Search results for “klm real estate”

KLM Real Estate appoints pair of associate partners

3rd February 2025

KLM Real Estate has promoted James Williamson and Henry Gittins to the role of associate partner. Williamson joined KLM Real Estate in 2021 and works in the firm’s retail and leisure agency team. He acts for landlord clients including L&G, NFUM, Tideway, as well as occupiers such as Dave’s Hot Chicken, IWG, Auntie Anne’s, and Adventure Leisure. Gittins has been with KLM Real Estate since 2019 and provides retail agency and lease consultancy advice to the firm’s client roster which includes The Crown Estate. Most recently, he advised Starbucks on its expansion across London. James Andrews, partner at KLM Real Estate, said: “These promotions reflect the significant contribution that James and Henry have made to our business and the high standard of service they have given our clients. We look forward to guiding them in their continued career development.”

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Cornish Bakery appoints KLM Real Estate to deliver on UK-wide expansion

13th September 2022

Cornish Bakery, one of the fastest growing, independent bakery brands in the UK, has appointed KLM Real Estate to support its ambitious plans for expansion. Founded by Stephen Grocutt, starting with one location in Mevagissey, Cornwall, the company now trades from 56 locations across the whole of the UK. The main product categories are breakfast pastries, lunch range of pizzetta, focaccia and toasted sandwiches, Cornish Pasties, cakes and artisan coffee. The company is performing very well and sees an opportunity to grow its estate to 100 branches. Stephen Grocutt says: “Bakery is the new coffee shop. We are building one bakery at a time in character buildings in quality locations. Each bakery is designed differently which reflects our true independence and respects its location. Our purpose is to nourish people. We already have the highest net promoter score and employee net promoter scores in our industry additionally we empower all our bakery teams to support and nourish their own local charities and organisations. “We have a winning formula and look forward to working with KLM Real Estate to identify a raft of great new bakeries around the country.” Cornish Bakery is keen to gain a presence within UK market towns...

Deals

Multi Corporation makes UK return with Realm investment

10th April 2024

Pan-European retail management and development company Multi Corporation has returned to the UK after taking a majority stake in retail asset and property manager Realm. Multi Corporation had a significant presence within the UK between 2001 and 2021, having developed or managed major retail destinations such as the Southgate Centre in Bath, Victoria Square in Belfast, and Glasgow’s St Enoch Centre. The company has €5bn (£4.27bn) worth of assets under management across 15 countries, managing assets including retail parks, convenience stores, and high street retail. Multi Corporation also has experience in redeveloping and repositioning retail destinations, including the conversion of retail assets to residential uses. Founded in 2001, Realm has established itself as a leading operator of retail destinations and designer outlets. Its current portfolio includes a number of high profile venues including the London Designer Outlet in Wembley Park, Resorts World, Birmingham, Lakeside Village, Doncaster, Ringsted Outlet in Denmark, and the development of the Cotswolds Designer Outlet, which is set to open in Spring 2025. Realm’s client base has included LaSalle Investment Management, Blackstone, DTZ Investors, CBRE Global Investors, The Crown Estate, Nuveen Real Estate, ARES, Hermes Investment Management and Quintain. Following the acquisition, Multi’s UK operations will be...

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Multi-Realm appointed operating partner at Midlands retail and leisure destination

4th November 2024

Multi-Realm, which specialises in the management of retail and leisure destinations, has been awarded the operating mandate for the Trentham Estate in the West Midlands. The Trentham Estate – which is owned by funds managed by Blackstone – is a leisure and shopping destination set within a 725-acre site near Stoke-on-Trent. Features of the estate include gardens, an outdoor shopping village, restaurants and cafés, and a garden centre. Previously managed by St. Modwen, Multi-Realm will now manage the entire estate, operating all parts of the retail, leisure, and events businesses. The group will focus on providing property and asset management, leasing, development, and operating consultancy services. A key part of the estate is the 96,498 sq ft outdoor Shopping Village, which is home to 80 national, regional, and independent brands. In addition, there is a further retail anchor in the 64,749 sq ft Blue Diamond garden centre. Multi-Realm will work with the existing team at Trentham Estate to bolster the destination, applying its experience in leasing and asset management as it looks to further improve the overall visitor experience. Dan Mason, managing director of Multi-Realm, said: “We are delighted to be appointed on such a prestigious asset and very much look forward to...

