Retail Property Deals

Lincoln shopping centre acquired by joint venture

1st June 2023

Waterside Shopping Centre in Lincoln has been acquired by Lincolnshire Co-op and property management company Wykeland in a 50/50 partnership. The retail and leisure destination is currently 95% let, with occupiers at the scheme including H&M, Next, New Look, Superdrug, O2, Office, and Skechers. The purchase follows Lincolnshire Co-op’s Cornhill Quarter redevelopment, which saw the transformation of Lincoln’s corn exchange building into a retail and leisure destination. Waterside Shopping Centre will be operated as a retail-centric scheme, although Lincolnshire Co-op said the new partnership will look to develop the site’s leisure offering. Wykeland has previously worked in partnerships to develop and manage property assets such as the Fruit Market urban village in Hull and the Treadmills mixed-use scheme in Northallerton, North Yorkshire. Head of property at Lincolnshire Co-op, Kevin Kendall, said: “We’re always looking for opportunities where we could further support the retail and leisure offer within Lincoln and this partnership with Wykeland, focusing on a key site, is a perfect fit.” Wykeland managing director Dominic Gibbons added: “We see this as a highly attractive asset in a vibrant city centre location benefiting from significant and ongoing investment, particularly the neighbouring Cornhill Quarter scheme where Lincolnshire Co-op have undertaken a […]

KIBOU to open fifth restaurant in Cambridge

1st June 2023

KIBOU is set to open its fifth location this summer, taking up residence in a former Pizza Express site in Cambridge. The Japanese restaurant concept currently operates sites in Battersea, Solihull, Clifton, and Cheltenham, with its latest addition becoming the group’s largest yet. The 150-cover Cambridge restaurant will sit in a Grade II listed property at 7a Jesus Lane, which is currently undergoing a full redesign and refurbishment. KIBOU in Cambridge will feature a cocktail lounge and dining area with an open sushi and hot kitchen, as well as two dining rooms, and offer a menu The chain’s joint managing director, Sam Horswill, said: “We’ve long set our hearts on operating here, it’s spot on to our core demographic, so when the right site came along, we knew it was time.” He added that KIBOU was remaining “firmly focused on expanding the brand over the next five years”, and teased that the restaurant group has another site in the pipeline for 2023.

L’Estrange secures third London site

1st June 2023

L’Estrange has acquired its third site in London at Kings Cross’ Coal Drops Yard. The new store will become the menswear brand’s third in the Capital, adding to its sites in Covent Garden and Spitalfields. The King’s Cross opening will be the retailer’s second this year, following its launch in the Nine Street District of Amsterdam. L’Estrange, which opened its first pop-up in Covent Garden in 2013, looks to maintain a culture of sustainability and conscious shopping. In March, the brand was awarded Climate Positive brand certification. The store was designed by Fred Rigby Studio, which also worked on the retailer’s other locations. Jamie Orme of Bruce Gillingham Pollard acted on behalf of L’Estrange to secure the letting.

Sainsbury’s opens 10th ‘Neighbourhood Hub’ store in Henfield

31st May 2023

Sainsbury’s has opened the doors to its 10th ‘Neighbourhood Hub’ store to customers in Henfield, West Sussex. As part of the grocer’s new concept, the 5,554 sq ft store is a food-led interpretation of Sainsbury’s traditional offering, with its size sitting somewhere between that of a convenience store and a traditional supermarket. Sainsbury’s hopes that the new concept will be the best “in neighbourhood” offer. The Henfield store will also offer a click-and-collect service, with products from Sainsbury’s Argos, Habitat, and TU Clothing ranges available for online ordering. Sainsbury’s will also be working with Horsham District Foodbank via its partner charity Neighbourly to contribute to the retailer’s food donation programme. Patrick Dunne, Sainsbury’s property director, said that the new store will operate using 100% renewable energy and LED lighting, as the supermarket retailer looks to become net zero by 2035.

