Posts from March 2026

Great Portland Estates (GPE) has completed the sale of the wells&more building in Central London to Feldberg Capital on behalf of Fastighets AB Balder for a headline price of £172m, reflecting a net initial yield of 5.0%. Located in a corner position on Wells Street and Mortimer Street in the heart of Fitzrovia, the freehold property was developed in 2009, and before undergoing refurbishment in 2022. It comprises 116,000 sq ft of Grade A office, retail, and medical space across lower ground, ground and five upper floors. It is let to a range of customers including Heineken, Airwallex, and Brown Forman Beverages, and generates annual rent of around £9.2m, with a weighted average unexpired lease term of 5.5 years to expiry. GPE said the sale price sits marginally ahead of the September 2025 book value and around 5% ahead of March 2025. Alexa Baden-Powell, head of investment at GPE, said: “With the offices now fully let and our business plans complete, the sale of wells&more further demonstrates our ability to recycle capital at the right point in the cycle, delivering strong investment returns while enabling us to reinvest the proceeds across both our acquisition and development pipelines.”

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M Core achieves full occupancy at Lichfield shopping centre

M Core has achieved full occupancy at M Three Spires in Lichfield, Staffordshire, following the completion of a number of retail transactions. A new five-year lease has been secured with Gacha Claw, which will introduce a family‑friendly entertainment and café concept to the centre. The 2,774 sq ft venue will combine claw machines, a retail area, and a café serving bubble tea, light bites, and desserts. It will also feature a dedicated party room. Meanwhile, Sports Direct has reaffirmed its long-term commitment to the scheme with a new five-year lease renewal for its 6,555 sq ft store. Savers ahs also recommitted to the scheme with a new 10-year lease. The retailer completed its refurbishment of the 3,713 sq ft unit and opened in early March, strengthening the centre’s health and beauty offering. Finally, Co‑op Travel has taken a new 10‑year lease at the scheme. The store offers customers access to travel planning and holiday services. These lettings are underpinned by a strong year of visitor performance throughout 2025. Annual footfall rose by 2% year-on-year, with over 2.4 million visitors recorded across the calendar year. In December, footfall rose by 10.16% compared to 2024. Barry Flint, director and asset manager for...

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Sephora to open one of its largest Scottish stores at Glasgow’s Silverburn

Sephora is set to open one of its largest stores in Scotland at the Silverburn shopping centre in Glasgow. The beauty retailer’s new space will span 5,000 sq ft and stock Sephora’s UK exclusive products, along with selected brands, such as rhode, Haus Labs, Makeup by Mario, Merit Beauty, INNBeauty Project, Tower 28 and Half Magic. Since launching its first store in London in 2022, Sephora UK has expanded to 12 locations nationwide, including in Birmingham, Cardiff, Manchester, and Newcastle. Opening in the third quarter of 2026, Sephora joins a number of global brands at Silverburn, including H Beauty, Zara, and Stradivarius. Alberto Esguevillas, CEO of UK retail at Eurofund Group, said: “The arrival of Sephora UK marks the culmination of a strategic repositioning exercise which has seen us deliver a host of much-loved global brands to Silverburn. Having experienced strong demand from consumers and retailers in this space, Silverburn has already established itself as Scotland’s leading destination for beauty and cosmetics brands, which will be further enhanced by the arrival of Sephora UK.” In 2025, Silverburn delivered record footfall for the third consecutive year, attracting 16.5 million visitors and achieving around 23% year-on-year sales growth. Since their acquisition in 2022,...

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Korean grocery retailer opens at Queensgate Peterborough

Korean-inspired grocery retailer Seoul Plaza has opened at Queensgate Peterborough, making its debut in the city. The retailer’s new 4,099 sq ft store, located alongside New Look in the scheme’s Lower Mall, offers a range of supermarket-style groceries, snacks, and ready to eat meals. A leading importer of Korean food in the UK, Seoul Plaza also offers an range of Japanese, Chinese and Thai products. The Seoul Plaza concept includes the retailer’s hot food counter, offering Korean staples including bibimbap, Korean fried chicken, and bulgogi, with seasonal menus featuring authentic street food. Seoul Plaza joins Queensgate’s existing lineup of retailers, sitting alongside recent additions including MINISO, Rituals and Lovisa. Ed Ginn, director of investment management at Invesco Real Estate, said: “Seoul Plaza’s opening is another exciting step in Queensgate’s evolution, bringing a unique grocery and food-to-go offer that enhances the centre’s appeal to both local shoppers and visitors. Following the strong leasing momentum across last year, this is a fantastic way to kick off 2026, and reinforces the continued confidence of aspirational and multi-purpose brands in Queensgate.” The news of Seoul Plaza’s opening follows the arrival of FRASERS at Queensgate, which opened its flagship store in December 2025. The 60,000...