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Realm achieves B Corp certification

6th December 2023

Outlet retail specialist Realm has announced that it is now a B Corporation (B Corp) certified company. The operator, asset manager, and advisor has met the standards of social and environmental by nonprofit organisation B Lab. The certification process requires applicants to demonstrate socially and environmentally responsible practices across its energy supply chain, waste and water use, worker compensation, diversity and corporate transparency. Realm joins a community of 7,000 B Corp-certified businesses, including Ellandi, Portman Estates, and TFT in the UK real estate community. Realm has previously been also received recognition for its environmental and community contributions with Green Apple, Flame of Hope, Park Mark Plus and Greener Business Award wins in addition as well as an ISO 14001 accreditation. Dan Mason, Realm managing director said: “We believe that the outlet retailing model is well suited to engaging in purposeful practices and responding to change – these come as part of our dynamic and agile management model. Whilst the discipline of reducing negative environmental impact has always been hard-wired into how we operate outlet schemes, the B Corp certification necessitates a different outlook, one with a clearer focus on finding better ways of doing business for planet, communities and people....

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Realty targeting further retail park acquisitions

21st August 2023

American real estate group Realty is in advanced discussions with Ediston Property Investment Company regarding a possible purchase of its property estate. Ediston confirmed it is in talks with RI UK 1 Limited, a subsidiary of Realty, over the sale of its retail park estate. The property company currently invests in 11 retail parks in Stirling, Haddington, Sunderland, Widnes, Barnsley, Prestatyn, Hull, Wrexham, Glasgow, Daventry, and Rhyl. Ediston says its portfolio has a value of £208.4m with a contracted rental income of £16.5m. However, Ediston said there can be “no certainty at this time” that a sale will take place, and that no final price or terms have been agreed. It was recently reported that Florida-based Realty is eyeing the purchase of Inverness Shopping Park, the Kingston Centre in Milton Keynes, and Serpentine Green in Peterborough from British Land. Also included in the deal is a portfolio of six data centres and offices based in London, which are currently leased to Vodafone. Realty entered the UK property market in 2019 when it entered into a joint partnership with British Land to take ownership of 12 Sainsbury’s supermarkets, in a deal worth £429m. It now has a British portfolio worth over £2bn, having invested in a number of supermarkets, DIY...

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Realty agrees £200m deal to acquire 11 UK retail parks

8th September 2023

American real estate group Realty is in has reached a deal with Ediston Property Investment Company to purchase its entire property estate for £200.8m. Ediston confirmed it had reached an agreement with RI UK 1 Limited, a subsidiary of Realty, over the sale of its 11 site-strong retail park estate. Eidston currently invest in retail parks in Stirling, Haddington, Sunderland, Widnes, Barnsley, Prestatyn, Hull, Wrexham, Glasgow, Daventry, and Rhyl. The group said its portfolio has a value of £208.4m with a contracted rental income of £16.5m. William Hill, chairman of Ediston, said: “The board was very pleased with the interest shown in the company, with proposals being received from a number of potential counterparties. Having considered multiple options, and after detailed analysis, the board determined a sale of the property portfolio to Realty Income was the best means of maximising shareholder value. “The board unanimously considers the disposal to be in the best interests of the company and its shareholders as a whole and recommends that shareholders vote in favour of the resolution at the general meeting.” The group’s general meeting will be held on 26 September. If the acquisition is accepted unconditionally, Ediston’s board will look to seek shareholder approval to voluntarily liquidate the...

Deals News

Vector Virtual Reality expands at Norwich’s Castle Quarter

25th October 2022

Castle Quarter, Norwich’s leading social, leisure and lifestyle destination, has further strengthened its experiential offer with the expansion of Vector Virtual Reality into a new, larger unit. The virtual reality experience operator has taken a new ten-year lease on a 4,223 sq ft unit, a significant increase on the 1,594 sq ft space it initially took at Castle Quarter in September 2021. The move also brings it closer to the destination’s other social and leisure operators. Vector’s virtual reality pods offer over 30 different experiences for individuals and groups of up to six people, with themes such as adventure games, puzzles, combat, artistic, storytelling and sport. Its expansion enhances what is already central Norwich’s leading social, leisure and lifestyle destination, with occupiers including Boom Battle Bar, Putt Putt Noodle, Escape Hunt, Si5 Spy Missions, Superbowl and Vue. Additionally, Castle Social, a new 20,000 sq ft ‘market hall’ style street food and entertainment concept, will further improve the offer when it opens this autumn. Mark Harvey, executive director and head of asset management at RivingtonHark, said: “Castle Quarter has become Norwich’s hub for social and ‘competitive leisure’ experiences, and this clustering effect is driving benefits and footfall for all the operators. “Vector...

