Retail Property News

Touchwood Solihull in the West Midlands recorded strong trading performance in 2025, with the scheme seeing a rise in footfall and leasing activity and the shopping centre operating at near full occupancy. Over the course of 2025, footfall at Touchwood rose to 11.2m visitors, with particularly strong performance in the final quarter which saw a year-on-year increase of 2.3%. In December, footfall rose by 2.6% compared to 2024. The scheme also completed over 80,000 sq ft of leasing activity in 2025. Notable deals included Apple opening a new store – which more than tripled its presence at the centre – as well as new arrivals including Space NK, Sweaty Betty, and Lisa Angel. Last year also saw the expansion of Touchwood’s leisure and restaurant offer, with US burger chain Wendy’s and Brazilian-style steakhouse Beleza Rodizio opening at the scheme. Following 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 and expanding the destination’s tenant mix. Joe Swindells, asset management and development director for Ardent, said: “The performance of Touchwood over the past year, with increased footfall and strong leasing, highlights its position as the […]

Gloucester Quays sees festive boost in sales and footfall following new arrivals

Peel Retail & Leisure has announced that sales and footfall at Gloucester Quays increased over the festive period, following a series of new arrivals at the scheme. Following Black Friday which coincided with November’s payday in 2025, Gloucester Quays recorded a 6.5% year-on-year (YoY) increase in retail sales for the month. Food and beverage operators in particular also delivered positive results, achieving a 2% YoY uplift. In December, footfall for the month rose by 5.5% YoY. The arrival of Gloucester Quays’ free-to-attend Christmas market, now in its 13th year, proved a significant draw to the destination. The market’s attractions contributed to a spike in weekend footfall at Gloucester Quays, averaging a 15% YoY increase across the seven weeks leading up to Christmas. Retail sales in December increased by 1.1% YoY, with the homeware and gifting category leading the way with an increase of 66.3%. Menswear also saw strong growth, with sales up by 31.2% during the same period. These results came off the back of a number of new signings throughout 2025. Last year, the outlet shopping centre welcomed new arrivals including Søstrene Grene, Ben Sherman, Label Yard, and Men Kind, alongside the relocation and upsize of Crew Clothing. Festive...

M Core acquires pair of Midlands retail assets

Sheet Anchor Evolve, part of the M Core group, has acquired two retail assets in Coventry and Birmingham. The group has acquired Lower Precinct in Coventry, a fully let shopping centre which extends to approximately 221,600 sq ft. The scheme is anchored by national retailers including H&M, New Look, River Island, Superdrug, and Home Bargains. Sheet Anchor Evolve has also acquired The White House and 5-9 Lower Temple Street in Birmingham. Located adjacent to New Street Station, the asset comprises three adjoining buildings and extends to approximately 60,000 sq ft, providing a mix of retail, leisure, and office accommodation. Occupiers include Be At One, Archies, and Tim Hortons. Sheet Anchor Evolve will lead on the ongoing management of the scheme. Danny O’Keefe, co-founder of Sheet Anchor Evolve, said: “The Midlands is a core market for us, where our local knowledge and long-term approach allow us to identify assets with strong fundamentals and clear growth potential. These acquisitions reflect our focus on centres in established locations, where active management and close occupier relationships can support sustainable performance.” Sebastian Macdonald-Hall, chief investment officer at M Core, added: “These acquisitions align with our wider strategy of disciplined investment in strong locations, supported by […]

Fashion giant Inditex takes Meadowhall footprint to over 70,000 sq ft with pair of new signings

