Retail Property Deals

NOTTO set to open second restaurant in Covent Garden

9th November 2023

Italian inspired restaurant NOTTO is preparing to open the doors to its second location in London’s Covent Garden. The concept – which is led by Michelin-starred chef Phil Howard – will be opening at 4 Henrietta Street, building on its success at its flagship destination in Piccadilly. Opening in a 1,485 sq ft unit, the 96-cover restaurant will launch on 13 November and offer a range of pasta dishes along with focaccia, starters, and desserts. Covent Garden is owned and managed by Shaftesbury Capital. Thomas Pain & Company acted on behalf of NOTTO to secure the site. CBRE acted for Covent Garden.

The Real Greek set to open debut Liverpool site

9th November 2023

Authentic Greek restaurant The Real Greek is set to make its Liverpool debut after agreeing a deal to open at Grosvenor’s Liverpool ONE shopping centre. Occupying a 3,900 sq ft unit on Paradise Street, the Fulham Shore-owned operator’s arrival will take the total area of food and beverage and leisure space signed at the scheme in 2023 to 156,000 sq ft. The 162-cover restaurant will offer hot and cold meze, souvlaki Wraps, Greek salads, and sweet treats such as baklava. The drinks menu will include Greek wines, beers, and aperitifs. In addition, Caribbean restaurant and bar Turtle Bay has upsized its existing location on Hanover Street to create a 3,700 sq ft flagship, whilst independent café and cocktail bar Loretta’s Parkside Tavern has recently opened on Chavasse Park. The other food and beverage and leisure operators to take space at Liverpool ONE this year are Gravity MAX (100,000 sq ft); Flight Club (10,000 sq ft); MOJO (3,500 sq ft); Byron (3,200 sq ft); Leveltap (6,500 sq ft); Joe & The Juice (1,800 sq ft); Bean Coffee Roasters (4,400 sq ft); and School Lane Hotel (17,400 sq ft). Rob Deacon, asset management director at Grosvenor, said: “The Real Greek is an...

Islington Square 95% let after independent signings

9th November 2023

Cain International’s Islington Square has agreed the signing of five independent brands, bringing the mixed-use scheme’s retail and leisure space to 95% let. Joining the development is childrenswear brand Wheat, which will make its debut in London with the opening of a 1,919 sq ft store. Lettings have also been agreed with artisan florist brand The Rooms and women’s clothing brand Percy Langley, which will be opening their second London locations with 370 sq ft and 1,439 sq ft units respectively. Meanwhile, clothing brand The Good Neighbour has agreed to take a 1,715 sq ft unit on a six-month basis. The retailer will open a pop-up store with the potential for conversion to a permanent site. The new lettings bring the total amount of deals completed at Islington Square this year to eight, with The King’s Head Theatre, Energise Games, and Sticky Mango all agreeing to join the development in 2023. Islington Square is also home to brands such as Anthropologie, Borough Kitchen, Arlo & Jacob, APC, and Duck & Dry, and restaurants including Megan’s, Sticky Mango, Prezzo, Bewliehill, and Omnom. Robert van Vliet, vice president for asset management at Cain International, said: “Joining our existing strong leisure, retail and […]

M Core completes £35m retail portfolio acquisition

9th November 2023

M Core has completed the £35m acquisition of the Harrier portfolio, which spans over 334,000 sq ft of retail assets across England and Scotland. The most dominant asset in the portfolio is Antelope Retail Park near Southampton, which comprises nearly 138,000 sq ft of retail space. It is anchored by national retailers including The Range, Lidl, Ninja Warrior, KFC, The Gym, Greggs, and Costa Coffee. M Core has also added Meynell Road Retail Park in Darlington, a 28,866 sq ft asset anchored by B&M and McDonald’s. Also included in the Harrier portfolio is a 37,500 sq ft Matalan store in Newport, the Isle of Wight, a Morrisons store in Coventry, a The Range store in Dumfries, a Wickes in Bury, and two Co-op stores in Southport and Malmesbury. The portfolio will be managed by commercial property and investment company LCP, which is part of M Core. LCP group managing director James Buchanan, said: “We could not let up this exceptional opportunity to acquire such a high-quality, multi-site portfolio, spanning much of the UK. These assets include significant retail destinations in affluent locations, of a size, scope and social impact that supports our investment goals. “We are excited by the potential […]

