Retail Property Deals

Footasylum to open at Aberdeen’s Union Square

21st June 2024

Footasylum has agreed a deal to open at the Union Square shopping centre in Aberdeen, taking residency in the former USC store. The sports fashion retailer will take 7,000 sq ft on the ground floor of the scheme, adjacent to Superdry and Superdrug. Featuring brands such as Nike, Adidas, and Under Armour, the store will offer a range of menswear, womenswear, and kidswear. The new Aberdeen signing is the latest in a flurry of leasing activity for the brand, which opened a 20,000 sq ft Oxford Street flagship store last year, which was followed by upsizings at Birmingham’s Bullring and the White Rose in Leeds. The retailer also opened a 13,000 sq ft store at Metrocentre in Gateshead earlier this month. David Pujolar, CEO of Footasylum, said: “Union Square shopping centre is the city’s largest retail and leisure destination, and I have no doubt it is the right location for our first-ever Aberdeen store. “Our aim is for our unique and extensive branded streetwear offering to be widely available across the UK, and stores such as this one will be vital to achieving our ambitions. The new Aberdeen store will offer visitors an incredible shopping experience and help to take […]

Popeyes set to open 50th UK restaurant

21st June 2024

Popeyes is set to open its 50th restaurant in the UK in Glasgow, with the fried chicken quick-service restaurant chain on course to double the size of its UK estate this year. Since entering the UK in 2021, the American brand has opened 49 sites, including seven drive-through restaurants and 13 delivery kitchens. Throughout the remainder of the year, Popeyes is set to debut in locations such as Watford, Wimbledon, Nottingham, and Belfast. The chain will also open a second location in Aberdeen. Tom Crowley, chief executive at Popeyes UK, said: “In just 30 months, our remarkable Popeyes UK team has secured a pipeline of 50 top-tier new sites, including our first ever Northern Irish location which opens in Belfast very soon. “Currently, Popeyes UK is the fastest-growing chicken QSR brand in the UK, with a 125% year-on-year growth from May 2023 to May 2024. “We remain committed to our expansion plans and look forward to achieving new milestones in the upcoming years.”

Peak Performance picks Covent Garden for UK debut

21st June 2024

Scandinavian outdoor brand Peak Performance is set to open its first-ever UK store at Shaftesbury Capital’s Covent Garden. Spanning 1,700 sq ft, the new store at 49 Long Acre will offer a range of products for activities such as skiing, hiking, mountain biking, trail running, and urban exploration. In line with the sustainability-focused ethos of the brand’s parent company, Amer Sports, the store will offer a trade-in system. This will allow customers to exchange their Peak Performance products for vouchers. The store will also offer services such as care and repair of garments as well as professional washing, as the brand looks to commit to the longevity and upcycling of its products. Peak Performance’s UK debut will join Covent Garden’s line-up of flagship stores from other high-performance brands, including the UK debut from footwear brand HOKA, the upsized anchor store for outdoor retailer Finisterre, and the flagship store for Peak Performance’s sister-brand Arc’teryx. The neighbourhood is also home to other performance-wear brands such as Peloton, Lululemon, and an upcoming flagship store for Swedish footwear brand Axel Arigato. Michelle McGrath, executive director of Shaftesbury Capital, said: “Peak Performance’s distinct Scandinavian heritage combined with its strong sustainability-focused ethos contributes to its reputation […]

Alley Cats pizzeria takes a slice of Chelsea’s King’s Road for second location

21st June 2024

New York-style pizzeria Alley Cats is set to open its second location at Chelsea’s King’s Road, part of the Sloane Stanley Estate. Set to open in August, the 1,277 sq ft pizzeria will look to build on the operator’s success at its first location in Marylebone, which opened in December 2023. Led by head chef Francesco Macri, the restaurant will offer a range of 14-inch pizzas, featuring ingredients such as San Marzano tomatoes, buffalo mozzarella from Campania, and aged mozzarella from Molise. Also on offer will be a range of cocktails, wines, beers, as well as a selection of desserts. Alley Cats will join a number of food and beverage operators across the Sloane Stanley Estate, such as the recently opened Josephine by Claude Bosi and the upcoming debut site for pasta concept Dez Amore, both on Fulham Road. The operator will also be joined on King’s Road by the upcoming arrival of Fantomas, headed up by chef Chris Denney. Hannah Grievson, property director at Sloane Stanley, said: “Alley Cats will be a fantastic addition to the Sloane Stanley Estate, and highlights our commitment to bringing more F&B choices to the area. We consistently champion the very best of independent […]

