Posts from January 2026

The new owners of Christopher Place in St Albans have appointed Cushman & Wakefield as leasing agents for the scheme. The 88,000 sq ft city-centre destination features 34 retail units and a car park, with plans currently underway to transform it into a hub for affordable luxury shopping with a dining experience. Cushman & Wakefield said it is ready to drive forward a series of targeted initiatives to enhance the estate, and establish Christopher Place as a prime destination for shoppers and diners. This comes after the scheme was acquired by a joint venture between Peterborough Capital and George Capital from Legal & General last year. Under the terms of the joint venture, George Capital will lead the asset management of Christopher Place.

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Leisure operator signs for 20,000 sq ft at Livingston Designer Outlet

Indoor adventure park operator Flip Out is set to join Livingston Designer Outlet after signing for a 20,000 sq ft space at the scheme. The new venue will be Flip Out’s second location in Scotland, featuring a range of activities including trampolining, ‘Ninja Tag’, inflatables, soft play, a roller rink, as well as party rooms and a diner. The arrival of Flip Out marks the latest step in the ongoing evolution of Livingston Designer Outlet. The venue will add to the scheme’s existing leisure line-up which includes a cinema, and join further openings such as Hamilton & Brown. Nicky Lovell, head of outlets and business development at Global Mutual, said: “Flip Out’s arrival represents a significant milestone in our repositioning of Livingston Designer Outlet. Our vision is to create a destination that goes beyond retail, blending shopping with leisure and dining to deliver a best-in-class experience that stands out across the region.”

Deals News

RLAM completes pair of pre-lets on London’s Bond Street

Royal London Asset Management (RLAM) has completed two pre-lets to Peter Millar and Dunhill on London’s Bond Street. Luxury leisure and performance wear brand Peter Millar is set to take space at 111/117 New Bond Street, a flagship unit which is being reconfigured into three smaller stores. This marks a debut outside of the US for Peter Millar and will follow the luxury boutique format of the brand’s Madison Avenue store in New York City. Meanwhile at 128-129 New Bond Street, work is currently underway to accommodate a new Dunhill flagship store, bringing the British heritage menswear brand to the area. Anthony Selwyn, co-head of global retail at Savills, which advised RLAM, said: “Advising on these lettings highlights how exciting this period is for Bond Street, where we’ll see a dramatic transformation of the pitch over the next few years. As brands recognise that the prime pitch is expanding with the delivery of Royal London Asset Management Property’s scheme and Lazari’s Fenwick redevelopment to follow in 2027, these projects are being created to meet the growing demand for exceptional retail.”

Deals News

British Land’s Simon Carter to step down as CEO

British Land has announced that its chief executive officer Simon Carter is to step down after five years in the role. Carter – who has worked at British Land for a total of 18 years – will be leaving to take on the role of CEO at P3 Logistics Parks, an investor, manager, and developer of logistics properties in Europe. He initially joined the real estate investment trust in 2004, working in a number of roles across strategy, corporate finance, and treasury before leaving in 2015 to become chief financial officer at Quintain Estates & Development and, later, Logicor. He returned to British Land as CFO in 2018 before being appointed as CEO in 2020. William Rucker, chair of British Land, said: “On behalf of the Board, I want to thank Simon for his significant contribution to British Land. During his 18 years here across two stints he has achieved a huge amount, and as CEO has positioned the business for future success with a very strong management team and an exceptional London office campus and retail park platform. We wish him all the best in his new role at P3.” Simon Carter added: “British Land has been a huge part of my...

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Gloucestershire food store handed £3.6m price tag

9th January 2026

A freehold food store investment in Coleford, Gloucestershire has been placed on the market with an asking price of £3,620,000, reflecting a net initial yield of 7.00%. Situated close to the town’s high street, the store extends to a gross internal area of 21,433 sq ft with demised parking and is let on a recently re-geared lease to The Midcounties Co-operative for an unexpired term of 14.3 years. The asset is located adjacent to a Lidl supermarket, which extends to 16,645 sq ft. The property produces an annual rent of £270,000 per annum, equating to £14.21 per sq ft. The historic market town of Coleford is situated in the centre of the Forest of Dean in the Wye Valley. It is located 20 miles south west of Gloucester, 12 miles north of Chepstow, and 30 miles north of Bristol. Colliers Retail Capital Markets team has been appointed to find a suitable purchaser.