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Topologie opens third London store in Soho

Topologie has opened its third store in London at 79 Berwick Street in Soho. The climbing-inspired fashion brand’s new store offers a range of climbing ropes and hardware, and joins its existing London stores in Shoreditch and Covent Garden. At the heart of the store is the transformative Topologie Wares System, which allows customers to curate their own personalized collection. The system includes over 100 interchangeable straps inspired by authentic climbing ropes and hardware, paired with bags and cases. The brand has previously collaborated with Ed Banger Records, A.P.C., Maison Kitsuné, Clarks, and most recently, Pleasures. William Oliver, director of retail and restaurant leasing at Shaftesbury Capital, said: “Topologie is a great example of an ambitious, growing brand with a strong track record of success, making it the perfect addition to the Soho neighbourhood. Our ability to support the brand’s continued expansion across our portfolio, following the success of their Covent Garden flagship, reflects both Topologie’s dynamic momentum and our commitment to curating distinctive retail experiences across the West End.”

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Battersea Power Station appoints former Quintain boss as CEO

Battersea Power Station Development Company (BPSDC) has appointed James Saunders as chief executive officer, effective from 7th April 2026. He joins from Quintain, where he has spent the last 18 years leading the mixed-use Wembley Park development. During his tenure at Quintain, Saunders served as commercial director, chief operating officer, and most recently as CEO, a post he has held for six years. After a decade at BPSDC during its transformational phase, including the last nine months as interim CEO, Sam Cotton has announced that he will leave the company at the end of April. This news follows BPSDC’s recent appointment of strategic urban design practice Studio Egret West to evolve the original masterplan for the remaining 16-acres of the 42-acre riverside neighbourhood. The new plans have the potential to create up to 3.2 million sq ft of residential, commercial, cultural, and leisure space. James Saunders, incoming CEO of BPSDC, said: “I am delighted to be taking the reins at such an iconic project at a pivotal moment in its journey. Battersea Power Station is experiencing remarkable growth and is now firmly established as one of London’s leading destinations, as well as being at the start of an exciting new phase...

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Wittington Investments sells Newcastle retail block

Forge Commercial Property has sold a retail block in Newcastle on behalf of Wittington Investments (WIPL) to a French investment firm. The property, located at 60-62 Northumberland Street, is located opposite the main entrance to Eldon Square and comprises 26,850 sq ft of retail accomodation. The asset is fully let to Deichmann Shoes and Cotswold Outdoor on two new 10‑year leases, secured at rebased rental levels with a weighted average unexpired lease term of 8.93 years to expiry. Jonathon Mills, equity partner at Forge Commercial Property, said: “With Forge having recently completed the new letting to Deichmann Shoes, it was great to help our long-standing client, WIPL, capitalise on this and achieve a successful sales process. The property attracted considerable interest from a range of UK based and overseas investors, which resulted in a competitive bidding process, culminating in a successful sale to a French SCPI.” Knight Frank acted for the purchaser.

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Pets at Home to invest over £3m in four new UK locations

Pets At Home is investing over £3m into four new locations across the UK. The retailer is opening stores in Nottingham, Sheffield, Kew (London), and Glossop in Derbyshire, adding 20,000 sq ft of space to its estate. The Kew and Glossop stores have already opened, the former spanning 9,911 sq ft and focusing on retail services and specialist petcare advice, whilst the Glossop location has opened as a relocated and expanded 7,663 sq ft petcare centre. Later this month, Pets at Home will open two new Vets for Pets practices in Sheffield and Nottingham, with the sites spanning 1,410 sq ft and 1,913 sq ft, respectively. The retailer said the investment forms part of its ongoing strategy to expand and modernise its network of petcare centres. Anja Madsen, chief operating officer at Pets at Home, said: “Continued investment in our physical estate is central to our retail strategy and to strengthening our wider petcare ecosystem. “By modernising our stores and expanding into new locations, we are enhancing the in-person experience that so many of our customers value, from tailored advice to convenient, integrated services.” Richard Dening-Smitherman, managing director of Vets for Pets, added: “Our unique joint venture model continues to set Vets...

