Retail Property Deals

JD Wetherspoon takes former ticket office at Fulham Broadway

18th October 2024

CBRE Investment Management have agreed a lease with JD Wetherspoon for a new public house at Fulham Broadway. The pub operator has taken the Grade II-listed former ticket office at 472 Fulham Road – which forms part of the Fulham Broadway Shopping Centre – on a 30-year lease. The new pub will be named ‘Walham Green’, paying homage to the original name for Fulham Broadway underground station. The original ticket bar will be retained as a feature in the new bar. The building comprises 7,330 sq ft at ground floor level with 2,196 sq ft at first floor level, including a roof terrace. JD Wetherspoon is expected to open the new pub early next year. GCW acted for CBRE Investment Management.

Reiss makes south west outlet debut at Gloucester Quays

17th October 2024

Reiss has opened its first-ever outlet store in the south west of England at Gloucester Quays. The affordable-luxury fashion retailer has taken a 1,800 sq ft unit, located opposite The North Face and adjacent to Skechers. The store offers the brand’s collections of men’s, women’s, and children’s clothing, including formalwear, knitwear, and suits and tailoring. Reiss joins a number of other fashion brands at Gloucester Quays, including M&S, Hobbs, Phase Eight, and Next. Paul Carter, asset director at scheme owner Peel Retail & Leisure, said: “Gloucester Quays is a top 10 UK outlet, and that status means we have a responsibility to house a diverse blend of top-quality retail and leisure. Reiss’s entrance to the scheme is a case-in-point of this commitment; it delivers a strong identity and trademark premium ranges, and the brand clearly believes in how Gloucester Quays can deliver for them in the region with this debut site.” Reiss’ arrival follows the recent opening of Berghaus at Gloucester Quays, with the brand having opened its second standalone store in the UK.

Sephora to continue northern expansion with Liverpool ONE store

17th October 2024

Sephora is looking to continue its expansion across the north of England, with the retailer set to open at Grosvenor’s Liverpool ONE shopping centre next spring. The beauty specialist will take a 6,727 sq ft unit at an entrance to South John Street, offering a range of products across makeup, travel, fragrance, skincare, haircare, grooming, and wellness. The store will become the brand’s eighth in the brand’s growing UK portfolio, which includes stores in Westfield London, Westfield Stratford City, Manchester’s Trafford Centre, Newcastle’s Eldon Square, and Gateshead’s Metrocentre. This winter, the brand will also be opening stores in Birmingham Bullring and Bluewater in Kent. Sarah Boyd, managing director of Sephora UK, said: “By the end of this year, we will have opened seven stores in five regions, and I’m thrilled to share that our regional expansion will continue in 2025, with the first new store opening of the year at Liverpool ONE. We have had immense demand from our fans in Liverpool to open a store in their city, and we are excited to open one in a city that embodies a remarkable energy and boasts a rich and vibrant history that resonates with our brand values. “Liverpool has been a key […]

Mint Velvet makes city debut at Centre:mk

17th October 2024

Mint Velvet has opened its first store in Milton Keynes at the Centre:mk shopping centre. The womenswear retailer has taken a 2,100 sq ft space within Silbury Arcade, offering its range of clothing, accessories, and footwear. Mint Velvet joins a number of other womenswear retailers at Centre:mk, including premium brands such as Reiss, Jigsaw, Phase Eight, and The White Company, as well as leading names in fashion, Mango and H&M. Kevin Duffy, centre director at Centre:mk, said: “With a large affluent catchment area, this new Mint Velvet’s Boutique is a welcome addition to our premium offer which further enables us to cater to our customers’ demand for premium womenswear. The opening of Mint Velvet’s city debut reflects the brand’s confidence in our centre and further reinforces centre:mk’s status as a leading UK shopping destination in the region and beyond.” The opening of Mint Velvet at Centre:mk follows the recent announcement that beauty retailer Space NK will join the scheme in November, also making its debut in Milton Keynes.

