Retail Property Deals

The Range secures former Cwmbran Wilko store

30th October 2023

The Range has agreed to join Cwmbran Shopping Centre, taking residency in the former Wilko store. Taking 30,620 sq ft of retail space, the homeware and garden retailer has signed a 15-year lease at the South Wales destination. The retailer expects to open the store within the coming months. LCP, part of M Core, owns and manages the shopping centre. It has recently secured a number of new deals with occupiers, including the recently opened Coffee#1 and Dunelm, which is set to launch at the end of the month. Alex Williams, asset manager at LCP, said: “The Range consistently tops the list of desired new entrants to the town when we carry out customer feedback. We are delighted to be able to deliver on this desire and look forward to welcoming another household name to the town centre. “The swiftness with which we’ve been able to secure reoccupation of the former Wilko space – with The Range being just one of numerous interested parties – is a testament to the continued high level of demand for retail premises in Cwmbran. It’s been a pleasure to work with the team at The Range to ensure that the transaction proceeded efficiently to […]

Karaoke operator aims to hit a high note at Waterloo

30th October 2023

Karaoke venue chain Lucky Voice is set to invest £1.6m into a new site at London’s Waterloo, becoming its first London site to the south of the River Thames. Taking a 3,200 sq ft unit at Waterloo Station’s The Sidings, Lucky Voice’s newest location will be situated underneath platforms 20-24, Propel reported. The Waterloo venue will become the chain’s fifth in London, following on from sites in Soho, Islington, Holborn, and Liverpool Street. The operator also has a site in Brighton. Charlie Elek, managing director of Lucky Voice, said that opening near major transport hubs is a “key part” of its growth strategy. The venue will be home to eight karaoke booths, a late-night bar, a VIP karaoke pod, a larger 20-capacity pod for bigger groups, and will have a late-night 2:30am licence. Lucky Voice Waterloo will also offer a menu which includes pizza, tacos, and small plates. The company revealed that its most recent opening in Liverpool Street was its best ever, with revenue during the first month up by 12% on its previous record at Holborn in 2019.

FHP completes hat-trick of Nottingham lettings

30th October 2023

FHP Property Consultants has secured three deals in Nottingham city centre on behalf of private landlords. Rudy’s Pizza, which now has over 20 UK sites, has completed a letting for the former FCUK building at 6-10 Victoria Street. The building is now undergoing a fit-out of the ground and basement floors in preparation for an opening in late November. Regional jeweller Grace & Co has secured the former TM Lewin unit at 17 St Peter’s Gate. The building – which sits between White Company and Molton Brown – has seen refurbishment at ground and first floor with the upper levels converted to residential accommodation. The letting brings Grace & Co’s total store count to 11. Meanwhile, tea shop Bird & Blend has relocated from its previous spot at Victoria Street to a larger unit at 24 Bridlesmith Gate. The new store spans 1,193 sq ft of trading space over two floors. Oliver Marshall, director at FHP Property Consultants, said: “It is always great to bring new tenants to the city and to relocate existing ones to secure their long-term commitments to Nottingham. These are three really strong brands in different sectors that really add to the vitality of the city […]

Lego lands in Dublin

27th October 2023

Lego has opened the doors to its second Irish store store at Dublin’s Blanchardstown Shopping Centre. The 2,002 sq ft store features a range of products as well as immersive experiences, including an interactive ‘Pick-a-Brick’ wall and a ‘Build-a-Minifigure’ tower. The openings follows the launch of Lego’s first standalone store in Ireland on Grafton Street in Dublin in August of last year. Sharon Walsh, leasing director at Falcon AM, asset manager for Blanchardstown Centre, said: “It’s great to have the LEGO store now open and we know adults and children alike will be hugely excited to visit the brand’s experiential store. “We are always on the look out for stores offering something different for our customers and the interactive amenities such as the Pick-A-Brick Wall, Build-a-Minifigure Tower and extensive range of sets of products is what makes Blanchardstown Centre such a top destination in the Dublin area.”

Bakery chain set for Harrogate opening

27th October 2023

Cornish Bakery is set to open a new store in Harrogate at the end of October. Opening on the 30th, the bakery chain’s new location will occupy a 19th century property formerly home to a chemist and then part of the Ogden jewellery store. The bakery has retained some features of the original building including gilded columns and stained glass windows. Cornish Bakery founder and owner Steve Grocutt said: “We are delighted to be opening our Cornish Bakery in the beautiful spa town of Harrogate. We are on a constant journey to redefine what a bakery is does and what it can be, and we therefore build all our bakeries differently. “We have taken on this historic Harrogate property, uncovering some interesting features within it that will be showcased in the beautiful interior we have created. “We also believe a bakery should be part of the community so our newly employed team will be actively seeking opportunities to work with local organisations in the Harrogate area.”