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The Sloane Stanley Estate to welcome 10,000 sq ft of pop-ups to Chelsea’s King’s Road

The Sloane Stanley Estate is set to welcome a series of pop-ups to Chelsea’s King’s Road over the coming months. Together the brands – which span art, fashion, and lifestyle – will take over 10,000 sq ft of space within the West London neighbourhood. Contemporary accessories brand Kaya Nuka has returned to the King’s Road, opening at No. 324-326 for its sixth pop-up with Sloane Stanley. Meanwhile UK label Stoned & Waisted, known for its luxury shearling coats, reversible pieces and outerwear, will be opening at 340 King’s Road between the 12th and 25th of March. Sloane Stanley will also welcome back London-based womenswear label, Minka Dink, which returns for its third pop-up following a successful debut a few years ago. It will open a 1,728 sq ft unit at 324-326 King’s Road from 21st March until 4th May. Jewellery brand Bijoux De Mimi is also returning to The Sloane Stanley Estate for an extended pop-up run, following the success of multiple shops across the portfolio. The brand has had great success within The Sloane Stanley Estate, and will follow Minka Dink at 324-326 King’s Road on 6th May for four months, closing on 16th September. Emerging fashion label Lexy...

Deals News

The Pet Vets takes former Poundland at Feltham’s The Centre

The Pet Vets is set to take over the former Poundland unit at The Centre in Feltham, West London. The veterinary surgery has agreed a new 10-year lease for a 5,200 sq ft unit, which is expected to open for trading in around five months’ time. The Pet Vet (formerly The Vet) is one of the country’s fastest-growing veterinary services provider, and operates a growing network of practices that look to focus on accessible and high-quality care for pets. WSB Property Consultants, which acted for The Pet Vet, is continuing to advise the operator on its expansion. GCW Property Consultants acted for the landlord.

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Christie & Co appoints head of leisure brokerage

Christie & Co has appointed Tom Glanvill as head of leisure brokerage, as long-standing director Jon Patrick retires. Tom Glanvill has been at Christie & Co for almost a decade and has held the position of head of garden centres since 2023. In his new role as head of leisure brokerage, Glanvill will look to accelerate the growth of Christie & Co’s leisure activity, with a continued focus on residential and holiday parks, marinas, visitor attractions, and wider leisure subsectors. Tom Glanvill said, “I am thrilled to step into this role and to work with the wide variety of dynamic and interesting leisure businesses we support. Jon has delivered outstanding work over many years, and I am now looking forward to building on the fantastic platform he has created.” This appointment comes as Christie & Co’s head of leisure and development Jon Patrick retires after 42 years at the company. He joined Christie & Co as a graduate in the Leeds office in 1984, initially establishing himself in the pub and restaurant sectors before helping to establish the company’s Newcastle office in 1987, before moving to the firm’s London head office. Over the last 25 years, Patrick has been at...

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Savills acquires global real estate investment bank

Savills has signed an agreement to acquire Eastdil Secured LLC, a US-based global real estate investment bank, for an enterprise value of $1.11bn (c. £830m). The real estate advisory firm said the transaction significantly enhances its positioning in capital markets advisory through the acquisition of a leader in real estate investment banking. Eastdil Realty was founded in 1967 by Benjamin V. Lambert in New York and over time the firm expanded globally before being acquired by Wells Fargo in 1999. In 2006, Eastdil Realty and Secured Capital Corp merged to create Eastdil Secured. In 2019, the firm’s management team led a recapitalisation in partnership with Guggenheim, Temasek, and Wells Fargo. Eastdil Secured is jointly led out of New York, Santa Monica, and London and has a global footprint of 20 offices, including across the United States and internationally in Dubai, Dublin, Frankfurt, Milan, Paris, and Hong Kong. Savills said that Eastdil Secured’s real estate investment banking business is highly complementary to its broader real estate services offering, with the combined group becoming the number two advisory firm globally for prime commercial real estate transactions above $100m (£74.6m), according to MSCI data 2021-2025. Eastdil Secured will continue to operate its existing...

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Liverpool FC to open first standalone London store on Oxford Street

Liverpool FC is set to open its first standalone store in London on Oxford Street later this year. Launching in May, the opening will see Liverpool FC become the first Premier League club to establish a retail presence on Oxford Street. The new London store will become Liverpool FC’s eighth outlet in the UK and Ireland, and joins a portfolio that spans 23 locations worldwide, more than any other team in world sport. The store will be based on the reigning Premier League champions’ flagship outlet at Anfield, and will offer fans an exclusive product range, alongside Liverpool FC’s own-brand collections, Adidas kits, and personalisation services. Lee Dwerryhouse, senior vice-president of merchandising at Liverpool FC, said: “Launching a store on Oxford Street is a significant milestone in our retail journey. Being part of one of the world’s most recognised shopping destinations underlines the momentum behind our retail growth and allows us to connect with more fans in a truly iconic setting. “Building on a record-breaking season, this move strengthens our ability to engage with supporters and deliver a best-in-class retail experience that reflects the ambition of Liverpool FC. Bringing the club to one of the world’s most famous and dynamic...

