Retail Property News

Game on for Activate at Harlequin Watford

21st May 2026

Immersive gaming concept Activate is set to join Harlequin Watford after signing for a 15,592 sq ft unit. The competitive socialising concept is being delivered by We Do Play, the group behind trampoline and indoor park operator Flip Out, which also has a venue at Harlequin Watford. The new venue will look to combine immersive gaming with technology-driven challenges, designed for groups of visitors. It will feature all of Activate’s flagship experiences, featuring lasers, grids, hoops, portals, and reaction-based challenges. The upcoming arrival of Activate comes as SGS UK Retail, which owns and operates Harlequin Watford, looks to evolve the scheme’s tenant mix with a rejuvenated leisure focus. Rich Beese, co-founder of We Do Play, said: “Watford is a thriving, well-connected town with a strong retail and leisure offer, making Harlequin a natural choice for Activate. Retail destinations that invest in immersive leisure experiences are encouraging increased dwell time and repeat visits, particularly among younger audiences and families. Activate is designed to tap into that demand with a high-energy, bookable experience that delivers something genuinely different.” Robert Jewell, managing director of asset management at Pradera, added: “Harlequin has evolved into far more than a traditional shopping destination, and the signing […]

New sushi concept to make debut in Soho

21st May 2026

Saltwater, a new takeaway sushi concept, is set to open its debut site at 3-4 Berwick Street in Soho, London. Created by Elliot Milne, who is also behind all-day Australian eatery Milk Beach, Saltwater will be taking a 2,500 sq ft space, where it will feature a quick-service offer inspired by the dynamic takeaway sushi bars in Sydney and Los Angeles. The restaurant will feature a spacious counter and open preparation area as well as an inside eating area, offering a menu featuring a range of handrolls, nigiri, and hot donburi bowls. Emma Matus, head of restaurant leasing at Shaftesbury Capital, said: “The arrival of Saltwater is an exciting addition to Soho’s thriving F&B landscape, which continues to evolve with new concepts. It also reinforces Soho as a first-choice destination for brands looking to introduce new concepts to a discerning audience; the neighbourhood’s busy nature and diverse customer base makes it the ideal location for a fast-paced dining concept. Berwick Street is an established lunchtime hotspot, and Saltwater will bring something new to the table here.” The signing follows the recent news that Padella has opened at 2 Kingly Street, making its West End debut in Soho.

Q&A: How can smaller retail destinations adapt their offerings?

21st May 2026

As middle markets continue to feel squeezed, how can smaller, more regional shopping destinations adapt their offerings to a modern customer base? Peter Everest is managing director of WD Ltd – which owns Dockside at Chatham Maritime. The centre – located in Medway, Kent – comprises restaurants, cafés, bars, a range of high street brands and leisure attractions, as well as everyday conveniences and services such as a nursery and dentist. He spoke to Completely Retail News about how the scheme has evolved to meet new demands: How has retail evolved during your time in the industry? “From 25 year upward only rent reviews to short term leases that allow flexibility and change, the landlord and tenant relationship has become a partnership that now also includes the consumer with all parties looking at sales data on a frequent basis.   “Significant macro-economic events such as the 2008 Global Financial Crisis and the more recent Covid pandemic and global unrest have completely reshaped consumer behaviour and many familiar high street brands that failed to adapt have left huge voids across retail space in the UK. The middle market hardly exists and middle market schemes are having to reinvent themselves. “In those intervening years […]

NewRiver sells Greater Manchester shopping centre to local authority

20th May 2026

NewRiver REIT has sold Ladysmith Shopping Centre in Aston-under-Lyne, Greater Manchester to Tameside Metropolitan Borough Council. The 190,394 sq ft scheme is located adjacent to the town’s Grade II-listed Town Hall, and opens directly onto the recently-opened Market Square, which has undergone a £10.8m investment by Tameside Council to create new public realm and a covered market for street food, markets, and year-round events. The shopping centre is anchored by Boots, Peacocks, and Home Bargains. Tameside Council said the acquisition forms the latest milestone in a £1bn borough-wide regeneration that will reposition the town as one of the UK’s best connected and most investable locations. The council has secured over £250m of public investment to unlock a development pipeline that will look to deliver over 5,000 new homes and experience-led town centres designed for modern living. NewRiver has been retained to lead the scheme’s asset management, alongside managing agents Ashdown Phillips. Nicola Elsworth, director of strategic growth at Tameside Council, said: “Bringing Ladysmith into public ownership is a pivotal moment for Ashton. It gives us the ability to shape one of the town centre’s most important sites, delivering the homes, investment and hospitality this community deserves. Combined with the market transformation, […]