Deals

Realm lets over 34,000 sq ft of outlet space

2nd August 2023

Outlet operator Realm has completed a flurry of lettings to a number of retailers, securing over 34,000 sq ft of space. At the London and Livingston Designer Outlets, Tommy Hilfiger, Guess, The North Face and Levi’s have signed a total of 17,247 sq ft for major upsizes. New arrivals at the schemes include Carvela, Lyle and Scott, Timberland, and Sole Trader. Meanwhile, footwear brand Skechers and Radley London have signed new leases at Lakeside Village in Doncaster. Realm said that many retailers are looking to capitalise on the ongoing strong performance at outlet centres, with fashion houses choosing to relocate or upsize allowing them to increase their offer and introduce new product lines. Brands are also choosing to invest in their stores to create a ‘flagship experience’, Realm said. As a result, retailers are opting to invest in visual merchandising, digital screens, and in-store technology. Christine Grace, leasing director at Realm, said: “We are clearly seeing both a desire for growth and consolidation behind these deals as brands have become increasingly at ease with the outlook for the outlet sector. Outlet shopping as a concept in the UK has been maturing; greater investment and sophistication in stock packages, promotion and general...

Deals News

Five key opinions from Completely Retail Marketplace

28th September 2023

Over 1,600 delegates and almost 500 retailers came through the doors at the largest Completely Retail Marketplace event ever on Tuesday. Completely Retail News sat down with some expert figures in the retail and leisure property market to get their views and forecasts. Here are some of the key takeaways: The industry just needs “to get on and do it” We don’t need more high street reviews such as 2011’s Portas Review and 2013’s (and latterly updated in 2018) Grimsey Review, instead the industry should focus on action, said Ruth Moorhouse, director at Ellandi. “We’re in a position now where we just need to get on and do it as a retail environment”, she said. “We just need to… put our foot down and get on with making some of this change and start making some smaller steps and try and move our high streets forward”, Moorhouse added. Her sentiments were echoed by Ibrahim Ibrahim, managing director of Portland Design: “[It’s] time to stop reviews, time to stop talking, and let’s put some great initiatives forward and use those as best practice and share them, really understand what the data is, how it happened, and show some really good benchmarks...

Insights News

Realty Income acquires £220m trio of retail parks from AshbyCapital

29th January 2025

American real estate investment trust Realty Income has acquired a portfolio of three UK retail parks from AshbyCapital for more than £220m. The portfolio – which was assembled through separate transactions between 2015 and 2019 – includes assets in Swansea, Leeds, and Glasgow. The largest of the retail parks is Morfa Shopping Park, located near to Swansea’s Liberty Stadium. The 345,000 sq ft scheme is occupied by retailers including Next, JD Sports, and B&Q. Also included in the portfolio is Westside Retail Park in Guiseley, north west of Leeds. The 120,000 sq ft scheme is home to the likes of Currys, Sports Direct, Next, and Tk Maxx. The third and final asset included in the acquisition is Abbotsinch Retail Park in Paisley, near Glasgow. Spanning 265,000 sq ft, the scheme is anchored by B&Q, Dunelm, and DFS. The acquisition follows a £82.5m refinancing of the retail parks, put in place by German Bank Deutsche Hypo in summer 2024. Since acquiring the parks, AshbyCapital has worked with asset manager Quadrant to improve the customer offer, with upgrades including landscaping, public realm projects, and EV charging. Tom Smithers, property director at AshbyCapital, said: “We invested in these parks at a time when...