Deals

Footasylum makes return to Glasgow’s Silverburn

Footasylum has returned to Silverburn shopping centre, opening a 10,305 sq ft store at the Glasgow scheme. The footwear retailer’s new store joins its existing Glasgow locations, situated at Argyle Street, Fort Shopping Park, and Braehead Shopping Centre. The Silverburn store will offer a selection of new and exclusive product ranges, including third-party brands alongside Footasylum exclusive labels including Monterrain, Forena, Dripmade, and Epic Kind. Footasylum said its return to Silverburn reflects its wider UK store rollout strategy, which prioritises high-performing, high-footfall locations. Other recent openings for the retailer include Darlington’s Cornmill Centre, Bromborough’s Croft Retail and Leisure Park, and Forster Square in Bradford. Shannon Osman, head of retail at Footasylum, said: “Glasgow has always delivered for us, and returning to Silverburn was a clear priority. This new store brings us back stronger in a location that reflects the ambition of the brand. As we expand across the UK and internationally, investing in high-performing destinations like Silverburn remains central to our growth. We look forward to welcoming both new and returning customers to our new state-of-the-art store.”

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Greystar signs nursery and coffee shop to Pearl Yard Bermondsey

Greystar has added to its commercial offering at its Pearl Yard Bermondsey mixed-use development in South East London, with the signing of nursery operator Kinderzimmer and coffee operator Urban Baristas. Kinderzimmer has agreed a 25‑year lease for a 7,000 sq ft space, including both internal accommodation and a dedicated external area, whilst Urban Baristas has taken a 10‑year lease on a 1,000 sq ft unit. Both are due to open later this year. The lettings follow the recent opening of Freans House at Pearl Yard Bermondsey, which offers 121 operational apartments, with further homes scheduled for completion in the coming months alongside a range of resident amenities including a music room and a pet spa. Now moving into its next phase, Pearl Yard Bermondsey will look to deliver 1,600 new homes while celebrating Bermondsey’s industrial heritage. The scheme has been developed in collaboration with the London Borough of Southwark and represents one of the area’s most significant regeneration opportunities. Located on the site of the former Peek Freans Biscuit Factory, the development is looking to transform the historic site into one of London’s largest build-to-rent communities, delivering new homes alongside retail, leisure, and community space. Savills – which acted for...

Deals News

Italian dining concept opens in Covent Garden

Italian dining concept Burro has opened at Covent Garden’s Floral Court in Central London. Created by Conor Gadd, chef and co-owner of London’s Trullo restaurant, the 4,000 sq ft space will offer dishes such as Dover sole with prosecco and caviar; duck and porcini ragú; and a signature Vitello al burro, alongside desserts and drinks. Burro joins a number of chef-led concepts within Covent Garden, including The Barbary, Café Murano, STJOHN Neal’s Yard Bakery and Bar, Story Cellar and Buvette, which is due to open in Neal’s Yard later this year. Emma Matus, head of restaurant leasing at Shaftesbury Capital, said: “At Shaftesbury Capital, our focus is on curating best-in-class operators who reflect and elevate the distinctive character of Covent Garden. Burro’s arrival at Floral Court embodies our commitment to thoughtful innovation, exceptional quality and chef-led creativity. It is a standout addition that further enhances the neighbourhood’s reputation as one of London’s most dynamic, compelling, and sought-after dining destinations.” The opening of Burro follows the recent news that Inception Group has signed for a new flagship location in Covent Garden’s Market Building. Set to be a Mr Fogg’s Tavern, the 4,500 sq ft site will add to theneighbourhood’s mix of...

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WYE secures new leases with roadside service station operator

WYE (formerly Top Gift) has secured a series of new 15-year leases with leading roadside service station operator Extra Motorway Service Area (MSA) The agreements will cover existing locations including Baldock (A1(M) J10), Leeds (M1 J45), Cambridge (A14/M11 J24), and Peterborough (A1(M) J17), as well as flagship sites at Cobham (M25 J9/10) and Beaconsfield (M40 J2). A new WYE unit will also open later this year at Extra’s Blackburn service area (M65 J4). Additional space has been agreed and fitted at the Cambridge and Peterborough locations with a view to further enhance the customer experience. The new leases follow Extra’s established model, which incorporates both base rent and turnover‑linked elements. WYE offers a range of mobile and tech accessories through its network of kiosks and unit shops. The retailer offers over 10,000 product lines, designed around the needs of customers travelling on the UK’s motorway network. Tom Dobson, CEO of Extra MSA, said: “We’re proud to continue working with WYE and to give customers access to thousands of products tailored for the needs of those travelling on the motorway network. We’re committed to delivering ‘Extra mile’ services to visitors, ensuring they not only have access to a variety of high-quality food...

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Supermarket Income REIT’s portfolio valuation jumps by over a quarter in six months