Global fashion group Inditex is set to increase its footprint at Sheffield’s Meadowhall to over 70,000 sq ft, with the signings of Stradivarius and Pull&Bear. The two fashion retailers will join fellow Inditex brands Bershka and Zara, which already operate stores at Meadowhall. Pull&Bear has taken a 13,000 sq ft flagship unit within Meadowhall’s Lower Level High Street. The urban fashion brand will stock a full collection of menswear, womenswear, accessories, and footwear, set within its latest design concept. Taking the adjacent unit, Stradivarius has signed for 8,200 sq ft of space, creating a regional flagship to showcase the womenswear brand’s full range of clothing, footwear, and accessories. Both brands are expected to open this summer. The signings have taken the amount of Inditex regional debuts at Meadowhall to three, following the opening of Bershka in late 2024, a year in which Zara also upsized at the shopping centre. Richard Crowther, retail leasing director at British Land, said: “This double deal with Inditex, to create regional debuts for Stradivarius and Pull&Bear, is indicative of the leasing demand at Meadowhall, and its success. Last year, we exchanged on new leases covering over 300,000 sq ft, seeing £47m investment by brands alone […]

Orchard Street acquires £37.5m Rugby retail park

Orchard Street Investment Management has acquired Junction One Retail Park in Rugby for a fee in the region of £37.5m. Located at Junction 1 of the M6, the scheme spans 204,000 sq ft across 19.9 acres. The retail park is home to a number of national retailers, including anchor tenants B&M and The Range, as well as drive-through restaurants. The scheme was purchased on behalf of Orchard Street’s recently launched UK Decarbonisation Impact Fund. Orchard Street said the fund has a decarbonisation-led asset management strategy and the recent acquisitions all present opportunities to reduce occupier costs and deliver future-proofed assets. The retail park was acquired as part of a three-asset portfolio which also included two industrial estates in the south east of England. In a separate transaction, Orchard Street acquired an industrial estate in Feltham. In total, the fund deployed £200m across the acquisitions. Tom Chadwick, partner at Orchard Street said: “The pace of deployment is a strong endorsement of our strategy and sourcing capability having completed £200m of high-quality acquisitions since fund launch in the summer, most of which were off market. 2025 was an exceptionally busy and successful year for Orchard Street as we have also brought on […]

Superdrug to upsize and open one of its largest UK stores at Merry Hill

Superdrug is set to upsize its store at Merry Hill in the West Midlands, with the health and beauty retailer opening one of its largest stores in the UK. The retailer will double its presence at the scheme to 16,000 sq ft, enabling a greater range of beauty products, as well as access to treatments such as ear piercing, manicures, and eyebrow threading. The store is set to open in the second quarter of 2026, with Superdrug’s recommitment to Merry Hill becoming the latest in a series of brands to invest in the centre, following M&S’ creation of a 100,000 sq ft flagship store, which opened in November. Amongst health, beauty, and wellness brands at Merry Hill, the scheme recorded a 3% year-on-year sales boost in this category in 2025. Merry Hill also celebrated the upsize and relocation of Savers, a sister brand to Superdrug, into a 5,000 sq ft unit earlier this year, the largest in the UK so far. Nick Round, senior asset manager at Sovereign Centros from CBRE, said: “Superdrug’s decision to upsize with us, creating one of its largest UK stores while investing in its existing space, shows how our tenants are succeeding. Merry Hill’s ability...

Trinity Leeds ties up Footasylum signing

Footwear and sportswear retailer Footasylum is set to open a new store at Trinity Leeds. Opening in April, the 12,000 sq ft store will look to build on the retailer’s existing presence in Leeds, following the performance of its former store at The Core shopping centre and the brand’s pop-up at Trinity Leeds last year. The new store will be located on the scheme’s lower ground floor, in the unit formerly occupied by Superdrug and opposite Mango. The Trinity Leeds opening forms part of Footasylum’s wider UK store rollout and follows a number of recent openings, including at the Cornmill Centre in Darlington, Croft Retail and Leisure Park in Bromborough, and Forster Square shopping centre in Bradford. Shannon Osman, head of retail at Footasylum, said, “Leeds has always been a strong market for Footasylum. The response to our pop-up in the Trinity shopping centre last year, and our previous store at The Core, demonstrated clear demand for a bigger, permanent Footasylum presence in the city, and we’re delighted Trinity provided the right opportunity to do that.” “This store represents an important step as we continue our rollout across the UK and beyond under Aurelius’ ownership. Investing in high-quality retail spaces remains […]

