Retail Property Deals

Epsom’s Ashley Centre announces new signing as ProCook opens

22nd October 2024

The Ashley Centre in Epsom has signed British lifestyle brand Oliver Bonas for a new store, as specialist kitchenware brand ProCook opens at the scheme. Oliver Bonas will be opening a 2,390 sq ft store, offering its full range of fashion, homeware, jewellery, homeware, and gifting products. The store will look to complement nearby retailers including Next and the centre’s anchor retailer M&S. Oliver Tress, founder at Oliver Bonas, said: “We are pleased to announce that the Ashley Centre will be joining our portfolio of stores as we continue to grow our physical presence across the UK. This area is a key location, and one with a large catchment area for us to tap into and provides us with more opportunity to build our customer base in Surrey.” This comes as ProCook opens its 2,124 sq ft store at The Ashley Centre, adjacent to Next. Founded 28 years ago, ProCook has since grown into one of the UK’s leading direct-to-consumer specialist kitchenware brands. Andy Kerr, retail director at ProCook, said: “Our Ashley Centre store opening marks the significant halfway point for ProCook’s retail estate growth plans this year and we’re delighted to solidify our brand presence in this key part […]

Reading’s Station Hill welcomes pair of F&B signings

21st October 2024

Station Hill, the £850m mixed-use development in Reading, has signed two operators to join its expanding food and beverage offering. Coffee and bar chain Notes – which operates 12 outlets across London – has signed a 10-year lease for a ground floor unit of ONE Station Hill. The store will occupy a prime location facing the train station and is expected to attract rail users and enhance foot traffic throughout Station Hill. The opening also marks Notes’ first venture outside of London. Also joining Station Hill is Japanese restaurant Kawaii, which has signed a 15-year lease for a ground floor restaurant unit. The unit is set to be transformed into a contemporary dining space with outdoor seating, featuring materials and crockery imported from Japan. In addition to Siren Brew’s RG1 Bar, these new additions represent approximately 40% of the lettable retail and leisure spaces within the development. In total, approximately 95,000 sq ft of lifestyle-led retail and leisure space will be available at Station Hill. Evan Reynolds, development director at Lincoln Property Company, said, “Since the outset of Station Hill, our approach to retail leasing has been twofold: first, to target local heroes, ensuring that Station Hill celebrates Reading and avoids becoming...

Gym operator to open at W12 Shopping Centre

21st October 2024

The Gym Group has agreed a long-term lease with West 12 Investments to open a new gym within W12 Shopping Centre in Shepherd’s Bush, London. Set to open in December, the 17,000 sq ft gym will be located on the first floor of the centre. The gym will offer 24/7 access and will be supplemented by free onsite car parking. Savills acted for West 12 Investments, whilst The Gym Group was advised by Arcane Real Estate. Michael Lockhart, director of retail at Savills, said: “We’re delighted to have secured The Gym Group on a long-term lease at W12 Shopping Centre. Savills is focused on attracting high-quality tenants to the centre while creating a well-rounded mix that serves both the centre and the wider community. Welcoming a renowned brand like The Gym Group not only enhances the offering, but also strengthens the long-term appeal of the offer, ensuring it remains a vibrant destination.” Abbie Scudamore, senior property acquisitions manager at The Gym Group, added: “Our new gym in Shepherd’s Bush will be a fantastic addition to our gyms around the country and part of our 10-12 new gyms open in 2024. Working with the team at Savills and Arcane Real Estate, we have […]

Local coffee house brews up Manchester Arndale opening

21st October 2024

A Manchester-based coffee house has become the latest signing at Manchester Arndale, after signing a 10-year lease for a 544 sq ft space on Halle Place. Founded in 2017 by Thanasis Michael, Michael’s Coffee House is an independent café based in Manchester’s Royal Exchange, which offers a drinks menu that includes hot beverages, smoothies, milkshakes, and juices. The café also offers food including toasties, breakfast buns, and soups. The arrival of Michael’s Coffee House at Manchester Arndale follows the recent news that Castore and BPerfect have agreed leases at the scheme. Castore is set to add to Manchester Arndale’s fitness and apparel lineup, whilst BPerfect will offer a variety of makeup, tanning, and beauty products in their first megastore in England. Scott Linard, portfolio manager for M&G Real Estate, said: “Michael’s Coffee House adds to our diverse food and beverage mix at Manchester Arndale which offers a real variety of choice for our customers. It is also great to welcome another growing Manchester-based business to the centre as we continue our commitment of supporting local independent brands who are seeking to grow their presence in the city.” Steve Gray, head of European retail asset management at Global Mutual, added: “Michael’s […]

Metrocentre to welcome pair of Newcastle-born operators

21st October 2024

Metrocentre in Gateshead has announced the signing of Greggs and Newcastle United, with the two Newcastle-born operators set to open in the scheme’s Upper Town Square. Opening ahead of Christmas, bakery chain Greggs will open a larger format 3,491 sq ft unit. The new opening will look to complement the brand’s existing shops in Metrocentre’s Red Mall and Blue Mall, and will be twice as large as its existing store in the scheme’s Yellow Mall. Next door, Newcastle United will open a 3,229 sq ft flagship space, offering a selection of the Premier League team’s official merchandise, including kits, books, memorabilia, retro shirts, and gifts. Ben Cox, director at Sovereign Centros from CBRE, asset manager of Metrocentre, said: “We are pleased to welcome two of Newcastle’s most iconic institutions to Metrocentre’s Town Square. The addition of new flagship stores for both Newcastle United and Greggs, adjacent to the soon to open NHS Community Diagnostic Centre, is a great boost for this location and we look forward to seeing them open for peak trading.” This announcement follows the news that River Island is undergoing an extensive refurbishment at Metrocentre, with the fashion retailer updating its largest store in the North East. […]

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...