Retail Property Deals

LCP welcomes trio of signings to Glasgow’s Princes Square

1st October 2024

LCP, part of M Core, has announced the signing of three new tenants at Princes Square in Glasgow. Fashion brand & Other Stories leads the signings, taking a 10-year lease for a 6,350 sq ft space. The new store will be the brand’s second in Scotland and is set to open in December. Meanwhile, sports and whiskey bar The Club House opened at the scheme last month, taking a 4,141 sq ft space. Finally, eyebrow bar Beauty Boutique has signed a three-year lease for a 100 sq ft unit at the retail destination. Princes Square comprises four self-contained retail units along Buchanan Street as well as an inner mall spread across five levels. It was acquired by LCP earlier this year. Alex Williams, senior asset manager and head of Scotland at LCP, said: “We are thrilled to welcome & Other Stories, The Club House and Beauty Boutique to Princes Square. These lettings demonstrate the continued strong demand for high-quality retail space in Glasgow’s prime locations. “We are confident that these new tenants will further enhance the retail and leisure experience for visitors to Princes Square.” Rakesh Joshi, director for leasing at LCP, added: “The arrival of & Other Stories is […]

Montirex opens debut standalone store at Liverpool ONE

1st October 2024

Outdoor and sportswear retailer Montirex has made its bricks and mortar debut, opening a standalone bricks and mortar pop-up store at Liverpool ONE. The opening of the 3,000 sq ft store on South John Street marks a step forward for the brand, which has enjoyed success at concessions within Liverpool ONE’s JD Sports and Footasylum stores. The debut activation offers a range of Montirex’s exclusives, as well as the brand’s collection of sportswear, outdoor wear, and accessories for men, women, and children. This announcement follows a series of recent investments into South John street, including the upsize of Zara, which is set to fully open in December, as well as the refurbishment of jewellery brand Pandora, which opened its new store concept in June. Rob Deacon, director of asset management at Grosvenor, said: “It is incredibly rewarding to be able to expand and enhance Montirex’s offering at Liverpool ONE. Given the brand’s Liverpudlian roots and the huge success they have enjoyed with us to date, the power of places in connecting brands with people cannot be underestimated and their debut standalone pop-up provides our customers with the invaluable variety, rarity and experience we seek from short-term activations.” The opening of...

The Bridges in Sunderland welcomes two new retailers

30th September 2024

The Bridges shopping centre in Sunderland has welcomed the arrival of two new tenants, as footwear retailer Deichmann and fashion retailer Quiz join the scheme. This comes following the news that Holland & Barratt will begin a full refurbishment of its store at the centre next month. The Bridges was acquired last month by Evolve Estates, part of commercial property and investment collective M Core. Spanning 595,000 sq ft, the shopping centre is home to almost 100 units and is anchored by Primark, Next, and Tk Maxx. Karen Eve, centre director at The Bridges said: “Retaining and attracting good quality retailers in The Bridges is a long-term strategy. “I am delighted with the addition of our new stores along with the Holland & Barrett refurbishment, which follows in the footsteps of Pandora, which relocated and delivered a brand-new shop fit earlier this year.”

Menswear brand Skopes opens flagship store at Leeds White Rose

30th September 2024

British menswear brand Skopes has opened its largest store yet at White Rose Shopping Centre in Leeds. The new location – which is the brand’s 20th in the UK – marks a homecoming for the retailer, which was founded in Leeds in 1948. The 3,800 sq ft store offers Skopes’ full range of menswear, including suits, outerwear, shirts, footwear, and accessories in a variety of styles, fits, and colours. Skopes opened the first of its next generation concept stores in Westfield London in 2018, and has since continued this at Meadowhall in Sheffield, and at the Metrocentre in Gateshead. The brand is also planning to open additional stores in 2025. Simon Cope, CEO of Skopes, said: “Opening a store in our home city has been on the agenda for a few years and we’ve been waiting for the right location to become available. White Rose Centre has offered us the chance to showcase our full range of clothing, footwear and accessories and to connect with our local customers in a special way.” Mike Barber, head of retail at Skopes, added: “Since we launched our first concept store in Westfield London in 2018, we’ve refined and improved the shopping experience we […]

