Retail Property Deals

GPE signs Gaggenau for flagship store in the West End

1st October 2024

Great Portland Estates (GPE) has signed luxury appliances brand Gagganau for a new global flagship store within London’s West End. The retailer has signed a 10-year lease for 6,900 sq ft of retail space at 6/7 Portman Square, Orchard Court, with the brand relocating from its current unit on Wigmore Street. The store is set to be the anchor of GPE’s newly-marketed ‘Portman & Wigmore’, which includes 1/9 Portman Square and 132/142 Wigmore Street. The aim of the development is to create a striking new location for high-end retail and showroom use. Sarah Goldman, head of retail at GPE, said: “We are delighted that Gaggenau will be opening its new flagship at Portman Square. As one of the leading luxury home appliance brands, the decision to relocate from globally recognised Wigmore St and increase its footprint within the West End highlights the appeal of our central location at Portman & Wigmore, and shows we are committed to strengthening the retail offer.” Simon Richmond, head of Gaggenau UK, added: “Each of our new flagships around the world offer a unique experience to our consumers as well as our customers. We are excited to launch our latest flagship at Portman Square, W1. We have […]

ProCook makes West Midlands debut at Touchwood

1st October 2024

Kitchenware retailer ProCook is set to make its debut in the West Midlands after agreeing a deal to open at Touchwood shopping centre in Solihull. The brand has signed a 10-year lease for a 4,510 sq ft unit within the scheme’s Crescent Arcade area, and will offer a range of cookware, knives, utensils, tableware, and small appliances. The letting sees Touchwood – which is home to brands including Oliver Bonas, Mango, Miele, Rituals, Tag Heuer, Apple, Zara and John Lewis – now 99% let. Since its acquisition of Touchwood in 2021, owner The Ardent Companies and asset manager Sovereign Centros from CBRE have looked to implement a strategy focused on diversifying the destination’s tenant mix. In addition to a raft of new retail brands, competitive socialising options such as Spinners and an increased dining offer have expanded the scheme’s visitor base. In the past year, over 40,000 sq ft of new lettings have been made at Touchwood, while full-year footfall in 2023 was 2.8% higher than the previous year and trading figures were on par with pre-pandemic performance. Andrew Hilston, managing director at The Ardent Companies, said: “The arrival of ProCook at Touchwood is emblematic of the strategy we have implemented...

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...