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Retail Property Deals

Luxury perfume house launches Covent Garden flagship

17th November 2023

Luxury perfume house Creed has opened a flagship store at Covent Garden, Shaftesbury Capital has announced. The 365 sq ft store at 14 King Street features a new store design and is the brand’s third standalone boutique in the UK. Creed Covent Garden presents the brand’s most extensive product range yet including rare exclusives, and features a service area offering bottle engraving, gift wrap ribbon personalisation, and leather monogramming. The brand joins a number of fragrance brands already established at Covent Garden including Aēsop, Chanel, Diptyque, Guerlain, Jo Malone London, Le Labo, Miller Harris, Parfums de Marly, and Penhaligon’s. Michelle McGrath, executive director of Shaftesbury Capital, said: “Creed’s innovative and timeless approach to perfumery is a leading example of the calibre of brands we always seek to attract to the destination. Covent Garden’s carefully curated blend of internationally renowned and independent concepts continues to make the destination stand out across the market, and we look forward to seeing the bespoke King Street flagship boutique flourish amongst our strong tenant line-up.” The openings follows a number of flagship announcements at Covent Garden, including outdoor apparel brand Arc’teryx, which will open an 8,000 sq ft space next year, and the recent opening […]

M&S opens Lakeside store as expansion continues

16th November 2023

M&S has opened a 97,000 sq ft store at Lakeside Shopping Centre in West Thurrock, as the retailer continues its busiest month of expansion. The store features a market-style M&S Foodhall, as well as clothing and home and beauty departments, and a 140-seat café. The Lakeside store is part of an £80m investment into the retailer’s “biggest ever” month of openings in November. M&S is looking to become the UK’s leading omnichannel retailer, pivoting its estate from 247 stores to 180 higher quality, higher productivity stores, whilst also opening 100 food sites by the 2027/28 financial year. The Lakeside store features a clothing department with menswear, womenswear, and childrenswear from M&S brands such as Per Una, Autograph, Goodmove, and Jaeger. Meanwhile, the M&S Foodhall offers food from M&S’s own farms, a bakery, and a dedicated wine shop. As part of a £20m investment by Lakeside, the store will also be serviced by an enlarged entrance from an upgraded car park, granting improved access. Steve Gray, head of European retail asset management at Global Mutual, said: “Lakeside’s new M&S store has been long-awaited by our guests and we are delighted to see the doors open today – just in time for the...

Calvin Klein opens at Dalton Park outlet centre

16th November 2023

Calvin Klein has opened at the North East’s largest outlet shopping centre, Dalton Park in County Durham. Global Mutual, which manages the shopping destination, said the arrival of Calvin Klein is a step forward in expanding the brand mix and providing visitors with more choices at Dalton Park. The store stocks a range of denim, underwear, and loungewear items for men and women. The opening follows a record breaking 2022 for Dalton Park, which saw a notable increase in footfall and spend. Sales increased by 14.5% last year, with customers buying higher ticket items. During Calvin Klein’s opening weekend, footfall at Dalton Park increased by 47% on Friday 3 November and 21.6% on Saturday 4 November. Richard Kaye, centre manager at Dalton Park, said, “The introduction of Calvin Klein to Dalton Park is a huge step forward in our strategy to diversify the brand mix. Given its global status and acclaim, there is no doubt the brand will help enhance and evolve the shopping experience and drive even more customers to the destination, and we’re already seeing impressive numbers. It is great to see designer fashion continue to arrive at Dalton Park and we are looking forward to seeing what the future of our centre holds.” Nicky Lovell, […]

Frasers Group opens multi-brand store at Metrocentre

16th November 2023

Frasers Group has opened the doors to a multi-fascia store at Metrocentre, bringing three brands to the Gateshead shopping centre. The three brands have opened in the former Debenhams unit, with Flannels and Sports Direct both taking 50,000 sq ft whilst Everlast Gyms has taken 37,000 sq ft of space. The flagship Flannels store offers brands such as Creed, Tom Ford, and Dolce & Gabbana Beauty, as well as its first ever home section in a regional mall. Sports Direct brings a number of Frasers Group brands to Metrocentre, including USC, Evans Cycles, and GAME. The store features dedicated areas for running, football, and outdoors. It also brings the retailer’s new running concept to Metrocentre, which was first launched at Sports Direct’s Manchester flagship. Accessible through sports direct, Everlast Gym’s Metrocentre location will be its 10th and largest hybrid gym to date. The gym is home to a bar, saunas, chill tubs, physio rooms, and a full size boxing ring. The Debenhams site is not the first ex-department store to be repurposed at Metrocentre, with the transformation of the former House of Fraser site into an NHS Community Diagnostic Centre. Ger Wright, Managing Director Sport at Frasers Group, said: “We […]

