Retail Property News

HLRE expands with investment partner appointment

10th February 2026

Out-of-town advisory firm HLRE has expanded its team with the appointment of Archie Stead as an investment partner. He joins from the National Investment team at Allsop, bringing over 14 years’ of experience in the out-of-town retail sector. He has also previously held positions in the JLL Retail Capital Markets team. Throughout his career, Stead has advised on the acquisition and disposal of out-of-town investment assets across the UK. He as acted for a range of clients, including international and domestic investors, institutions, real estate investment trusts, high net worth individuals, and French SCPIs. In his new role at HLRE, Stead will look to leverage his market knowledge to deliver strategic advice to clients and colleagues. HLRE was launched in autumn 2025 by seven surveyors, previously of Stockford Anderson.

Research shows emerging brands to open 12,000 new UK stores

10th February 2026

Emerging brands in the UK could open 12,000 new stores over the next three to five years, according to new research from Savills. According to the international real estate advisor, over 1,500 multi-site brands grew their estates last year, delivering 8,200 new stores, with 390 operators opening at least five locations. The research found that the total number of active brands has increased by nearly 50 in two years, highlighting a market that is both active and broadening. Savills said that while established chains remain central to the market, accounting for the majority of total store numbers, incremental growth is now coming from smaller operators which are scaling at a faster rate than at any point in the past decade. According to the research, around half of all new openings in 2023 were delivered by brands operating more than 100 stores, while approximately a third came from operators with fewer than 50 sites. By the end of 2025, this dynamic had shifted, with brands operating fewer than 20 stores accounting for a quarter of all new openings, up by 7% against 2023. Alan Spencer, head of UK retail at Savills, said: “It’s an exciting time for the market given the number...

Cornish Bakery to launch first Welsh location in flurry of new openings

9th February 2026

Cornish Bakery is set to launch its first location in Wales, as the operator prepares to open six new bakeries by May. The new openings will be in Newbury and Lincoln in March, Betws-y-Coed (Wales), Gunwharf Quays, and Wells in April, and Witney in May. A total of £3.5m will be invested across the new locations, alongside a further £500,000 dedicated to refurbishing four existing bakeries in West Bay, Lyme Regis, Ambleside, and Bourton on the Water. Betws-y-Coed, on the eastern edge of Snowdonia, marks the independent operator’s first footprint in Wales, and will be the chain’s largest ever property. Despite its small size as a village, the area is popular with walkers, climbers, and cyclists. Betws-y-Coed will also introduce Cornish Bakery’s new brand extension, ‘RISE by Cornish Bakery’. At Gunwharf Quays in Portsmouth, as part of a recent shopping outlet redevelopment, Cornish Bakery is relocating to a new two storey property. Additionally, this will be the second bakery to showcase the ‘RISE by Cornish Bakery’ concept. These licensed bakeries will expand the traditional coffee and bakery offerings to include additional small plates designed for brunch, lunch and early evening dining. Guests will also be able to drink beers from Harbour […]

Retail and leisure at London’s SIXTY SLOANE nears full occupancy

9th February 2026

Savills and Hanover Green, on behalf of Bain Capital and CIT, have completed a trio of retail and leisure lettings in 2026 at SIXTY SLOANE in Chelsea, bringing the mixed-use development to near full occupancy. Together, the signings extend to a total of 15,000 sq ft of retail and leisure space, with only unit remaining which is currently under offer. Luxury private members health club KX has committed to an additional 7,000 sq ft across Unit 1, which adds to its 16,500 sq ft existing space over ground and basement floors. This expansion looks to significantly elevate the member experience, introducing an enlarged world-class wellness and spa facility alongside enhanced fitness zones and hospitality areas. Meanwhile, a new 5,000 sq ft restaurant from the owners of Chucs and Langans is going in to Unit 2. In addition, premium swim school operator GetSetSwim has signed for its fourth location at Unit 3. Opening in spring alongside a second new site in Fulham, the club continues GetSetSwim’s London expansion, joining existing locations in Putney and Golders Green. These operators will join luxury Italian tile showroom Bisazza, which opened in Unit 4 in late 2025. James Fairley, director in Central London retail at […]