Krispy Kreme set to join prime London location

26th October 2023

Krispy Kreme is set to make a sweet splash on Oxford Street with the opening of their flagship store. Savills and Knight Frank facilitated the 10 year lease of the 2,783 sq ft retail unit at 27 Oxford Street on behalf of Emperor International Holdings Limited. This move reflects the renewed appeal of the area for both traditional retail brands and food and beverage operators. Recent months have witnessed an influx of businesses like Lids, Pandora, Foot Asylum, Fragrance Shop, and Reserved, expanding their presence around the Elizabeth Line. Jamie Dunning, President and Managing Director of Krispy Kreme UK & Ireland said: “I’m delighted to be bringing the joy of Krispy Kreme to the West End, offering London’s shoppers and workers a one of a kind experience to share an indulgent treat in world-class surroundings.

M Core continues aquisitions in Norwich

25th October 2023

Evolve Estates, a commercial property and investment firm under M Core, has acquired 9-73 St Stephens Street in the heart of Norwich city center, spanning 160,000 sq ft. The purchase was made through an agreement with an undisclosed pension scheme. This property includes retail units on St Stephens Street, Queens Road, and Surrey Street, along with office accommodations on Surrey Street. Evolve’s Founding Partner, Joe O’Keefe, said the acquisition presented multiple improvement opportunities, adding that it is already in negotiations to fill more than 65,000 sq ft of vacant space. “The site is fantastically located, in a busy part of the city centre, close to the bus station and the main shopping area.” “Our strategy is simple: we invest in our retail sites, making the necessary improvements to enhance them and make them more attractive to both potential tenants and to the local communities who use them.” Evolve boasts a substantial pipeline of retail acquisitions, aiming to surpass £300 million by the close of 2023. M Core, including Evolve Estates, has invested more than £160 million in 25 retail centers within the past year. Clarke Wilmott represented Evolve, while Prime Retail and JLL acted as agents during the acquisition process. […]

Frasers Group to combine offering at retail park

25th October 2023

Frasers Group is set to open a new superstore at Boucher Retail Park. The retail giant reportedly paid £40 million for the Belfast shopping asset in March 2022 and now plans to amalgamate a number of its brands into a single Frasers anchor unit. The purchase was made from Corbo Properties and houses major retailers like B&M, Superdrug, Greggs, Boots, Next, and TK Maxx. Frasers has been heavily investing in the Irish market, dedicating over 500,000 sq ft of retail space across various brands in the last two years. The deal marks Frasers Group’s first acquisition in Northern Ireland since it bought House of Fraser stores in 2018. This previous deal included the House of Fraser department store at Belfast’s Victoria Square Shopping Centre. The purchase underlines Frasers’ continued interest in physical retail spaces, expanding their presence in a key out-of-town retail destination.

Rituals makes Watford debut

24th October 2023

Rituals is continuing to expand to meet consumer demand, announcing its next location at Atria Watford Shopping Centre. Last month the cosmetics company announced its intention to open 25 stores in 2024, on top a further 10 stores before the end of 2023. The 10 stores include locations in East Midlands Designer Outlet, Ashford Designer Outlet in Kent, Belfast and Birmingham. Covering 1.4 million square feet, Atria Watford houses numerous brands and is owned by SGS, managed by Global Mutual. Steve Gray, Head of European Retail Asset Management at Global Mutual, was pleased with Rituals joining the center, enhancing the premium health and beauty brand presence. The new store is set to attract shoppers, especially as the festive season approaches.

Sephora announces second UK store location

24th October 2023

After a long hiatus Sephora returned to the UK in March 2023 with a 6,000 sq ft space in Westfield London. After surpassing sales expectations the retailer has confimed it’s second location. Sephora’s second store is set to open on November 15 at London’s Westfield Stratford City. Exclusive brands, including Adwoa Beauty, Relevant, STRAAND, Salt & Stone, and Naked Sundays, will be available alongside Sephora’s existing portfolio. According to Christopher de Lapuente, the head of LVMH’s selective retailing division, the store in White City exceeded expectations with sales 300% better than anticipated in the first eight weeks. The new Stratford location aims to replicate this success.

Merry Hill welcomes italian restaurant chain

24th October 2023

Merry Hill recently celebrated the opening of the UK’s largest ten-pin bowling center, Hollywood Bowl, offering 24 bowling lanes and an amusement arcade area. The scheme is adding to it’s leisure offering with the opening of a 3,350 sq ft ASK Italian this November. With over 65 restaurants across the UK since its inception in 1993, ASK Italian offers an array of antipasti, stone-baked pizzas, fresh pasta dishes, and a variety of vegetarian, vegan, and gluten-free options, always drawing inspiration from Italy. The restaurant will complement the vibrant dining scene, nestled between Bon Pan Asian Restaurant and the successful newcomer, wagamama. Jack Gordon, Senior Asset Manager at Sovereign Centros, expressed excitement about ASK Italian joining Merry Hill’s dining scene, following the successful launch of wagamama. He emphasized the area’s potential to introduce diverse food and entertainment experiences. Merry Hill is represented by JLL and Time Retail Partners, while ASK Italian negotiated directly.

Tapas restaurant debuts in Central London neighbourhood

23rd October 2023

Ukrainian-born Spanish concept Boca a Boca - a Spanish idiom meaning ‘word of mouth’ - is set to establish its first UK store in Fitzrovia, Central London.