Retail Property Deals

Elephant Park welcomes trio of independent operators

7th February 2024

A trio of independent operators have signed for Lendlease’s mixed-use Elephant Park neighbourhood in South London. Asian street food concept NOKO has signed for a 1,710 sq ft restaurant at Elephant Park’s casual dining zone, Sayer Street. This will become NOKO’s second location – joining a site in Camberwell – and will serve a fusion of Japanese, Chinese, and Korean inspired cuisine. Also joining Elephant Park is Venezuelan all-day eatery Arepa & Co, which will open at the neighbourhood’s lifestyle hub Ash Avenue. Its fifth location in London, the 2,000 sq ft restaurant will serve traditional sweetcorn cachapas, cornbread arepas, and small plates to up to 100 customers, including 25 outside. Meanwhile, independent food market Kiki & Miumiu has launched its upsized store on Walworth Road. The retailer has more than doubled its presence at Elephant Park – where it has already spent two years – to 4,745 sq ft. Guy Thomas, head of retail and place assets at Lendlease, said: “As a thriving, community-focused London neighbourhood, it is important for us to bolster Elephant Park’s blend of independent operators, to the benefit of our local area. NOKO, Arepa & Co, and Kiki and Miumiu were all born out of […]

Aldi to take former Wilko unit at Fulham Broadway

7th February 2024

Aldi is set to open at Fulham Broadway Retail Centre, after taking a 20-year lease for a 12,734 sq ft unit formerly occupied by Wilko. The signing follows a transformative year for the scheme, which saw investment from asset manager CBRE IM and a number of new additions to the centre’s line-up. The supermarket retailer will join other recent arrivals at Fulham Broadway including flexible workspace Fulham Works by Spacemade, and David Lloyd Clubs. Other retailers at the scheme include Accessorize, Nando’s, Vue, Pret a Manger, Starbucks, and Wagamama. Aldi is expected to open later this year. Louisa Butters, head of retail asset management UK at CBRE IM, said: “Aldi is one of the biggest supermarkets in the UK and its new store at Fulham Broadway reflects our strategy to ensure that our proposition is relevant to our consumer needs. We believe Aldi is an excellent addition to our retail mix and we look forward to welcoming them.” GCW represented CBRE IM, whilst Stripe Street acted for Aldi.

MINISO to open largest UK store in Camden

6th February 2024

MINISO is set to open its latest London store in Camden, and its largest yet in the UK. Spanning 4,110 sq ft, the new store on Camden High Street will open on 14 February and become the Chinese lifestyle retailer’s 26th store in the UK. The Camden store will stock a range of homeware, accessories, as well as MINISO’s newly-launched beauty and self-care line. MINISO UK chief operating officer Saad Usman said: “At MINISO, the unveiling of our Camden store signifies a momentous step in our journey, driven by our belief that ‘Life is for Fun.’ “Our store goes beyond the typical retail environment; it stands as a vibrant hub of joy, creativity and all things cute.” In November, MINISO opened a 3,200 sq ft store at 100 Oxford Street on a five-year lease, which became its 23rd nationwide.

Mediterranean restaurant to open second London site in Fitzrovia

6th February 2024

Mediterranean restaurant concept Carmel is set to open its second location in London, after agreeing a 15-year lease for a 95-seat restaurant in Fitzrovia. Located at 7-8 Market Place, the restaurant will comprise over 5,000 sq ft of space and is set to feature an open kitchen, a bar, and ‘The Green Room’, which will seat up to 30 guests in a naturally light space surrounded by greenery. There will also be an outdoor terrace which will accommodate up to 38 guests. Carmel in Fitzrovia will join the brand’s existing location in Queen’s Park, whilst the restaurant’s parent group also operates sister brands Berber & Q and Shawarma Bar in East London and Exmouth Market respectively. Savills advised the landlord, Woven Spaces, on the deal. Josh Leon, director in restaurants and leisure at Savills, said: “Market Place is a fantastic spot just next to Oxford Circus with a critical mass of restaurants and outside seating. Woven Spaces have recently taken ownership of several units on the street and Carmel will be the first step in their exciting plans for the area, with another restaurant becoming available soon.” Adriana Paice Kent, director of Woven Spaces, added: “Woven Spaces are delighted to welcome Carmel […]

