and MINISO. The store will stock the brand’s collectable variety of blind boxes, spanning a range of popular POP MART-only characters, as well as the highly popular ranges of The Monsters, more commonly known as ‘Labubus’. Rob Deacon, director of asset management at Liverpool ONE, Landsec, said: “With regular sell-out product launches, POP MART has proven a viral sensation, and the store is set to appeal to a wide range of consumers across the North West. The brand launching its biggest UK store yet will provide yet another distinct point of difference to the destination, reinforcing Liverpool ONE’s position as a go-to location for globally renowned brands and one of the leading retail and entertainment destinations in the UK.” This continues a run of signings and openings at Liverpool ONE, with the destination celebrating its busiest year for store launches since 2008. Last month, MINISO made its Liverpool debut, following the arrivals of Sephora, TFG London,...

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Wingstop opens fifth Leeds restaurant

Wingstop has opened its fifth restaurant in Leeds at The Springs retail and leisure centre. The 3,014 sq ft site offers the chain’s full menu of wings, tenders, burgers, and sides, including drinks. The new restaurant joins Wingstop’s other Leeds locations in Cardigan Fields Leisure Park, White Rose Shopping Centre, Boar Lane, and kitchen delivery sites. Wingstop’s latest opening in Leeds comes as part of its continued expansion, with the operator set to open 20 new locations in 2025. Chris Sherriff, CEO at Wingstop UK, said: “We’ve seen phenomenal demand for Wingstop UK in Leeds, which is why we’re thrilled to be opening our fifth site in the city. Expanding into such a vibrant destination for food and drink, like The Springs, is a natural next step and cements our status as the number one flavour destination in Leeds. We’re grateful for the continued love and support from our local community, as we bring our menu to an even broader audience.” Gemma Chidgey, estates manager at The Springs, added: “We are thrilled to be welcoming Wingstop to the scheme this week and very proud to be the latest opening in Leeds! The new restaurant will add to our already strong line-up of...

News

High Court green lights River Island restructuring plan

River Island’s restructuring plan aimed at keeping the fashion retailer out of administration has been approved by the High Court. Under the terms of the rescue package, River Island will now close 33 UK stores and slash rents at a further 71 locations. Some landlords will also be requested to suspend payments entirely for up to three years. River Island – which operates 223 stores across the UK and Ireland – has been under increasing financial pressure amid falling footfall and sales. The retailer’s latest accounts showed a £33.2m pre-tax loss for the year ending 30th December 2023, while turnover declined by over 19% to £578.1m. King’s Counsel Matthew Weaver, speaking at Friday’s hearing, said that without the court’s approval, River Island would likely enter an insolvency process. This would see the retailer sell off its stock and intellectual property. He added: “In essence, the transformation plan seeks to address the root causes of the difficulties facing the group and to reposition River Island for long-term success. It involves a combination of operational improvements, cost rationalisation and strategic investment, all of which are critical to restoring profitability, improving cash flow, and safeguarding jobs.”

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Avison Young appoints UK head of capital markets

Avison Young has appointed Chris Pilgrim as principal, managing director, and UK head of capital markets. He joins from Colliers, where he was based in both London and Singapore as managing director of global capital markets for the Asia Pacific region and sat on the Capital Markets Global Executive Committee. Prior to his time at Colliers, he also spent a decade at CBRE across the London, Kuala Lumpur, and Singapore offices. At Avison Young, Pilgrim will look to bring a global-first approach to the UK capital markets team, focused on leveraging international capital deploying into the UK. He brings over 18 years’ of experience, specialising in the deployment of capital into major real estate markets and asset classes, as well as a deep global client base. In his previous roles, Pilgrim has acted for sovereign wealth funds, REITs, developers, insurance companies, pension funds, and investment managers. Nick Walkley, principal and UK president at Avison Young, said: “Chris brings vast expertise and is a landmark addition to our capital markets team. Bringing international knowledge, Chris will push forward global cross-collaboration across clients and services. This appointment will significantly strengthen our capital markets presence in London, whilst bolstering Avison Young on an...

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Lovisa makes regional debut in Peterborough

Lovisa has opened at Queensgate Peterborough, making its regional debut. The jeweller has opened a 1,630 sq ft store on the scheme’s Lower Mall – adjacent to anchor tenant Boots – which offers a range of earrings, necklaces, bracelets, rings, body jewellery, and hair accessories. The opening of Lovisa comes amid an increase in demand for jewellery at Queensgate. Sales in the category were up by 10.7% at the scheme in June, ahead of the UK average. Lovisa adds to the existing jewellery offer at Queensgate which includes a new Pandora, TAG Heuer, Swarovksi, Beaverbrooks, and Fraser Hart. In addition, Goldsmiths is set to create a 6,674 sq ft showroom at the scheme. Ed Ginn, director of investment management at Invesco Real Estate, said: “Lovisa is a key addition to Queensgate’s critical mass of jewellery brands, creating an offer unavailable anywhere else in the catchment. This concentration of choice attracts consumers from across the region, and is driving a significant out-performance in the category. Combined with the strength of our fashion offer, which is going to be enhanced even further over the coming months, and our new leisure offer, Queensgate is the region’s number one choice.” This new addition to Queensgate’s jewellery...

