Retail Property News

Space NK picks Bullring for largest store outside of London

19th March 2025

Space NK is set to open its largest store outside of London at Hammerson’s Bullring shopping centre in Birmingham. The beauty brand’s 5,500 sq ft store will be located on the scheme’s Upper Level East, adjacent to AllSaints, Coach, and Dr Martens. Opening this summer, the regional flagship will span 4,356 sq ft of trading space, and will feature a dedicated consultation area for make-up and skincare. The signing comes after a successful year for beauty sales at Bullring & Grand Central, making it the best-performing category at the destination. This was bolstered by the openings of Sephora’s West Midlands flagship and the regional debut of Korean beauty retailer PURESEOUL. The new additions added to the existing roster of beauty and wellness retailers at Bullring, which includes Boots, Kiko Milano, and Selfridges’ beauty and cosmetics hall, as well as Grand Central’s line-up which features the likes of Kiehl’s, L’Occitane, and MAC. Paul O’Brien, director of leasing and commercialisation at Hammerson, said: “Bullring and Grand Central continues to be the place to go for health and beauty in Birmingham. Hammerson’s strategy of creating best-in-class spaces for international brands seeking a flagship presence in destinations that out-perform is evidenced by Space NK’s decision […]

Superdrug targets 25 new store openings this year

19th March 2025

Superdrug is planning to open 25 new UK stores in 2025, with a particular focus on shopping destinations and retail parks. The high street retailer said the new stores will see more investment in beauty treatments and luxury fragrances as it looks to capitalise on strong demand from shoppers. Superdrug – which operates 780 stores across the UK and Ireland – said it will also be refurbishing 65 existing stores and expanding those in locations such as Luton and Dundee. Much of the investment will be focused on offering more beauty treatments to customers, such as ear piercing, manicures, and eyebrow threading. Superdrug said its in-store beauty studios saw a 7% increase in sales in 2024. Nigel Duxbury, property director at Superdrug, said: “We want everyone who enters Superdrug to feel an elevated customer experience. “For us, this is not about a quick and easy purchase, it is about engaging customers with added extras that truly enrich their everyday lives.   “Be that through updated cosmetic stands which can be found in our Brent Cross store, or via great beauty treatments that everyone can afford regularly, or through private clinics that give face-to-face access to healthcare professionals.   “We can...

Cornish Bakery explores sale options

19th March 2025

Cornish Bakery has appointed an advisory firm to oversee a sale of the business. The bakery and coffee shop brand – which has 66 branches across the UK – has appointed Tamweel Capital, a mergers and acquisitions and private equity advisory business, to explore its options. Beginning in a small fishing village in Cornwall, Cornish Bakery has since expanded into tourist hotspots, high streets, retail outlet centres, motorway services, and event spaces such as the NEC in Birmingham. Since launching, Cornish Bakery has seen sustained year-on-year growth, with revenues and site earnings (EBITDA) for the 12 months to May 2025 expected to reach £37m and £8.3m, respectively, while like-for-like sales are set to grow by approximately 9%. It also sits within the fast-growing bakery coffee shop segment – which is forecast to grow at around 9% per year from 2025-2027. Under the leadership of managing director Mat Finch, Cornish Bakery has continued its strong momentum, reporting 26% revenue growth in the second half of 2024. During this period, it opened shops in Nottingham, Taunton, Winchester, Chelmsford, Milton Keynes, and Cirencester – and has opened 18 new bakeries since 2022. Eight additional stores set to launch in the coming months. Ali Aneizi, […]

Rapleys acquires retail agency team from Avison Young

19th March 2025

Property consultancy firm Rapleys has acquired a team of six retail agency and investment agents from Avison Young as it looks to accelerate its growth. Dan Kent, formerly principal and managing director of UK retail at Avison Young, has joined Rapleys as head of retail and an equity partner, bringing his whole team over. Joining Kent are partners Scott Mitchell and Rob Fraser, senior surveyor Ella Traynor, and surveyor Rian Dunne, with an associate partner set to arrive in the near future. All team members will be based in Rapleys’ London office. The team has extensive experience across out-of-town, high street, and shopping centre retail and leisure, retail investment as well as foodstores, where Rapleys is a market leader. The team advises a number of large retail occupiers including Sainsbury’s, Argos, Boots, Boots Hearingcare, Sue Ryder and BFT (Body Fit Training). The team also advises major institutions, investors, developers, and high net worth clients including LondonMetric, Aberdeen, AXA , KFIM, Quadrant Estates, Manchester Airport Group, University of Sheffield , Kilo Properties, Alterity Investments, Augur Group, and NGM Inv. Over the past two years, Rapleys has acquired five other businesses, including CSJ (planning), Aston Rose (commercial), Mellersh & Harding (commercial – […]

