Retail Property News

Glasgow entertainment complex handed £1.6m price tag

17th July 2025

An entertainment complex in Glasgow has been placed on the investment market with a price tag of £1,650,000, reflecting a net initial yield of 11.61%. Located at 20 Glassford Street within Glasgow’s Merchant City, The Glasshouse Complex houses a multi-faceted licensed investment. The premises lie a few minutes’ walk from George Square, Strathclyde University, and Glasgow’s main retailing areas along Argyle Street and Buchanan Street. Within the property, there is a sports bar in the ground floor, a music venue within the basement, and a tenpin bowling concept with a bar within the first floor. The three concepts – which together occupy a total area of 26,272 sq ft – are subject to separate lease agreements. The premises themselves are arranged over the ground floor, first floor, and basement of a multi-storey steel frame building with a glass frontage. Adjacent occupiers, which form part of the building, include a car park and a Grosvenor Casino. The Glasshouse Complex has a weighted average unexpired lease term of 14.5 years to expiry, and generates a rent of £202,500 per annum. CDLH and Knight Frank have been appointed to find a suitable purchaser.

Oliver Bonas to open first-ever outlet store at Gunwharf Quays

16th July 2025

Oliver Bonas is set to open its first-ever outlet store at Landsec’s Gunwharf Quays retail destination in Portsmouth. The British lifestyle brand’s new store will be located on Gunwharf Quays’ The Avenues, which has recently been upgraded as part of a multi-million pound investment into the destination. Founded in 1993, Oliver Bonas offers a range of fashion and homeware collections. The brand will join a number of lifestyle brands at Gunwharf Quays, including Polo Ralph Lauren, Boss, Coach, UGG, Nike, and The White Company. Pablo Sueiras, head of retail and hospitality leasing at Landsec, said: “This move gives customers the chance to experience the brand in a new format. “Oliver Bonas launching its first-ever outlet store at Gunwharf Quays speaks volumes about the strength of the destination and its unique appeal to leading brands. It’s a location that offers the footfall, profile and setting for retailers to really stand out and connect with their audience. This move gives customers the chance to experience the brand in a new format.” The comes shortly after Landsec announced it had broken ground at Marlborough Square, marking a milestone in the transformation of the Portsmouth-based retail outlet. Works are due to complete in Spring...

Claire’s appoints advisers in hunt for buyer

16th July 2025

Jewellery and accessories retailer Claire’s has appointed advisers to find a buyer for its UK business. The retailer has appointed Interpath Advisory to advise on a potential sale or restructuring, Sky News has reported. This comes as the chain struggles with increasing debts, including a £355m repayment due to be repaid in December 2026. Sources told Sky News that prospective buyers have been informed that a sale of the chain could lead to significant numbers of store closures. Potential buyers could include retail investors such as Modella Capital and Gordon Brothers. Claire’s – which trades from around 280 stores in the UK – is also exploring options, including bankruptcy protection, for its US-based business, Bloomberg News reported last week. The company is owned by its former creditors Elliott Management and Monarch Alternative Capital.

Delivery partner chosen for central London mixed-use development

16th July 2025

The City of Westminster Council has chosen Altius Real Estate as its delivery partner to lead the transformation of Huguenot House into a mixed-use development. Located between Leicester Square and Piccadilly Circus, the 1960s-era Huguenot House will make way for a scheme which features a cinema, a hotel, new flats, offices, and redesigned public realm. Altius Real Estate will work with contractor Erith and architect Foster + Partners on the transformation, with design work now set to begin. The council settled on a full redevelopment as the preferred option for the site in 2021, following years of deliberation. A planning application will now be submitted following a public consultation. Councillor David Boothroyd, cabinet member for finance and council reform, said: “The redevelopment of Huguenot House represents a once-in-a-generation opportunity to transform a key site in the heart of the West End. “Altius has demonstrated a clear commitment to delivering high-quality homes, including much-needed affordable housing, alongside vibrant community spaces and a reimagined public realm.”