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RivingtonHark appoints investment consultant as it grows shopping centre portfolio

9th January 2026

RivingtonHark has appointed Guy Harrison as an investment consultant, as the firm looks to grow its UK shopping centre portfolio. He brings over 30 years’ of experience in retail investment agency, with a focus on shopping centres and town centre retail. Prior to joining RivingtonHark, Harrison held senior roles at Lunson Mitchenall and CBRE, advising a range of clients including institutions, property companies, and public sector bodies. RivingtonHark said it is currently working with its existing investment partners to assemble a £250 million portfolio of shopping centre assets across the UK, which Harrison will look to help deliver. Mark Williams, chair of RivingtonHark, said: “I have known Guy for over 20 years, and his extensive retail investment agency experience, combined with his analytical approach, make him an excellent addition to the RivingtonHark team.” Guy Harrison added: “I am delighted to be joining RivingtonHark at a pivotal time when shopping centres are becoming increasingly attractive as an investment case and the flow of stock is expected to improve. The company’s disciplined investment philosophy and focus on partner outcomes strongly align with my own approach, and I look forward to contributing to its continued success.”

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Sephora picks Bristol’s Cabot Circus for first store in the South West

9th January 2026

Sephora is set to open its first store in the south west of England at Hammerson’s Cabot Circus in Bristol. The beauty retailer’s new store will open in the spring, offering a range of products including exclusive ‘Only at Sephora’ brands. This news follows the launch of a flagship 80,000 sq ft M&S store at Cabot Circus last year, and Sephora will arrive shortly after a new ODEON cinema which is due to open in February. The signing marks Hammerson’s second letting to Sephora, following the brand’s opening at Birmingham’s Bullring for its Midlands debut. Paul O’Brien, director of leasing and commercialisation at Hammerson, said: “We’re thrilled to be welcoming Sephora to Cabot Circus and we know customers will be too. Securing this beauty powerhouse underpins Cabot Circus’ leading position in the South-West and underscores the demand for our prime city location. It builds on a series of carefully curated new arrivals across retail, food, drink and leisure. These brands are choosing to grow with us in the heart of Bristol, drawn to our location and catchment across the city and beyond, enabling the best and latest experiences for our customers.”

Deals News

Northern Ireland outlet centre hails record year

The Boulevard outlet shopping centre in Banbridge, Northern Ireland has announced that 2025 was its most successful year to date, with record figures in both sales and footfall. The centre finished the year with total sales up by 11.5% year-on-year, while footfall at the scheme increased by 12.3% compared to 2024. Performance at the centre in December was particularly strong, marking the best month in The Boulevard’s history since it opened. Every week in December produced record sales growth, with the final trading week achieving a 24% uplift in sales and a 37% increase in footfall compared to the previous year. Overall, December at The Boulevard saw cumulative growth of 10.5% in sales and 19% in footfall. In 2025, The Boulevard welcomed a number of major brands onsite for their first or only locations. Women’s fashion retailer, Vila opened its only standalone UK store, cosmetics brand BPerfect opened its first ever outlet store, French Connection opened its only Northern Irish store, and Swedish furniture giant IKEA opened its first-ever concept store at the scheme in 2025. They joined existing tenants at the scheme such as Kate Spade New York, Marks and Spencer Outlet, Adidas, Nike, Under Armour, Kurt Geiger, GUESS, and Radley. The...

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Overgate Dundee reaches 90% occupancy following 88,000 sq ft of new lettings in 2025

The Overgate shopping centre in Dundee is now 90% occupied after the scheme welcomed 88,063 sq ft of new lettings in 2025. The scheme – which was acquired by Frasers Group in March 2023 – completed 10 new lettings in 2025, as well as five store renewals totalling 12,634 sq ft. Overgate also completed three major store refreshes. Over the course of the year, the scheme welcomed the likes of FRASERS, FLANNELS, Clarks, Mango, Clintons, Nomination, Menkind, Bee Inspired, and Oud Studio. Lease renewals at Overgate included Ernest & Jones, Flying Tiger, and Fuel, whilst Superdrug, Next, and Primark invested into their existing stores through extensions and refurbishments. Matt Elgey, director at Sovereign Centros from CBRE, said: “We are pleased to be entering 2026 on a positive note for Overgate. Ten new store openings, including FRASERS, occupying an impressive combined total of 88,063 sq. ft have been delivered in 2025. A further five lease renewals totalling 12,634 sq. ft, as well as three key store refreshes, concluded the year on a position of strength for the centre. “Since the acquisition of Overgate by Frasers Group in 2023 the momentum underpinning these improvements has been conducted at pace. Sovereign Centros from CBRE...

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Knight Frank IM offloads pair of high street retail assets

Knight Frank Investment Management (KFIM) has sold a pair of high street properties to separate buyers. The properties are located at 70 North Street, Chichester – which is positioned on North Street and is let to Nero – and 41A George Street in Richmond, which occupies a prime position on George Street and is let to Jigsaw on a new five year lease. Joe Baio, equity partner at Forge Commercial Property, which acted for KFIM, said: “We are proud to have delivered two strong outcomes for our valued client, KFIM, achieving compelling NEY exits in both cases. These positive results bring to a close Forge’s long-standing involvement with the respective properties, which has included two lease renewals of Jigsaw in 2020 and 2025, as well as the original letting to Nero’s, followed by a regear in 2020.” Mason Partners and GCW Property Consultants acted for the purchasers in the Chichester and Richmond transactions, respectively.