Sterling snaps up Birmingham development and Nottingham scheme in £236m haul

20th June 2024

A mixed-use canalside development in Birmingham and a hotel-led scheme in Nottingham have been acquired by Sterling Property Ventures in a £236m deal. Water’s Edge at Brindleyplace, Birmingham and Chapel Bar in Nottingham have been purchased as part of a larger portfolio from British Airways Pension Trustees. Water’s Edge is a 62,000 sq ft canalside restaurant and bar development, comprising 12 units fully let to operators including All Bar One, Wagamama, Cosy Club, and Slug and Lettuce. The scheme had been under the ownership of British Airways since its completion in 1994. James Howarth, Sterling’s managing director, said: “Sterling now has three significant assets in Birmingham. The Water’s Edge enjoys a prominent location at Brindleyplace, opposite the International Convention Centre and close to the National Sea Life Centre and Utilita Arena.  It is one of the best performing regional restaurant/bar schemes in the UK.” Chapel Bar in Nottingham sits near the city’s Old Market Square, and includes a 120-bed Premier Inn hotel, five retail and leisure units, and office space. The larger portfolio acquired by Sterling includes the 449,079 sq ft Hempstead Valley retail and leisure scheme in Gillingham, and three retail warehouses totalling 74,060 sq ft in Longwell Green, Bristol. The […]

French Connection opens at Somerset’s Clarks Village

20th June 2024

French Connection has opened a new store at Clarks Village outlet centre in Somerset. The fashion retailer’s launch is one of eight openings and refits at the shopping destination so far this year. Spanning 860 sq ft, the store will be located within the scheme’s Apple Court mall. Chris Davis, centre director at Clarks Village, said: “French Connection is a well-known global brand that enhances our fashion collection here at Clarks Village and its modern, sleek store is a welcome addition to the outlet.” French Connection joins the newly-opened Rituals, MOSS, Lindt, Samsonite, and Murmur stores, alongside a refitted Cadbury store. A restaurant for Slim Chickens is also opening on Friday whilst Wagamama is set to launch at the centre in July.

UK’s ‘first robotics-powered restaurant chain’ signs for The Brunswick Centre, Bloomsbury

20th June 2024

The UK’s “first robotics-powered restaurant chain” has signed for The Brunswick Centre in Bloomsbury, London. KAIKAKU, which is derived from the Japanese for ‘radical change’, has agreed to take a 2,791 sq ft unit on a 10-year lease, trading as Common Room. As well as a restaurant, the unit functions as a robotics lab, office, and central production kitchen. KAIKAKU was founded in 2023 by a team bringing together experience within robotics and hospitality. The company aims to use automation, robotics, 3D printed components, AI technologies, and wider operational economics to transform the customer experience within the quick-service restaurant sector. The opening at The Brunswick Centre marks a milestone in the operator’s expansion plans, with KAIKAKU looking to open up to 10 more sites in London in 2024. Savills acted for the landlord Lazari, and is also working with KAIKAKU to find more suitable locations. Olly Eades, associate in the National Retail Team at Savills, said: “Leading restaurant chains worldwide are embracing technology to streamline their operations and elevate customer experiences, and KAIKAKU is one of the most exciting companies implementing robotics in a hospitality first approach. We are delighted to have secured them as a tenant for the Brunswick Centre in […]

Bonmarché set to join Antrim’s The Junction

19th June 2024

Women’s clothing brand Bonmarché is set to open at The Junction Retail and Leisure Park in Antrim, Northern Ireland. Spanning 2,396 sq ft, the store will become Bonmarché’s 11th in Northern Ireland. Bonmarché’s arrival will bring The Junction to 84% occupancy, with the retailer joining fellow clothing brands such as Menarys, Animal, and Mountain Warehouse. Established in 1982, Bonmarché has the ambition of being a multi-channel retailer for women seeking appropriately-styled and quality products at low prices. The brand is currently opening new stores and outlets across the UK, including its store-in-store debut with the Co-op. The Junction, which was acquired by Lotus Property in 2018, celebrates its 20th anniversary this year. Lotus is advised by joint agents Savills and Lambert Smith Hampton. Paul McCann, asset manager at Lotus Property, said: “There is a demand for clothing retailers in Antrim, and they consistently perform well at the scheme. It’s something our shoppers want and the arrival of Bonmarché will further strengthen our offering. It is an exciting time for the scheme – we have reached 84% occupancy across The Junction’s 300,000 sq ft of retail space, with more new tenants on their way later this year.  We are very much looking […]

