Retail Property Deals

YoYo Noodle and German Doner Kebab openings lead flurry of F&B activity at Metrocentre

13th November 2024

YoYo Noodle and German Doner Kebab (GDK) have now opened at Metrocentre in Gateshead, as the scheme announces a number of developments within its food and beverage offering. Fast-casual restaurant chain YoYo Noodle has opened a 2,786 sq ft space in the scheme’s Upper Blue Mall, whilst GDK, known for its signature gourmet kebabs, recently joined Metrocentre’s Lower Yellow Mall. The new openings, along with other signings, expansions, and refits, have contributed to 25,000 sq ft of changes within the F&B offering at Metrocentre. These include the fitting out of a new restaurant for Tomohawk Steakhouse on the Upper Yellow Mall, with the restaurant set to open before the end of the year. Meanwhile, ASK Italian, Nando’s, and Wagamama have invested into significant refurbishments at their existing restaurants in Metrocentre’s Qube. ASK Italian and Nando’s have completed full refits, whilst Wagamama has finished a refurbishment of its 6,000 sq ft restaurant. Finally, Greggs is fitting out its new large store format in Metrocentre’s Upper Town Square, which is due to open in December. Noah Knapton, asset manager at Sovereign Centros from CBRE, asset manager of Metrocentre, said: “Quality F&B is critical for the shopping centre of the future, appealing to different visit intentions, […]

Technology retailer makes UK debut at Southampton’s Westquay

13th November 2024

Technology retailer Garmin has opened its first store in the UK at Hammerson’s Westquay shopping centre in Southampton. The retailer – which specialises in smartwatch and GPS technology – has taken a 2,625 sq ft unit, offering its full range of products in a physical environment for the first time. Garmin joins a mixture of global, national, and specialist stores alongside a range of leisure and eating out options at Westquay. Toby Tait, director of asset management at Hammerson, said: “We are thrilled to be partnering with Garmin on its maiden UK store, providing a space for it to bring its full collection of devices into one compelling brand experience for customers. We were quick to understand Garmin’s critical requirement for the right space in the right location to showcase the brand. Garmin boosts an already thriving Southampton destination, with Westquay now fully established as a destination for brands, events and experiences to serve the city and wider region.” Jon Oliver, managing director at Garmin UK & Ireland, added: “Westquay is a perfect location for us to open our first store. Not only it is down the road from our European headquarters, being so close to the South Coast and New Forest mean...

Supermarket retailer takes former Brighton Boots

12th November 2024

A high street property in Brighton previously occupied by Boots has been let to a local supermarket operator. The site at 17-19 St James’s Street was home to Boots for over 100 years. The 4,447 sq ft property received offers from multiple well-established brands, said Flude Property Consultants, which acted for the vendor. Flude said its client opted to proceed with a local retailer due to the simplicity of the deal and a desire to avoid subletting the space. Will Thomas, director at Flude, said, “While the retail market saw a slowdown during the summer months, we’ve noticed a marked recovery recently, with units across Brighton quickly going under offer. Our client was pleased with the outcome, as it provided a straightforward solution without the need for further complication.” The property was marketed at a guide rent of £75,000 per annum.

Bistro restaurant concept makes debut on Chelsea’s King’s Road

12th November 2024

Bistro restaurant concept Fantômas has opened its debut site at 300 King’s Road in Chelsea. Headed up by chef Chris Denney, formerly of 108 Garage, the concept has opened a 2,000 sq ft open kitchen restaurant with space for 80 diners. The venue also features a private dining space for up to 18 people, complemented by an adjacent courtyard. The menu at Fantômas offers dishes such as castelfranco salad, pumpkin and almond agnolotti, and crispy veal sweetbreads, as well as desserts such as fig savarin and chantilly cream, and blue brain cheese and piccalilli. Fantômas joins a number of other food and beverage operators on the King’s Road, including Alley Cats, which has recently opened its second site in London at 342 King’s Road, alongside Bluebird and Beaufort House, with Pizza Pilgrims also due to arrive later this year. Hannah Grievson, property director at Sloane Stanley, said: “Over the last year, we have laid the groundwork to position our estate as a leading location for some of the best culinary concepts in London, delivering flavours and brands that simply can’t be found anywhere else. Chris Denney’s experience alongside [founders] George Bukhov-Weinstein’s and Ilya Demichev’s expertise is the perfect duo for […]