King Pins strikes Manchester Arndale deal

16th November 2023

Manchester Arndale is set to expand its leisure offering after striking a deal with local bowling concept King Pins. The operator has agreed to a 20-year lease for the 28,890 sq ft former Sports Direct unit, which will become King Pins’ second location in Greater Manchester. The venue will also offer a range of other activities, such as curling, shuffleboard, batting cages, pool, ping pong, and karaoke. Food kiosks will also be available where visitors can enjoy cocktails, slushies, craft beers, and sweet treats. King Pins will be Roxy Leisure’s second letting at Manchester Arndale, following the opening of sister brand Roxy Ball Room a few years ago. Steve Gray, head of European retail asset management at Global Mutual, said: “Leisure and entertainment operators are increasingly becoming key features of UK shopping destinations and are helping to draw in more visitors from a broader catchment group seeking social activities. It is therefore great to work with Roxy Leisure again on a second family-orientated leisure offer following the success of Roxy Ball Room. King Pins is a growing and already popular local brand, and we expect their offer to appeal to visitors once they are open. “The arrival of King Pins […]

JD Sports doubles Bullring presence

15th November 2023

JD Sports has doubled its presence at Birmingham’s Bullring & Grand Central, after opening the doors to an upsized store at the scheme. The store spans 27,500 sq ft and is the sportswear retailer’s biggest opening this year. It features dedicated areas for brands including Adidas, Nike, Under Armour, The North Face, and Berghaus. Scheme owner Hammerson said the signing is reflective of its strategy to enliven its estate with high profile brands, concepts, and market firsts. Toby Tait, director asset management at Hammerson, said: “JD’s upsize is a testament to the attractiveness of Bullring & Grand Central and the continued ‘flight to quality’ we are experiencing across our portfolio, with high-profile brands seeking the very best locations. Our strong pipeline demonstrates the success of our strategy and the confidence we have in evolving and future proofing our assets to attract the best quality brands and concepts.” JD Sports becomes the latest in a number of retailers to join Bullring and Grand Central, following the signings of Nike Rise, Bershka, Pull & Bear, Watches of Switzerland, and M&S. Leisure concepts which have recently opened at the scheme include Sandbox VR and bowling brand Lane7, as Hammerson looks to diversify the...

Lunson Mitchenall advises on trio of transactions

15th November 2023

Property investment firm Lunson Mitchenall has advised on a trio of transactions totalling just under £25m in recent months. This includes the sale of Gardiner Place in Henley to a private company on behalf of Catalyst Capital for around £5m. The mixed-use asset comprises over 28,000 sq ft of retail, leisure, food and beverage, and residential space. Lunson Mitchenall also advised on the acquisition of the Grange and Pyramids Shopping Centre in Birkenhead on behalf of Wirral Borough Council. The 586,000 sq ft asset was acquired for £10m and forms part of the local authority’s redevelopment plans. Knight Frank acted for the vendor, Mars Pension Fund. The disposal of Riverside Shopping Centre in Hemel Hempstead on by Lunson Mitchenall completes the transactions. DS Real Estate, which was advised by Savills and Lewis & Partners, acquired the 278,000 sq ft scheme for £8m from Abrdn, and are planning to convert the former Debenhams unit to a residential use. John Griffin, head of Lunson Mitchenall’s investment team and managing director, said: ‘’Investors recognise the appeal of the retail and leisure market, a sector that has seen huge rental and capital value repricing over the last few years. “Investors are conscious that rents have […]

Frasers Group acquires Yorkshire outlet shopping centre

15th November 2023

Frasers Group has acquired an outlet shopping centre in Yorkshire from Landsec in a deal worth over £45m. Junction 32 in Castleford spans 250,000 sq ft and comprises over 90 stores, with tenants such as Adidas, M&S, Nike, and Next. The purchase is the latest in a long line of acquisitions for Frasers Group, which has upped its stake in a number of retailers and snapped up retail assets such as Luton’s The Mall over the last two years. Landsec purchased Junction 32 in 2017 from Hermes Investment Management, along with two other outlet centres for a total consideration of £333m. It was put on the market during last winter as it does not fit within Landsec’s latest strategy of focusing on London offices, big retail destinations, and mixed-use urban destinations. Global Mutual, CBRE, and law firm Denton advised Frasers Group on the outlet centre purchase. Andrew Henderson, real estate partner at Dentons, said: “We are delighted to have advised longstanding client Frasers Group on its latest investment in bricks and mortar retail. Frasers Group has a strong commitment to physical retail and a track record of investing in interesting and value add opportunities in retail. The acquisition was another opportunity for our […]