Victoria Leeds at full occupancy following seven lettings

8th November 2023

The Victoria Quarter in Leeds is now at full occupancy following agreements with seven new tenants to take space at the shopping centre. The scheme – which has not been at full occupancy since it opened in 2016 – will welcome the operators on either a permanent or temporary basis before Christmas. Home furnishings brand Cox & Cox will be opening in November, offering a range of home furniture and accessories, whilst spirits retailer Wolfe Bros of Yorkshire will be returning to the scheme for a second year, opening a temporary pop-up store. Also opening this month is beauty salon Allertons, which will offer a number of treatments, as well as lingerie specialists Pour Moi. Curated Makers will be bringing together a number of small artisanal businesses under one pop-up, whilst technology-focused charity Rasberry Pi will also be opening on a temporary basis. Another pop-up – rum retailer Libations – will also be joining the Leeds scheme. Jo Coburn, senior manager at Victoria Leeds, said: “We are thrilled that Victoria Gate is fully occupied, with every unit now filled and more to open in 2024. Victoria Leeds has long been a destination in its own right, but now fully let, […]

Sheffield retail warehouse plot acquired for £5.4m

8th November 2023

Placemaking and regeneration specialist LCR has completed a £5.4m acquisition of a 1.82 acre site in Sheffield which is currently home to retail warehouses. The site on St Mary’s Road is a five minute walk from the city’s main train station, Sheffield Midland, and is part of an area earmarked for regeneration. The two-unit scheme is currently solely occupied by a DFS store following a relocation from the site by Wren Kitchens. The acquisition comes as part of LCR’s partnership with Sheffield City Council, South Yorkshire Mayoral Combined Authority, Homes England, and Network Rail to deliver regeneration around Sheffield train station. The partnership had previously established the Sheffield Midland and Sheaf Valley Regeneration Framework, which looks to improve the connectivity between neighbouring communities, optimise rail facilities, and enable the delivery of new homes, jobs, and public value. The regeneration programme aims to create an enhanced area around the train station, improved transport connections, new travel routes, better public realm, and the creation of mixed-use developments. Karl Drabble, regional director at LCR, said: “This is good news for the North’s rail infrastructure and this acquisition is an early milestone for progress around Sheffield Midland Station. Over time, regeneration around the gateway to...

London’s first carbon-negative coffee shop opens in Chelsea

8th November 2023

Coffee shop and roastery Kiss the Hippo has opened London’s first carbon-negative coffee shop in Chelsea. Located at No.285 on Sloane Stanley’s Fulham Road on 4 November, the 600 sq ft store offers a range of coffees, as well as pastries, cookies, and focaccias. The store join Kiss the Hippo’s other locations including its latest in Fitzrovia Corner. This year also marks the five-year anniversary of the brand, which opened the doors to its first store in Richmond 2018. The brand has since won the UK Barista Championships three times, and has opened a number of stores. Kiss the Hippo’s latest location looks to boast a minimalistic and modern feel, with the store adorned with Kristina Dam Studio Japanese dining chairs, Audo Copenhagen Danish furniture, and mood-setting lighting by Cedar and Moss. The brand also offers compostable pods, coffee bags, equipment, a subscription service, and coffee workshops for customers to make their own coffee at home. Hannah Grievson, property director at Sloane Stanley, said: “Kiss the Hippo will be a solid addition to the Fulham Road. Not only does its unique concept appeal to consumers from a sustainability perspective, promoting itself as London’s first carbon-negative coffee company, but it delivers […]

Prime Edinburgh retail property snapped up for £3.3m

7th November 2023

A prime retail property on Edinburgh’s prestigious George Street has been acquired for £3.325m by Buccleuch Property. The 7,819 sq ft unit at No. 49 is currently let to White Stuff on a new 10-year lease and sits in a prime location between Frederick Street and Hanover Street. The property also features an unoccupied apartment building to the rear, presenting an opportunity for renovation. Sitting within the UNESCO World Heritage Site ‘New Town’ area, the property is in close proximity to other retailers in the area including Anthropologie, Hobbs, Jigsaw, Lululemon, Molton Brown, Monsoon, Seasalt, and Sweaty Betty. It is also a five-minute walk from Edinburgh Waverley Train Station. Buccleuch Property was advised by Lismore Real Estate Advisers, whilst Springford & Co and joint agents FMX Urban Property Advisors, represented the vendor, Columbia Threadneedle Investments. Chris Thornton, associate of Lismore Real Estate Advisors, said: “Edinburgh is one of the UK’s strongest regional cities, and we are pleased to have secured this prime asset on behalf of our client. “49 George Street is a prominent retail unit situated in the heart of George Street’s prime pitch which is now fully let with significant occupier demand, with 49 George Street well placed […]

