Retail Property Deals

Perfumery makes regional debut at Victoria Leeds

25th September 2024

Le Labo, part of the Estée Lauder Company, has made its regional debut at Redical’s Victoria Leeds. Located on Queen Victoria Street, the perfumery’s boutique spans 1,500 sq ft and looks to reflect its New York City heritage whilst honouring the Victorian-era architecture of the location. In line with Le Labo’s concept, the new store allows customers to engage with the art of slow perfumery and create personalised perfumes. The brand’s collection of 19 core genderless perfumes will be made to order and select creations can be packaged with a personalised label including the date, location and a message of choice. Customers can also refill their fragrance in store. Rachel Bradburn, leasing director at Victoria Leeds, said: “Le Labo is a globally renowned perfume brand, celebrated for its unique, personalised customer experiences that leaves a lasting impression. Their innovative philosophy perfectly complements Victoria Leeds’ dedication to offering an exceptional and immersive shopping journey. Welcoming Le Labo not only enhances our best-in-class tenant mix but also firmly cements Victoria Leeds as a premier destination for luxury brands.” Le Labo’s opening follows the recent announcement that British heritage and lifestyle brand Barbour has made its city debut at Victoria Quarter, marking its first New Heritage […]

Evolve Estates announces flurry of leasing activity

24th September 2024

Evolve Estates, part of M Core, has announced the completion of a number of new lettings and renewals across its portfolio in the South of England. The new signings have been completed across six of the firm’s schemes. At Totton Shopping Centre in Southampton, Greggs has renewed the lease for its existing 1,000 sq ft unit on a five-year term, whilst theatre company Fluid Motion has taken a 980 sq ft unit at the scheme. This will look to operate as a creative hub where the theatre company will host drop-in sessions and activities. Meanwhile, a local convenience operator has taken a new unit on Queen’s Walk in East Grinstead, West Sussex. The operator has taken a 10-year lease on a 700 sq ft refurbished unit. In Portsmouth, mobility providers Eden Mobility has signed a ten-year renewal on its current 2,650 sq ft unit on London Road. At Evolve Estate’s Swanley Shopping Centre, locally-based hairdressers Hanson’s Hair has opted to renew the lease for its 650 sq ft unit for another five years. Finally, mobile network operator EE has agreed an additional five-year term for its 1,700 sq ft store on Calverley Road in Tunbridge Wells. Sebastian Macdonald-Hall, co-founder at...

Dune continues expansion with Lakeside opening

23rd September 2024

Footwear retailer Dune London has continued its expansion with the opening of a newly-relocated store at Lakeside Shopping Centre in Essex. The new store has a sales floor spanning 1,597 sq ft and is fitted with the brand’s new premium concept, which brings together a neutral colour palette of gold, stone and warm cream tones. The relocated Lakeside store will house Dune London’s newly-launched AW24 women’s, accessories and men’s ranges. Dune London’s relocation looks to increase the brand’s overall visibility in the shopping centre, with the storefront featuring a new window tower with integrated media screen. Howard Oldstein, centre director at Lakeside Shopping Centre, said: “We’re thrilled to see Dune London move into their new, larger unit at Lakeside. This move, coupled with their decision to showcase their new retail concept to UK shoppers with us for the first time, highlights the brand’s success within the centre. We’re excited for our visitors to enjoy everything Dune London has to offer.” The new opening adds to the brand’s expanding store footprint in the UK, totalling 52 standalone stores and 8 concessions.

Berghaus opens second standalone UK store at Gloucester Quays

23rd September 2024

Outdoor brand Berghaus has opened its second standalone store in the UK at Peel Retail & Leisure’s Gloucester Quays outlet centre. The new store – which is located opposite Adidas – spans 2,117 sq ft and offers Berghaus’ range of waterproof jackets, insulated clothing, daysacks, and footwear. Berghaus’ new store is also a debut concept for the brand, featuring wooden furniture, metal finishes, a 360-degree landscape design, as well as life-like foliage on the exterior. Paul Carter, asset director at Peel Retail & Leisure, said: “Berghaus is the latest in a series of top retailers that have committed to Gloucester Quays over the last 12 months, and is exactly the calibre of brand that the outlet has become known for. Our dynamic line-up of outdoor-wear options is by design, with each new arrival responding to the needs of our catchment, and the opening of Berghaus’s second-ever UK standalone store and brand-new store concept will add even more diversity.” Adam Gill, head of sales UK & Ireland for Pentland Brands, added: “Berghaus is committed to helping people of all backgrounds to access the outdoors and our new store in Gloucester Quays has been designed to do that. We will welcome people […]

