Retail Property News

The wellness trend: improving the health of UK high streets?

30th April 2026

From saunas to sound baths, vitamin injections to vitality checks, wellness-led concepts are quickly reshaping the nation’s high streets. The rise has been rapid, but there seems to be plenty of growth potential for the future – creating exciting opportunities in retail property.

Nuveen sells £2.9m Norwich retail block

30th April 2026

Nuveen has sold a retail block in Norwich which had been valued at £2,900,000 to a French SCPI (investment vehicle) for an undisclosed fee. The property at 23-33 Castle Street & 7-7a Castle Street comprises four retail units across 15,013 sq ft and is let to tenants including Dr. Martens, Pure Brides, and Castle Fine Art. The asset generates a total current income of approximately £295,000 per annum, with a weighted average unexpired lease term of 7.7 years to expiry and 4.1 years to break. Jonathon Mills, equity partner at Forge, which acted for the vendor, said: “It was great to help achieve a successful result for our long standing client, Nuveen, a TIAA company. The sales process generated significant interest from a range of UK private and overseas investors, which enabled us to conclude the sale via a competitive bidding process, ultimately culminating in a successful sale to a French SCPI.” Knight Frank acted for the buyer.

New retail and leisure partner appointment one of 57 promotions at Workman

30th April 2026

Workman has made 57 promotions, including seven partners, one of whom is in the commercial property management and consultancy firm’s retail and leisure team. The promotions span all 11 of Workman’s UK offices and cover a range of service lines, including property management, retail and leisure, building consultancy, client accounts, sustainability, compliance, and HR. Chris Church, who held roles at Avison Young and Cushman & Wakefield before joining Workman as an associate in 2020, has become a partner within the group’s retail and leisure team in London. The other six new partners include Michelle Barker in the Manchester office; Marcus Dodd, David Hall, and Olivia Hamilton in the London property management team; Ian Reynolds in the Milton Keynes building consultancy team; and Craig Watson in the Scotland building consultancy team. Matthew Pateman, managing partner at Workman, said: “We’re a property firm, but we’re really a people business. These 57 promotions are the clearest sign of that. People have grown here, built careers here, and are now leading the next chapter of what Workman is becoming. That’s exactly what we’re working towards — building the kind of firm where talented people can do the best work of their careers.” Charlotte Bradley, Workman’s […]

Frasers Group completes double acquisition of outlet centres

30th April 2026

Frasers Group has continued to grow its property portfolio with the acquisition of York Designer Outlet and East Midlands Designer Outlet. Spanning 250,000 sq ft, York Designer Outlet is home to 120 UK and international brands and welcomes around 4.3 million visitors annually. East Midlands Designer Outlet, located near the M1 Motorway, extends to 170,000 sq ft and hosts 65 brands with an annual footfall of 3.5 million. Although an acquisition price was not disclosed, it was previously reported that the two schemes could be purchased for a combined fee of approximately £400m. These reports come after Frasers Group acquired Swindon Designer Outlet last autumn. Situated within the historic Great Western Railway buildings in the centre of Swindon, the outlet centre extends to 250,000 sq ft and comprises 110 units. Frasers Group has been one of the most acquisitive groups within the UK retail investment market over recent years. The group acquired Glasgow’s Braehead Shopping Centre in November 2025 and Waterfront Retail Park in Greenock in September. Michael Murray, chief executive officer at Frasers Group, said: “These strategic acquisitions reinforce our vision, leveraging strong partnerships with leading global brands to unlock mutual value – supporting their outlet strategies while driving growth. Today, we own over […]