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Holland & Barrett seeking more Midlands stores

Holland & Barrett has released its latest requirements list as it looks to open and relocate more stores across the Midlands and East Anglia. This comes after the health food shop recently relocated its store in Ipswich. The retailer is seeking units ranging between 1,500 sq ft and 2,000 sq ft on the ground floor. Larger units are also being sought in regional shopping centres and major city centres with high footfall. Holland & Barrett is also looking to open smaller units (700 sq ft+) in travel hubs, and will consider concessions, kiosks, and ‘pop-ups’ in high footfall retail locations. Target locations include: Other locations across the Midlands and East Anglia will also be considered. Rawstron Johnson has been appointed to find suitable locations.

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Citizen opens first outlet store at Gunwharf Quays

Citizen has opened its first-ever outlet store at Gunwharf Quays in Portsmouth. Located adjacent to The Perfume Shop, the 830 sq ft unit offers a range of the watchmaker’s owned brands, including Citizen, Bulova, Frederique Constant and Alpina. The centre has also welcomed the arrival of The Fossil Thief, a locally owned taproom and coffee shop. Yvonne Clay, centre director at Gunwharf Quays, said: “The arrival of Citizen further strengthens our premium accessory offering, while the opening of The Fossil Thief adds a fantastic local independent business to our food and beverage line-up. “These two new additions, alongside other recent new brands and our centre developments and enhancements, underscore our commitment to continually evolving and delivering to our guests the best possible day out experience for shopping, leisure and dining.” This follows the recent news that Oliver Bonas is set to open its first-ever outlet store at Gunwharf Quays.

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Hammerson completes £319m Bullring acquisition

Hammerson has completed the acquisition of the 50% stake it did not previously own in Birmingham’s Bullring and Grand Central for £319m. The real estate investment trust previously said that 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. 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 also said that Grand Central represents a compelling redevelopment opportunity. Around half of the space, representing a former John Lewis department store, is currently vacant. However, a strip-out was completed in 2023 and planning is in place for the group’s Drum concept – an office-led mixed-use redevelopment of the space. When the acquisition...

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Stradivarius makes North East debut at Metrocentre

Stradivarius has made its debut in the North East of England at Metrocentre in Gateshead. Extending to 10,000 sq ft, the womenswear brand’s store is located on the Lower Red Mall, joining other fashion brands including Reiss, Mango, and Zara. Ben Cox, director at Sovereign Centros from CBRE, asset manager of Metrocentre, said: “Stradivarius is a great addition to Red Mall, enhancing the line-up by providing a complementary, point of difference to the existing fashion offer. That Metrocentre is the only place in the region you can now find fashion powerhouses Zara and Stradivarius is an indication of the destination’s importance to the North East retail landscape; somewhere that creates unique day-out experiences and an unparalleled tenant mix.” Stradivarius joins recent arrival Activate at Metrocentre, with the likes of Urban Outfitters and Søstrene Grene set to join the scheme in the coming months. Lunson Mitchenall acted for Sovereign Centros from CBRE.

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Australian fitness franchise appoints Rapleys as it targets UK expansion

Australian fitness franchise Body Fit Training (BFT) has appointed strategic property consultancy Rapleys to support its UK growth. BFT – which operates 330 studios across 13 countries – is looking to expand its UK footprint on the back of openings in Battersea, Leicester, Hackney, and Croydon. With three more UK studios set to open in 2025, Rapleys has been appointed to find additional locations across London to bolster BFT’s growing portfolio. BFT and Rapleys are seeking sites ranging in size from 1,600 sq ft to 3,500 sq ft across a single level, with a minimum ceiling height of 3 metres and Class E planning use. Locations across London are being considered, with preference for highly visible high street positions, mixed-use developments, and railway archways. This comes after Rapleys’ recent appointment of the former Avison Young retail team to the business, including Ella Traynor and Lewis Sinclair who, led by Partner Dan Kent, will be working on the BFT instruction. Last month, Rapleys was instructed to support the Manchester Airport Group in delivering a new retail and F&B tenant mix within the £700m Stansted Airport expansion. It is also retained to source large-format stores for Sainsbury’s, as the retailer continues its strategic growth. Lewis Sinclair, associate...

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Aldi to open one store a week for rest of 2025

Aldi is set to open an average of one store a week between now and the end of the year. In addition to the new openings, the supermarket retailer will refurbish 35 of its existing stores before the end of 2025. Locations in which Aldi will open new stores include: Aldi is set to invest around £650 million across the UK via its store opening and refurbishment programme in 2025. Jonathan Neale, managing director of national real estate at Aldi UK, said: “At Aldi, our goal is to make sure people across the UK have access to affordable, high-quality food, and opening new stores is key to making that happen. “We’re now opening an average of one new store a week for the rest of 2025, showing just how ambitious our plans are to build a store network that will help us reach millions of new customers. But it’s not just about openings – it’s also about making sure we have the best-paid teams in place to run them.”

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Leisure operator bowls into Reading’s The Oracle

Leisure operator Hollywood Bowl has opened at The Oracle shopping centre in Reading. Located within the former House of Fraser department store, the 38,000 sq ft venue features 24 bowling lanes and a sports bar, a first for Hollywood Bowl. The brand’s arrival at The Oracle adds to the scheme’s Riverside leisure offer, providing a key new footfall generator. The launch also follows the recent opening of a new 45,000 sq ft TK Maxx store at The Oracle and comes ahead of the opening of a new 40,000 sq ft Zara store next year. Earlier this year, Hollywood Bowl said it has a strong pipeline of new openings for 2025, and is on track to open 130 centres by 2035. Bruce Gillingham Pollard advised Hollywood Bowl. FMX Urban Property Advisers advised the landlord Hammerson.

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PURESEOUL expansion accelerated by £4.1m funding package