LEGO builds on Manchester Arndale success with store upsize

19th March 2025

The LEGO Group is set to build on its success at Manchester Arndale with the opening of an upsized store at the shopping centre. The toy brand will be taking the former Morphe unit next door to its current store – which it has occupied for almost 15 years – increasing its presence from 2,934 sq ft to 7,434 sq ft. LEGO’s new store will include features such as a ‘Pick a Brick Wall’, a ‘Build a Minifigure Tower’, and opportunities for hands-on play such as free build challenges and events. The relocation comes after LEGO opened its 20th UK store at Cribbs Mall, Bristol in 2024. Steve Gray, head of European retail asset management at Global Mutual, joint asset managers of Manchester Arndale, said: “It is great to see LEGO commit its long-term future to Manchester Arndale with a new larger store. LEGO is one of our most popular retailers and we expect their enhanced space will attract even more shoppers. The commitment of leading retailers such as LEGO highlights the belief international brands have in Manchester Arndale which continues to attract visitors from across the North West and beyond.” Shweta Munshi, vice president of marketing, LEGO retail at the LEGO Group, added: “We […]

New owner of The Original Factory Shop considers store closures in restructuring plans

18th March 2025

The new owner of The Original Factory Shop (TOFS) is considering closing stores and slashing rents as it draws up plans for a restructuring of the retailer. Modella Capital – which acquired the discount retailer just weeks ago – has called in advisers from Interpath to explore options for TOFS, Sky News has reported. These options include a potential Company Voluntary Arrangement, which could see the closure of underperforming stores and rent reductions on others. Sky News reports that a major distribution centre could also be included in potential proposals for restructuring. TOFS – which was founded in 1969 – trades from around 120 stores in the UK. It was acquired by Duke Street in 2007 before being taken over by Modella Capital – which is one of the two remaining parties in the race for WHSmith’s high street division. Modella Capital is also reportedly pursuing a restructuring of the Hobbycraft chain, which it acquired last summer.

Ikea’s delayed Oxford Street store to open in May

18th March 2025

Ikea has announced its new store at 214 Oxford Street in Central London is set to open on the 1st May. The Swedish homeware retailer’s new city store will span 62,431 sq ft across three floors, occupying the ground and two lower ground floors of the building. It will feature a showroom, a market-hall with home furnishings accessories, planning appointments, and a Swedish Deli. The opening follows a three-year renovation, which included work to enhance the store’s environmental performance whilst looking to preserve the building’s heritage features. In addition to the Ikea store, the renovated building will feature three other retail outlets and four floors of office space. The opening was initially pushed back to autumn 2024 before being delayed again after renovation works revealed “unexpected conditions” at the Grade II-listed building. The development has been led by Ingka Investments, the investment arm of Ikea’s parent company and the owner of the building. Peter Jelkeby, CEO and chief sustainability officer at Ikea UK, said: “We have worked carefully to ensure we maintain the character of this historic building whilst creating a modern retail environment for customers to explore and be inspired. “London is an iconic shopping destination, and we are […]

Developer completes trio of Northern retail projects

18th March 2025

Northern developer Almscliffe-Dhesi (AD) has completed three major retail projects in the North East of England and North Lincolnshire. The developments in Peterlee, Crook, and Scunthorpe are each home to national retailers and open for business. In Peterlee, AD has transformed a disused Vauxhall car dealership on the outskirts of the town into a local convenience cluster. Tenants at the 13,027 sq ft development include Sainsbury’s, The Tanning Shop, Greggs, Dominos, CVS Vets, and EVC Electric Vehicle Chargers. The Peterlee development is for sale, with a final 1,250 sq ft unit available to let. In Crook, AD has bought a redundant 2,240 sq ft unit on South Street which has been divided in two, with Domino’s and Banking Hub now in residence. This development is also for sale. In Scunthorpe, AD has completed a 7,300 sq ft roadside scheme that includes a Starbucks drive-through, a Co-op, and The Tanning Shop, along with electric vehicle charging ports. The Starbucks unit has been sold to the franchisee K Beverage, whilst the rest of the development has been acquired by a private investor. Alongside these new openings, AD has also commenced work on a new retail development at Faverdale in north west Darlington. […]