Wingstop continues UK expansion with Manchester Arndale signing

9th February 2026

Wingstop has continued its UK expansion after signing for a new restaurant at Manchester Arndale. The operator has agreed a five year lease for a 5,928 sq ft unit, formerly occupied by YO! Sushi. Wingstop – which operates over 85 restaurants in the UK and Ireland – will offer its range of wings, tenders, and burgers, as well as milkshakes and desserts including dips and churros. The signing of Wingstop at Manchester Arndale follows a trio of lease renewals from major UK retailers at the scheme. Argos and Lush have signed for further five-year leases a13,321 sq ft unit and a 2,972 sq ft, respectively, while Lovisa has committed to a further 10 years at the destination, continuing to occupy a 631 sq ft unit. Scott Linard, portfolio manager for M&G Real Estate, said: “We are thrilled to welcome Wingstop to our vibrant F&B offer; an addition we’re sure will resonate with our younger visitors. With the additions of popular restaurant chains like Wingstop, coupled with the arrival of new retailers such as Arc’teryx, Alo Yoga, Pro:Direct and Sephora, we are strategically creating a destination where people across the North West and beyond want to spend their time.” Steve Gray, head […]

Mixed-use block on Tottenham Court Road sold for £32.6m

6th February 2026

A mixed-use block in Central London has changed hands in a deal worth £32.6m, reflecting a capital value of £755 per sq ft. The property, located at 80-85 Tottenham Court Road, has been sold by developer Derwent London to a joint venture between private investors Purestone Capital and BPS London, in what is their first acquisition together for a new value-add platform. The asset comprises 28,300 sq ft of offices across six floors plus four ground floor units, with a total floorspace of 43,000 sq ft. The current income is £1.7m per annum. Derwent London said the sale is at a premium to the June 2025 book value and is scheduled to complete in June 2026. Paul Williams, chief executive at Derwent London, said: “Investor demand for smaller value-add assets remains strong, which supports our disciplined approach to realising value. Proceeds will be recycled into other higher returning opportunities. These include our major on-site projects at Holden House W1 and Greencoat & Gordon House SW1, where we are confident in the strong rental growth outlook.” JLL advised Derwent London. Hanover Green advised the purchasers.

Hammerson adds former Shaftesbury exec to board

6th February 2026

Hammerson has appointed former Shaftesbury Capital executive director Michelle McGrath to its board as an independent non-executive director. Upon her appointment, McGrath will become a member of the Remuneration and Nomination & Governance committees. In her role at Shaftesbury Capital, McGrath was responsible for the group’s property portfolio, including investment, asset management, leasing and marketing. Prior to its merger with Shaftesbury in March 2023, McGrath was a director of Capital & Counties Properties, responsible for its property portfolio. McGrath is an experienced corporate financier, with a background across corporate broking, equity capital markets, and mergers and acquisitions, having advised companies within the UK listed real estate sector at UBS Investment Bank.

Outerwear brand to make West End debut on Carnaby Street

6th February 2026

French outerwear brand K-Way is set to open its first store in London’s West End on Carnaby Street in Soho. The brand will occupy a 1,400 sq ft at 26-27 Carnaby Street, offering a selection of outerwear and accessories for men, women, and children. The now 60-year-old brand is backed by Permira, an investor partner that has supported the growth of dozens of retailers, including Carnaby Street and Covent Garden residents Dr Martens and Reformation. William Oliver, director of retail and restaurant leasing at Shaftesbury Capital, said: “As one of London’s busiest shopping destinations, Carnaby Street is so often at the forefront of brands’ ‘must-have’ locations, and K-Way is no exception. We are focused on partnering with ambitious brands that elevate our customer mix and stand out in the West End, and the inclusion of K-Way is evidence of that approach. Its track record of partnership, collaboration with other quality brands and how it’s delivered, has created a real sense of excitement about what they can bring to Carnaby Street, and how our visitors will respond to it.” Lorenzo Boglione, CEO of K-Way, added: “Our goal for K-Way is to pursue a path of structured growth and consolidation across Europe’s […]