Retail warehousing vacancy rates reach lowest level since 2017

29th April 2026

Retail warehousing vacancy is now at its lowest level since 2017, according to new research from Savills. The report found that the retail warehousing sector had a vacancy rate of just 4.3% in 2025, underpinning modest rental growth of 0.1% to £21.03 per sq ft. This growth in rents follows a sharper increase of 7% in 2024 and brings total rental growth in the sector to 24.8% since 2016, following the end of the sector’s rent rebase. Savills said that occupiers have taken a more measured approach amid ongoing economic uncertainty, with operators assessing the impact of Budget-related fiscal changes, rising employment costs, business rates, and continued volatility in fuel and supply chain costs. The research also found that strong occupier retention has played a role in moderating headline rental growth. Savills revealed that fewer than 9% of operators have vacated an out-of-town unit across its deal book, with most exits reflecting relocations rather than withdrawals from the sector, limiting churn. Larger retail warehouse units of 20,000 sq ft and above have recorded stronger rental increases, with rents rising 17.8% in 2024 and a further 8.2% in 2025 to £15.32 per sq ft, driven by demand and availability of quality […]

CBRE brings £67m sale-and-leaseback portfolio of 10 stores to market

29th April 2026

CBRE has brought a £67m sale-and-leaseback portfolio of 10 The Range stores to market. Six of the assets are located in England, with one in Wales, two in Northern Ireland, and one in the Republic of Ireland. The Range will provide 15-year lease terms on the properties with no break options with five-yearly CPI-linked rent reviews. The properties will all be on full repairing and insuring leases. Suzie Lisle, senior director of UK Retail at CBRE, said: “Our client is carrying out this process to recycle capital from its existing freehold portfolio to support further store expansion. The Range is a widely recognised, long-standing business that will provide investors with a stable income in what is becoming an increasingly popular strategy across the retail sector.”

Ben & Jerry’s opens first UK mall kiosk at Merry Hill

29th April 2026

Ben & Jerry’s has opened its first-ever kiosk within a UK mall at Merry Hill in the West Midlands. Spanning 270 sq ft, the kiosk is located close to the recently renovated M&. S, between Pandora and Beaverbrooks. The opening builds on a landmark 2025 for Merry Hill, during which a number of new F&B brands opened in the scheme’s leisure quarter, including Burger & Sauce, Heavenly Desserts, and Toledo Lounge. It also comes after the scheme’s recent acquisition by Redical. Alistair Winning, leasing manager at Redical, said: “The opening of globally recognised brand Ben & Jerry’s elevates the prime F&B line-up at Merry Hill, aligning with the centre’s diverse offer, and showcases our continued leasing strategy to provide guests with a distinctive and entertaining experience. The decision by such a prominent and internationally successful brand to debut its new concept here proves Merry Hill’s desirability, and position as a leading super-regional destination.”  Chris Braeger, head of franchising, Ben & Jerry’s UK, added: “The decision to launch our first UK mall kiosk at Merry Hill was an easy one, given the destination’s vast catchment, high footfall and well-rounded, all-day experiential offer.”

M Core snaps up over 218,000 sq ft of retail space in pair of shopping centre acquisitions

29th April 2026

Sheet Anchor Evolve, part of M Core, has acquired 218,472 sq ft of retail space with the purchase of two shopping centres. The group has acquired Eldon Garden in Newcastle City Centre and Northfield Shopping Centre in Birmingham, with Sheet Anchor Evolve set to asset manage both schemes. Eldon Garden is a 80,000 sq ft city centre shopping destination located on Percy Street, with direct access to Eldon Square and a 480‑space car park. The scheme is arranged over three levels, comprising a shopping mall across two floors with prominent frontage onto Percy Street. Current occupiers include Tesco, The Goose Public House, Hunters Estate Agents, Mode Hairdressing, and PureGym, alongside a central café and restaurant space. Northfield Shopping Centre comprises 138,472 sq ft across 43 units and two kiosks, located approximately six miles south of Birmingham city centre. The scheme serves a large catchment that includes Longbridge, Bournville, and Kings Norton, and occupies a prominent position in the heart of Northfield town centre. The centre is currently home to a mix of retailers, that includes Greggs, JD Sports, Superdrug, Iceland, B&M, and anchor tenants Peacocks and Poundland. It is also supplemented by a multi‑storey car park that provides around 400 […]