World’s longest indoor karting track to open at XSite Braehead

23rd September 2024

Indoor karting operator K1 Speed is set to open its UK flagship site at the XSite Braehead leisure destination. The facility – which will feature the world’s longest indoor karting track – is backed by a £5.5m investment. Scheduled to open in Autumn 2025, the multi-level track will span over 90,000 sq ft and be equipped with the latest in safety technology and advanced timing systems, offering racers of all skill levels a unique experience. In addition to the karting track, the venue will feature an e-sports lounge equipped with racing simulators, offering an experience for both individuals and groups. The simulators featuring advanced gaming technology will look to position K1 Speed Braehead as a prime location for hosting international e-sports competitions. K1 Speed has over 100 locations worldwide, including 70 sites in the USA and venues in countries such as Canada, Mexico, France and Italy, selected Braehead for its rich motorsport history and strategic location near Glasgow’s international airport. The venue is expected to attract a diverse audience – from go-karting enthusiasts and corporate businesses to families and casual gamers. Kitty Vaughan, head of UK leisure and F&B at Pradera Lateral, XSite’s asset management team, said: “We are absolutely delighted […]

L&G offloads landmark York building for £5.25m

20th September 2024

Legal & General has sold a landmark building in York city centre to Buccleuch Property for £5.25m. The property at 2-4 St Helen’s Square is currently leased to the Ivy Restaurant Group and Castle Fine Art. Jackson Criss acted on behalf of Legal & General, whilst MHPI acted for Buccleuch Property. Philip Eves, investment director at Buccleuch Property, said: “We are thrilled to announce the acquisition of this historic property in the heart of York city centre. This addition not only enhances our existing portfolio but also aligns with our core strategy of incrementally elevating the quality of our assets and targeting properties with robust tenant demand. Opportunities to acquire such a prestigious asset in York are exceptionally rare, making this a significant milestone for us. “St Helen’s Square offers a secure covenant on prime retail and leisure space, supported by strong occupational demand. This acquisition underscores our commitment to investing in high-quality properties that deliver long-term value.” James Metcalf of MHPI added: “York is one of the UK’s strongest regional cities, and we are delighted to have secured this prime asset for our client. Properties like 2-4 St Helen’s Square rarely become available, given that most buildings in this...

Swansea shopping centre changes hands for £6.5m

20th September 2024

Delancey Real Estate, an investment, asset, and development firm, has announced the successful sale of Swansea’s Quadrant Shopping Centre for £6.5m. Lunson Mitchenall completed the sale on behalf of Delancey’s client, a major UK pension fund, to a Wales-based private investor. The asset spans 200,000 sq ft and is anchored to tenants including Boots, WHSmith, and JD Sports, and links into Swansea’s indoor market and the city’s primary bus station. The scheme – which sits adjacent to the former Debenhams and surrounded by the St David’s Place and Swansea Central North developments – represents a key site within Swansea City Centre. Dan Berger, director of property and funds at Delancey, said: “This sale is another milestone in our journey of rebalancing away from real estate sectors such as secondary shopping centres and secondary offices. The transaction is an example of our proactive approach with one of the key pillars being our willingness to sell. We aim to provide our clients a high-quality, high conviction portfolio that is well placed to deliver over the long term.” Chris Watt, director in Lunson Mitchenall’s investment team, added: “The sale represents a successful result for our client but also demonstrates increasing investor confidence into the shopping […]

Iconic Dubai developer chooses Knightsbridge for debut UK concept store

20th September 2024

Dubai-based developer Binghatti – known for the ongoing construction of the next world’s tallest building – is set to open its first concept store in the UK in London’s Knightsbridge. The company has signed a 10-year lease for a 15,000 sq ft store and showroom at 197-205 Brompton Road, part of the South Kensington Estate. The store will serve as a showcase for Binghatti’s developments and collaborations with luxury brands such as Mercedes, Bugatti, and Jacob & Co. The space will feature retail concessions, showrooms of the developer’s residencies, and a luxury catering offer. Binghatti’s arrival in Knightsbridge adds to the area’s growing line up of high-end interior and lifestyle brands, including YDF, Luxury Living and Dolce & Gabbana Casa. Emma Wills, director, central London retail at Colliers, said: “Binghatti is a leading global developer, and its investment into the London market for this concept store signifies the city’s ongoing appeal to major international businesses. This gateway site, close to Harrods is the perfect location for luxury retail and lifestyle under one roof. The store will incorporate homewares, fashion and accessories with showrooms and a café, and is a prime example of a multidimensional retail platform which has the ability […]

