Retail Property Deals

The Caviar Bar to debut at Medici Courtyard

10th October 2023

The Caviar Bar is set to open its debut location at Great Portland Estate’s (GPE) Medici Courtyard development, near Mayfair’s Hanover Square. Taking a 700 sq ft mezzanine unit, the seafood restaurant will offer a day-to-night dining experience, as well as a retail element for customers to purchase produce to be enjoyed off-site or given as gifts. As well as a selection of caviar, the restaurant will offer oysters, sushi, small plates, and seafood platters, whilst the drinks list will comprise a selection of wines, champagne, and premium sprits. The Caviar Bar will join the mixed-use Hanover Square development later this year, one of the first public courtyards to open in Mayfair in over a century. It will join a number of premium names at the development including Bang & Olufsen, Canali, Pronovias, Opera Gallery, Seiko, and Moyses Stevens, as well as WatchHouse coffee house and The MAINE restaurant, which are located in the heart of the newly-created Medici Courtyard. Sarah Goldman, head of retail at GPE, said: “Adding The Caviar Bar to our retail offering within Hanover continues to establish Medici Courtyard as a luxury retail and dining destination, on the doorstep of Bond Street and the Elizabeth Line […]

Greggs opens first café inside Sheffield Sainsbury’s

9th October 2023

Greggs and Sainsbury’s have deepened their partnership with the launch of the first Greggs café within a Sainsbury’s store, located at Sainsbury’s Crystal Peaks in Sheffield. The café, open from 7am-7pm Monday to Saturday and 10am-4pm on Sundays, marks the third collaboration between Greggs and Sainsbury’s after a successful venture on a petrol forecourt in May. Customers at Sainsbury’s Crystal Peaks can now enjoy a selection of Greggs’ favorites, such as sandwiches, bakes, Fairtrade coffee, and sweet treats, with the option to dine in or take away. The partnership plans to expand further by the end of the year, introducing more locations, including petrol filling stations and cafés. Tony Rowson, Property Director at Greggs said: “Our first Greggs café with Sainsbury’s is helping us continue to expand and diversify our retail estate as part of our ambitious property strategy. The opening will allow us to provide Greggs favourites to even more customers, in a format that complements Sainsbury’s Crystal Peaks store.”

The Lexicon strengthens F&B offering

9th October 2023

The Lexicon, owned by Schroders Capital and Legal & General, has secured a string of new leases strengthening its offering. These new arrivals have taken up a total of 23,500 sq ft of space, bringing the centres occupancy rate to 94%. Giggling Squid leads with a 4,750 sq ft outlet, followed by Danish retail chain Søstrene Grene, ChopStix, German Donner Kebab, Tortilla and Robert Dyas who have set up shop on Braccan Walk. American burger chain Five Guys and Mr Simms Sweet Shop have also joined the lineup, making The Lexicon thier first Berkshire location. Tom Woolven, Asset Manager at Schroders Capital’s Real Estate team, said: “The new recent lettings, along with several exciting new arrivals due to be announced later this year, combined with the plans to further enhance the centre and a host of regular community events will ensure The Lexicon remains a thriving retail destination which continues to attract people from across the Thames Valley and beyond.”  

The Breakfast Club to join Covent Garden

9th October 2023

The Breakfast Club, renowned for its all-day breakfast offerings, is due to open this autumn in an 894 sq ft unit at 55 Neal Street in Covent Garden‘s Seven Dials this autumn. The menu will showcase ‘Caf Classics’ including famous pancake breakfasts, and a variety of Benedicts. As part of the brands commitment to the local community, The Breakfast Club hosts ‘Get-Togethers’ with local groups and charities like Age UK to combat loneliness and isolation. Jonathan Arana-Morton, CEO & Founder of The Breakfast Club, expressed excitement about this new venture in Covent Garden: “This will be such an exciting opening for us – The Breakfast Club has always called the West End home, and our new Covent Garden location couldn’t be more perfect for our next adventure; it is a fabulous place and community.” This announcement adds to a series of F&B developments in Covent Garden, including the opening of Story Cellar by Michelin-starred chef Tom Sellers in Neal’s Yard and the upcoming launch of Notto, a pasta bar concept by renowned British chef Phil Howard, on Henrietta Street this autumn.