Hollywood Bowl to open largest ever venue at Cardiff St David’s

16th July 2025

Hollywood Bowl is set to open its largest entertainment centre in the UK at Landsec’s St David’s Centre in Cardiff. The venue, opening in Spring 2026, will offer a mixture of competitive socialising activities across a 45,000 sq ft space. Spanning over two floors, Hollywood Bowl at St David’s will offer ten-pin and duckpin bowling lanes, interactive darts, and electric go-karting. The venue will also feature an arcade with pool tables and diner-style food and drink options. Pablo Sueiras, head of retail and hospitality leasing at Landsec, said: “Welcoming Hollywood Bowl to St David’s, in what will be the brand’s largest UK opening yet, further cements St David’s role as the go-to destination for the best brands and experiences in the region. Featuring Cardiff’s first confirmed electric go-karting experience, this latest signing strengthens St David’s appeal as a first-choice place for families in Cardiff and beyond.” Laurence Keen, chief financial officer for Hollywood Bowl Group, added: “We are excited to confirm plans to open a fantastic new family entertainment centre at the popular St David’s shopping centre in the heart of Cardiff. “Opening spring 2026, this will be our biggest new centre opening yet. Cardiff has a thriving leisure culture and we’re proud […]

Superdrug upsize leads duo of deals at Metrocentre

16th July 2025

Superdrug is set to upsize its store at Metrocentre in Gateshead, making it the health and beauty retailer’s largest in the region. This coincides with the scheme’s recent signing of Søstrene Grene, which will arrive later this year. Superdrug will upsize its unit within Metrocentre’s Red Mall to 10,000 sq ft, representing a 31% increase in size compared to its previous space. The new space will incorporate the retailer’s latest fit-out, which includes treatment studios and cosmetic services, alongside new signage, flooring, ceiling tiles, and energy-efficient LED lighting. Superdrug’s enlarged presence creates a wellness anchor within the Red Mall, sitting alongside brands such as Zara, Flannels, River Island, and upcoming arrivals, Stradivarius and Urban Outfitters. Meanwhile in the scheme’s Lower Green Mall, Søstrene Grene has signed for a 5,000 sq ft unit opposite Next. The retailer will offer home décor, furniture, craft items and gift ideas. This new addition will add to Green Mall’s existing tenant mix, joining the likes of ProCook, Clarks, and Holland & Barrett. Ben Cox, director at Sovereign Centros from CBRE, asset manager of Metrocentre, said: “We firmly believe that creating growth opportunities for existing brands is paramount to not just a successful tenant mix, but...

Next opens upsized store at Newcastle’s Eldon Square

15th July 2025

Next has opened its upsized store at Eldon Square in Newcastle. Spanning 33,694 sq ft, the store features all of Next’s key departments, including womenswear, menswear, kidswear, and homeware. It also includes a larger suit and shoe department, which has expanded by over 200 sq ft, whilst the home department has doubled in size. Next at Eldon Square features the retailer’s latest store concept design, which includes varied floor finishes, concealed LED lights, and minimalist ceiling applications. In addition, a new Bath and Body Works store has also opened within Next’s Eldon Square store, trading from 1,458 sq ft. Helen Cowie, centre director at Eldon Square: “We’re delighted to welcome NEXT’s latest concept store to Eldon Square – a stunning addition that brings more choice, enviable style, and a truly elevated experience for our visitors. With a beautifully designed space and exciting features like Newcastle’s first Bath & Body Works store, this opening reinforces Eldon Square’s position as the heart of city centre shopping. It’s an exciting milestone, and we look forward to seeing our shoppers enjoy everything this new flagship store has to offer.” Next’s arrival at Eldon Square follows the retailer’s recent opening at Lakeside in Essex, where it […]

Christie & Co appoints director to lead regional retail team

15th July 2025

Property adviser Christie & Co has appointed Anthony Meadowcroft as a regional director to lead its retail and leisure brokerage team in Scotland and the North of England. Meadowcroft joined the firm’s retail and leisure team in 2023, bringing several years of previous business brokerage experience. Anthony Meadowcroft said: “I am really proud to be stepping into the role of regional director, leading our fantastic team across the North of England and Scotland, especially as we celebrate Christie & Co’s 90th anniversary. I’ve been working in business brokerage since 2015 and since joining Christie & Co I’ve had the chance to work with some fantastic clients and colleagues on several high profile transactions. “I’m especially looking forward to building on that by focusing on two key areas: strengthening collaboration across our business to enhance the service we offer our clients, and developing our regional markets within convenience retail and roadside. It’s a great time to be part of Christie & Co and I’m excited about what’s ahead.” Steve Rodell, managing director of retail and leisure at Christie & Co, added: “Anthony’s appointment is an important step in the continuing development of the retail and leisure team which continues to grow in […]