Ninja Warrior to open first Essex adventure park

31st May 2023

Ninja Warrior UK Adventure Park is set to open its first Essex location at The Meadows Retail Park in Chelmsford. The physical adventure experience – operated by Prime Leisure Group and inspired by the ITV entertainment show – has signed a 15-year lease for a 25,000 sq ft unit. Schroders Capital, which operates the scheme, has built on its existing relationship with Prime Leisure Group, following an agreement to deliver a 30,000 sq ft Ninja Warrior UK Adventure Park at Schroders’ Chatham Waterside asset in Kent in 2019. The Chelmsford letting means the asset will be 98% occupied, following a £3m reconfiguration of a 24,750 sq ft former Argos store which created space for new occupiers PureGym, TGI Fridays, and Cosy Club. Schroders has now secured over 93% occupancy across its entire Capital UK Real Estate Fund, with Ninja Warrior’s letting following a series of new leases agreed at assets in Bracknell, Central London, Colchester, Romford, and Spalding within the last few months. Tom Woolven, asset manager for Schroders Capital, said: “The letting also completes a successful leasing strategy at The Meadows following the decision to reconfigure the former Argos unit. Our team’s partnership approach with tenants and future occupiers […]

Merry Hill to welcome Wagamama

31st May 2023

Merry Hill is set to welcome Wagamama, as the Dudley shopping centre reports an increase in food and beverage (F&B) sales in the first quarter of the year. Opening this year, the pan-Asian inspired restaurant will take a 4,000 sq ft unit on the scheme’s upper mall, nearby to the yet-to-open Hollywood Bowl. Wagamama at Merry Hill will adopt the chain’s pared-back dining format, with long communal-style tables as well as smaller seating areas. The new restaurant will also feature Wagamama’s traditional open kitchen. The news comes as Merry Hill reports a 17% increase in F&B sales in the first quarter of 2023, compared to 2022. The centre has also made a series of F&B announcements in 2023, including the launch of German Doner Kebab at the scheme’s dining hub, Eat Central. Jack Gordon, senior asset manager at Sovereign Centros, said: “Wagamama has enduring popularity, and is therefore the perfect addition to Merry Hill’s dining offer. We have seen the hospitality offer at Merry Hill evolve significantly over the past year, and the arrival of Wagamama bolsters the diverse culinary line-up established at the destination.” JLL and Time Retail Partners represent Merry Hill.

Bottoms up for Albert’s Schloss in London

31st May 2023

Albert’s Schloss is set to open at the former Rainforest Café location at Shaftesbury Avenue, marking a London debut for the beer hall. Set to launch in Spring 2024, the 18,000 sq ft Alpine ‘Cook Haus’ and Bavarian-inspired ‘Bier Palace’ will span three floors and accommodate over 500 guests. Albert’s Schloss in London will become the operator’s fourth UK location, adding to its current roster of sites in Liverpool, Manchester, and Birmingham. Real estate agency and consultancy P-THREE acted on behalf of the landlord, Criterion Capital, while Raven Rose acted for Albert’s Schloss on the deal. Thomas Rose, co-founder of P-THREE, said: “By making their London debut with Criterion Capital on Shaftesbury Avenue, Albert’s Schloss highlights the strength and appeal of the West End, which continues to attract and deliver the very best of leisure and F&B.” Omar Aziz at Criterion Capital added: “Albert’s Schloss has established itself as a significant brand within the F&B sector, always providing a destination for customers and we trust that they will be bringing their mastery to this new night-time destination hub in London’s West End.” Albert’s Schloss’ arrival comes as part of a wider strategy by P-THREE to attract more opportunities to the […]

Odd Muse returns to Covent Garden

31st May 2023

Independent fashion retailer Odd Muse has made its return to Covent Garden for a second pop-up store, following on from a successful debut in April. The ‘investment fashion’ brand has opened a 3,000 sq ft space at 4 Slingsby Place, and will continue to run until mid-July, asset manager Longmartin Properties has announced. Founded during the Pandemic in 2020, Odd Muse looks to create products which emphasise sustainability and female empowerment. Longmartin Properties said the brand’s ethos aligns with that of The Yards, which is looking to build a community of like-minded businesses within Covent Garden. Aimee Smale, founder of Odd Muse, said: “As an online-based retailer, it’s exciting when we get the opportunity to be up, close, and personal with our consumers, build new relationships and stress the importance of investment fashion.” On behalf of Longmartin Properties, Simon Taylor, property director at the Mercers’ Company, added: “As well as adding something unique to our retail portfolio, we are always delighted to provide retailers a space to enjoy those first bricks-and-mortar experiences in our prime location as one of the most thriving and busy neighbourhoods in London.” Odd Muse’s return to Covent Garden follows the recent opening of womenswear brand […]