Peak Performance opens debut UK store at Covent Garden

30th September 2024

Scandinavian outdoor brand Peak Performance has opened its debut UK store in London’s Covent Garden. The 1,700 sq ft store at 49 Long Acre offers the brand’s range of ski and outdoor wear as well as additional services, such as an in-store secondhand trade-in system, care and repair services, and professional washing. In line with the brand’s heritage, the store has been fitted out in a Scandinavian-inspired, minimalist style. As part of the store’s launch, Peak Performance hosted a one-day pop-up, transforming the Covent Garden Piazza into the home of a ski rail jam. The event featured demonstrations from some of the world’s top skiers, including Peak Performance athletes Alex Hackel and Theo Thoren. Peak Performance joins a number of performancewear brands at Covent Garden, including Arc’teryx, Carhartt, Finisterre, HOKA, Lululemon, Peloton, Route One, Vivo Barefoot, and the recently-opened flagship store from Swedish footwear brand, Axel Arigato. William Oliver, retail leasing director at Shaftesbury Capital, said: “Peak Performance is the kind of bold, progressive and specialist brand that makes Covent Garden the unrivalled retail destination it is today, so we’re delighted to have welcomed its debut UK store to Long Acre. The neighbourhood is not only home to a host […]

Levy Real Estate advises on £6m Central London restaurant acquisition

27th September 2024

Levy Real Estate has advise on the acquisition of a Central London restaurant unit on behalf of an overseas investor. The property on Great Newport Street, in close proximity to Leicester Square, was acquired for just under £6m. The asset is currently let to P.F. Chang’s, with approximately eight years remaining on the lease, and generates an annual rental income of £405,000. The acquisition was secured at a net initial yield of around 6.00%. Levy Real Estate said the deal highlights its expertise in identifying and securing high-quality investment assets in key Central London locations. Portland Leisure Advisers acted on behalf of the vendor.

Frasers Group opens flagship store at Meadowhall

27th September 2024

Frasers Group has opened a new flagship store at Meadowhall shopping centre in Sheffield. The new FRASERS store spans 100,000 sq ft across two floors, and features products from brands including Sports Direct, Sofa.com, USC, Evans Cycles, and GAME. The group said the new opening demonstrates its commitment to physical retail and investment into regional communities. FRASERS has opened in The Avenue, a part of the scheme formerly known as Park Lane which is currently undergoing refurbishment. David Epstein, managing director of premium and luxury at Frasers Group, said: “Our FRASERS Meadowhall flagship store demonstrates the Group’s commitment to setting a new benchmark in retail and creating exceptional shopping destinations. “Driven by our strong partnerships with some of the most renowned premium and lifestyle brands in the industry, we’ve developed an elevated space that combines quality, variety, and innovation. “With an unrivalled offering of the best in fashion, footwear, and accessories as well as our most expansive homeware destination to date, this store creates an engaging and inspiring shopping experience for consumers that showcase the very best of what our brand partners have to offer.”

Sportswear brand Castore opens at Braehead Shopping Centre

26th September 2024

Castore has continued its UK expansion with the opening of a new store at Braehead Shopping Centre near Glasgow. The 1,482 sq ft store showcases the brand’s range of performance sportswear designed for both men and women. The brand’s arrival at Braehead Shopping Centre forms part of the centre’s ongoing commitment to welcoming brands that align with customer demands. This move allows the brand to connect with a broader audience in a high-footfall environment, whilst offering customers its range of innovative sportswear. Castore’s new store will join a range of other sportswear brands at Braehead Shopping Centre, including JD Sports, Footasylum, and Sports Direct. Ashley Bisland, centre director at Braehead Shopping Centre, said: “We are delighted to welcome Castore to Braehead Shopping Centre and are confident that the new store will thrive with our customers. Their commitment to performance and innovation aligns perfectly with our focus on providing the best retail experience for our shoppers.” Danny Grimshaw, head of retail at Castore, added: “Our new Castore store at Braehead will provide us an opportunity to continue our successful reputation in the region, making us more accessible and helping us to enhance our shopping experience. The centre’s fantastic location will allow us to […]