Hobbs to open new stores following closures

6th February 2024

Hobbs is set to open in a number of new locations, despite the recent closures of some of its stores. The fashion retailer will open seven new stores this year, including in Watford, Canary Wharf, and at the Trafford Centre in Manchester, The Times has reported. This comes despite recent closures in London’s Bloomsbury, Victoria, and Islington. The retailer is also planning to expand its international footprint, with openings lined up in Hong Kong, Cork, Hamburg, and Westchester, New York. TFG London, which owns the Hobbs brand alongside Phase Eight and Whistles, recently recorded a strong financial performance for the year ending 25 March 2023, despite a “challenging economic background”. The group revealed its pre-tax profits had more than doubled to £6.2m during the year, up from £2.97m. Sales also increased by 8.9% year-on-year to £377.7m.

Liverpool ONE welcomes two restaurant operators for city debut

6th February 2024

Grosvenor’s Liverpool ONE shopping destination has welcomed the arrival of two restaurant concepts, The Real Greek and The Botanist, for their debuts in Liverpool. Opening on Paradise Street, The Real Greek’s 3,900 sq ft restaurant caters to 200 diners in total and offers Greek classics such as meze, Souvlaki wraps, and salads. Meanwhile, The Botanist’s 6,400 sq ft restaurant has opened at Liverpool ONE’s leisure terrace on Chavasse Park, joining Loretta’s Parkside Tavern and the soon-to-open Flight Club. The restaurant offers a mixture of lighter dishes, classic bar meals, as well as unique cocktails. Rob Deacon, director of asset management at Grosvenor, said: “Liverpool ONE continues to be the destination of choice for popular and established UK brands to launch in the city. The Real Greek and The Botanist each offer something a little different, and that’s reflective of our strategy to ensure a diverse range of food, entertainment and leisure opportunities at the destination, providing more choice for the sustained demand we have seen at Liverpool ONE.” The arrivals follow the news that Liverpool ONE has seen its strongest start a year in over half a decade, with a 9% year-on-year increase in visitor numbers during the first three...

Vue to take former Basildon Empire cinema

5th February 2024

A former Empire cinema in Basildon is set to house a new tenant, with Vue entering formal discussions with the council to take over the property. Basildon Council began marketing the property in Summer 2023 with leading UK cinema operators invited to submit an offer. A final offer from Vue has now been received, with the cinema operator submitting an application to update the cinema’s signage. East Square, where the cinema is located, is also home to Kaspa’s Desserts, Nando’s, and Orleto Lounge. Councillor Craig Rimmer, cabinet member for economic stimulus and tourism said: “I know residents and cinemagoers have been waiting patiently for news on the scheme and it is fantastic to get this project moving again.   “I can’t wait to see the new sign go up while we continue our negotiations. ”  A Vue spokesperson added: “We can confirm that we are in formal discussions with Basildon Council regarding a new lease at East Square to bring The Ultimate Big Screen Experience to the area. We look forward to being able to share more information in due course.”  Previous occupier Empire Cinemas collapsed into administration last year. Fellow cinema chain Everyman has also acquired former Empire sites in […]

Bracknell’s The Lexicon to welcome three new operators

5th February 2024

The Lexicon in Bracknell is set to welcome a trio of new tenants, building on a successful 2023 at the scheme which saw an increase in spending and footfall. Bar and café chain Lounges will occupy a 3,400 sq ft space at The Lexicon, whilst Amorino, the international gelato and dessert brand, and ProCook, the kitchen and dining ware retailer, will also be joining the scheme. Meanwhile, jewellery retailer Beaverbrooks – which has been a tenant at The Lexicon since the scheme’s opening in 2017 – will upsize by 1,650 sq ft to create a new 3,350 sq ft flagship store. The new leases bring The Lexicon – which is owned by a joint venture between Schroders Capital and Legal & General Capital – to 95% let. The signings also follow a 2023 which saw a number of new operators open at the scheme. Last year, The Lexicon welcomed the likes of Thai eatery Giggling Squid, which opened a 4,750 sq ft restaurant, as well as Danish retailer Søstrene Grene and homeware store Robert Dyas. Elsewhere at the scheme, American burger chain Five Guys opened a 3,500 sq ft outlet, its first restaurant in Berkshire, whilst Pan-Asian eatery Chopstix made […]