M&S opens 15 new stores in a year

20th May 2026

Marks & Spencer has opened 15 new stores in a year. In the retailer’s preliminary results for the year ending 28th March 2026, M&S said it had opened 12 new food and three new full line stores during the period. The retailer said it is entering 2026/27 with an increased focus on its three core investment programmes of supply chain modernisation, technology transformation, and store rotation. M&S said a pipeline of new, high-volume store openings has been developed. During the last financial year, M&S recorded an adjusted pre-tax profit of £671.4m, a year-on-year decline of 23.8%. Stuart Machin, chief executive of M&S, said: “Retailers face a triple whammy of headwinds with increased taxation, a greater regulatory burden and ongoing global conflict. At M&S we are unshaken by short-term events. We have a clear plan and there is much within our control as we reinvest in value and quality for our customers. “Our job is to protect the magic of M&S while modernising the rest. We’ve now got the momentum to do that at pace. We have a strong culture, a hard-working focused team, and a growth business. There’s an extraordinary opportunity ahead, and we are on it.”

British Land “well positioned” after retail park occupancy hit 99%

20th May 2026

The chief executive of British Land Simon Carter has said the real estate investment trust (REIT) is well-positioned to capitalise”, as the group sees its retail park occupancy hit 99%. In its final results for the 2025 financial year, the REIT recorded an underlying profit of £294m, a year-on-year increase of 5%. In total, the group leased 3.8 million sq ft, 7.2% ahead of estimated rental value (ERV), with an additional 1.1 million sq ft under offer. Across retail and the group’s London logistics portfolio, the group lease 2.1 million sq ft, completed at 8.4% ahead of ERV with an additional 0.8 million sq ft under offer, 10.3% ahead of ERV. Across British Land’s retail park portfolio, leasing was completed ahead of previous passing rent by 6.3% during the second half of the year. The REIT also saw an increase in portfolio valuation of 2.7% across retail and London urban logistics. Over the course of the year, British Land disposed of £106m of assets at an average of 4% above book value. Post year, the group has exchanged or is under offer on £176m of asset disposals. The REIT also acquired £94m of retail, principally across three retail parks. Simon...

Global Mutual’s Affinity portfolio hails standout May Bank Holiday weekend

19th May 2026

Global Mutual has hailed a standout May Bank Holiday weekend at its Affinity outlet portfolio, recording increases in leisure-led sales and footfall of up to 252% and 88%, respectively. The group said the results highlight the increasingly important role that leisure, family-focused events, and community engagement now play in driving commercial performance across outlet retail destinations. At Affinity Lancashire, The Wookiees Strike Back Star Wars Day activation featured live character appearances and an interactive themed trail, generating an 87.52% uplift in footfall compared with the previous week, while sales increased by 3.01%. Meanwhile at Affinity Sterling Mills Outlet Shopping, the centre’s Big Bloom Bash event – which combined children’s entertainment, seasonal activities, and family experiences – contributed to an increase in footfall, as well as a 17.80% uplift in total sales when compared to the same period last year, alongside an 8.86% rise in like-for-like sales versus last year. At Affinity Devon, leisure delivered a 252% uplift compared with the same period last year thanks to operators like World of Wonder and Really Wild Planet. Catering also performed strongly, recording a 23% increase, while Gifts & Confectionery saw an uplift of 14%. Finally, Affinity Staffordshire reported strong commercial performance following its May the 4th Star Wars […]

Occupier sought for Margate’s historic Theatre Royal as £6m restoration lined up

19th May 2026

Thanet District Council seeking a theatre operator to take a long-term lease at the historic Theatre Royal in Margate, Kent, as the building undergoes a £6m restoration. Constructed in 1787, the Theatre Royal is the second-oldest operating theatre in Britain and is currently Grade II-listed. A redesign of the building took place in 1874 by Jethro T. Robinson, father-in-law of the renowned Victorian architect Frank Matcham. The theatre is currently being restored at a cost of £6m, with funding from the Government’s Town Deal programme. A planning application and listed building consent have now been submitted for the refurbishment of the theatre, which envision a venue with approximately 480 seats. Thanet District Council is hoping to engage an operator by the end of summer 2026, and has appointed Colliers’ Licensed & Leisure Team to manage the process. The restoration of the Theatre Royal comes amid a wave of regeneration in Margate over the past 20 years. Other initiatives have included Turner Contemporary, designed by world famous architect David Chipperfield, the restoration of Dreamland as a heritage amusement park and music venue, and Tracey Emin’s TKE Studios, created from a former Edwardian bathhouse.  The historic Margate Winter Gardens are also currently […]