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Q&A: Chris Harris on launching asset management firm Vedra

24th November 2023

Launching your own company is no mean feat. For Chris Harris, the process has been “crazy in a good way”. The former John Lewis property director has set up asset management firm Vedra Real Estate Assets, and plans to bring his unique experience to shopping centres and retail parks. He began his career at Chesterton International as a retail property agent before moving client-side to work at Blockbuster, Arcadia Group, and most recently, the John Lewis Partnership. His experience is not solely within the property sector, having spent time as operations director for Blockbuster and working in procurement during his time at both Arcadia and John Lewis. During his six year tenure at John Lewis, Harris worked on the ambitious build-to-rent (BTR) partnership with Abrdn, which looks to deliver 10,000 homes over the next decade. Completely Retail News sat down with Harris to learn all about his new venture: Tell us about Vedra Real Estate Assets – what strategies or approaches have you implemented to differentiate it from competitors? “What is unique from our perspective is the retailer background. I, and others but I can’t say who yet, will come with significant retail experience, as well as real estate experience....

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How dreams can become reality

17th February 2023

Rob Barnes of Bruce Gillingham Pollard looks at how to assess approaches from people who want to turn a new retailing or hospitality concept into a physical trading space. Immediately after every summer or Christmas holiday period agents get a steady flow of calls from people who, whilst away from work, have had ideas about a new retail or hospitality concept, whose success could liberate them from their day job. It can be easy to be cynical, but there can be some great ideas which will eventually translate into a successful independent business. To sift the fanciful from the thought-out, we first look for a well-considered business plan. No matter how original an idea is, it must be backed up by financial projections and an achievable timeline. Most landlords are keen to nurture new independent occupiers if they can demonstrate that they have thought through their idea and even market-tested it. If a landlord is going to provide a rent-free period, they want to see that the business is going to be able to pay the rent when the time comes. This needs to be covered in a business plan, detailing the businesses revenue forecasts throughout the lease term, its...

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Regeneration group to anchor Nuneaton town centre development

26th September 2023

Nuneaton and Bedworth Council, alongside strategic partner Queensberry, has appointed regeneration specialists Really Local Group to anchor its mixed-use town centre development Grayson Place. The group – which is behind the Catford Mews, Ealing Project, Peckham Levels, Reading Biscuit Factory, and Sidcup Storyteller developments – will open a 14,000 sq ft leisure and culture space at the Nuneaton scheme. The space is set to feature a five-screen cinema, a live performance area, a café, a bar, and community hub. It will be Really Local Group first major project outside London and the South East. In total, Grayson Place will comprise 29,000 sq ft of leisure space as well as a 10,000 sq ft food hall and 8,000 sq ft of other retail and food and beverage spaces. New public realm will also be created, designed for markets, pop-ups, and cultural uses. Preston Benson, founder of Really Local Group, said: “It is our mission to create cultural and community venues that reflect the heart of local high streets, with and for the local community. Nuneaton is brimming with character, and our ethos aligns closely with the council’s transformation vision for the town centre, one that will bring a diverse programme of...

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Watch: Leisure sector is “on the crest of a wave”

2nd October 2023

The leisure industry is currently on “the crest of a wave”, said Neil Hockin, managing director of Lunson Mitchenall. Speaking at September’s Completely Retail Marketplace event, he said that at the moment leisure feels “quite resilient”, but the proof is yet to be seen that these companies can survive when rent-free periods end: “So I think there’s sometime to go in that sector. And there will be a consolidation because there’s been a massive explosion and one, invariably, follows the other.” He was joined by Alice Keown, leasing director for hospitality and leisure at British Land, to discuss the rise of experiential retail and the incorporation of leisure activities in shopping spaces with Completely Retail News executive editor Lisa Pilkington. “There are sectors that seem to be more resilient, so QSR (quick-service restaurants) always does well in a recession or a downturn”, said Keown. She added: “All of the usual QSR’s like Maccie D’s (McDonald’s) and Burger King will be here to stay, but I’m loving the new generation coming through. We heard that Popeyes think they’ll get a tenfold growth over the next ten years, and given the sales they’re doing in [British Land’s] assets I believe that’s possible.”...

