Retail Property News

Trafford Centre secures major leasing deal with Inditex

4th April 2025

Trafford Centre in Manchester has secured a major leasing deal with the Inditex fashion group, which will see the relocation of the existing Zara and Pull&Bear stores as well as the arrival of Bershka. All three of the stores are due to open at the end of the summer and will occupy separate flagship stores on Peel Avenue. The expansions of Zara and Pull&Bear alongside the arrival of Bershka – which joins Trafford Centre for the first time – will look to provide a better shopping experience through larger improved stores and the introduction of a new brand. Based in Spain, Inditex now operates in over 214 markets worldwide through eight brands. This major deal with Inditex comes at a pivotal moment for Trafford Centre, which approaches four years since Pradera Lateral was appointed as asset manager. During this time, the centre has seen over 230 leasing deals and more than £120m in new store development. Brands including Sephora, Lululemon, Gymshark, LEGO, Rolex, and Cartier are some of the names that are part of this growth. The deal follows a successful year for Trafford Centre, which saw footfall climb to nearly 23 million people in 2024, up by 10.3% compared […]

Jewellery brand opens 16th store on New Bond Street

4th April 2025

Fine jewellery retailer Kismet By Milka has opened its 16th store globally on London’s New Bond Street. The brand has secured a 10-year lease for a 1,100 sq ft unit at 110 New Bond Street, located on the corner of Brook Street. Kismet By Milka joins two other jewellery retailers, Georg Jensen and Diamond Lab, which have also recently opened on the same stretch of New Bond Street. The new opening follows the brand’s successful launch in Dubai. Savills advised on the deal on behalf of a private Hong Kong-based landlord. Anthony Selwyn, co-head of Global Retail at Savills, said: “This part of Bond Street is taking shape at great pace, with numerous brands recognising its growing prime status.”

Park Place Retail brings five former Carpetright stores to market

3rd April 2025

Park Place Retail has been retained by Nestware Holdings to bring five former Carpetright stores to market. Each of the properties, which vary in size between 6,559 sq ft and 11,074 sq ft, are available either for sale or to let. The stores are located in: Chippenham, Wiltshire: High Wycombe, Buckinghamshire: Newport, Isle of Wight: Newton Abbot, Devon: Preston, Lancashire: All interested parties have been encouraged to contact George Stratton at Park Place Retail.

Shaftesbury Capital brings Kricket Indian restaurant to Covent Garden

3rd April 2025

Shaftesbury Capital has signed Indian restaurant Kricket for a new site within its Covent Garden estate in London. Opening in Neal’s Yard within Seven Dials later this year, the 4,000 sq ft restaurant will accommodate over 130 diners and offer a blend of modern and Indian-inspired flavours. Kricket will join Neal’s Yard’s existing line-up of restaurants including Story Cellar, The Barbary, and La Compagnie, as well as specialist concepts such as Neal’s Yard Dairy and St. JOHN Bakery. It also joins food and beverage concepts within the wider Seven Dials area, including Balthazar, SUSHISAMBA, and Ave Mario. Emma Matus, head of restaurant leasing at Shaftesbury Capital, said: “Covent Garden is already home to the city’s best dining concepts, and the addition of Kricket, with their take on Indian cuisine that blends Indian flavours with London’s culinary creativity, will complement this line-up. The signing is among the first of many new dining options set to be introduced to the destination this year, as we get ready to bolster Covent Garden’s high calibre offer with new, unique and diverse concepts.” This announcement follows the news that French-Japanese fusion brand Café Kitsuné is set to open in the Seven Dials neighbourhood this spring […]

Lakeside Shopping Centre adds Reiss to fashion line-up

3rd April 2025

Lakeside Shopping Centre in Essex, part of SGS Group, is set to increase its fashion offering with the arrival of Reiss later this year. Opening in May, the ‘affordable luxury’ brand’s new store will span 2,111 sq ft and offer Reiss’s full range of menswear, womenswear, and accessories. Reiss joins an existing line-up of high-end fashion retailers at West Thurrock’s Lakeside Shopping Centre, including All Saints, Calvin Klein, Levi’s, and BOSS. Rob Jewell, managing director of asset management at Pradera Lateral, said: “Reiss’s arrival is an exciting addition to Lakeside’s fashion brand portfolio, showcasing our commitment to delivering a best-in-class shopping experience and strengthening the on-site offer. As we continue to evolve our fashion and lifestyle offering, welcoming globally recognised brands like Reiss ensures that we meet, and exceed, the expectations of our visitors and bring them access to the stores that they covet most.” “Our leasing pipeline for 2025 is taking great shape, and we are looking forward to announcing more additions to the centre’s 220 stores in the coming weeks.” The signing follows the recent news that Lakeside Shopping Centre has expanded its food and beverage line-up with the addition of four new tenants, with the scheme welcoming […]

