Retail Property Deals

Castore to make regional debut at Centre:mk

12th June 2024

Premium performance sportswear brand Castore is set to make its regional debut at the Centre:mk shopping centre in Milton Keynes. Opening on Silbury Arcade in late June, the 865 sq ft store will be one of the brand’s first new design store concepts. The regional flagship will showcase Castore’s mainline range across its menswear, womenswear, and junior collections. Selected teamwear for Formula 1 teams McLaren Racing and Oracle Red Bull Racing will also be on offer, with the latter’s factory situated nearby within Milton Keynes. Castore has recently announced its collaboration with Umbro to have exclusive rights to work with their existing English Premier League team partnerships, adding to its current list of athletes, teams, and brands including; England cricket, Andy Murray, Newcastle FC, and local team Milton Keynes Dons. Kevin Duffy, Centre:mk’s centre director, said: “Pushing the boundaries in sportswear innovation, Castore is a natural addition to Centre:mk’s city-centre location situated in one of the fastest growing and most innovative cities in the country. We consistently outperform national benchmarks and are home to an exceptional line-up of anchor brands, including John Lewis & Partners, H beauty, and M&S, just one of the many reasons Centre:mk is a top 10 […]

Pandora reopens store as Liverpool ONE sees 15 brands invest since January

11th June 2024

Pandora has refurbished and reopened its store at Liverpool ONE, becoming one of 15 brands which have invested in the destination since the beginning of the year. The jewellery retailer has opened a 2,000 sq ft ‘Evoke 2.0’ store concept – which looks to introduce a modern and fresh aesthetic – at its existing unit on South John Street. Pandora joins a number of retailers that have actively invested in the Liverpool scheme, such as Zara, which is preparing to upsize into a 40,000 sq ft regional flagship from its current 27,000 sq ft space. In total, 90,000 sq ft of space has been enhanced and upgraded by existing brands at Liverpool ONE in 2024. Other retailers which have invested in the scheme this year include Goldsmiths and BOSS. This investment by existing brands has a positive impact on Liverpool ONE’s performance, with stores that refitted in 2022 and 2023 experiencing on average an 8.2% increase in weekly sales versus the 12 months prior to refurbishment. Those same stores are also averaging a 16% increase in sales to date in 2024. Rob Deacon, director of asset management at Grosvenor, said: “Pandora is the latest in a long line of top...

Trailberg to open debut store at Manchester Arndale

11th June 2024

Clothing brand Trailberg is set to open its first permanent store in the UK at Manchester Arndale Shopping Centre, after signing a five-year lease for a 1,300 sq ft unit. The outdoor clothing brand will be located in the former Cruyff unit on the lower mall and offer the brand’s range of tracksuits, twinsets, windbreakers, hoods, quarter zips, and shorts. Until now, Trailberg’s products have mainly been available online or through partnerships with other retailers. Trailberg becomes the latest brand to select Manchester Arndale as the location for one of its first stores, and its signing follows the arrivals of French Connection, North Face, Dune, and MOSS at the scheme over the past 12 months. Steve Gray, head of European retail asset management at Global Mutual, said: “We always enjoy working with new and innovative businesses, so it is great to see Trailberg select Manchester Arndale for its first store. Trailberg has become a popular UK brand, especially in the North West, and we expect their new store to become popular with our shoppers. “Having a strong mix of brands is vital to maintaining a popular retail destination. Not only does it help to attract strong footfall, but it also […]

Sports Direct opens expanded store at Yorkshire’s Junction 32

10th June 2024

Sports Direct has has relocated and upsized its outlet store at Junction 32 in Castleford, Yorkshire. The renovated 7,000 sq ft store opened its doors on Friday 7th June, and offers a range of items from sportswear brands such as Nike, Adidas, Under Armour, Asics, and New Balance. The store will feature specialist sporting areas across men’s, women’s, and kidswear, as well as Sports Direct’s Running concept. Ger Wright, managing director if sports at Frasers Group, said: “We are pleased to open the doors to our larger, elevated Sports Direct store in Junction 32. This opening demonstrates our dedication to expanding and investing into our store portfolio, as well as bringing the best sports and leisure brands, and experiences to key retail destinations across the UK and internationally. “As the leading destination for sportswear in the UK, and with the support from our major global brand partners, we continue to expand our retail portfolio on our journey to becoming the number one sports retailer in EMEA.” Rachel Scott, head of leasing at Global Mutual, added: “Sports Direct has been integral to Junction 32’s retail mix. We are pleased to be welcoming a new and improved space where customers can browse the latest collections to […]

