Latest Retail News

Buccleuch acquires trio of Sainsbury’s Local stores

14th March 2025

Buccleuch Property has acquired three Sainsbury’s Local stores for a total of £5.6m. The stores – which are located in Telford, Colchester, and Lewisham – are leased to Sainsbury’s for a term of 15 years with indexed rent reviews. The stores range in size between 3,337 sq ft and 4,359 sq ft and all three were completed in the last three years. Philip Eves, director at Buccleuch Property, said: “The acquisition of these three properties is a great addition to our portfolio. The reliable long term income stream with indexation from a fantastic tenant allows us to take on more risk in other investments and the geographical spread of these properties fits well with our target investment locations. “The demand for convenience food stores is extremely strong, so we are delighted with the result. We greatly appreciate the assistance of all those involved in this transaction.” This follows Buccleuch’s recent acquisition of a mixed-use property in London’s Soho neighbourhood from Landsec for £14m. Cushman & Wakefield acted for Buccleuch, whilst Knight Frank acted for the vendor.

Former Birmingham department store and retail arcade handed £73m price tag

14th March 2025

A former department store in Birmingham which has been converted into offices along with a retail arcade have been placed on the market with a £73m price tag. CBRE has been instructed to Priory Court and The Lewis Building on Bull Street – which comprise over 250,000 sq ft of office, retail, and leisure space – on behalf of receivers. The sale also includes The Minories, a nine-unit retail arcade totalling 5,842 sq ft. The Lewis Building was one home to the Lewis’s department store before closing in 1991. It was acquired in 2014 by LGIM Real Assets, which carried out a refurbishment and relaunched it in 2017. Today the property contains 111,620 sq ft of Grade A office accommodation, let to four tenants, whilst Priory Court comprises 136,728 sq ft of offices with ground floor space let to pub operator JD Wetherspoon. Nick Woodward, head of investment properties at CBRE Birmingham, said: “Priory Court and The Lewis Building is a unique opportunity to acquire a high-quality office asset, anchored by long term government income whilst also presenting significant asset management opportunities to add value. “With a take-up of 842,200 sq ft across 96 deals in 2024, the Birmingham office...

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Newmark forms retail, hospitality, and leisure practice

14th March 2025

Newmark has made six appointments to form a new retail, hospitality, and leisure project and cost management practice. The new hires will support clients in the UK and Europe, providing specialist project, programme, and cost management expertise across retail, hospitality, and leisure portfolios. The practice will work closely with corresponding departments across building consultancy, occupier agency, business rates, and capital markets, looking to help brands at every stage of their real estate journeys. Leading the practice is Vinnie Kilner, who brings 17 years’ specialist experience in major projects, having advised international brands and occupiers on project delivery strategies, ranging from multiple store rollouts to flagship projects. Parin Patel joins as senior associate, providing programme management and project delivery expertise, having worked with retailers on large scale international expansions and being responsible for the construction of hundreds of stores. Also joining Newmark is Alfie Molloy, senior associate, who has a background in project and cost management. He joins with a focus on supporting Newmark’s leisure clients. Ine Roren, associate, will lead multi-territory programmes for high-profile brands, having worked on both the client and consultancy side of international store and showroom expansions.  Nathan Archer joins as senior cost manager. His experience spans luxury retail, food […]

Deals

Australian retailer Harvey Norman picks West Midlands shopping centre for new store and HQ

13th March 2025

Australian homewares retailer Harvey Norman is set to expand its UK presence with the opening of a new store and headquarters at The Gracechurch Centre in Royal Sutton Coldfield, near Birmingham. This comes after the retailer opened its debut store in England at Merry Hill in October 2024. The opening represents the first in a number of planned investments across the West Midlands, as part of the business’ wider UK and global expansion drive. Founded in 1982, Harvey Norman has since expanded its global presence and now has over 300 stores worldwide across Australia, Malaysia, Singapore, Slovenia, Croatia, New Zealand, the Republic of Ireland and Northern Ireland. Katie Page, CEO at Harvey Norman, said: “The West Midlands’ high grade retail space and exceptional connectivity are two key reasons why we’ve chosen Sutton Coldfield as the home of our new UK headquarters and to launch our next store here. Gracechurch will provide an excellent hub for our growing UK team and I look forward to returning to the region soon as we progress our expansion plans.” The opening forms part of a wider effort by the West Midlands Combined Authority (WMCA), which is backing plans to breathe new life into the […]

