Search results for “realm”

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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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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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 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...

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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...

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Cotswolds Designer Outlet 98% pre-let with raft of new signings

14th April 2025

Cotswolds Designer Outlet is now nearly fully pre-let following a raft of new signings. The scheme now has over 133,600 sq ft of space either exchanged or in solicitors’ hands, which will bring it to 98% let when it opens this summer. The new lettings are led by BOSS, which has taken a 4,126 sq ft unit and is joined by Marks & Spencer, Adidas, and Levi’s, which have secured stores spanning 7,845 sq ft, 8,474 sq ft, and 4,455 sq ft respectively. Developer and investor Robert Hitchins, along with specialist manager of retail and leisure destinations Multi-Realm, have been responsible for delivering the line-up of Phase 1. Located just off Junction 9 of the M5 near Tewkesbury and equidistant from Bristol and Birmingham, Cotswolds Designer Outlet is part of a long-term vision to delver an injection of investment to the area, with approximately 260,000 sq ft of retail, F&B, and leisure space being delivered through Cotswolds Designer Outlet and the Dobbies Garden Centre. To date, 110,000 sq ft of Phase 1 has been committed to by 44 brands with more set to be announced soon. In addition to BOSS, M&S, Adidas, and Levi’s, the national and international brands currently fitting...

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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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Rotherham set for £50m of retail and leisure funding

28th July 2023

The Borough of Rotherham could receive £50m of investment into a number of retail and leisure developments, with local councillors set to give the proposals the go-ahead. Members of Rotherham Council will meet on 7 August to discuss the potential investments. If approved, nearly £11m will be committed to the development of Dinnington Town Centre. This would include improvements to the outdoor market and the creation of a commercial square. It is hope this would boost the town’s retail and food and beverage offering while improving the public realm. A further £5.5m is set to be provided to fund the creation of a waterfront café in Rother Valley. The site would see improvements to the parking facilities, a relocated cycle hub, an events space, and a landscaping scheme. Proposals also outline the creation of a £2.5m scheme at Thrybergh Country Park, which would see the development of a waterside café, improved public realm, and visitor facilities. Both the park projects are part of a wider £20m investment in leisure economy and skills in Rotherham. Other attractions receiving improvements include Gullivers, Wentworth Woodhouse, Magna and Maltby Skills Academy. Cabinet members will also be asked to approve a contract tender and enabling...

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Green light for further phases at Cardiff’s £100m Howells regeneration

6th February 2024

Planning consent for further phases of the £100m redevelopment of Cardiff’s landmark Howells building into a mixed-use destination has been green lit by councillors. Property developer Thackeray Group has been granted permission by Cardiff Council for phases two and three of the development, which include the creation of 61 apartments, the restoration of Bethany Chapel and Sunday School, additional storeys to the Percy Thomas Wharton Street block, and the partial demolition of the centre of the site to create new public realm, linking through to Cardiff Market. Phase one, which already has consent, relates to the former Percy Thomas building at the corner of St Mary Street and Wharton Street. It is set to provide 25,000 sq ft of commercial space which will likely to be let to an office or retail occupier. Thackeray Group is aiming to submit a planning application in the third quarter of this year to create a build-to-rent development above The Hayes and Trinity Street buildings to the east of the site. A further planning application is expected to be submitted in the fourth quarter for a 120-bed hotel and a food and beverage offering on the ground floor at The Walter building fronting St...

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The Pros and pros of turnover leases – it’s time to change the way we lease

16th June 2021

What could be fairer or more equitable than an arrangement that allows a retailer to pay as they grow – literally as their turnover increases so too does their rent which is set at an agreed percentage– a win:win situation. This article covers the benefits around why, for retail property, we need to Change The Way We Lease

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Berkshire brewery to open taproom at Reading’s Station Hill

27th February 2024

Berkshire-based brewery Siren Craft Brew is set to become the first occupier at the Station Hill mixed-use development in Reading. Signing a 15-year lease for a 3,800 sq ft unit, the brewery will open its first-ever taproom and restaurant on Friar’s Walk. Siren will bring a range of ales, porters, and lagers to the centre of Reading, serving the residential, business, and mixed-use communities at Station Hill. The opening of the taproom in May will coincide with the completion of the final phase of Ebb & Flow, the first build-to-rent residential element of Station Hill, providing almost 600 homes. The £850m Station Hill development is being brought forward by Lincoln MGT, a joint venture between Lincoln Property Company and MGT Investment Management. Once complete, it will comprise up to 625,000 sq ft of office space, 1,300 private homes, 600 build-to-rent properties, 100,000 sq ft of retail and leisure space with the potential for a 200-bed hotel, later living accommodation, and two acres of new public realm. The Station Hill team is now looking for more retail and F&B operators to take space at the development, as is in talks with a number of potential operators. Alex Aitchison, UK managing director...