Hotel Chocolat looks to sweeten London offer with new store openings

5th February 2026

Hotel Chocolat has released its latest list of property requirements as it looks to expand its presence across London. The British chocolatier currently operates over 160 stores in the UK – alongside cafés, bars, and restaurants – and is now looking to open more locations in the capital and nationwide. Hotel Chocolat is seeking units ranging between 500 and 1,200 sq ft, located in prime, high footfall areas. Target locations in Central London include, but are not exhaustive to: Hotel Chocolat has appointed Colliers as sole acquisition agent.

American Golf acquired by Dragons’ Den star’s investment group

5th February 2026

American Golf has been acquired by an investment group owned by Dragons’ Den star Peter Jones CBE. The retailer has been acquired from Endless, a private equity group which has owned American Golf since a rescue deal in 2018. Last summer, corporate financiers from Alvarez & Marshal were appointed to handle a sale of the golfing retailer, which operates around 80 stores. Jones – a keen golfer himself – currently owns a portfolio that includes camera retailer Jessops, ecommerce platform Localised, and Reggae Reggae Sauce owner Levi Roots. Peter Jones CBE said: “Golf is a personal passion of mine, so acquiring American Golf feels especially meaningful. It’s a brand that truly understands golfers — from beginners to seasoned players — and has played an important role in the golf community for decades. “From an investment perspective, American Golf has the opportunity to become a global market-leading retailer because it has an extremely strong brand and a very loyal customer base. It aligns perfectly with our investment strategy of backing established businesses that have clear long-term growth potential, and I see a significant opportunity to invest in the brand, the customer experience and the way the business evolves to meet the...

ProCook to join homeware lineup at Braehead Shopping Centre

5th February 2026

ProCook is set to open at Braehead Shopping Centre, with the homeware retailer joining the Glasgow scheme this spring. The 2,106 sq ft store will be located on the scheme’s lower level, stocking ProCook’s full range of own-brand cookware, kitchen tools, and tableware. ProCook will join a number of homeware and lifestyle brands at Braehead Shopping Centre, including Marks & Spencer, Flying Tiger Copenhagen, Waterstones, and Next Home. Rachel Scott, head of leasing at Global Mutual, said: “The arrival of ProCook demonstrates our continued commitment to curating a resilient and relevant retail mix at Braehead Shopping Centre. Securing established brands with strong trading performance remains a key focus as we continue to invest in the centre to enhance its appeal to both retailers and customers.” Lee Tappenden, CEO of ProCook, added: “Opening at Braehead Shopping Centre reflects our continued focus on retail expansion in strong, high footfall locations. Scotland is an important market for us, and this store represents an important step in our mission to increase ProCook’s national footprint whilst bringing our range to more customers.”

Waitrose acquires Surrey community shopping centre

5th February 2026

Waitrose has acquired the freehold of Hersham Green Shopping Centre in Surrey, securing the future of the supermarket retailer’s existing store at the scheme. As the new owner of the 54,000 sq ft scheme, Waitrose will also become the landlord for 16 additional retail units. The 27,000 sq ft Waitrose store is a hub for the village, offering meat, fish, and deli counters, alongside a dedicated John Lewis click-and-collect point. It also provides home delivery services via Deliveroo, Just Eat and UberEats. The acquisition represents a strategic commitment to securing Waitrose’s physical presence in key locations. It also complements a wider £1bn, multi-year investment in the Waitrose estate, which saw 23 shops transformed in 2025. This continues into 2026, and includes the multi-million-pound transformation of Waitrose Haslemere, which reopens in March. Barry Spencer, branch manager at Waitrose Hersham, said: “We are pleased to have secured the future of our Hersham store. This acquisition reflects our long-term commitment to the town and provides certainty for our customers and our partners, who work hard to serve the local community. We have been part of Hersham for two decades, and we look forward to playing a role in the town’s continued success for...