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News
Industry body launches campaign to keep BOXPARK Shoreditch open
26th July 2024Industry body The Night Time Industries Association (NTIA) has launched a campaign calling on Hackney Council to keep BOXPARK Shoreditch open. BOXPARK is set to vacate the site by the end of the summer, after reaching the expiration of its lease and being served notice by its landlord. This comes after the Mayor of London approved planning permission for the redevelopment of the 4.5 hectare site, with BOXPARK making way for new homes, retail, leisure, and office space, and a new park. Opening in 2011, BOXPARK Shoreditch began as a ‘meanwhile use’ scheme at Bishopsgate Goodsyard. The venue was created to provide a platform for independent businesses to develop their brand and served as a catalyst for the regeneration of Shoreditch. The NTIA described the scheme as a “vital” part of East London’s social and cultural fabric. The group said the site’s potential closure would not only “devastate” the businesses and individuals it supports, but also set back regeneration efforts in Shoreditch. The NTIA added that Hackney Council’s “failure” to protect the site would be a “glaring oversight”. Michael Kill, CEO of the NTIA, said: “Boxpark Shoreditch exemplifies the exact issue faced across the country with red tape and restrictive regulatory […]
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Deals
Indian café Chaiiwala opens second drive through as it targets 500 locations
25th July 2024Indian street food café Chaiiwala has opened its second drive-through location as it targets 500 locations internationally over the next 10 years. The 2,000 sq ft restaurant has opened in partnership with EG On The Move at a former KFC and Costa site in Mellor Brook, outside Blackburn. The new restaurant is Chaiiwala’s 112th location worldwide, and comes after the brand recently opened in Bolton, launching the UK’s first drive-through restaurant that serves Indian street food. As part of the ongoing partnership, EG On The Move – which recently announced plans to acquire over 120 new sites over the next three years – is set to invest in a further three Chaiiwala drive-through openings by the end of the year. Last month Chaiiwala also opened its first eatery at London Luton Airport, with plans in place to open more concessions at similar air and land transportation hubs. Muhummed Ibrahim, chief executive officer at Chaiiwala, said the new 100-seater venue is the largest store development in the current Chaiiwala UK network. He added: “We are delighted to add another great location to our portfolio especially hot on the heels of opening at London Luton Airport. “Mellor Brook drive-through is a great site and […]
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Requirements
KLM appointed to support American QSR brand’s UK rollout
11th July 2024Hospitality investment firm Azzurri has appointed KLM Real Estate to support the UK rollout of US quick service restaurant (QSR) brand Dave’s Hot Chicken. Founded in 2017, Dave’s Hot Chicken operates over 200 sites globally, and has now signed a franchise agreement with Azzurri to open in the UK, with a debut location set to open in London later this year. The brand is backed by big celebrity names such as Drake, Samuel L Jackson, and Usher, and is one of the fastest-growing restaurant brands in the US and on social media. Oli Marcroft, head of leisure at KLM Real Estate, said: ‘We are really excited to help Dave’s (Hot Chicken) to launch in the UK, having had the pleasure of experiencing their restaurants in LA earlier this year, we can’t wait to see the magic arrive in London” KLM Real Estate is initially looking for restaurants in Central London with a footprint of 2,000-3,000 sq ft.
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Insights
Cotswolds Designer Outlet: Q&A with the team behind the development – plus the latest pictures
16th July 2024Construction continues to progress at Cotswolds Designer Outlet in the southwest of the England, one of the few new outlet destinations in development in the UK this year. Led by developer Robert Hitchins, Cotswolds Designer Outlet is being delivered in two phases and is set to create 186,000 sq ft of outlet space for up to 90 fashion, sport, lifestyle and F&B brands. With less than a year till Phase One opens, the scheme is already 75% exchanged or in legals. Outlet retail specialist Multi-Realm (formerly Realm) is leasing and operating the scheme. Completely Retail News spoke to Christine Grace, leasing director at Multi-Realm, and Simon Tothill, property and development director at Robert Hitchins, about outlet shopping and how development at the scheme is progressing: While high streets and shopping centres are still feeling the pinch of the cost-of-living crisis, how are outlets still able to report good performance and what does this say about overall retailer confidence? Christine Grace and Simon Tothill Leisure and F&B play an important role in most successful retail schemes, what does it mean for outlet retailing, and what can we expect to see at CDO? How do brands (fashion brands in particular) think about […]
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News
RICS: Retail property lagging behind office and industrial
26th July 2024The Royal Institute of Chartered Surveyors (RICS) has found that high street properties underperformed compared to other commercial sectors during the second quarter of 2024. According to the latest Royal Institution of Chartered Surveyors UK Commercial Property Monitor, the commercial viability of the UK’s high streets must be improved, as retail lags behind office and industrial property. The monitor found that overall confidence in the UK’s commercial property market remained flat during the second quarter of 2024. Meanwhile, the performance gap between prime and secondary property, and between London and the rest of the country, continued to widen. Tenant demand across all commercial sectors also remained flat (+4% net balance), with industrial property and offices outperforming retail, where respondents are seeing a slight decrease in tenant demand. However, in a sign of improved positivity, 41% believe that the market is in an early recovery stage, whilst 34% think the market has reached its bottom. RICS senior public affairs officer, Sam Rees, said: “When it comes to commercial property, there remains a need to increase investment in retail and the high street. The Government have talked about several ways to improve retail conditions including introducing high street banking hubs, the revamping […]
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