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Metrocentre to make £6m Green Mall investment

19th August 2024

Metrocentre in Gateshead is set to undergo a £6m redevelopment that would see a transformation of its Green Mall entrance. The Metrocentre Partnership has submitted a planning application that outlines the creation of new units, enhancements to public realm, and the revitalisation of one of the centre’s main gateways. Designed by Leslie Jones Architecture, the proposals include the addition of a number of sustainable elements to the Green Mall entrance, such as enhanced biodiversity and landscaping. Also included in the proposals is the creation of over 18,000 sq ft of south-facing food and beverage space across three new units, adjacent to Marks & Spencer. The public realm improvements will look to deliver a more appealing and accessible entrance for visitors, as well as the opportunity to spend time outside during good weather. Ben Cox, director at Sovereign Centros from CBRE, asset managers of Metrocentre, said: “Redefining the entrance to Green Mall is a natural next step in Metrocentre’s evolution following major investment across other malls over the last four years. This project would enhance Metrocentre’s day-to-night economy with a new take on our F&B offering, and create a much-improved sense of arrival at Green Mall. We are in early discussions...

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Final King’s Cross masterplan building approved

19th July 2023

Proposals for the redevelopment of a building in London’s King’s Cross to create a mixed-use property have been given the go-ahead by the London Borough of Camden. Property developer Related Argent’s proposals for Building F1 will see the creation of over 54,000 sq ft of commercial space, as well as flexible retail units and public realm space. This marks a step towards the completion of the Kings Cross masterplan, with the outline planning permission for the project having been granted 17 years ago. The current site has been let to a number of occupiers over the years, including Shrimpy’s restaurant, the Gasholders London sales and marketing suite, a Chapel Down bar and restaurant, and most recently, Gas Station by Barworks. F1 is set to be the 50th building delivered on the King’s Cross estate. Related Argent has said it estimates that 42,000 people will be living, working, and studying at King’s Cross. The area is home to some global giants including Meta, AstraZeneca, Google, and Nike. Around 100 shops, bars, and restaurants, as well as 1,750 homes and 10 public spaces are found at the estate. Designed by Lee Wilson Architecture, the building sits at the intersection between York Way...

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Cotswolds Designer Outlet construction commences

26th October 2023

Property developer Robert Hitchins has selected Bouygues UK as the primary contractor for the initial phase of Cotswolds Designer Outlet in Tewkesbury. The development will offer 136,000 sq ft of retail and dining space for 56 new brands and is situated at the gateway to the Cotswolds. Construction is scheduled to commence in November 2023, with the grand opening set for spring 2025. The outlet will be delivered in two phases, and when fully complete, will create a 185,000 sq ft outlet destination with over 90 high-quality fashion, lifestyle and F&B brands. Outlet retail specialist Realm is leasing the scheme and will be the asset and property managers upon completion. Dan Mason, Managing Director of Realm said: “From the earliest stages of this project, there has been a strong focus on balancing a premium feel for the guest experience with flexibility for brands to optimise their position and offer.” “Outlet shopping continues to attract shoppers and tourists looking for a unique ‘full day out’, where they can combine quality and value, with an enhanced customer experience and the excitement of discovering unexpected treasures. That’s the enduring appeal of the outlet experience, and why retailers continue to incorporate outlet into their...

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Two dining brands sign for The Royal Exchange

17th April 2024

The City of London’s The Royal Exchange has announced the signing of two new dining brands, as Empanada specialist Chango and The Salad Kitchen both sign 10-year leases for units on Threadneedle Street. The new arrivals highlight increased demand for restaurant space at The Royal Exchange as the scheme benefits from higher footfall as well as new public realm around the building. The City of London Corporation’s “All Change At Bank” project is creating new public space, including al fresco dining, along Threadneedle Street outside The Royal Exchange. Chango and The Salad Kitchen will join existing operators at The Royal Exchange including The Libertine and Fortnum & Mason, as well as Des Gunewardena’s upcoming venture in the scheme’s mezzanine area later this year. The new lettings follow long-term commitments from luxury retail brands including Tiffany & Co., Bremont, Aspinal of London, Omega, Montblanc and Hermès. Andrew Hilston, managing director of The Ardent Companies UK, said: “The public realm upgrades on Threadneedle Street are changing the face of The Royal Exchange’s external space, enabling outside dining and further enhancing what is rapidly becoming one of the City’s leading social destinations. The arrival of Chango and The Salad Kitchen, alongside our existing...

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Wembley Park: A “destination in its own right”?

18th January 2024

Matt Slade says Wembley Park is a “one of the most exciting neighbourhoods in London” – Photo: Chris Winter When developer Quintain purchased the land surrounding Wembley Arena in 2002, it set out a clear and ambitious objective: create a thriving neighbourhood all year round, not just during big events. 22 years later, Quintain’s retail director at Wembley Park, Matt Slade, tells Completely Retail News that the neighbourhood has now become a “destination in its own right”. “We believe it’s one of the most exciting neighbourhoods in London“, he adds. So what makes a destination? For Wembley Park, it must pull in visitors on its own merit, and not just function as an extension of the stadium and arena. Currently, the mixed-use neighbourhood comprises hundreds of build-to-rent properties, retail and leisure space, and public realm works. So how does this retail and leisure offer at Wembley Park help make it a destination? For starters, Slade says that outlet shopping centre London Designer Outlet (LDO) – which opened its doors in 2013 – has now become the main attraction for many people visiting Wembley: “Just before the pandemic, the dial tipped in favour of more people visiting Wembley to go shopping...