Starbucks set to join Altrincham’s Stamford Quarter

2nd February 2024

Starbucks is set to open a new branch at Altrincham’s new retail, leisure, and workspace destination, Stamford Quarter. The international coffee shop brand has agreed to take a 1,708 sq ft unit on the ground floor of the Foundation building. It will sit alongside three other brands including independent bowling alley and entertainment venue Lane7. The announcement follows a successful 2023 for Stamford Quarter, with visitor numbers rising by 5% year-on-year. The Foundation building which will host the Starbucks store is set to be completed by this summer. James Tootle, head of retail and leisure at property group Bruntwood, said: “We’re delighted that Starbucks has chosen Foundation for its new home on the high street. A brand that is as globally popular as Starbucks is a fantastic bedrock for the Foundation community – one which will be made up of an exciting mix of independent and national brands. It will be a vibrant workspace community which integrates and supports the hospitality offering with amenities that benefit the immediate area and the wider town. As work gathers pace on Foundation and Stamford Square, we’re looking forward to making more announcements soon.” Councillor Tom Ross, leader of Trafford Council, added: “We are totally committed to […]

Karma Kitchen launches sixth site and secures first partner

2nd February 2024

Commercial kitchen operator Karma Kitchen has opened its sixth site in Wimbledon, South West London, and has secured a first partner for the location. Spanning 14,682 sq ft with 26 units, the space looks to offer flexibility and scalability to food and beverage operators, at a lower price than a traditional space. The site has already secured McDonald’s as its first tenant, which has taken a 2,000 sq ft delivery kitchen. This follows the fast food giant’s opening of a delivery kitchen at Karma Kitchen’s Bermondsey site in March 2023. This news comes as Eccie and Gini Newton, co-founders of Karma Kitchen, were recently named by trade publication Business Leader as part of the ‘Top 32 Serial Founders’. They said: “Wimbledon represents another major milestone for us. It continues our growth within carefully selected sites, those that work to support not only the business development of each of the brands that sign here, but also give us the best opportunity to improve the welfare of their employees. We are excited to welcome operators to our new Wimbledon location, bringing Karma Kitchen to a new area of the capital to create success for the brilliant people and businesses that really make...

Local retailer opens at Festival Place following successful pop-up

2nd February 2024

A local independent retailer has opened permanently at Sovereign Centros’ Festival Place, following the success of its pop-up store at the Basingstoke scheme. Homeware and gifts retailer Fig & Fox has taken a 1,790 sq ft space – which is 50% larger than its pop-up store which ran at the end of 2023. Fig & Fox – which was founded by couple James and Helen Mitchell – offers a range of independently-crafted design-led products, including homeware, gifts, cards, and jewellery. The Festival Place store also features a takeaway counter serving hot drinks and baked goods from local food and beverage operators. Poppy Radford, asset manager at Sovereign Centros, said: “Responding to the needs and wants of our catchment, Festival Place is introducing more premium but accessible retail brands, and the opening of Fig & Fox is evidence of Sovereign Centros’ ability to deliver this. Following a successful pop-up at the end of last year, the locally-based operator has now built a brick-and-mortar home here, with a quality fit out that Festival Place’s visitors will love. Coming shortly after the opening of Rituals, we look forward to seeing another brand with a premium feel go from strength to strength at the destination.” […]

OFFICE opening builds on strong 2023 at Angel Central

1st February 2024

Fashion footwear specialist OFFICE has opened at Angel Central in Islington, North London, building on a strong 2023 for the scheme. The retailer has taken a 1,969 sq ft unit at the Upper Street entrance to the scheme, stocking a range of collections including brands such as Dr Martens, Nike, UGG, and Adidas. This comes as CBRE Investment Management has announces that Angel Central reported a sales increase of 16% in 2023 compared to 2022. The shopping destination also saw an increase in footfall of 6.4%, compared to the national average of 2.9%, whilst transactions rose by 4%. Angel Central has also opened a refurbished store for long-standing tenant Accessorize, adjacent to OFFICE. The new space was designed to enhance the customer experience, with improved light fixtures and signage to create a more inviting and appealing atmosphere. Earlier in 2023, Maven Leisure opened Northwood, Angel Central’s first purpose-built sports pub and kitchen, spanning 3,600 sq ft on the first floor. Anchor tenants at the scheme include the likes of UNIQLO, H&M, Rituals, and MUJI. Louisa Butters, head of retail asset management UK at CBRE Investment Management, said: “Angel Central continues to create opportunities for brands to thrive within Islington, with...