Retail Property News

Entertainment and dining destination to join Newcastle’s Eldon Square

5th February 2025

Manchester-born entertainment and dining venue Freight Island is set to open at Eldon Square in Newcastle this autumn. Inspired by New York’s Coney Island and Copenhagen’s Tivoli Gardens, Freight Island has taken a 15-year lease for 60,000 sq ft on the top floor and roof of the former Debenhams store. Freight Island at Eldon Square will act as both an indoor and outdoor space, offering food and drink, music, and entertainment. The venue will host a curated selection of eateries and food traders, including a service-led restaurant, street food stalls, and a food hall with communal seating underneath a retractable roof. Another key feature of Freight Island will be the purpose-built ‘Music Box’ – a venue for live music and touring acts. This will enable Freight Island to host a number of events such as corporate gatherings, art showcases, theatre, national theatres, and international tours. Dan Morris, co-founder and managing director of Freight Island, said: “This venue has been designed with scale, prominence, and long-term investment in mind, and we’re delighted to have worked with Pradera Lateral, XPE Group plc and Newcastle City Council to bring it to Newcastle. We hope to replicate the huge success of Freight Island in Manchester, […]

Metrocentre makes fast start to 2025 after record-breaking year

5th February 2025

Metrocentre has made a fast start to 2025, following on from a record-breaking year for both sales and footfall at the Gateshead scheme. So far in 2025, footfall has increased by 9.2% year-on-year, bolstered by the completion of a near 300,000 sq ft of deals last year. This January growth comes as Metrocentre announces its figures for 2024, a year during which it welcomed 15.8 million visitors, a 10% increase on 2023. Sales performance also increased at Metrocentre in 2024, up by 5.3% year-on-year. The food and beverage, sports fashion, and health and beauty categories saw the biggest increases, with the latter recording an uptick in sales of 8.2% over the course of the year. The year was capped off by an increase in festive footfall, going against national trends. In December, Metrocentre welcomed two million visitors, up by 2.9% vs December 2023, and footfall during the final week of the year outperformed 2023 by 30%. Over the course of the year, Metrocentre introduced 21 new brands, including Sephora, Mango, and Reiss, alongside regional debuts for Sosandar and GO Outdoors. River Island, Primark, Victoria’s Secret, and Clarks were four of 17 existing tenants that upsized or refurbished their stores over...

GPE appoints new chair designate

4th February 2025

Great Portland Estates (GPE) has announced the appointment of William Eccleshare as a non-executive director and chair designate, effective from May 1st. He will succeed Richard Mully, who retires as chair of the board after more than eight years of service. Eccleshare has leadership experience in both executive and non-executive roles. He is currently a non-executive director and senior independent director at Centaur Media and Chairman of Team ITG, a privately owned digital media business. He is also chair of the Design Council – a Royal Charter charity and the UK government’s strategic advisor on design. He was previously a non-executive director and senior independent director of Britvic until its recent acquisition. Other roles he has previously held include non-executive director at Hays, deputy chair of Clear Media Limited, and executive vice-chair of Clear Channel Outdoor Holdings. Eccleshare’s executive career was spent in advertising, media, and consumer-focused businesses in senior leadership and commercial roles. Most recently, he spent thirteen years at Clear Channel Outdoor Holdings where he was chief executive from 2012 to 2021 and led the company’s listing on the New York Stock Exchange in May 2019. He was also chair and chief executive of BBDO Europe between 2005 and […]

LEGO to open first store in Northern Ireland at Victoria Square

4th February 2025

The LEGO Group is set to open its first store in Northern Ireland at Victoria Square in Belfast. Opening this summer, the 1,776 sq ft store will offer features such as a ‘pick a brick’ wall, a minifigure tower, and monthly events. This letting follows recent leasing activity from the likes of The White Company, Rituals UK & Ireland, Knoops, and JD Sports Fashion, which have all opened new or larger stores at Victoria Square. Russell Banham, UK Head at Commerz Real, Victoria Square’s asset manager, said: “The LEGO Group is one of the world’s most recognisable brands and we are really excited that they have chosen to establish their first flagship store in Victoria Square. Victoria Square is the leading destination for retail and leisure in Northern Ireland and the addition of a LEGO Store will further enhance the unrivalled mix of premium brands who have already made it their home. This is great news, not only for LEGO fans, but for the wider retail landscape in Northern Ireland.” Cushman & Wakefield acted for The LEGO Group. Savills and Lambert Smith Hampton acted for Commerz Real.

