Retail Property Deals

Cornish Bakery store on Rye High Street

Cornish Bakery appoints KLM Real Estate to deliver on UK-wide expansion

13th September 2022

Cornish Bakery, one of the fastest growing, independent bakery brands in the UK, has appointed KLM Real Estate to support its ambitious plans for expansion. Founded by Stephen Grocutt, starting with one location in Mevagissey, Cornwall, the company now trades from 56 locations across the whole of the UK. The main product categories are breakfast pastries, lunch range of pizzetta, focaccia and toasted sandwiches, Cornish Pasties, cakes and artisan coffee. The company is performing very well and sees an opportunity to grow its estate to 100 branches. Stephen Grocutt says: “Bakery is the new coffee shop. We are building one bakery at a time in character buildings in quality locations. Each bakery is designed differently which reflects our true independence and respects its location. Our purpose is to nourish people. We already have the highest net promoter score and employee net promoter scores in our industry additionally we empower all our bakery teams to support and nourish their own local charities and organisations. “We have a winning formula and look forward to working with KLM Real Estate to identify a raft of great new bakeries around the country.” Cornish Bakery is keen to gain a presence within UK market towns […]
Metrocentre, Gateshead

Flannels and Sports Direct to open North East flagships at Metrocentre

15th August 2022

The new letting is in line with Metrocentre’s business plan and consolidates Red Mall as a regional fashion destination. Retailers Flannels and Sports Direct are to open new flagship stores for the North East in Metrocentre, Gateshead after exchanging contracts with the Metrocentre Partnership who were advised by Sovereign Centros. Parent company SportsDirect.com Retail Limited has taken the former Debenhams store in the centre’s Red Mall for the two brands. The Metrocentre Partnership has agreed a 15-year lease on the 130,000 sq. ft store with the retail group, which intends to open a 70,000 sq. ft Flannels on the ground floor and a 60,000 sq. ft Sports Direct on the first floor. Both stores will open next year. The negotiations for the Metrocentre Partnership were led by its asset manager, Sovereign Centros. Flannels currently occupies a 5,000 sq. ft unit on the Upper Red Mall and Sports Direct occupies a retail warehouse elsewhere in Gateshead, which will close when the retailer moves to the Metrocentre. The former Debenhams store is currently occupied by Next Home & Beauty, which will consolidate into Next’s existing store in the Green Mall. Graeme Jones, director at Sovereign Centros, said: “These lettings will create a...