Loungers continues roll-out with four new sites

14th November 2023

Loungers has opened four new sites as it continues its expansion programme, which the operator says is “firmly on track”. The group has opened three new Lounge sites as well as a Cosy Club in Oxford in recent weeks. The three Lounge sites are Alfredo Lounge in Louth, Lincolnshire, which is part of the former Eve & Ranshaw department store; Bordo Lounge in Carlisle, which sits in a former Topshop; and Muro Lounge in Hexham, formerly an Argos. The Oxford location is Loungers’ 36th Cosy Club. Loungers – which also owns the Brightside roadside dining concept – now has an estate totalling 242 sites, and said it is on track to open 34 sites in the current financial year. The group said earlier this year that it sees potential for 600 sites across the UK. Nick Collins, CEO of Loungers, said: “Our accelerated site roll-out plan remains firmly on track, and we’re delighted with the four new sites that we’ve opened in the last few weeks. It’s particularly pleasing to be increasing our presence in the north through the openings in Carlisle and Hexham, and we see significant potential for more sites in both the North West and the North East. “It’s also […]

Phase Eight and Hobbs upsize at Merry Hill

14th November 2023

Phase Eight and Hobbs have upsized their presence at Merry Hill Shopping Centre in Dudley, after both brands relocated from separate units. The sister brands have opened in a 6,000 sq ft unit on the scheme’s Upper Mall. The space offers Phase Eight’s range of dress up dress down styles and eventwear, as well as Hobbs’ collection of luxury fashion, including accessories and footwear. Designed with the brands’ approaches to premium fashion in mind, the space has been fitted out with a new interior featuring wood accents and display areas. Alistair Winning, asset manager at Sovereign Centros, said: “Over the last year we’ve seen many of our tenants, like Phase Eight and Hobbs, upsize and recommit at Merry Hill. This is a clear recognition of Merry Hill’s position as a key West Midlands destination, with leading retailers seeing a longer term future here. We’re so pleased to see Phase Eight and Hobbs launch their new, bigger store, complementing our diverse, high-quality fashion retail portfolio.” The opening follows the recent news that fitness operator XTRAFIT has signed for a UK debut at Merry Hill, taking 40,000 sq ft of the former Debenhams store. JLL and Time Retail Partners represent Merry Hill.

Caledonia Park welcomes two fashion brands

13th November 2023

Caledonia Park in Gretna has welcomed the arrival of fashion brands Tommy Hilfiger and Calvin Klein, Railpen has announced. Tommy Hilfiger has opened in a 5,000 sq ft unit at the outlet centre, joining the scheme’s anchor brands including Nike, Adidas, and POLO by Ralph Lauren. It becomes the brand’s 15th outlet store in the UK. Meanwhile, Calvin Klein has opened a 4,100 sq ft store, adjacent to BOSS and Lindt. The brand’s Caledonia Park location is its 16th within its outlet portfolio in the UK. Maria Averkina, asset and development manager at Railpen, said: “A key part of our leasing strategy following the refurbishment of Caledonia Park is to deliver a strong collection of aspirational brands to the centre, and we are pleased to see this positive momentum continue as we celebrate the openings of Tommy Hilfiger and Calvin Klein. These openings represent a significant endorsement for Caledonia Park, as well as its appeal to global retailers, and further bolsters our position as Scotland’s premium designer outlet village.” The arrivals of Tommy Hilfiger and Calvin Klein the news that Hobbs and Phase Eight will be opening a 1,112 sq ft unit later on this month. This will mark their […]

Lush returns to Covent Garden

13th November 2023

Lush has made its return to Covent Garden, ten years after leaving the shopping destination in London’s West End. The cosmetics retailer opened on Friday (10 November) as a Christmas pop-up store, and will have a thorough makeover in spring of next year which will include the creation of a spa. The store comprises 2,747 sq ft of retail space on the ground floor and a basement area of 3,401 sq ft. Lush took on Scotch & Soda’s lease for the property, which is set to expire in May 2032 with a tenant break in 2027. The passing rent is £535,000. The store sits within a listed building with entrances from both Long Acre and Floral Street. Lush repurposed the majority of Scotch & Soda’s fixtures and fittings in line with its values relating to sustainability and recycling. The previous Lush store in Covent Garden was open between 1998 and 2013. The administrators Teneo were represented by Pantera Properties and Hartnell Taylor Cook. BKL acted for Lush. In June, Lush opened a pop-up in Soho in collaboration with Focus Features, the company behind Wes Anderson’s Asteroid City movie.