Luxury yoga brand to open Covent Garden flagship

10th June 2024

Luxury activewear brand Alo Yoga is set to open a new store within Shaftesbury Capital’s Covent Garden neighbourhood. Taking 5,000 sq ft at the junction of Neal Street and Earlham Street, the Californian-born brand’s entry into Covent Garden marks a milestone in its UK expansion. Spanning three floors, the store will offer a range of activewear, loungewear, accessories, and wellness products for both women and men. The store – which will be located at 25a Neal Street – will join Covent Garden’s roster of anchor stores from other performance-wear brands, with Neal Street being home to outdoor retailer Finisterre’s upsized store and Earlham Street set to welcome a flagship location for Swedish footwear brand Axel Arigato. Michelle McGrath, executive director of Shaftesbury Capital, said: “The signing of Alo Yoga is the latest in a series of key additions to the neighbourhood, with Shaftesbury Capital introducing 15 new brands to Seven Dials in the last 12 months, and nine retail signings this year alone. Attracting Alo Yoga demonstrates our dedication to bolstering the destination’s unique blend of tenants, achieved through establishing innovative anchor locations for a host of international and independent brands. The neighbourhood is already home to an unrivalled selection […]

Mr Mulligans takes ex-restaurant units to tee up Hemel Hemstead opening

7th June 2024

Adventure Leisure is set to open a new Mr Mulligans crazy golf-led venue in Hemel Hempstead, after taking over the premises of three former restaurants. The leisure operator will amalgamate the former Frankie & Benny’s, Chiquito, and Bella Italia units on Jarman Square to take 15,000 sq ft of space in the town centre. The venue – which will become Mr Mulligans’ 13th in the UK – is set to feature a gaming-themed 18-hole course, as well as additional activities including electro-darts, ping pong, pool, virtual reality games, deck shuffle, and Mulligans’ largest arcade zone yet. Mr Mulligans Hemel Hempstead will also feature a cocktail bar, restaurant, and dedicated birthday party and group booking areas. The Adventure Leisure group currently operates 12 Mr Mulligans sites across the UK, including venues in Basildon, Birmingham, Bournemouth, Bristol, Cheltenham, Newcastle, Norwich, Nottingham, Sidcup, Stevenage, Tonbridge, Woking, Worcester, and two venues in Milton Keynes. Adventure Leisure Limited is a subsidiary of Burhill Group Limited, which also operates 10 golf clubs and the BUNKERS! and Ninja Warrior UK brands. Mr Mulligans Hemel Hempstead will be BGL’s 30th venue.

Wood-fired restaurant concept Goldies debuts at Soho’s Kingly Court

7th June 2024

Goldies, the wood-fired restaurant concept led by Maxime and Yannis Alary, is set to open its debut restaurant at Shaftesbury Capital’s Kingly Court in Soho. The new concept will take 1,100 sq ft of space at the al fresco dining destination, delivering small and large plates centred on smoky flavours through wood-fired cooking. Goldies’ debut will look to complement the likes of Darjeeling Express, Donia, and Liu Xiaomian within Kingly Court, bringing a Western European flavour to the dining hub. The three-storey Kingly Court forms a key part of Soho, with an entrance onto the world-famous Carnaby Street. It is bounded by Kingly Street, a dining hub which has recently bolstered its food and beverage offer. Michelle McGrath, executive director at Shaftesbury Capital, said: “The Alary brothers are innovative and high-quality operators, and Goldies is an exciting new concept, bringing some of London’s best food to Kingly Court in Soho. The signing will occupy a key strategic corner of Kingly Court, signalling our ambition to create London’s iconic foodie destination, accompanied by other world class premium operators such as Donia and Darjeeling Express.” Maxime and Yannis Alary, co-founders of Goldies, added: “The West End is one of the most recognised […]

Central London mixed used building changes hands

6th June 2024

Commerz Real has sold a fully-leased office and commercial building in Central London to an investment management platform on behalf of multiple family offices. The German asset manager has offloaded Paternoster Square – part of its open-ended real estate fund hausInvest – to CLI Dartdriver, which belongs to German real estate investors Conren Land and Indigo Invest along with London-based Dartriver. The building – which is located in the City of London close to St Pauls Cathedral – comprises five floors spanning 20,420 sq ft, with around 80% of the property consisting of office space. The ground floor accommodates a number of retail units. Developed in 2002 as part of the wider Paternoster Square urban development, the eponymous building was acquired by hausInvest along with its neighbour, Paternoster House. Following the fund, hausInvest will continue to be present in the UK. Its largest asset in the portfolio is the 2.7 million sq ft Westfield London shopping centre, with other assets including 180 Great Portland Street in London, the Mann Island office building in Liverpool, and Victoria Square shopping centre in Belfast. Paternoster Square was sold for an undisclosed sum.