Angel Central completes ground floor leasing with Therapie Clinic signing

12th November 2024

The ground floor of Angel Central in Islington is now fully let, following CBRE Investment Management’s signing of Therapie Clinic. The aesthetic medical centre will open a 2,172 sq ft facility later this year, adjacent to Rituals and the recently refurbished Accessorize store. The facility will offer services such as laser hair removal, body sculpting and tonal treatments, cosmetic injections, and skin treatments. Joining anchor stores Uniqlo and H&M, Therapie’s signing marks a milestone for Angel Central as it reaches full occupation of its ground floor, following the arrival of retailers such as Mango, KIKO Milano, and Oliver Bonas earlier this year. The recent openings have translated into improved performance across the centre, with Angel Central seeing a 34.8% uplift in sales throughout the third quarter of this year, and an 11.4% increase in like-for-like sales. Footfall during this period has also increased, up by 2.6% and 3.7% compared to Q3 2023 and Q3 2019 respectively, with year-to-date sales currently up by 25.8% and 8.1% on a like-for-like basis. Ciara Daffy, asset manager at CBRE Investment Management, said: “There have been several leading brands arrive at Angel Central in the last twelve months, and it’s fantastic to round off our […]

Evolve Estates completes flurry of deals at Northampton’s Grosvenor Centre

8th November 2024

Evolve Estates has announced a flurry of leasing activity at the Grosvenor Shopping Centre in Northampton, with four new signings and three lease renewals. Food and beverage operator Smoothies To Go has signed a seven-year lease on an 850 sq ft unit which is due to open later in November, whilst barbers Harun has already opened the doors to its 1,991 sq ft space. Also joining the scheme is The Leather Conservation, which opened a 10,550 sq ft unit on the third floor of the scheme, as well as gadget and gift MENKIND, which opened its 1,711 sq ft store in October after signing an 18-month lease. Evolve Estates has also secured three lease renewals with existing tenants, with Charlie Brown, Cards Direct, and Claire’s all recommitting to the scheme. The new signings follow the news that JD Sports will join the Northampton scheme in 2025, opening a 14,000 sq ft. Daniel Davies, senior asset manager at Evolve Estates, said: “We are delighted to welcome so many new retailers to the Grosvenor Centre as well securing lease renewals with some of the centre’s tenants. The further diversification of the retail offering adds to the appeal of the centre as a...

Theatre operator takes chunk of former Debenhams at Westfield London

8th November 2024

Capital Theatre has signed a 10-year lease with Unibail-Rodamco-Westfield (URW) for a new permanent 36,000 sq ft venue at Westfield London. The theatre operator will occupy the ground floor of the former Debenhams department store, with the new venue set to launch in October 2025. The new venue will launch with Dirty Dancing – The Classic Story on Stage, following the success of Dirty Dancing as the fastest-selling show in West End theatre history. The 620-seat venue is to be operated by Kindred Partners in partnership with award-winning producer Karl Sydow. Designed and built by the design team responsible for venues including The Bridge Theatre and The Young Vic, Capital Theatre at Westfield London will feature new backstage facilities, rehearsal rooms, dressing rooms, and creative and technical spaces. Food and drink will also be available throughout the day at the foyer café, whilst an onsite box office and merchandise store will be open seven days a week. Capital Theatre at Westfield London will join a number of existing leisure and entertainment options at Westfield London, including Exhibition London – a 17,000 sq. ft music and events venue— as well as mini-golf, climbing, and bowling experiences such as Sixes, Puttshack, City Bouldering, and All Star Lanes. […]

Hammerson acquires remaining 50% stake in Southampton’s Westquay

7th November 2024

Hammerson has taken full control of Westquay in Southampton after acquiring the remaining 50% stake for £135m. The real estate investment trust said the acquisition has been funded by the proceeds received from its recent disposal in Value Retail, the owner of outlet centres including Bicester Village. The stake was acquired from Hammerson’s joint venture partner, Singaporean fund GIC. Westquay spans over 1 million sq ft and is one the South Coast’s premier retail and leisure destinations. Retail tenants at the scheme include M&S, FatFace, Superdry, Next, Zara, H&M, Apple, Hollister, Jack Wills, New Look, and Waterstone’s, whilst its F&B offer includes the likes of CAU, Five Guys, Franco Manca, The Diner, Red Dog Saloon, Bill’s, Byron, Pizza Express, Wagamama, Tortilla, Nando’s, Yo! Sushi, and Handmade Burger Co. Rita-Rose Gagne, CEO of Hammerson, said: “This transaction is in line with our stated strategy. Combined with our recently enhanced funding position and disciplined approach to capital allocation, we are well placed to deliver growth and value creation”.