Guildford retail and office block handed £9.7m price tag

19th May 2026

A mixed-use block in Guildford, Surrey, has been placed on the investment market with an asking price of £9,700,000, reflecting a net initial yield of 10.21%. Eastgate Court, located at 195-205 High Street, comprises 34,582 sq ft of ground floor retail accommodation and office space, arranged around a courtyard. The asset is multi-let to seven tenants with a weighted average unexpired lease term of 1.71 years to break and 3.38 years to expiry, and property produces a passing rent of £998,365 per annum. Retail tenants at Eastgate Court include Toni & Guy, Knight Frank, and Kutchenhaus, while office occupiers include video game developers Larian Studios and Fuse Games. There exists a number of asset management opportunities at the property, including the redevelopment of vacant office space or refurbishment to residential use. There are also 14 flats with their own dedicated entrance from the High Street. These have been sold off long leasehold and are entirely separate to the commercial accommodation. Located 32 miles southwest of Central London, Guildford is a key commuter hub and is one of Surrey’s largest commercial centres. The town is home to the University of Surrey, the Spectrum Leisure Centre, as well as a number of […]

Eurofund acquires £70m Bradford shopping centre

19th May 2026

Eurofund Group has completed the acquisition of The Broadway in Bradford from the scheme’s joint fixed charge receivers. The centre becomes Eurofund’s first-ever wholly-owned investment, with the group also taking over as asset manager. Upon acquisition, Eurofund is planning to invest £10m into an asset enhancement plan as it looks to improve the leasing mix and customer experience. Spanning approximately 570,000 sq ft, The Broadway was originally developed by Westfield and launched in 2015. The scheme is anchored by Primark, JD Sports, H&M, Next, Flip Out, and The Light Cinema. Although the acquisition price was not disclosed, it had been previously reported that Eurofund was looking to acquire the scheme for over £70m. The purchase was funded with financing support from BGO. Ion Saralegui, CEO of Eurofund Group, said: “The acquisition of The Broadway marks a major milestone for Eurofund Group as our first-ever solo investment and a significant step in expanding our UK footprint. It reflects our ambition to act as a proactive investor and developer, focused on retail assets with the potential to become dominant catchment destinations. Building on the successful repositioning of Silverburn, we see a unique opportunity to continue unlocking long-term value and delivering tangible impact.”...

MINISO relocates Brent Cross Shopping Centre store

18th May 2026

MINISO has relocated into a new store in Brent Cross Shopping Centre in London. The lifestyle retailer’s new space, which opened earlier this month, replaced the brand’s previous store at the London scheme, and stocks a range of vinyl plush collectibles, blind boxes, plushie toys, beauty products, accessories, and snacks. MINISO said the new store offers “an enhanced shopping experience designed to better serve the local community and growing fanbase”. Saad Usman, MINISO UK chief operating officer, said: “We’re thrilled to be unveiling our new and improved store at Brent Cross Shopping Centre.  “This relocation marks an exciting step forward for Miniso, allowing us to create a more engaging and dynamic space for our customers.  “Brent Cross has always been an important location for us, and this new store enables us to better serve the local community while showcasing even more of the products and collections our fans love.”

John Lewis unveils new in-store hospitality brand

18th May 2026

John Lewis has unveiled a new hospitality brand that it will introduce to its department stores. The concept, called Platter John Lewis, will replace the department store chain’s The Place To Eat brand across 32 cafés, with the first three refurbished spaces opening this month. This forms part of John Lewis’ £800m multi-year investment in its brand, stores and customer experience, as the retailer looks to focus on giving customers more reasons to visit, meet, and spend time in its shops. Refurbishment is already underway at three John Lewis stores, with Chichester, Reading and Oxford Street the first branches to undergo investment. The latter will undergo the most extensive refurbishment and will reopen in August as the flagship Platter John Lewis. All 32 cafés will be refurbished and rebranded by the end of 2027. There are currently 62 cafés and restaurants across John Lewis’ store estate, with hospitality accounting for over 20% of the business’s in-store transactions. Katie Papakonstantinou, director of services and hospitality for John Lewis, said: “Customers are spending more time in our shops, and food and drink is an increasingly important part of that experience. Platter John Lewis will give customers a more modern, welcoming place to...