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Indoor activity park operator appoints agents to support UK rollout

7th March 2025

Indoor multi-activity park operator SuperPark United has appointed Savills to support its expansion across the UK. The brand – which was founded in Finland over a decade ago – is looking secure between 30 and 40 sites over the next five years, including a flagship in London. The operator is looking for unit ranging in size between 20,000 sq ft and 35,000 sq ft, located within shopping centres, retail parks, and high streets. SuperPark United operates in 23 locations worldwide, offering a range of nearly 100 activities, of which 30 to 40 are chosen per location. These include digital football, basketball, and baseball games, as well as climbing structures, obstacle walls, zip wires, slides, pedal cars, trampolines, and gymnastic floors. Jessica Hill, surveyor in UK restaurants and leisure at Savills, said: “We’re focused on securing locations that align with SuperPark’s vision for the future. The pandemic has had a huge impact on consumer behaviour, driving demand for more engaging and active experiences. The range of activities and flexibility on offer by SuperPark, provide a complimentary use to other leisure anchors. By focusing on nation-wide locations in retail and leisure destinations, we are confident that SuperPark will quickly become a standout destination” The […]

Insights

Fashion Week, a lesson for our high streets

3rd March 2025

By Juliana Bentel, graduate surveyor at Lunson Mitchenall. I recently had the opportunity to attend Paris Fashion Week 2025, and with London Fashion Week 2025 now coming to a close, I’ve been reflecting on the insights the high street can gain from these major moments in the couture calendar. It is no secret that bricks-and-mortar retail has suffered since the pandemic, but there has been one saving grace for our high streets and shopping centres that online shopping cannot replicate – immersive and dynamic shopping experiences. Fashion Week exemplifies the importance of experiential retail and engaging with customers, offering more than just products on a shelf. These immersive and dynamic ways of presenting new collections are already influencing retail spaces and trends, and the high street would do well to pay close attention. Throughout Paris Fashion Week, I attended a range of shows, with each designer presenting their new collections in immersive and unexpected ways. From deconstructed ‘avant-garde’ to theatrical performances and storytelling, each designer tapped into the cultural identity of their consumer to shape both their runway presentations and retail strategies. Japanese designer Maison Mihara Yasuhiro’s show was a great example of this. Yasuhiro’s shows transformed the audience to […]

Advice

Finding the right retail property for you

20th March 2024

Every business is unique, and for those who want to enter the world of physical retail, finding the right property is no different.

Noodle & Beer makes West End debut in Chinatown London

13th March 2025

Sichuanese restaurant concept Noodle & Beer has opened its second location and its first in the West End in Chinatown London. Located at 27 Wardour Street, the 950 sq ft restaurant caters to 42 covers across two floors and features an intimate basement dining setting. The menu features a selection of noodle-based dishes alongside a rotation of beers, while the venue will be open late from Thursdays to Saturdays and play host to DJs and game nights. Noodle & Beer joins other food and beverage concepts on Wardour Street including Pochawa Grill, Kung Fu Noodle, and Chinatown Bakery. Emma Matus, head of restaurant leasing at Shaftesbury Capital, said: “Chinatown London is renowned for the strength of its authentic ESEA culture, which Noodle & Beer adds to with a hospitality experience that goes further than great food and drink. Its launch is a great way to kick off 2025, right in the midst of Chinese New Year celebrations, and with Wardour Street one of the busiest areas anywhere in the West End, we are thrilled for Noodle & Beer to join the line-up.” The opening of follows Chinatown London’s Chinese New Year celebrations, welcoming in the Year of the Snake. These...

News

AEW UK acquires £10m Hertfordshire high street asset

14th March 2025

AEW UK REIT has acquired a freehold high street asset in Hitchin, Hertfordshire for £10m, reflecting a net initial yield of 8.31% and a capital value of £213 per sq ft. The property, located at 13/13A, 114-119, 121-123 Bancroft and 3-4 Portmill Lane, extends to 46,905 sq ft of space across 12 retail units, a standalone office building, and car parking and service yards. The retail element of the property is fully let to a line-up of 12 tenants, with major occupiers including Marks & Spencer, Next, Vodafone, The White Company, and Holland & Barrett. The vacant office element, which is located to the rear, provides various asset management options in the short-to-medium term, including new lettings or residential conversion. Hitchin is a market town with an affluent catchment, served by rail connections to both London and Cambridge. The acquisition comes as part of AEW UK’s ongoing redeployment of sale proceeds from the recent disposal of Central Six Retail Park in Coventry. In considering the re-deployment of the remaining proceeds from the sale, AEW UK said it has identified an attractive pipeline of investments available for purchase in the current market and is considering available growth opportunities. Laura Elkin, portfolio […]