Lebanese nut retailer to open first standalone London store in Knightsbridge

7th November 2024

South Kensington Estates has signed Lebanese nut retailer Rifai for its first standalone store in London at 217 Brompton Road in Knightsbridge. Opening later in November, Rifai has taken a 2,413 sq ft space on a 10-year lease at an annual rent of £155,000. The new flagship store will introduce a range of nuts, chocolate, dried fruits, coffee, and traditional Lebanese sweets to the London market. Founded in Beirut in 1948, Rifai has full ownership of every process in the production of the roasted nut recipes, including quality control, production techniques, recipes, and flavours. Richard Blake, property director at South Kensington Estates, said: “Brompton Road remains a premier location for innovative and high-quality brands, and we are thrilled to welcome Rifai to our portfolio. Rifai’s rich heritage and dedication to premium products align perfectly with our vision of curating a vibrant and diverse retail experience. We anticipate that Rifai’s presence will attract both local residents and visitors, adding a unique flavour to our dynamic community.” Rifai was advised by Brasier Freeth, whilst Orme Properties advised South Kensington Estates.

Coffee shop brand brews up Yorkshire outlet centre opening

6th November 2024

Coffee shop brand 200 Degrees is set to open a new location at Junction 32 Shopping Outlet in Castleford, West Yorkshire. Opening this December, the 1,250 sq ft store will be the brand’s 22nd site across the UK and its sixth across Yorkshire. 200 Degrees – which opened its first location in Nottingham in 2012 – will cater to approximately 80 covers including both indoor and outdoor seating options. The coffee shop will offer a range of beverages as well as a food menu which includes sandwiches, sausage rolls, pastries and sweet treats. Will Kenney, commercial director of 200 Degrees, said: “We’ve seen from the popularity of our other coffee shops in the area that the good people of Yorkshire love 200 Degrees Coffee. We’re excited about joining the existing businesses in the shopping outlet and the exciting brands which are also opening there in the coming months.” Darren Winter, centre director at Junction 32, added: “We are thrilled to welcome 200 Degrees to Junction 32. With its delicious sweet treats and stunning beverage selection, we have no doubt it will become a firm favourite with our visitors and will make for the perfect place to stop off at whilst they...

Aesop to open first store in the North at Victoria Leeds

6th November 2024

Australian luxury skincare brand Aesop is set to open its first store in the North of England at Victoria Leeds. Located in Victoria Quarter, the 753 sq ft store will open in January 2025 and showcase the brand’s full range of fragrance, skin, hair and body care products. A certified B Corporation, Aesop at Victoria Leeds will look to honour the heritage of the Grade II-listed space whilst also reflecting the brand’s craftsmanship and ethos. Rachel Bradburn, leasing director at Victoria Leeds, said: “Aesop choosing Victoria Leeds for their first store in the North of England strengthens our position as the premier destination for luxury brands. It’s a testament to our discerning customer base, but also to Aesop’s thoughtful approach in selecting locations where they can integrate seamlessly into the local community. We’re excited to see their unique store design come to life when the store opens, further enhancing our distinctive retail offering.” Ryad Djellas, general manager, Aesop, European Zone, added: “We have been eager to open our first signature store in the North for some time now and were delighted when the opportunity within the historied County Arcade presented itself. The design of our spaces matters deeply to us. […]

Beauty brand takes slice of former Silverburn Debenhams unit

6th November 2024

Harrods-owned beauty brand H beauty is set to open its sixth location at Silverburn in Glasgow. Taking 22,500 sq ft of space, the brand will occupy part of the former Debenhams department store, which has now been re-let following a repurposing exercise. The new store will offer a range of make-up, skincare, and fragrances from a variety of brands. This latest signing follows a number of recent additions at Silverburn, including retailers The White Company, TAG Heuer, All Saints, Polestar, and Rituals, as well as an upsize from Zara. F&B and leisure tenants which have joined the scheme recently include King Pins, Bread Meets Bread, and The Real Greek. Silverburn is joint-owned by Henderson Park and Eurofund Group. Christophe Kuhbier, head of investments, Europe, at Henderson Park, said: “Best-in-class shopping centres like Silverburn have thrived in recent years with improved footfall and increased consumer spending fuelling renewed confidence from retailers. We are seeing strong appetite for space from a broad range of occupiers as we continue to increase occupancy levels and perfect the asset’s high quality tenant mix. This latest letting is a continuation of our business plan to create value and deliver rental growth while firmly securing Silverburn’s position...