Body Shop bidders offput by £500m valuation

6th October 2023

Natura & Co, owners of The Body Shop, has valued the brand at £500m, potentially deterring the private equity bidders considering the purchase, Retail Week has reported. A source close to negotiations has explained: “The price of £400m to £500m is very optimistic given the business is going through a lot of transformation and is in need of major operational improvements.” Natura & Co announced the potential sale of the retailer in August 2023 after it’s failure to revive its finances post-pandemic. The beauty brand more recently reported a 11.6% decrease in net sales for the second quarter of 2023. In 2017, Natura originally acquired The Body Shop from L’Oréal in a deal valued at €1bn (£864m). Lloyds Pharmacy owners Aurelius Group, Epiris and Elliot Advisors are still in the running for the take over. The Body Shop owner has given interested parties until October 23 to submit their offers.

HOKA opens first European store at Covent Garden

5th October 2023

Activewear brand HOKA has opened its first store in Europe at London’s Covent Garden. The 1,750 sq ft flagship store at 2-3 James Street will offer the brand’s full line of footwear, apparel, and accessories under one roof for the first time. HOKA, which is a division of Deckers Brands, launched in 2009 and looks to disrupt the running industry. The Covent Garden store unveils the brand’s new concept for the first time, blending a mixture of modern designs and natural elements, whilst the interior features interactive displays. A dedicated community space on the ground floor looks to connect consumers with HOKA ambassadors, athletes, and product experts. The space offers yoga classes, wellness services, equipment repair, local events and runs, educational talks, workshops, and panel discussions. Michelle McGrath, executive director at Shaftesbury Capital, which owns Covent Garden, said: “We are delighted that HOKA has chosen Covent Garden for their European debut and flagship location, showcasing their innovative and industry-disrupting performance wear. Covent Garden is one of the richest and most diverse shopping and dining destinations in London with an experience-led approach to retail and hospitality, and a strong line-up of global, British, and independent brands.” Stefano Caroti, chief commercial officer,...

Lane7 opens largest venue yet at Bullring & Grand Central

5th October 2023

Boutique bowling concept Lane7 has opened its largest venue yet at Hammerson’s Bullring & Grand Central in Birmingham. The 28,000 sq ft space can accommodate up to 1,000 visitors and features the brand’s widest offering including bowling, darts, floor shuffle, curling, ping pong, pool, and karaoke. The venue is also home to a rooftop terrace bar with a view across the city centre. Hammerson said that Lane7’s arrival reflects its strategic focus on placemaking through the introduction of new social and entertainment brands alongside events and market firsts. Located on Link Street, which connects Bullring to Grand Central, Lane7 joins other leisure operators at the scheme including the recently opened Sandbox VR, with Treetop Adventure Golf and TOCA Social set to open next year. Other brands set to open at the scheme in the run-up to Christmas include Nike, M&S, Bershka, Pull&Bear and Watches of Switzerland. Toby Tait, director of asset management, Hammerson, said: “The opening of Lane7 is another important step forward in Hammerson’s evolution of Bullring & Grand Central bringing to life our ‘destination’ with innovative entertainment, leisure and social experiences that engage and excite new audiences and drives footfall. This new bowling concept further strengthens our offer […]

Fareham Shopping Centre snapped up by council

4th October 2023

Fareham Borough Council has purchased the town’s shopping centre and a number of adjoining properties for £14.25m from Madone. The acquisition of Fareham Shopping Centre forms part of the council’s wider regeneration programme, which includes £16.7m for Fareham Live and £2.5m to replace a multi-storey car park on Osborn Road. Fareham Borough Council said the acquisition enables it to “provide stability and reassurance” to tenants, with the aim of working with them and other partners to develop a new strategy for a more vibrant town centre.  Asset managers RivingtonHark has been appointed by the council to advise on strategic direction and improvements to the shopping centre, whilst day-to-day management will continue to be delivered by Munroe K. Councillor Seán Woodward, executive leader of Fareham Borough Council, said: “Purchasing the shopping centre presents a unique strategic opportunity for the council to take control of key assets at the heart of the town centre at a time when we are developing a new strategy to transform the current offer and enhance its appeal.   The unprecedented levels of funding we are injecting into this area underline the significance we place on having a vibrant, economically successful town centre and send a clear signal […]