Former Peterborough Beales department store sold for £4m

17th October 2024

A former Beales department store in Peterborough has changed hands for a total consideration of £4m. The property – at Westgate House, 26-38 Westgate – has been acquired by a subsidiary of Bravo Capital from Panther Securities. The asset comprises 138,977 sq ft of space within a large, predominantly detached, department store building arranged over basement, ground, first, and second floors. Planning consent to transform the building into a mixed-use development comprising shops, offices, and 125 residential units has already been obtained. Panther Securities said the property currently produces “negligible” income and its main trading tenant’s letting is on flexible terms and is mainly in place to help mitigate holding costs. The £4m purchase price represents an increase of £1,410,000 on the current book value for the property, which was last independently revalued at £2,590,000 by Carter Jonas on behalf of the Panther Securities’ lenders as at July 2023. The purchase will be facilitated through an upfront payment of £3m, with the remainder to be paid across two £500,000 payments made nine and 18 months after the deal’s completion. Panther Securities said the funds it received from the sale will be initially held for future property investment which has yet to […]

Beauty brand to open new store at Liberty Romford

16th October 2024

Beauty and wellbeing brand Rituals is set to open a new store this November at Redical’s The Liberty, Romford. Located within the heart of the shopping centre overlooking Liberty Square, the brand’s new 2,590 sq ft unit – comprising 1,162 sq ft of trading space – will benefit from The Liberty’s position as a dominant London satellite shopping centre. The wider scheme is home to 120 brands in total including Primark, H&M, M&S, Flannels, JD Sports, Footlocker, and Next. Oliver Lloyd, leasing director at Redical, said: “Over the last six months, The Liberty Romford has showcased to the market that we’re serious about unlocking the destination’s full commercial potential, and Rituals’ signing is a milestone moment in our strive for this. To have a best-in-class brand commit to the destination showcases the advancements The Liberty Romford is making to elevate and evolve our retail offer, providing a quality of choice for our visitors and solidifying our position as the number one satellite shopping centre in London and dominant scheme in Romford. Rituals will be the first of many exciting brands to join the scheme and we’re delighted to welcome them.”

McDonald’s signs for Dockside Chatham as long-standing tenant relocates

15th October 2024

McDonald’s is set to join Dockside Chatham, as part of an ongoing asset management strategy to enhance the retail and leisure offer at the Kent scheme. Scheme owners WD Chatham have agreed a 25-year lease with the fast food restaurant to take approximately 5,000 sq ft of space opposite the recently-opened Wagamama and Zizzi restaurants. McDonald’s will take the unit formerly occupied by long-standing tenant, Choice Discount Stores, which itself has relocated to a new 9,000 sq ft unit adjacent to anchor retailer The Range. The new store location will enable Choice Discount Stores with an improved, larger environment to showcase their range of fashion and homeware products. Anthony Sutton, centre manager at Dockside said: “Both the McDonalds and Choice deals are a real testament to our commitment to Dockside and the broader Chatham Maritime project. We cannot wait to see them open their doors.” Two new units are also being created alongside McDonalds, with leasing discussions “progressing well”. WD Chatham also said it is in advanced discussions to deliver new retail brands and some additional experiential leisure activities to Dockside. The group is looking to transition the centre from its historic outlet focus into becoming a regional retail and […]

Sports Direct to open 40,000 sq ft store at Trafford Palazzo

15th October 2024

Frasers Group’s Sports Direct is set to open a new store at Trafford Palazzo, after agreeing a long-term lease at the Manchester scheme. Thee sporting retailer’s store – which is set to open in early 2025 – will span 40,000 sq ft across two floors and be located at the entrance to the link bridge that connects to The Trafford Centre. Sports Direct at Trafford Palazzo will offer products from leading brands such as Nike, Adidas, Puma, and ASICS. It will also feature specialist sporting areas for running, football, and outdoor, as well as products from brands in the wider Frasers Group ecosystem including USC, GAME and Jack Wills. Mark Whittaker, managing director at scheme owner Peel Retail & Leisure, said: “This is a significant signing for Trafford Palazzo and a brand that continues to have real pull with consumers. Through a clear strategy of transforming Trafford Palazzo into a destination that delivers experiences as well as selective shopping, we have secured a unique mix of occupiers who are delivering flagship and new concept stores, which in turn is boosting our visitor numbers. “Our vision is to attract best in class operators, and we have no doubt Sports Direct’s new concept will […]