London-based burger restaurant looks to expand across the UK

15th July 2025

A burger restaurant chain with three locations in London has released its list of target locations as it looks to increase its nationwide footprint. Burger & Beyond started as a food truck in 2015, and has since gone on to open permanent restaurants in Shoreditch, Soho, and Borough Yards. The operator – which offers a menu that includes burgers, chicken wings, and cocktails – is seeking properties ranging between 1,500 sq ft and 4,000 sq ft, with extraction required. Target locations include: Burger & Beyond has retained Stärka to find suitable locations.

East Grinstead coffee house investment heads to market

15th July 2025

A virtual freehold property in East Grinstead, West Sussex currently let to a coffee house operator has been placed on the market with a guide price of £478,000, reflecting a net initial yield of 8.0%. Located at Unit B in Queens Walk, the property extends to 1,700 sq ft and has recently been let to Coffee#1 on a 10-year lease, expiring January 2035 with a tenant-only break option six years in. The asset generates a total current income of £34,000 per annum, rising to £40,000 per annum from February 2027. It is situated below a modern newbuild development, which provides 129 residential dwellings. Located within the heart of East Grinstead, Queens Walk is home to tenants such as Pets Corner, Carlo Lounge, Xcelerate Gyms, Iceland, Peacocks, Boots Opticians, and Card Factory. Other retailers located on the adjacent London Road include Boots, Waterstones, Holland & Barrett, Poundland, Fatface, and White Stuff. Situated 27 miles south of London and 21 miles north of Brighton, East Grinstead is a popular commuter town with efficient road and rail links to London, Gatwick Airport, and the wider South East. Cited Property has been appointed to find a suitable purchaser.

Sosandar to halt new store openings as it lowers guidance

15th July 2025

Sosandar has said it will be pausing new store openings and will instead focus on bringing the six stores it has opened so far to profitability. This comes as the womenswear retailer reduces its guidance for the 2026 financial year after it made no sales through M&S – it’s second biggest third-party partner – since mid-April, after the retailer suffered a cyber attack. Sosandar now expects its revenue for the current financial year to be £43.6m, with a pre-tax profit of £0.4m. These figures have been revised from an expected revenue and pre-tax profit of £46.2m and £1.5m, respectively. However, these revised figures are still ahead of the retailer’s results for the 2025 financial year, during which it recorded revenue of £37.1m and a pre-tax profit of £0.2m. Ali Hall and Julie Lavington, co-CEOs of Sosandar, said: “During the last year we’ve strengthened the foundations of the business, which will enable us to deliver our growth and profit ambitions going forwards. Taking the decision to reduce price promotions has resulted in an expected reduction in revenue but significantly improved margins and cash generation which, in turn, has allowed the Group to maintain a robust balance sheet and self-fund its growth plan. […]

ProCook continues expansion with Cotswolds Designer Outlet opening

14th July 2025

Kitchenware retailer ProCook has opened at Cotswolds Designer Outlet, the newly-opened outlet shopping centre in Tewkesbury, Gloucestershire. This marks a fourth opening in 2025 for ProCook, as the retailer targets a medium-term goal of 100 stores nationwide. ProCook said the opening reflects its continued investment in expanding its retail footprint to meet growing demand for kitchenware across the UK. ProCook’s arrival at Cotswolds Designer Outlet follows the publication of the retailer’s annual results for the 2025 financial year, during which sales were up by 11% to £69.5m. During the last financial year, ProCook opened twelve new stores and is planning to add between five and 10 new locations in the year ahead. Joe Pennington, retail director at ProCook said: “Opening at the Cotswolds Designer Outlet marks another important step in ProCook’s ambitious growth strategy. Following a strong financial year, we’re building real momentum in expanding our physical retail presence, and this store brings us closer to our goal of reaching 100 locations nationwide. As a brand founded in Gloucestershire, it’s especially rewarding to grow in a region that reflects our heritage while reaching new customers with our unique, high-quality kitchenware offering.”