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Outlet retailing remains “robust and compelling” heading into 2024

22nd December 2023

Outlet retailing has proven itself to be a “robust and compelling investment choice” in 2023, the managing director of retail outlet specialist Realm has said. Dan Mason said the turnover lease model often employed in outlet centres allows owners and operators to “adapt swiftly to evolving consumer preferences and harness the best of innovative operational practices”. He continued: “This was a year that saw many brands fine-tune their offer, right-size their spaces and enhance their customer experience, as outlets have proven their value in the omnichannel retail strategy. As we move into 2024, we expect brands to continue to evolve the “flagship outlet experience” – elevating their visual merchandising and in-store aesthetics and creatively working with concessions and pop ups – to meet rising consumer expectations. “In 2024, as consumer confidence grows steadily, we’re optimistic about the enduring attraction of outlets that offer quality and value while engaging and surprising shoppers with the ‘full price’ experience that so many brands are successfully re-creating in their outlet stores. This balance of flexibility and an elevated experience will influence new outlet schemes, as well as redevelopment and asset management activity both in the UK and Europe over the coming year.” These sentiments...

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Cotswolds Designer Outlet adds two fashion brands to line-up

28th April 2025

Cotswolds Designer Outlet has signed two fashion brands to its retail line-up ahead of the centre’s opening this summer. The outlet shopping centre has now agreed deals with Calvin Klein and Tommy Hilfiger, as retailers and operators commence on the shop-fitting phase of the development. The two new signings bring Phase 1 of the development to 87% exchanged on 119,150 sq ft. Located just off Junction 9 of the M5 near Tewkesbury, Cotswolds Designer Outlet is being brought forward by developer and investor Robert Hitchins alongside Multi-Realm, the specialist manager of retail and leisure destinations. Earlier this month, fashion label BOSS was announced to be joining the scheme, opening alongside retailers including Marks & Spencer, Adidas, Levi’s GUESS, Radley, Sweaty Betty, and Under Armour, as well as dining brands such as Wagamama, Zizzi, Five Guys, Pret a Manger, Caffe Nero, 200 Degrees, and Knead Bakery. Simon Tothill, property and development director at Robert Hitchins, said: “Calvin Klein and Tommy Hilfiger are an incredible addition to the line-up, and with more names to be shared soon, there is a hugely compelling story for the many retail brands who are already expressing interest in Phase 2. This project has been many years in...

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Muse named partner for £500m Wythenshawe mixed-use regeneration

13th August 2024

Muse has been named as the delivery and investment partner for a £500m mixed-use redevelopment of Wythenshawe Civic, south Manchester. In October 2023, Manchester City Council began the process to find a private sector partner that could invest and develop the site to meet regeneration targets set out in the town centre. The regeneration is set to create new shops, net-zero carbon commercial space, a new public square, community and cultural space, and over 1,750 new homes over the next 10 years. The joint venture partnership has also set a target to deliver the UK’s first Positive Energy District (PED) in Wythenshawe. This will be targeted through the creation of highly energy efficient buildings, native trees, urban allotments, and roof gardens. The total investment is expected to cost in excess of £500m, with initial development work set to start as early as 2025. The investment was kickstarted with a £20m grant through the Levelling Up programme to Manchester City Council, which itself has contributed an additional £11.9m to deliver a cultural and creative hub, food hall, co-working and employment space, and an initial investment in new public realm. Councillor Bev Craig, leader of Manchester City Council, said: “This is a...

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Great Portland Estates secured £7m worth of retail deals last year

12th April 2024

Great Portland Estates (GPE) completed on 26 new retail leases in the last financial year, securing £7m worth of rent. The property development and investment company said these lettings were 4.7% ahead of the March 2023 estimated rental value (ERV). This included a new flagship store for Tk Maxx, which has agreed to take 22,500 sq ft at Mount Royal, Oxford Street. In addition, health and beauty retailer Superdrug re-geared the lease for its 8,000 sq ft store at the development, committing for another 10 years. GPE said it has a further 20,000 sq ft of prime retail space under offer at the western side of Mount Royal, with further deals expected later in the year. During the year ending 31 March 2024, GPE completed on a total of 66 leases across all divisions including flexible property, generating a total of £22.5m worth of rent. The total space covered by new lettings, reviews and renewals was 401,500 sq ft. GPE said a further £5.3m worth of rent was under offer, with market lettings 20.3% ahead of the March 2023 ERV. During the current quarter, GPE has committed to two new developments, including a 143,100 sq ft Grade A office development...

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