Evolve Estates acquires Leicester open-air shopping centre

4th February 2025

Evolve Estates, part of commercial property and investment company M Core, has acquired the Beaumont Leys community shopping centre in Leicester. Sitting on a 10-acre site, the scheme is the area’s dominant local retail offering, serving a local catchment of 670,000. The acquisition was completed as part of a joint venture with M Core. Beaumont Leys is anchored by Tesco Extra and Aldi, with key tenants including B&M, McDonald’s, Poundland, and Boots. The shopping centre has three car parks, which provide 1500 free car parking spaces and 12 EV charging points. The shopping centre has benefitted from recent investment, including the development of a drive-through unit for Starbucks, and B&M’s commitment to the former Wilko unit on a 10-year lease. Sebastian Mcdonald-Hall, partner at Evolve Estates, said: “The shopping centre is perfectly positioned for the local community; Beaumont Leys is a key district within Leicester and is home to several attractions that contribute to its vibrant life.  “Beaumont Leys is experiencing significant investment and residential development, and the area is a focal point for new housing projects that serve the wider Leicester area.   “Our team will build on the success, ensuring the asset continues to serve the local community with […]

Mango to open 20 stores in 2025

4th February 2025

Mango is set to open 20 new stores in 2025 as its ramps up its expansion plans. The openings – which form part of the Spanish fashion retailer’s strategic growth plan for 2024-26 – would bring Mango’s trading estate to over 90 stores in the UK. Six of the new openings will be located in London, including a second flagship store on Oxford Street, as well as stores on Kensington High Street and Long Acre, Covent Garden. The retailer will also be expanding across the UK and Ireland, opening stores in Birmingham, Glasgow, Dundee, Aberdeen, Belfast, Craigavon (NI), and Cardiff. Mango – which operates in around 70 UK locations – opened over 20 stores in 2024. Daniel López, director of expansion and franchising at Mango, said: “The UK is one of the priority markets for Mango’s international growth. Our 2025 expansion plan follows the store openings success in 2024 to move forward in capillarity and getting even closer to our customers with stores in which we can offer them the Mango experience.”

Hospitality leasing heavyweight launches advisory firm

4th February 2025

A well-known name in hospitality leasing has launched One Voice Hospitality, a new ‘360º’ advisory business. Ted Schama – who is also a joint managing partner at Shelley Sandzer – has founded the firm as a means to bring together operators, landlords, and corporate finance. Based in London, One Voice Hospitality will work to create commercial partnerships at both a national and international level. Ted Schama said: “While so many aspects of the industry have changed in the last five years, people remain at the heart of it and are why I have created One Voice Hospitality. We place relationships centrally in decision-making through an eco-system in which parties come together to maximise opportunities. We offer clients, whether landlords, operators or investors, a full range of services, but our difference is that it is an integrated offer, rather than specialisms acting independently of one another.” One Voice Hospitality is already working with several landlords and operators and is also advising a number of hospitality business corporate finance projects. Schama has over 30 years’ worth of experience in the hospitality sector, working on a range of high-profile locations. He has played a role in a number of landmark deals, including Sushisamba’s debut on […]

Bruce Gillingham Pollard appoints associate director

3rd February 2025

Retail, leisure and F&B agency Bruce Gillingham Pollard has announced the appointment of Tom Cater as an associate director in its lease consultancy team. He joins from Gerald Eve (now Newmark) where he spent 10 years specialising in lease consultancy and advising on occupational agency across high street retail and leisure assets. In his new position, Cater will work with lease consultancy director Peter Wood across Bruce Gillingham Pollard’s portfolio of instructions, with a particular focus on the Landsec account. Tom Cater said: “I’m excited to join such a forward thinking company which is a true market leader in its sector. “I look forward to working with Pete to drive the national lease consultancy offering for both new and retained clients.”