JD Sports opens regional flagship at Epsom’s Ashley Centre

4th October 2023

JD Sports has opened its regional flagship store at the Ashley Centre in Epsom. The sports fashion retailer has taken a 4,453 sq ft store on the scheme’s ground level near the central square, offering a range of clothing, footwear, and accessories. Louisa Butters, head of retail asset management UK at scheme landlord CBRE Investment Management, said: “The unveiling of JD is reflective of our commitment to the refurbishment plans for the scheme and is a significant regional launch for the Ashley Centre. This new flagship store is just one of a number of new openings we have welcomed in the past six months, especially targeted to enhance the customer experience and is part of our ongoing strategy for the destination.” CBRE Investment Management is currently undertaking a £5m refurbishment programme to revitalise the Epsom scheme. It said the expansion of its retail offer, led by JD Sports, is a key milestone for the project which is due to be completed by the end of the year. JD Sports joins GAIL’s Bakery as a recent entrant to the scheme, which hosts brands including Deichmann, Monsoon and NEXT. GCW and Cushman and Wakefield represent the Ashley Centre, whilst JD Sports represented […]

Goldsmiths doubles Liverpool ONE presence with biggest ever showroom

4th October 2023

Goldsmiths has opened its largest showroom to date after doubling its presence at the Liverpool ONE shopping centre. The watch and jewellery retailer has opened a two-storey, 13,000 sq ft store on Paradise Street, bringing the Goldsmiths Luxury concept to Liverpool for the first time. The new Liverpool ONE store features a premium hospitality bar and lounge area as well as VIP consultation rooms and repair services. Its showroom has also undergone a significant expansion, spanning across two floors with an elevated prominent frontage. Goldsmith’s new concept features a dedicated entrance for the Rolex boutique, whilst the main showroom also features designated areas for watch brands including Cartier, TUDOR, TAG Heuer and Zenith, as well as jewellery brands FOPE, Messika, and Roberto Coin. The Watches of Switzerland Group-owned brand joins a number of names that have committed to Liverpool ONE, with BOSS’ relocation and 130% upsize earlier this year as well as Hollister’s upsize and relocation. Rob Deacon, asset management director at Grosvenor, said: “Liverpool ONE continues to attract prominent UK retailers, and the recommitment of premium names such as Goldsmiths further establishes the scheme as one of Europe’s leading retail and entertainment destinations.” The opening at Liverpool ONE follows...

Dalata acquires Edinburgh hotel development site

4th October 2023

Ireland’s largest hotel operator Dalata Hotel Group has acquired a development site at 26 St. Andrew Square in Edinburgh. The site – located in Edinburgh’s New Town – sits adjacent to top luxury shopping destination Multrees Walk and is situated nearby to Edinburgh Waverley train station. The development site was acquired for a total consideration of £12.5m from Aviva Life & Pensions UK, which was paid from Dalata’s existing cash and banking facilities. It comprises a vacant Category A listed building which is currently approved for office use, with planning permission granted for an extension to the rooftop and rear of the property. Dalata intends to submit a revised planning application in the first quarter of next year to enable the construction of a new 4-star Clayton Hotel, which is expected to be completed by the middle of 2026. Subject to a successful revised planning application, the hotel will comprise 153 bedrooms, a bar, restaurant, a gym, and two large meeting rooms on the first floor overlooking St. Andrew’s Square. The overall investment in the project, including the site purchase, will be around £48m. Dalata is also set to enter the hotel market in the Netherlands after acquiring the leasehold […]

Marketgate welcomes Mountain Warehouse amid flurry of lettings

4th October 2023

Mountain Warehouse has agreed a deal to join Marketgate in Lancaster, as the scheme completes a number of lettings. The specialist outdoor retailer has signed a 10-year lease for a 3,529 sq ft unit at 17-19 Market Street. Mountain Warehouse’s new store will feature outdoor clothing and equipment, as well as its Animal branded coastal fashion and accessories range. The Lancaster scheme has also signed Poundland to replace the former 22,000 sq ft former New Look store, with the retailer agreeing a 10-year lease and upsizing from its existing store in the city. New leases have also been agreed with existing tenants, Meet the Makers and Designer Clearance, with both retailers committing to longer lease terms after a year of good trading. Marketgate will also welcome Sushi restaurant and takeaway Sushi Cat, which has taken a six year lease. It will join the scheme’s existing food and beverage offering including Caffé Nero and local restaurant Vincenzo’s.