More Latest Retail News

Hobbycraft owner explores restructuring seven months after acquisition

13th March 2025

The owner of Hobbycraft is exploring a potential restructuring process of the arts and crafts retailer, just seven months after its acquisition. Modella Capital – which is one of the remaining bidders for WHSmith’s high street estate – has drafted in advisers from FRP to examine its options, Sky News has reported. One such option is a company voluntary arrangement, which are often used to facilitate store closures and rent reductions from landlords. Hobbycraft trades from 124 stores in the UK. Sources close to the process told Sky News that FRP’s work was at a very early stage and that no decisions had been made about any restructuring processes. Modella acquired Hobbycraft from private equity firm Bridgepoint last summer after the retailer was put on sale in February 2024. The firm’s executives have also previously backed retailers including Paperchase and Tie Rack, and last month acquired The Original Factory Shop.

British Land and AustralianSuper bring pair of restaurants to Canada Water

13th March 2025

British Land and AustraliaSuper are set to bring the first restaurants to their 53-acre Canada Water development after securing a pair of F&B signings. Sushi Revolution and The Village Tree will be located on the ground floor of Three Deal Porters, a mixed-use building located opposite Canada Water tube station with collaborative workspace on the upper floors. Building on the success of its established restaurants in Brixton and Shoreditch, Sushi Revolution will be designed as a modern ‘izakaya’, an informal and affordable restaurant for dining-in and takeaway. The concept is spearheaded by Sticks’n’Sushi alumni and Canada Water local Aidan Bryan alongside Tom Blackshaw, who have nearly three decades of restaurant experience between them. The Village Tree will be the third offering from husband and wife team Matt Lloyd and Tze-May Ng, who run the successful restaurant and deli The Pear Tree in SE8, and The Barn at Surrey Docks City Farm. The all-day destination will serve salads, sandwiches, and savoury bakes, alongside a selection of baked goods. In the evening it will operate as a wine bar offering small plates. Alice Keown, leasing director of restaurants and leisure at British Land, said: “Sushi Revolution and The Village Tree are both...

Footwear brand to open flagship at Covent Garden’s James Street as Swatch upsizes.

13th March 2025

Shaftesbury Capital has announced a pair of signings at Covent Garden’s James Street, with footwear brand Saucony set to open a flagship store whilst Swiss watchmaker Swatch relocates into a larger unit. Located at 4 James Street, Saucony’s flagship UK store will span 3,695 sq ft and feature dedicated areas for events, product launches, and collaborations. The store will also include an interactive running machine experience, along with its range of footwear and apparel for men and women. Meanwhile, watchmaker Swatch will be relocating from its existing store on James Street into a larger unit. Located at 11 James Street, the 1,400 sq ft store is set to open in May, offering a range of over 500 different watches. These new signings look to complement other recently-opened stores on James Street including Charlotte Tilbury and Longines. Saucony will add to Covent Garden’s premium performance-wear offer, which includes the likes of Arc’teryx, Peak Performance, HOKA and Alo Yoga, whilst Swatch will add to the neighbourhood’s roster of watch brands, including Hublot, OMEGA and Tissot. William Oliver, director of retail and restaurant leasing at Shaftesbury Capital, said: “James Street really captures the heart of Covent Garden, serving as the key gateway to […]
Deals News

Poundland stores at risk after advisers appointed to handle sale

12th March 2025

A number of Poundland stores could close after the retailer’s parent group Pepco appointed advisers to oversee a sale of the discount chain. The retailer has reportedly hired advisory firm Teneo to handle the sales process, which could see some of its 825 stores shut for good. This comes after Pepco said last week that it was examining “all strategic options” for the chain, including a potential sale. Speaking to The Telegraph, a spokesperson for Pepco said: “As stated at our capital markets day on March 6, we are actively exploring separation options, including a potential sale, for the Poundland business. We have started to work with advisers to support us in this process.” Pepco had appointed consultants from AlixPartners in January as it looked to explore its options ahead of its capital markets day. Poundland recorded sales of roughly £1.69bn last year, however Pepco group – which has owned the retailer since 2016 – revealed at the beginning of 2025 that the retailer saw a decline in like-for-like sales of 7.3% during the Christmas trading period.
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