Antler opens flagship store on London’s Regent Street

29th April 2026

Antler has opened a flagship store at 100 Regent Street in London. The British travel brand’s new store – which is the first under its new ownership – extends to over 2,400 sq ft across two floors and offers a range of modern and functional travel goods. Located within one of London’s most prestigious shopping districts, Antler joins the likes of Burberry and Mulberry within the local area. The Regent Street opening follows four consecutive years of double-digit growth at Antler, with global sales reaching £52m, up by 17% year-on-year. Strategic investment into new product categories including bags and accessories has broadened Antler’s reach beyond core luggage to grow its consumer base, placing the brand on track to reach £100m in global sales by 2029. Kirsty Glenne, CEO of Antler, said: “The opening of our Regent Street flagship is a defining moment for Antler and a powerful statement of our ambition. This store brings our brand to life as a destination that expresses our values, our heritage and our confidence in the future of physical retail, while creating a new, meaningful way for customers to engage with Antler. Regent Street provides the perfect stage for the next chapter of Antler’s […]

GARAGE picks Manchester Arndale for debut North West location

28th April 2026

Montreal-based lifestyle brand GARAGE is set to open one of its first UK stores outside of London at Manchester Arndale. The retailer, which operates 231 stores across North America, will be opening its debut location in the North West at the shopping centre, following openings on London’s Oxford Street and at Bluewater, Kent. GARAGE will look to appeal to a strong concentration of Gen Z customers at Manchester Arndale, which benefits from an annual footfall of over 40 million and a local student population that exceeds 100,000. Scott Linard, portfolio manager for M&G Real Estate, said: “We are delighted that GARAGE has selected Manchester Arndale for one of its first North West locations. Following recent openings, this addition further enhances our retail offer and complements our existing tenant mix. Our strategy remains focused on curating a strong lineup of best-in-class brands to meet the evolving demands of visitors from Manchester and beyond.” Steve Gray, head of European retail asset management at Global Mutual, said: “Bringing GARAGE to Manchester Arndale is a fantastic addition to our growing fashion line-up. The brand has built a strong reputation internationally, and we’re proud to be the destination chosen for its first store in the...

Lidl unveils wish list of over 100 target locations

28th April 2026

Lidl has unveiled its latest list of target locations as it looks to expand its estate. The discount supermarket retailer is actively seeking freehold, leasehold, or long-leasehold sites, and said it would offer a competitive finder’s fee to anyone who successfully identifies a previously unknown site that leads to a developed store. Locations include Garthdee in Aberdeen and Aldgate in London, to Ystradgynlais in Wales and Windsor in Berkshire. Richard Taylor, Chief Real Estate Officer at Lidl GB, said: “At Lidl GB, we currently have one of the most ambitious store opening programmes of any supermarket and we are more committed than ever to bringing our high quality and low priced products to even more communities across the country. “All of our stores deliver more than just affordable products. Each one also brings quality jobs, opportunities for British suppliers to showcase the best of our home grown produce and support to local good causes in the communities each one serves. In uncertain times, shoppers and communities can count on us.” Earlier this month, the retailer confirmed plans to open over 50 new stores over the next 12 months as part of a £600m investment. The supermarket has held a 33-month streak as […]

Outlet Shopping at The O2 adds duo of retailers as New Balance upsizes

27th April 2026

Outlet Shopping at The O2 in London has completed two new retail signings, as existing tenant New Balance upsizes at the outlet shopping centre. Søstrene Grene has secured a 4,850 sq ft space at the entrance to the scheme, adjacent to Hackett. The retailer will add to the destination’s home and gifting offer, delivering a range of Scandinavian-inspired stock spanning homewares, small furniture, and lifestyle and crafting products. This store is due to open in May and will be Søstrene Grene’s first location within an outlet destination. Also joining Outlet Shopping at The O2 will be menswear retailer Suit Direct, which has signed for a 1,827 sq ft store. The brand will stock a range of men’s suits and accessories, including third-party brands such as Marc Darcy, Antique Rogue and an exclusive Ted Baker casualwear selection. These signings come after an upsize from longstanding tenant New Balance. The footwear and apparel retailer has increased its store footprint to 3,129 sq ft, a response to sustained consumer demand for athleisure and sportswear. This news follows the arrival of Maki & Ramen for its first London opening at The O2’s Entertainment District. Louisa Dalgleish, leasing director at Outlet Shopping at The O2, said: “Following a...