Retail Property Deals

Devon hotel snapped up after 50 years of family ownership

26th July 2023

A Grade II listed hotel on the Jurassic coast has been purchased by an overseas investor after 50 years under family control. The four-star Hotel Riviera in Sidmouth, around 14 miles southeast of Exeter, houses 26 bedrooms, an 85-cover restaurant, a bar, and function suite. The property was marketed by Knight Frank with an asking price of £3.5m, after previous owners Peter and Dena Wharton prepare to retire from the hospitality industry. Knight Frank said the property had attracted interest from multiple buyers. Matthew Smith of Knight Frank’s hotel agency team, said: “Our clients have built up a very strong relationship with both their staff and guests, and the new owner will further enhance the hotel offering and continue with its philosophy which has proved so successful over the years.”

America’s Duck Donuts set for UK debut in Northern Ireland

25th July 2023

American doughnut chain Duck Donuts has signed an agreement to bring its concept to the UK for the first time. The concept has recently secured 11 franchise agreements for a total of 20 shops and a food trailer. This includes an agreement to bring four of its shops across the pond to Northern Ireland. This marks a European debut for the chain as well as a first opening in the UK. Founded in 2007 and headquartered in Pennsylvania, Duck Donuts first began franchising in 2013. It now operates four international stores and 126 franchise sites across the United States and Puerto Rico.

The Boulevard designer outlet welcomes retailer expansions

25th July 2023

A number of retailers at The Boulevard Designer Outlet in Banbridge, Northern Ireland, are set to expand their store footprints after signing new deals. Mountain Warehouse will be extending the size of its store to 3,552 sq ft as it adds the Animal surf brand, which it acquired in 2021, to its offering. Levi’s has also expanded, with the clothing brand recently moving to a 50% larger store in a more prominent location, while Toytown has also expanded to incorporate its baby and nursery range. The Boulevard said the signings represent a strong level of confidence in the scheme, which is run by asset manager Lotus Property. It added that a number of other brands are also set to announce leasing extensions in the coming months. Chris Nelmes, retail director at The Boulevard, said: “We are extremely encouraged by the steady stream of retailer expansions and investments at The Boulevard in recent times. Our stores have been recording excellent sales figures, many higher than the industry average thanks to the high volume of footfall from both northern and southern Ireland, a unique benefit given our convenient location on the main Belfast to Dublin motorway.” Alastair Coulson, managing director at Lotus […]

Greggs takes off at Gatwick

25th July 2023

Greggs has opened its first shop in a London airport at Gatwick’s South Terminal, as the bakery chain looks beyond the high street. The 1,600 sq ft shop is Greggs’ eighth airport location as it aims to hit its target of opening 150 net new stores in 2023. The Gatwick launch follows on from a number of recent openings in key UK transport hubs, including at Glasgow International Airport, Shepherds Bush Underground Station, and Canary Wharf Station. Located at the South Arrivals section of the airport, Greggs at Gatwick Airport will be open 24 hours a day and sell the chain’s full menu. Tony Rowson, property director at Greggs, said: “Our versatile shop formats, new digital channels and relationships with our franchise and wholesale partners have enabled us to adapt our offering and expand in many new locations such as supermarkets, shopping centres and key transport hubs, like the Gatwick Airport.”

Bloobloom to open on the King’s Road

24th July 2023

Bloobloom is set to open its latest store at Chelsea’s King’s Road in August. The French eyewear designer is set to open in a 400 sq ft store at No.33, as it continues its expansion across the UK. As well as the brand’s range of eyewear, the store will also offer customers walk-in eye examinations, adjustment and repair services, and style advice. The opening is the retailer’s fifth in London in 2023, bringing its total number of stores in the capital to seven. Abbas Manai, co-founder of Bloobloom, said the area is surrounded by the brand’s “ideal demographic” and described the King’s Road as “one of the most iconic streets for culture and fashion”.

KickX football makes Addlestone debut

24th July 2023

The “world’s first hybrid football arena” has opened its doors at AddlestoneOne in Surrey, marking a debut location for the leisure experience. KickX has been fitting out the 14,000 sq ft multi-storey venue at the Addlestone scheme, which is part of Runnymede Council’s plans to bring jobs and businesses to the south of the borough, for the past three months. The experience offers five different activities across 11 courts, including virtual reality, and will look to draw football enthusiasts in from across the South East. AS Retail are AddlestoneOne’s leasing agents. Andrew Shepherd, director, said: “We are absolutely thrilled to welcome KickX to the development. They have chosen Addlestone owing to its strategic location allowing them to reach football enthusiasts, families, community football clubs and schools across the region. Sitting alongside The Light Cinema, Nandos and Smith & Western they help consolidate AddlestoneOne as the leisure destination to visit in the region.” The Addlestone scheme will also be welcoming gaming café Geek Retreat at around the same time as the KickX opening. Opening in 2018, AddlestoneOne is home to the leisure centre as well as a cinema, a Premier Inn hotel, a small format Waitrose, and 214 residential apartments.