Superbowl leads 27,000 sq ft of new signings at Festival Place

26th September 2024

Family-friendly entertainment concept Superbowl UK leads a pair of new leisure and F&B signings at Festival Place in Basingstoke, which between them will take nearly 27,000 sq ft of space. The operator will open a 16,750 sq ft unit at 44-49 Queen Anne’s Walk next summer, opposite the centre’s Apple Store. The concept is centred around 10 bowling lanes, but also incorporates soft play, interactive darts, shuffleboard, and a SEGA Prize Zone. The venue will also include a food and beverage offering, serving classic diner food and a range of alcoholic and soft drinks. Meanwhile, restaurant operator Hans Buffet is set to open next door to Superbowl UK, taking around 10,000 sq ft of space. The concept – which comes from the team behind Bracknell’s Tang’s Buffet – will offer an international menu featuring over 100 dishes. Jack Gordon, director at Sovereign Centros from CBRE, on behalf of Festival Place, said: “These are two landmark signings for Festival Place, that play a big part in the destination’s continued evolution to deliver a more rounded, all-encompassing offer for its visitors. Superbowl UK is well known in the area and will bring families and groups of adults from far and wide, as […]

Space NK continues expansion at Centre:mk

25th September 2024

Beauty retailer Space NK has continued its expansion across the UK after agreeing a deal to open at Centre:mk in Milton Keynes. Opening on Silbury Arcade at the end of November, the 1,721 sq ft store will offer a range of makeup and skincare products. The new Space NK store at Centre:mk will include a dedicated consultation area for makeup and skincare, along with specialist treatment room. Customers will also be able to access personalised beauty consultations and advice from a professional beauty advisor. Brands on offer will include the likes of Tatcha, Drunk Elephant, NARS, Rare Beauty, Hourglass, Kosas, Olaplex, Ultra Violette, Sol De Janeiro, Diptyque, Milk Makeup, Glossier, Laura Mercier, and Aesop. Kevin Duffy, centre director at Centre:mk, said: “The signing of Space NK marks another step in our commitment to offering best-in-class retail experiences. As Space NK’s latest strategic opening, it underscores centre:mk’s reputation as a prime destination for top-tier brands. This addition further solidifies our status as a leading location for popular beauty and wellness retailers, as Space NK joins the likes of H Beauty, Boots, Rituals and L’Occitane.” The signing follows the recent additions of Mango and Reiss at Centre:mk as well as the upcoming...

Perfumery makes regional debut at Victoria Leeds

25th September 2024

Le Labo, part of the Estée Lauder Company, has made its regional debut at Redical’s Victoria Leeds. Located on Queen Victoria Street, the perfumery’s boutique spans 1,500 sq ft and looks to reflect its New York City heritage whilst honouring the Victorian-era architecture of the location. In line with Le Labo’s concept, the new store allows customers to engage with the art of slow perfumery and create personalised perfumes. The brand’s collection of 19 core genderless perfumes will be made to order and select creations can be packaged with a personalised label including the date, location and a message of choice. Customers can also refill their fragrance in store. Rachel Bradburn, leasing director at Victoria Leeds, said: “Le Labo is a globally renowned perfume brand, celebrated for its unique, personalised customer experiences that leaves a lasting impression. Their innovative philosophy perfectly complements Victoria Leeds’ dedication to offering an exceptional and immersive shopping journey. Welcoming Le Labo not only enhances our best-in-class tenant mix but also firmly cements Victoria Leeds as a premier destination for luxury brands.” Le Labo’s opening follows the recent announcement that British heritage and lifestyle brand Barbour has made its city debut at Victoria Quarter, marking its first New Heritage […]

Evolve Estates announces flurry of leasing activity

24th September 2024

Evolve Estates, part of M Core, has announced the completion of a number of new lettings and renewals across its portfolio in the South of England. The new signings have been completed across six of the firm’s schemes. At Totton Shopping Centre in Southampton, Greggs has renewed the lease for its existing 1,000 sq ft unit on a five-year term, whilst theatre company Fluid Motion has taken a 980 sq ft unit at the scheme. This will look to operate as a creative hub where the theatre company will host drop-in sessions and activities. Meanwhile, a local convenience operator has taken a new unit on Queen’s Walk in East Grinstead, West Sussex. The operator has taken a 10-year lease on a 700 sq ft refurbished unit. In Portsmouth, mobility providers Eden Mobility has signed a ten-year renewal on its current 2,650 sq ft unit on London Road. At Evolve Estate’s Swanley Shopping Centre, locally-based hairdressers Hanson’s Hair has opted to renew the lease for its 650 sq ft unit for another five years. Finally, mobile network operator EE has agreed an additional five-year term for its 1,700 sq ft store on Calverley Road in Tunbridge Wells. Sebastian Macdonald-Hall, co-founder at...