London-based clothing brand to open King’s Road pop-up

18th March 2025

London-based clothing brand Minka Dink is set to open a pop-up store within the Sloane Stanley Estate on Chelsea’s King’s Road. The brand will take a 1,728 sq ft unit at 324-326 King’s Road for three weeks, showcasing its womenswear collections as well as the first drop of its Spring-Summer 2025 range. This will be the second pop-up store within the Sloane Stanley Estate for Minka Dink, which was launched as a passion project during the pandemic. Other brands that have chosen the estate for their physical retail debuts include Chinti & Parker, Prochaine, KayaNuka, and Seraphina. Minka Dink also joins Pepites – the boutique stocking womenswear, accessories, and jewellery – which has opened a pop-up at 281 King’s Road. Hannah Grievson, property director at Sloane Stanley, said: “Minka Dink achieved so much success during its first ever pop-up with us here last year, and to host its second pop-up is a real testament to the opportunities we provide for independent brands to thrive. Entering physical retail can be a daunting experience, especially for brands that have built a strong following on social media, and our role is to make it that little bit easier, providing guidance and support at […]

M&S to open new store on Clapham High Street

17th March 2025

Marks & Spencer is set to open a new store at 156-164 Clapham High Street, taking space previously occupied by Eco Restaurant and Superdrug. The retailer has signed a 20-year lease for the unit, which comprises approximately 8,300 sq ft of ground floor sales area alongside 3,400 sq ft of basement ancillary space. The store – which will be located next to Clapham Common Tube Station – is set to open in September and will follow M&S’s ‘food hall’ fit-out, similar to its locations in Brixton and St John’s Road, Clapham Junction. Eco has relocated to a new restaurant at 73 Venn Street. GCW advised the landlord Eco Group, whilst FMX represented M&S.

New Look to relocate to new concept store at Bluewater

17th March 2025

New Look is set to relocate its store at Bluewater in Kent, opening a new 12,120 sq ft concept store. The fashion retailer’s new store will be located on the scheme’s Upper Thames Walk and is due to open at the beginning of April. The new upgraded space will look to integrate new initiatives including digital inspiration, showrooms, and displays as a means to provide an enhanced shopping experience. It will also feature a dedicated service hub designed to improve collections and returns. James Waugh, centre director at Bluewater, said: “Here at Bluewater, we are always looking for ways to elevate our offering so that we remain in step with the ever-evolving retail landscape. “We are excited to announce the relocation of New Look’s new concept store on the bustling Upper Thames Walk. Their relocation exemplifies the brand’s commitment providing Bluewater’s guests with the best possible shopping experience. We encourage guests to visit the store on opening day to experience the array of exclusive deals on offer.” Elaine Cartwright, retail director at New Look, added: ‘Our decision to relocate and re design our Bluewater store demonstrates our commitment to bricks and mortar retailing in the UK & the important part stores play […]

Screwfix to open 35 stores in a year

17th March 2025

Screwfix is planning to open 35 stores across the UK and Ireland by the end of January 2026. The hardware retailer said that the majority of the stores will be of its new smaller format ‘Screwfix City’, which has been designed for higher footfall locations. Screwfix opened seven of these ‘City’ stores in the year to 31st January 2025, with the concept aimed towards busy tradespeople in urban areas. The stores also offer Screwfix Sprint, a delivery service that looks to provide products on-site or at home in under an hour. John Mewett, chief executive of Screwfix, said: “We’re proud to continue Screwfix’s amazing growth with our plans to open up to 35 new stores within the next twelve months. “Despite the challenges facing the retail industry, investing in our store network remains central to how we can best support tradespeople to get their jobs done quickly, affordably, and right first time. “Our customers continue to be busy, and we know how important it is to be near a Screwfix store. We are driving forward with our store openings and continuing to focus on providing the ultimate convenience for our customers through our ultra-compact store format, Screwfix City and rapid...