Catella APAM completes six new retail lettings at Cardiff’s Morgan Quarter

Catella APAM, acting on behalf of the Greater Manchester Pension Fund, has completed six new retail lettings over the last eight weeks at Morgan Quarter in Cardiff, totalling approximately 16,000 sq ft. The new occupiers include De Montfort Fine Art, Kokoro, Amplifon, Pop Specs, Busby & Fox, and Socktopus. Morgan Quarter comprises a collection of historic shopping arcades linking Cardiff’s principal retail pitches. Through its asset management programme, Catella APAM has created defined retail environments across the scheme, with different pitches from destination fashion and lifestyle to services and food. Rhys Williams, Aassociate director at Catella APAM, said: “This level of leasing activity reflects both the strength of retailer demand in Cardiff city centre and the effectiveness of our strategy at Morgan Quarter. By curating a balanced tenant mix and creating distinct identities across the arcades, we are ensuring the scheme remains relevant, resilient and attractive to high-quality occupiers.” Rob Palmer, director in the Retail Agency team at Savills Bristol, added: “The recent wave of openings at Morgan Quarter reflects the strength and appeal of the destination as a vibrant location for a diverse mix of retailers. From fashion and lifestyle to specialist services and dining, Morgan Quarter continues to demonstrate […]

Norwich’s Castle Quarter changes hands

Castle Quarter in Norwich has been sold to private clients of asset manager Maritime Capital. The 370,000 sq ft scheme opened in 1993 as Castle Mall, Norwich’s first indoor shopping mall. It was rebranded in 2019 to Castle Quarter and has since transitioned from a traditional shopping centre to a hub for social, leisure, and lifestyle uses alongside retail. The scheme currently has a 50/50 split between retail and leisure tenants. Maritime Capital is an independent, family-owned asset management business based in Richmond. Founded by Toby and Max Hunter in 2013, the business has since transacted over £1.5 billion in property investments. Max Hunter, head of asset management at Maritime Capital, said: “We chose to purchase Castle Quarter because it has so much potential. “We were very impressed by the transformation that the centre has undertaken over the past five or so years, moving from traditional shopping centre with a leisure element, to now being a vibrant and growing social, leisure and lifestyle destination. But there is still so much to be done to ensure that Castle Quarter is the first place people think about when planning a daytime trip into Norwich or an evening out. “We already have an […]

Comment: Setting the standard for modern retail – The Grove, Los Angeles

When you walk through The Grove in Los Angeles, it’s hard to think of it as a shopping centre. It feels more like a holiday resort – warm, scenic, and alive with people. Since opening in 2002, The Grove has redefined what experiential retail can be, setting the standard for how shopping destinations should look, feel, and operate.

Supermarket Income REIT poaches Sainsbury’s director for senior role

Supermarket Income REIT (SUPR) has appointed Jamie Cowen as strategy director. In this newly-created position, Cowen will look to drive growth of the real estate investment trust’s portfolio and unlock value through active asset managment. He joins SUPR from Sainsbury’s, where he has held the position of director of estates and investments from 2022. He began his career at the supermarket retailer as head of property development, and has since held roles including head of property (international), head of mixed-use development, head of investment and planning, and head of estates and investment. Prior to his time at Sainsbury’s, Cowen was a development surveyor at Whitbread. Jamie Cowen said: “I am thrilled to be joining SUPR at such an exciting time in its growth. The company achieved a number of major milestones last year, and I’m excited to be a part of continuing that momentum.” Robert Abraham, CEO of SUPR, added: “I’ve known Jamie Cowen since I started with SUPR in 2019 and being able to attract an individual of his calibre is a real testament to the strength of the business and the significant progress we have made over the last year or so. “We look for the right cultural […]

The Boulevard: Why IKEA chose Northern Ireland’s “most exciting” retail destination for outlet debut