Lidl lines up Southside opening as London expansion continues

6th June 2024

Lidl is preparing to open a new store at Southside Shopping Centre in Wandsworth, as the supermarket retailer continues to expand in London. The 12,200 sq ft store represents a significant investment by Lidl, and will be opened by the Mayor of Wandsworth Sana Jafri on 13 June. Rebecca Ruddle, centre director at Southside Shopping Centre, said: “We’re thrilled to be home to the area’s first Lidl store. The new addition signifies the start of several enhancements we’re making here at Southside to ensure we continue to provide a great retail, food and leisure destination in the heart of Wandsworth.” The discounter hit a market share high of 8.1% and has been the fastest-growing bricks and mortar supermarket over the past nine months. In London alone, Lidl overtook Asda to become the third-largest supermarket last year. Lidl recently announced plans to open hundreds of stores across the country, as the retailer celebrates 30 years of trading in the UK. In London, target locations include Camden, Clapham, Shoreditch, and Notting Hill.

Ladurée expands flagship space at Covent Garden

6th June 2024

Luxury French patisserie brand Ladurée has opened a new space for tea and haute cuisine above its flagship store in Covent Garden. Located on the corner of the historic Market Building, the expanded tearoom overlooks the West Piazza and increases the brand’s footprint in the iconic setting. Ladurée becomes the latest brand to expand at Covent Garden, as landlord Shaftesbury Capital commits to invest in its portfolio of operators and retailers. The design of the space looks to nod to Ladurée’s dual heritage, drawing inspiration from the Versailles Hall of Mirrors as well as features of English manor houses. The space provides room for 36 additional guests and will provide a new take on the brand’s afternoon tea offer. Headed up by chef Julian Alvarez, the new tea offering features a mixture of French and English cuisine, offering the likes of finger sandwiches, scones, and mini patisseries. The evening food offer includes Vol-au-Vent, scallops with artichoke, and beef Wellington. Mélanie Carron, group CEO of Maison Ladurée, said: “Our talented design team has truly excelled themselves with the opening of the new Tea Room in Covent Garden’s iconic Market Building. Through this transformative journey, we have remained dedicated to preserving the intrinsic details...

TOCA Social kicks off second UK venue at Bullring & Grand Central

6th June 2024

Interactive football and dining experience TOCA Social has opened its second UK site at Hammerson’s Bullring & Grand Central in Birmingham. The venue is the concept’s first site outside of London and occupies a space above M&S and Zara, completing the repurposing of the former Debenhams store. Featuring 23 interactive boxes and four bars, TOCA Social Birmingham looks to combines immersive football-based gaming with a food and drink offering designed to complement the experience. The venue is open seven days a week, and offers packages for corporate events, screenings, and special occasions. The launch reflects Hammerson’s strategy to broaden the appeal of its destinations through new uses including entertainment, leisure, and social. Toby Tait, director of asset management at Hammerson, said: “Our vision is to create vibrant, multi-use destinations which offer an exciting mix of complementary social uses, from retail and entertainment to culture and art. The opening of TOCA Social embodies this approach and demonstrates how we are expanding the proposition of our destinations. As a regional first, we are excited to welcome TOCA Social to Bullring and can’t wait to get playing!” Alex Harman, president at TOCA Social, added: “Launching our second UK site and first outside of the capital […]

Bonmarché and Co-op make in-store outlet debut

5th June 2024

A Bonmarché outlet has launched within a revamped Co-op store in Lincolnshire, in what has become the first opening in a partnership between the two retailers. The value womenswear retailer – which has announced plans to ramp up its expansion in UK high streets over the next 18 months – has taken 3,000 sq ft within the new-look Louth store. The Co-op store has undergone a 12-week programme of works and improvements, with new additions including an updated look and layout with hot food, a bakery, and a Costa Coffee express. Parcel collection services are now also on offer. Mark Matthews, director of format and innovation at Co-op, said: “We are delighted to partner with Bonmarché. As we invest in transforming our Louth store we are committed to creating added services which provide a compelling customer offer in the community. The addition of a Bonmarché store will offer further value and choice for our member-owners and customers in Louth.” Founded in Wakefield in 1982, Bonmarché is one of the UK’s largest women’s only value retailers. It currently operates over 200 stores across the United Kingdom.