Moss to open new Birmingham store as part of portfolio refresh

3rd February 2025

Menswear brand Moss is set to open a new store in Birmingham as part of a wider refresh of its store estate. The retailer – which rebranded from Moss Bros. in 2023 – will open at Hammerson’s Bullring shopping centre in May, Drapers reports. This comes after Moss closed its store at 299 Oxford Street in London last week for a 12-week refurbishment. An additional floor has been added to the store, which will trade from three storeys when it reopens before Easter. The retailer will also complete resites in two to three major cities by the end of the year. Brian Brick, CEO of Moss, told Drapers that the pandemic allowed the business to “streamline” and undergo a “reset”. The retailer was taken private in 2020 after it was purchased by a group of private investors led by Menoshi Shina, the US-based owner of Crew Clothing, for £22.6m. Brian Brick has been CEO since 2009.

KLM Real Estate appoints pair of associate partners

3rd February 2025

KLM Real Estate has promoted James Williamson and Henry Gittins to the role of associate partner. Williamson joined KLM Real Estate in 2021 and works in the firm’s retail and leisure agency team. He acts for landlord clients including L&G, NFUM, Tideway, as well as occupiers such as Dave’s Hot Chicken, IWG, Auntie Anne’s, and Adventure Leisure. Gittins has been with KLM Real Estate since 2019 and provides retail agency and lease consultancy advice to the firm’s client roster which includes The Crown Estate. Most recently, he advised Starbucks on its expansion across London. James Andrews, partner at KLM Real Estate, said: “These promotions reflect the significant contribution that James and Henry have made to our business and the high standard of service they have given our clients. We look forward to guiding them in their continued career development.”

Wingstop opens second Welsh restaurant in Swansea

3rd February 2025

Wingstop has opened its first restaurant of 2025 and its second in Wales on Wind Street in Swansea. Located adjacent to a number of restaurants, bars, and pubs, the 2,762 sq ft site plays host to 115 covers and offers the brand’s signature range of chicken wings. Wingstop opened its first restaurant in Wales in 2023 in Cardiff, and currently operates 57 sites across the UK as a whole. Last month, the operator announced record expansion plans for 2025, with 20 new restaurants expected by the end of the year. Chris Sherriff, CEO at Wingstop UK, said: “We’re starting the year as we mean to go on with a strong pipeline of new openings, the first of which in Swansea. We’re excited to bring our delicious wings and flavours to more people in South Wales, having proved popular in Cardiff. As we continue our rapid UK expansion journey, I want to say thank you to our loyal customers and the hard work of our teams. We look forward to bringing flavour to the city of Swansea.”

Loungers opens first covered mall restaurant at Merry Hill

3rd February 2025

Loungers has opened its first restaurant within a covered mall environment at Merry Hill, joining the Dudley destination’s 55,000 sq ft leisure quarter. The 3,200 sq ft restaurant – called Toledo Lounge – offers an all-day menu, featuring brunches, evening tapas, salad, and burgers. The opening adds to the £12m investment made into Merry Hill’s leisure quarter over the past three years, with Loungers joining brands such as Hollywood Bowl, ASK Italian, Wagamama, and Wingstop. Alistair Winning, asset manager at Sovereign Centros from CBRE, said: “The leisure quarter is going from strength to strength, with record performance and a nearly complete collection of best-in-class casual dining, strengthening our F&B portfolio. The arrival of Toledo Lounge builds on this momentum, bringing a welcoming space that aligns perfectly with what we have created here; a vibrant destination for visitors to enjoy as part of either a full day-out or a leisure and dining specific visit.” John English, head of community at Loungers, added: “We’re so excited to be part of Merry Hill and to bring our ‘home-from-home’ atmosphere and innovative menu to such a thriving destination. Community is at the heart of what we do, and we’ve made sure Toledo Lounge is a...