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Greggs to open 120 new stores in 2026

Greggs is expecting to make 120 net new store openings in 2026, with the food-to-go operator highlighting a “strong pipeline” of shop opportunities. In 2025, Greggs opened 207 new stores – an average of four per week – including 50 relocations and 36 closures. This resulted in 121 net store openings over the course of the year. As of 27th December, Greggs operated a total of 2,739 shops, comprising 2,137 company-managed stores and 602 franchised units. The chain said that its estate expansion programme is developing its reach into new locations in under-penetrated catchments, as well as relocating constrained existing shops to better locations to facilitate further growth. This comes as Greggs releases a trading up date for the fourth quarter of 2025, a period during which its sales were up by 7.4%. Over the course of the year, total sales reached £2.151m, up by 6.8% compared to 2024. Roisin Currie, chief executive of Greggs, said: “We made good progress in 2025, in a challenging year where subdued consumer confidence impacted the food-to-go market. Against this backdrop, I’m pleased that Greggs outperformed the wider market and increased its market share of visits. “We enter 2026 with a strong pipeline of new opportunities...

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GPE expands West End portfolio with £51m office and retail block acquisition

Great Portland Estates (GPE) has acquired a new 155 year leasehold interest in London’s West End for a total consideration of £51m from the City of London Corporation. Located at 10 South Crescent, WC1, the building will be repositioned to create a decarbonised office and retail building with amenities and an enlarged roof terrace. Located minutes from Tottenham Court Road’s Elizabeth line station, 10 South Crescent joins an existing cluster of GPE buildings around Alfred Place which provide a mix of Grade A HQ and fully-managed space. GPE said the purchase price reflects a net initial yield of 6.8%, and a projected running yield of 7.1% when the vacant retail unit is let. Harry Buxton, investment manager at GPE, said: “10 South Crescent is a valuable addition to our central London portfolio and further demonstrates our ability to find value in our core West End markets. Since our 2024 rights issue, we have now acquired six West End repositioning opportunities with an estimated capital commitment of circa £440m and at a combined discount to replacement cost of some 60%.”

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Strong Boxing Day wraps up successful festive period at Metrocentre

Metrocentre in Gateshead has recorded a strong festive trading period, with increases in both footfall and sales. Boxing Day in particular delivered a standout performance, with footfall up by 7.6% year-on-year, outperforming the national average of 4.4% for shopping centres and high streets in the UK. Throughout December, over 16 million shoppers visited Metrocentre, an increase of 1.5% against the same period in 2024. These increased figures come after a number of new additions to the scheme in 2025, as Metrocentre looks to diversify its tenant mix with a combination of retail, F&B, and alternative uses. Over the course of the year, Metrocentre welcomed regional debuts for brands such as Stradivarius and Activate, as well as openings for Urban Outfitters, Søstrene Grene, Diamond Factory and Maki & Ramen. The destination also announced a UK exclusive for Peppa Pig: Surprise Party, set to open in the coming months, as well as stationery and homeware retailer KENJI. Ben Cox, director at Sovereign Centros from CBRE, asset manager of Metrocentre, said: “We have ended 2025 on such a high, with strong leasing activity and continued investment across the scheme from the owners and brands. This work done in the last 12 months will really...

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Newmark appoints UK and European retail agency head

Newmark has appointed John Corlett as head of UK and European retail agency, as the commercial real estate company looks to strengthen its position nationally and across the continent. Covering the firm’s transactional retail teams, Corlett will report to David Harper, managing partner and Newmark’s head of UK retail. The appointment follows the retirement of Andrew Bathurst, who had previously led the firm’s UK retail agency business. Corlett brings international experience to the role, combining his previous leadership of the firm’s International Agency department with expertise in retail tenant advisory. He operates across the UK and continental Europe, providing guidance to an array of global retail clients. He said: “I am honoured to take on this role at such an exciting moment in Newmark’s growth story. My priority is to build on the exceptional service our business is known for and to support collaboration across the company as we continue to expand. Our reputation for trusted, tenant-focused advice remains unchanged, and I am excited for our future ahead, led by innovation and digital transformation. We will continue to put our clients first and maintain our focus on delivering industry-leading advisory services.” David Harper added: “This marks a new era for Newmark‘s Retail...

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Harlequin Watford cooks up Pan-Asian restaurant opening