Metrocentre sweetens line-up with Mango signing

19th June 2024

Mango is set to join Metrocentre in Gateshead later this summer, opening its largest store in the region to date. The Mediterranean-inspired fashion retailer’s 6,233 sq ft store will be located on the scheme’s Lower Red Mall, offering both womenswear and menswear. The retailer will sit adjacent to Jo Malone and in close proximity to other fashion brands such as Zara, H&M, and Flannels. Ben Cox, director at scheme asset manager Sovereign Centros from CBRE, said: “Introducing Mango to Metrocentre brings an added dimension to an already compelling fashion offer. Mango will be a highly complementary addition to our Red Mall line up, which has seen significant investment and an abundance of new commitments over the last twelve months. We prove time and time again that we really are the go-to destination for retail, and we look forward to seeing Mango thrive here at Metrocentre.” The announcement follows the recent news that Footasylum has opened a new upsized store at Metrocentre, taking a 12,375 sq ft unit in the Red Mall. In addition, Metrocentre has seen a flurry of new investment and the re-anchoring of the Red Mall, with the relocations and upsizes of Sports Direct, Flannels, and Zara creating […]

Columbia Threadneedle checks out sale of 10-strong high street portfolio

18th June 2024

Columbia Threadneedle Investments has completed the sale of the final property in the ‘Blue Portfolio’, which comprised 10 high street assets across 9 locations in the UK. Assets located in Guildford, Worthing, and Southend-on-Sea were all sold to privately-owned property investment company Moreton Investments. Further properties in locations including Glasgow’s Sauchiehill Street, Aberdeen, Lancaster, Canterbury, and Chelmsford, have been sold to private investors at auctions held by Allsop. FMX Urban Property Advisers acted for Columbia Threadneedle Investments.

Landsec secures 28,000 sq ft of Inditex deals across two destinations

18th June 2024

Landsec has signed three deals with Inditex across two of its destinations, which will see the fashion retail group take 28,000 sq ft of space in total. At St David’s in Cardiff, Pull&Bear is set to make its Welsh debut, after agreeing to take 8,500 sq ft across two floors. The signing means that St David’s will be home to all five of Inditex’s brands, bringing the group’s total footprint at the scheme to over 60,000 sq ft. Inditex will also open Pull&Bear and Bershka stores at Bluewater in Kent, with both retailers taking 10,000 sq ft each. At both schemes, the new stores will bring together Bershka’s three lines – Bershka, BSK, and Man – as well as Pull&Bear’s full collection of menswear and womenswear.   As previously announced by Landsec, Inditex will also open a 46,000 sq ft flagship Zara store at Trinity Leeds later this summer, with the fashion retailer upsizing and relocating from its existing store in the city. Pablo Sueiras, head of brand account management at Landsec, said: “We enable brands to grow their reach with their target customers by partnering with them across our UK-wide portfolio of prime retail destinations. Our strong fashion performance […]

Swarovski to open at GPE’s Kingsland House

17th June 2024

Crystal jewellery brand Swarovski is set to open at Great Portland Estate’s Kingsland House on Regent Street next year. The new store, taken on a 10-year lease, will comprise 1,500 sq ft across three floors and will open ahead of the brand celebrating its 130th anniversary next year. Kingsland House is a Grade II listed building positioned on the east side of Regent Street, within the heart of the West End’s shopping district. The building – which sits at the junction between Mayfair and Soho – is a few minutes’ walk from Piccadilly Station. The store will be fitted out in Swarovski’s Wonder Lux concept, which will showcase the brand’s signature blue colour palette. It will also feature an exclusive suite on the mezzanine floor for support customers on a one-to-one basis. Swarovski will join the wider retail offering at Kingsland and Carrington House, including JOSEPH, TUMI, Russell & Bromley and Pret A Manger. Sarah Goldman, head of retail at GPE, said: “We are thrilled that Swarovski has chosen Kingsland House for their latest store. Their premium shop fit-out will add something unique to Regent Street for all customers to enjoy. The brand’s collections have a broad reach worldwide and...