TAG Heuer to make Liverpool debut

30th May 2023

Jewellery retailer David M Robinson (DMR) is set to open its third Liverpool ONE store, bringing the TAG Heuer brand to the city for the first time. The 3,600 sq ft boutique will also mark LVMH’s first dedicated partnership in Liverpool. Opening in October, TAG Heuer will join DMR’s existing stores at Liverpool ONE, which include an OMEGA boutique as well as the recently upsized ad refurbished Rolex flagship. TAG Heuer Liverpool ONE is set to be the brand’s largest store in the country, complete with a private luxury lounge and bar, as well as boutique space. Rob Deacon, senior asset manager at Grosvenor, said: “The opening of the TAG Heuer boutique marks a milestone moment for both DMR and Liverpool ONE, as we welcome a new store debut to the city. As one of our original tenants from 15 years ago, it has been an absolute delight working alongside David M Robinson and playing a role in the success story of the brand.” The signing of TAG Heuer follows the recent record-breaking results for Liverpool ONE during Eurovision, with the scheme estimated to have made an extra £19.9m during this period. CBRE & Metis acted for Liverpool ONE, while […]

Black Sheep Coffee brews up Arndale opening

30th May 2023

Black Sheep Coffee has agreed to join Manchester Arndale, opening in a 4,187 sq ft unit on a 20 year lease. The Manchester scheme has also announced that arts and crafts store The Works has signed a new five-year lease for its 3,356 sq ft store. Black Sheep Coffee has signed for a number of new stores recently, with openings in Peterborough, Milton Keynes, and Basingstoke, all lined up in 2023. The coffee chain will look to promote sustainability at its Manchester shop, offering 100% compostable takeaway cups and PLA plastic alternatives. The news also follows recent leasing activity at Manchester Arndale, including to names such as Manchester City, Moss, Nike, Sports Direct, Superdrug, Hollister, and Gilly Hicks. Steve Gray, head of European retail asset management at Global Mutual, said: “Already a firm favourite among locals and visitors alike, we’re looking forward to welcoming the independent operator which will provide a great stop off point for those exploring all the centre has to offer. “We are also pleased that The Works has committed its future to Manchester Arndale. The store is a key driver of footfall for the centre and this new agreement is a clear sign that retailers have...

Birdie Fortescue opens second King’s Road pop-up

30th May 2023

Home accessories brand Birdie Fortescue has returned to the King’s Road, opening a second pop-up store in the space of a year on the iconic Chelsea street. The 1,728 sq ft store at 342-326 King’s Road will be open until January 2024, and will stock a range of soft furnishings, tableware, accessories, lighting, and furniture. Birdie Fortescue’s pop-up store will also host a number of events, working with other brands and delivering talks and art exhibitions. The brand was founded in 2014 and currently operates two permanent sites in Norfolk. The pop-up store will join a number of independent interior stores in the area such as William Yeoward, Designers Guild, and Little Greene. Hannah Grievson, property director at estate manager Sloane Stanley, said: “We are thrilled to welcome Birdie Fortescue back to the King’s Road. They were a front-runner last year when it came to providing high-quality products and an elevated shopping experience, and we are confident that its second time residence will be no different.” The arrival of Birdie Fortescue follows the signing of wine merchant Jeroboams at 336 King’s Road, which is set to open a 1,298 sq ft store in June.

Sunderland’s Sheepfold stables announces two new tenants

26th May 2023

The developers behind a £2m transformation of a former Sunderland stables has announced two new tenants as it prepares to open a food, drink, and leisure venue later this year at the site. BuildingDesignNorthern (BDN), which is developing the Grade II listed building, has welcomed the signings of cocktail operator Yem and Trinidadian eatery The Calabash Tree to Sheepfold Stables. Yem will serve a number of classic and original cocktails using local inspiration and ingredients, and plans to partner with another Sheepfold Stables tenant, Speyside Distillers, to provide local gin and whiskey options to customers. The Calabash Tree will provide customers with a range of Caribbean dishes such as curries, rice and peas, jerk chicken, and saltfish. A number of vegan and vegetarian dishes will also be available. The eatery’s founder, Ryan McVay, currently runs a street food business in Washington, and has already taken part in a number of pop-up events. The new signings will join the existing bill of future tenants at the venue, including one half of the Hairy Bikers Si King, Southpaw Dance Company, and Tamar Hassan’s Asian-inspired restaurant, Hidden Lotus. Planning permission for the project was granted in May 2022, allowing BDN to transform the site into...