Footasylum goes up a size at Merry Hill

19th September 2024

Footwear retailer Footasylum is set to more than triple its presence at Merry Hill shopping centre in Dudley. The retailer – which has operated at Merry Hill for a number of years – will combine its existing 3,000 sq ft unit with an adjacent space to increase its footprint to a total of 10,000 sq ft. Footasylum’s new space will be designed to create a more modern and engaging shopping experience, enabling customers to benefit from faster checkout times through the introduction of a mobile payment system. The expanded store will also have an extended range of products, and will introduce Footasylum’s women’s range, which includes brands such as Nike, Adidas, Monterrain, Forena, and Zavetti Canada. Alistair Winning, asset manager at Sovereign Centros from CBRE, on behalf of Merry Hill, said: “Footasylum is the latest in a long line of top-quality brands that have invested in Merry Hill, and this upsize from a tenant that has been with us for many years shows just how profitable the centre is. They are in the heart of the scheme, with the likes of Nike Unite, Skechers, and Schuh nearby, and their combined success is vindication of our approach to clustering in this category. […]

Duo of retailers select Manchester Arndale for city debut

19th September 2024

Two retailers are set to make their Manchester debuts after agreeing deals to open at Manchester Arndale shopping centre. Korean beauty specialist PURESEOUL has signed a 10-year lease for a 1,662 sq ft space, whilst mattress company Emma Sleep will occupy a 1,789 sq ft space on a five-year lease. Launching as an online retailer in 2019, PURESEOUL has since opened stores in locations such as London and Oxford, and is opening its first store in Birmingham in September. The retailer’s Manchester Arndale store marks a debut in the North West for the brand. Also starting out as an online retailer, Emma Sleep opened its first physical store in Stratford, London to allow customers to book personal product consultations and explore its range of mattresses. The Manchester Arndale store will become the brand’s first outside of London. The new lettings follow a number of lease renewals and regears at the Manchester scheme, with brands including Costa Coffee, Ann Summers, New Look, Swarovski, and Kiko Milano all signing new lease agreements at Manchester Arndale. This latest run of leasing activity caps off a busy first half of the year for Manchester Arndale. The scheme welcomed the likes of Space NK, Kuoni,...

Dave’s Hot Chicken to make UK debut in the West End

18th September 2024

American quick-service restaurant brand Dave’s Hot Chicken is set to make its UK debut in London’s West End. The fried chicken chain will open at 40 Shaftesbury Avenue, W1, in the London Trocadero building. Founded in 2017, Dave’s Hot Chicken operates over 200 sites globally, and recently signed a franchise agreement with Azzurri to open 60 sites in the UK. The brand is backed by big celebrity names such as Drake, Samuel L Jackson, and Usher, and is one of the fastest-growing restaurant brands in the US and on social media. P-THREE acted for the landlord Criterion Capital on the deal. Thomas Rose, co-founder of P-THREE, said: “We are always looking for the next biggest trends and leasing a unit to Dave’s Hot Chicken in such a prime location for their first UK store is another great achievement across our London leasing portfolio this year”. Omar Aziz, director at Criterion Capital, added: “We are delighted to welcome this global brand to its first London flagship at our prime Trocadero site in Piccadilly Circus. As part of our prestigious West End portfolio, which boasts some of the highest footfall in Europe, we remain committed to driving long-term growth and supporting a […]

Cheesecake specialist takes slice of Soho for second London site

18th September 2024

Basque cheesecake specialist La Maritxu has signed for its second location in London at Kingly Street in Shaftesbury Capital’s Soho neighbourhood. The operator will open a 271 sq ft café at 10 Kingly Street, adjacent to the entrance of Soho’s Kingly Court food hub. Founded in 2021, La Maritxu specialises in Basque cheesecakes, originating from San Sebastian. The store will serve a menu which includes single slices as well as 8″ and 10″ cakes, as well as coffee. Customers will also be able to acquire brand merchandise, including aprons and utensils. La Maritxu is due to open in Soho later this month, joining a number of operators who have opened within the neighbourhood. This includes The Little Violet Door at 9 Kingly Street, an upsized Two Floors at 3-4 Kingly Street, The Counter at 15-16 Kingly Street, as well as Liu Xiaomian and a refurbished OKA in Kingly Court. Also joining the estate later this year is Donutelier on Carnaby Street which, like La Maritxu, will add a grab-and-go or stop-and-pause option at a gateway to Kingly Court. Last month, Goldies, the concept from the team behind local bistro Blanchette, also opened within Kingly Court, enhancing the destination’s position as...