The North Face expands Regent Street flagship

24th July 2023

The North Face has agreed to expand its global flagship store on Regent Street, increasing its retail space at the store by a third. The outdoor clothing brand has signed a 10-year lease to bring the size of its Walmar House flagship to 10,000 sq ft. The North Face has traded at Walmar House since 2015. The Grade II-listed building is owned and operated by Great Portland Estates (GPE) and houses 56,500 sq ft of retail space across seven floors. GPE has also announced the signing of designer fashion brand JOSEPH, which has also signed for a Regent Street store at the nearby Kingsland House. It will become the brand’s sixth standalone London store. JOSEPH’s signing marks the completion of GPE’s retail repositioning at Kingsland and Carrington House, after TUMI, Russell & Bromley, Pret A Manger, and The Body Shop completed lease signings last year. Sarah Goldman, head of retail at GPE, said: “We’re delighted that two of our Regent Street properties have been selected as the location for these global stores. With footfall growing at our West End properties, and visitors to our capital on the rise, the expansion of The North Face and the presence of JOSEPH further boosts […]

Manchester Arndale welcomes UK’s largest Asian supermarket chain

24th July 2023

The UK’s largest Asian supermarket chain, Oseyo, is set to join Manchester Arndale, bringing Korean food and drink to the scheme. Taking a 12,580 sq ft unit on a 15-year lease, Oseyo will be opening its second Manchester store, having already established itself at Oxford Road. The supermarket will offer a range of Korean and Asian groceries and products, including snacks, sauces, and fresh produce. The signing of Oseyo continues a strong run of lettings at Manchester Arndale, which is overseen by joint asset managers M&G Real Estate and Global Mutual. Recent arrivals include Moss, Gilly Hicks, Nike, Manchester City, Clarks, Flying Tiger, MINISO, Tommy Hilfiger, Kick Game and Kurt Geiger. Oseyo will also join other new food and beverage offerings the scheme including Black Sheep Coffee, Krispy Kreme, and Slim Chickens. Steve Gray, head of European retail asset Management at Global Mutual, said: “We place great importance on creating a mix that caters to the city’s diverse taste and we are certain Oseyo will fit the bill. With such exciting leasing activity taking place it’s clear there is continued demand for well-placed retail units, and we are delighted to see confidence in Manchester Arndale’s long-term performance; we hope to […]

BOSS opens upsized Liverpool ONE store

24th July 2023

BOSS has opened its new-look space at Grosvenor’s Liverpool ONE, having announced its relocation and upsizing last year. The 13,500 sq ft store on Paradise Street represents an increase in size to 130% of its previous trading area at the Liverpool scheme. BOSS’s new Liverpool ONE store stocks the luxury retailer’s range of menswear and womenswear alongside seasonal collections, and offers made-to-measure services, click-and-collect facilities, and personal styling appointments. The retailer joins other premium brands on Paradise Street, including Charlotte Tilbury and Goldsmiths. Rob Deacon, senior asset manager, Grosvenor, said: “BOSS’s considerable upsize is another great endorsement of Liverpool ONE’s position as one of Europe’s leading retail and entertainment destinations. We are proud to welcome the brand’s new elevated store and to continue to home one of BOSS’s best-performing locations in its portfolio, further enhancing Liverpool ONE’s line-up of leading international brands alongside local independents.” The news follows the recent opening of Hollister and Gilly Hicks at Liverpool ONE, with the two Abercrombie & Fitch brands operating under the same roof in the city for the first time. The retailers will be joined by Red Run, which is set to launch its flagship store at the centre later this year. Metis and […]

Superdrug unveils largest North-West store at Trafford Centre

21st July 2023

Superdrug has opened its largest store in the North West at Manchester’s Trafford Centre. The 8,095 sq ft store was officially opened by TV personality Charlotte Dawson and represents a greater investment into the region by the beauty retailer. The store offers the retailer’s range of health and beauty products, including Superdrug’s new own-brand cosmetics line Studio London. It will also feature a ‘Beauty Studio’ area, which houses two nail bars and eyebrow threading and piercing services, as well as a fragrance counter. Simon Layton, centre director at Trafford Centre, said: “Superdrug is a much-loved high-street giant and extremely popular with our customers, so we’re delighted that the brand has invested in a new, larger unit. We’re sure visitors will be impressed by the stunning, new-look store and wowed by the impressive range of health and beauty brands on offer.”

Luxury Leisure completes line-up at Walsall scheme

20th July 2023

Luxury Leisure has signed a lease with Real Estate Investors (REI) agreeing to join a Walsall scheme and completing the line-up at the site. The gaming and slots provider has agreed to open in a 9,500 sq ft unit at 9-11 Park Street on a ten-year lease. The agreement is one of three recently secured by REI at the scheme, with leases also signed at 86 and 87 Bradford Street. Santander renewed its lease in December for a further five years, meaning the scheme is now fully let for the first time since REI’s purchase in November 2017. Jack Sears, asset manager at REI, said: “This deal was a long time in the making, since July 2021. It was subject to us obtaining vacant possession from the previous occupier and Luxury Leisure being granted the necessary licences from the local authority. “We are delighted to have agreed these three deals, and signed a new lease with Santander, given that retailing is Walsall at present and this really breathes some life into the local high street marketplace. “It also highlights the benefits of a well situated scheme at the prominent end of Park Street and Bradford Street.” Scott Robinson at Creative […]

Chipotle ‘pre-opens’ in Guildford

19th July 2023

Chipotle has ‘pre-opened’ its latest restaurant in Guildford, offering customers free food ahead of the official opening on Friday (21st). Customers will also be able to grab a free bite to eat on Thursday as part of an ongoing promotion. The Mexican restaurant concept agreed to join Redevco’s White Lion Walk shopping arcade earlier this year alongside bubble tea operator Mooboo. Opening in a 1,700 sq ft unit, Chipotle has taken over part of a former Next store which has been divided up into multiple units. Redevco has invested £8m into the development, which will see the creation of a number of offices on the upper floor above the arcade’s ground floor retail offering. Other operators at White Lion Walk include Starbucks, Robert Dyas, and The Works.