Lounge to make Liverpool debut with pop-up

7th November 2023

Lounge is set to make its Liverpool debut with the opening of a Christmas pop-up at Liverpool ONE. Taking a 4,000 sq ft space, the underwear brand will be launching its pop-up store on South John Street this December. The store will feature the brand’s range of lingerie, loungewear, and nightwear. It will be fitted out in Lounge’s ‘modern luxury’ style, with neutral-toned interiors and curated lighting. Following a number of successful pop-ups, Lounge made its first venture into bricks-and-mortar retail earlier this year at Westfield White City. The brand is targeting a further seven locations over the next 12 months. Rob Deacon, asset management director at Grosvenor, said: “Lounge is becoming increasingly renowned across the UK and internationally, so the launch of the upcoming Christmas pop-up at Liverpool ONE is a hugely exciting moment for us. We are seeing a growing amount of successful online retailers like Lounge seek physical locations, so we are very pleased to be welcoming them to South John Street in their city debut, reemphasising Liverpool ONE as the go-to destination for expanding, innovative retailers, and the continued resilience of the high street.” The announcement follows the successful return of ARNE’s pop-up at Liverpool ONE. […]

Two signings set to open at Luton’s The Mall by Christmas

7th November 2023

Sovereign Centros, on behalf of scheme owner Frasers Group, has announced the signing of two new tenants at The Mall in Luton. The Range has signed for a 35,000 sq ft unit which it will operate under the Wilko fascia which it acquired in September. The store – which was previously operated by Wilko – is one of five opening under the brand during the festive period. Starbucks will also join the centre, having signed a 15-year lease for a 1,720 sq ft unit in the middle of the centre. Both brands intend to open this side of Christmas. Mark Stapleton, asset manager at Sovereign Centros said: “These two openings are great news for the centre and the town ahead of that critical pre-Christmas period and will give shoppers an added reason to visit us.” In March, Frasers Group acquired the Luton scheme for £58m from Capital & Regional. The 900,000 sq ft shopping centre is home to retailers such as Primark, Tk Maxx, H&M, River Island, and Boots. Its grocery offer includes Lidl and Tesco Express, whilst food and beverage operators at the scheme include Costa and Muffin Break. The Mall’s retained letting agents are JLL and NM Real...

Loungers to open in South Wales shopping centre

6th November 2023

Loungers is gearing up to open Consurio Lounge at Castle Court Shopping Centre in Caerphilly, South Wales, this December. The name – consurio meaning ‘conjuring’ in Welsh – is a nod to comedian and magician Tommy Cooper’s home town. James Taylor, asset manager at ESTAMA UK, said: “We are absolutely delighted to be welcoming Loungers to Castle Court Shopping Centre. Loungers are a superb occupier who will enhance the offer that the shopping centre provides to the town and community. This is a real show of faith in the town as it embarks on exciting regeneration plans.” In October, Loungers – which owns the Lounge, Cosy Club, and Brightside brands – said it is on track to open a total of 34 new sites during the 2024 financial year – a record number for the group. EJ Hales acted on behalf of ESTAMA.

Womenswear brand launches first permanent store on the King’s Road

6th November 2023

Womenswear brand Chinti & Parker has opened its first permanent store on Chelsea’s Kings Road, following a number of successful pop-ups over the last two years. Opening at No.322, Chinti & Parker will offer a range of designs including luxury cashmere, and will sit nearby to retailers such as Birdie Fortescue and Love My Human Townhouse. The store has been designed by the retailer’s in-house team, and looks to deliver a minimalistic and sleek experience. Sustainable fashion brand Aspiga has also opened a larger store on the King’s Road this month, replacing its current unit. The 1,835 sq ft store at No.312-314 will be open until March next year and stocks a range of dresses, corduroy tailoring, wool knitwear, resortwear, and handcrafted accessories. A collection of menswear is also available. Hannah Grievson, property director at Sloane Stanley, said: “Welcoming Chinti & Parker back to the King’s Road as a permanent tenant demonstrates just how successful our ‘on-demand’ leasing strategy is. By trying out the location and testing the waters with a series of pop-ups and growing its appeal to the wider demographic and community, we’ve been able to convert this into a permanent store. “We always want to collaborate, enabling...