Insights News

How Centre:mk worked with a charitable tenant to make an impact in the community

22nd August 2024

Whilst charitable causes and non-profits are often found in retail centres across the country, it’s rare that they ever take centre stage. However at Centre:mk in Milton Keynes, a new initiative saw the scheme dedicate mall space, time, and personnel to a local charity focused on raising awareness and donations for those trying to get back into work. At the end of June, the shopping centre held a three-day event in partnership with local charity partner Works For Us (part of Citizens Advice), which aims to help disadvantaged people get back to work with employment assistance and digital training. The charity’s headquarters – which is based within the shopping centre’s management suite – promotes social inclusion by helping people to make informed choices about employment and training needs, providing them with a pathway to paid or better paid work. Works For Us enables people to access vocational guidance, training, and volunteering, helping them raise their skill levels, qualifications, motivation, and confidence to help them to compete more effectively in the labour market. Running from 28-30 June, the ‘Retire Your Attire’ event saw local residents and workers donate over 400 items of clothing to help those in need. Kelly Murdoch, team manager at...

Insights News

The Portman Estate signs five new brands to West End portfolio

25th April 2024

The Portman Estate has announced that five new brands are set to open within its Marylebone portfolio, including Moco Museum’s first location in the UK. Moco Museum will be joined by Maculara, Zula Burger, WatchHouse Coffee, and Mandy Zhang Art. Opening this summer, Moco Museum will open its third largest location in Europe at The Portman Estate’s flagship One Marble Arch development. Taking 25,000 sq ft of space across three floors, the art museum will look to create a new major cultural destination for London. Meanwhile, independent eyecare specialist Maculara will open a debut store at Regent House, Edgware Road in the summer. Offering a range of premium eyewear and eyecare, the new store will sit adjacent to Townhouse Marble Arch and will look to bolster Edgware Road’s retail and amenity offering. Also opening within The Portman Estate’s portfolio is WatchHouse, which will open its 20th coffee house at 60 Seymour Street this summer. Taking 800 sq ft, the independent coffee house aims to champion sustainability and make use of ethical supply chains. Joining the estate’s food and beverage offering is international restaurant brand Zula Burger, which will make its UK debut at 5 Old Quebec Street. Opening this summer,...

Deals News

Kim Kardashian’s shapewear brand to make UK debut on Regent Street

12th May 2025

SKIMS, the underwear, loungewear, and shapewear brand founded by Kim Kardashian and entrepreneur Jens Grende, is set to make its UK debut on London’s Regent Street. The brand has signed a 10-year lease with The Crown Estate for a 12,000 sq ft unit at 245-247 Regent Street, with the store due to open in summer 2026. SKIMS will join a number of other global fashion retailers and luxury brands on Regent Street, adding to the destination’s mix of retail, entertainment, dining, and lifestyle brands. The Crown Estate said the signing also reflects its long-term ambitions to carefully curate diverse retail and leisure offerings in the West End. Laura Thursfield, retail leasing director at The Crown Estate, said: “Welcoming SKIMS in its first foray into the UK bricks-and-mortar market is an exciting moment for The Crown Estate. Emphasising Regent Street’s position as London’s premier lifestyle destination, the arrival of SKIMS highlights the area’s sustained attractiveness for global brands. “This opening will enhance the diversity of The Crown Estate’s wider retail and leisure offering, boosting both footfall and commercial activity in the West End by driving different audiences towards the world-class destination that is Regent Street.” Robert Norton, chief commercial officer of SKIMS,...

Deals News

Cotswolds Designer Outlet: Q&A with the firm leading the development

27th October 2023

Work on the first phase of the 185,000 sq ft Cotswolds Designer Outlet destination, located at Tewkesbury Junction 9 of the M5, is due to start in the autumn. The development will offer retail and dining space for 56 new brands, with outlet retail specialist Realm leasing the scheme. Simon Tothill, property and development director at Robert Hitchins – which is delivering the project – shares an update on its progress with Completely Retail News: How is the development of Cotswolds Designer Outlet progressing? “We have now appointed Bouygues UK as main contractor to deliver the first phase of Cotswolds Designer Outlet, comprising 136,000sq ft of retail and F&B space for 56 new brands. Construction will commence on-site in November, with an anticipated launch in Spring 2025. “When fully complete, the new outlet centre will offer 90+ retail brands over 185,000 sq ft of outlet space. The designer outlet is the final piece of our long-term aspirations for this 300acre mixed-use development site located immediately adjacent to Junction 9 of the M5 Motorway. We are creating new retail, F&B, garden centre, community play areas and new homes, and significantly contributing to the continued economic growth of this area. “Some of...

Insights News

Cotswolds Designer Outlet: Q&A with the team behind the development – plus the latest pictures

16th July 2024

Construction 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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