TFG London to open largest-ever flagship store at Liverpool ONE

15th October 2024

Fashion retail group TFG London is set to open its largest-ever store at Liverpool ONE. The group – which owns fashion brands Hobbs, Phase Eight, and Whistles, as well as homeware retailer Inside Story – will open a 12,000 sq ft store on South John Street next spring. The flagship store will see a return of all four TFG brands to Liverpool as well as their full collections. This includes Hobbs’ selection of luxury fashion, Phase Eight’s occasionwear ranges, and Whistles’ line-up of contemporary womenswear. It will also feature an Inside Story homewares department, offering soft furnishings and home accessories. Caraline Money, global retail director of TFG, said: “We are thrilled to be returning to Liverpool with our new multi-site flagship store which will house Hobbs, Whistles, Phase Eight and Inside Story all under one roof. Our new store strategy is focused on opening bigger and better stores in prominent shopping destinations like Liverpool where we have built a loyal ever-growing customer base. The new store will enable us to showcase our full collection such as petites and bridal, offering our customers the complete head-to-toe outfit suggestions for every occasion in our beautiful, enhanced store environment.” The signing of TFG London at […]

Duo of brands to make city debuts at Manchester Arndale

14th October 2024

Cosmetics brand BPerfect and sportswear brand Castore are set to join Manchester Arndale shopping centre, opening their first stores in the city. Castore has taken a 10-year lease for 1,072 sq ft store, whilst BPerfect will take 2,000 sq ft on a five-year lease. Founded in Manchester in 2015, Castore is a leading figure within the sportswear industry, having signed manufacturing deals with the likes of Red Bull Racing, McLaren F1, and the England cricket team. The store will offer the brand’s range of sporting attire as well as branded merchandise. BPerfect is a Northern Irish cosmetics brand founded in 2012. The brand featured on Dragon’s Den in 2017 – where it secured two offers – and offers a variety of makeup, tanning, and beauty products. The brand is stocked in over 2,700 stores across the UK, Ireland, and worldwide. The new Manchester location will be BPerfect’s first megastore in England, adding to a portfolio which includes stores in Belfast, Dublin, and Glasgow. The signings follow the recent announcement that South Korean beauty and skincare retailer PURESEOUL and mattress specialist Emma Sleep will be joining Manchester Arndale, also making their debuts in the city. Scott Linard, portfolio manager for M&G Real...

Harvey Norman opens debut English store at Merry Hill

14th October 2024

Harvey Norman has opened its first location in England with a new flagship store at Merry Hill in Dudley. The lifestyle, technology, and home appliance retailer’s 57,000 sq ft space offers its range of furniture, including sofas, dining sets, bedroom suites, and mattresses, as well as smaller items including kitchenware. The store also offers a variety of home appliances, technology, and entertainment from brands such as Dyson, Shark, Apple, Samsung, LG, Miele, and Sage. It also features a dedicated cooking appliance centre, specifically designed for the Merry Hill store. The internationally-renowned Harvey Norman joins over 100 brands that have committed to Merry Hill in a little over two years. Graeme Jones, executive director at Sovereign Centros from CBRE, on behalf of Merry Hill, said: “The arrival of Harvey Norman exemplifies the transformation of Merry Hill over a number of years, going from a centre struggling with vacancy to one that is thriving. Delivering and retaining the right anchors has been key to that – most of our big brands now count Merry Hill as a top 10 performing store nationally, so finding something for this space that could take the destination to the next level has been the focus. We […]

PURESEOUL opens at Bullring amid boost in heath and beauty sales

11th October 2024

Korean beauty brand PURESEOUL has opened at Hammerson’s Bullring & Grand Central in Birmingham, as the scheme sees a boost in health and beauty sales. The retailer has made its Midlands debut, opening only its second store outside of London on Bullring’s middle level. The 800 sq ft unit stocks over 900 different products across make-up, skincare, and haircare, and offers personalised skincare advice from staff specialising in Korean beauty. The opening comes as health and beauty transactions at Bullring & Grand Central have jumped by 26% year-on-year. In July alone, sales in the category increased by 69% compared to the same period in 2023, making it the best performing category at the scheme. This comes as other health and beauty brands at the centre such as Rituals, Jo Malone, and L’Occitane invested in new cosmetic lines and customers purchased more self-care products. Katy Letch, head of leasing UK at Hammerson, said: “From the all-encompassing luxury experience at Selfridges, premium wellness brands Kiehl’s and L’Occitane, to household names such as Boots and MAC, Bullring & Grand Central is the home of health and beauty in Birmingham. Customer appetite for beauty and wellbeing products reflects the demand we are seeing from...