Ikea to open three small format stores at former Homebase sites

3rd April 2025

Ikea is set to open three smaller format stores at retail parks around the country, taking on former Homebase units. The home furnishings retailer will be opening the new stores at Greyhound Retail Park in Chester, Harlow Retail Park in Harlow, and Hall Road Retail Park in Norwich. Each store will offer up to 5,000 product lines, as well as click-and-collect services, a market hall, and food-to-go items. This comes ahead of Ikea’s upcoming opening on London’s Oxford Street this spring. The retailer is also set to open a store in Brighton later in the year. Peter Jelkeby, chief executive officer of Ikea UK and Ireland, said: “We know many people want to shop with Ikea but in some instances we are just too far away. “That’s why we are strategically expanding our UK footprint, with the aim of showing up in convenient, accessible locations for our customers. “Centrally located in retail parks, our three new stores mark a major step forward in our expansion plan, making it easier than ever for customers in these areas to shop with us. “Harlow, Chester and Norwich have long been areas of interest to us, and we’re looking forward to bringing the very best of...

HARIBO sweetens Silverburn’s line-up with debut Scottish store

3rd April 2025

HARIBO is set to open its first store in Scotland and its 12th in the UK at Silverburn in Glasgow. Opening later this year, the confectionary retailer’s store will span 2,500 sq ft and take the title of the northern-most HARIBO shop in the world. The store will feature a “Pick Your Mix” station and offer HARIBO and MAOAM products such as Supermix, Giant Strawbs, and HARIBO Nostalgix. The launch follows the opening of HARIBO’s most recent store at Bluewater in Kent. Alberto Esguevillas, chief executive officer of UK retail at Silverburn owner Eurofund, said: “We are pleased to have been selected as the location for HARIBO’s first Scottish store. It is a much-loved brand and a very welcome addition to our ever-evolving offer that continues to enhance Silverburn’s status as the leading Scottish retail and leisure destination.”

Developer starts work on Darlington retail park

2nd April 2025

Northern development firm Almscliffe-Dhesi (AD) has begun work to transform a derelict industrial site in north west Darlington, County Durham, into a multi-let retail park. Construction work has commenced on the site and is scheduled to finish this September. Occupiers that have already signed for units at the scheme include Costa Coffee, Greggs, Indigo Sun, Harrison Vets, and Fastnet. A portion of the site has also been sold to McDonald’s, which is constructing its own unit at the entrance. The news comes shortly after AD announced that it had completed three major retail projects across the North East of England and North Lincolnshire. Neil Creeney, director at AD, said: “We are delighted to report that work has started on site at Faverdale and is on target to finish this autumn. All on-site buildings have now been demolished and steel construction work is starting shortly. “This is Phase One of a wider development on the Faverdale site. There is a further four acres that have retail consent which will be developed in due course. “We are extremely pleased to have signed up a number of high-profile and successful retail operators for Phase One. They will make a significant difference to the […]

Montagu Evans appoints tenth managing partner

2nd April 2025

Montagu Evans has appointed Alan Harris as managing partner, the property consultancy firm’s tenth since it was founded in 1921. Formerly head of the group’s advisory department, Harris joined Montagu Evans in 2001 with a background in development consultancy. He has led the firm’s town centre and public sector groups and has also held a seat on Montagu Evans’ executive committee – which runs the business – since 2014. He succeeds Rob Bower, who leaves both the position and the company after a decade in post. Alan Harris said: “We are entering a new phase of growth, backed by considerable investment from our partners and renewed focus on areas where we can support clients’ ambitions most effectively. “Montagu Evans remains very proud to be a consultancy-led LLP: small enough for clients to quickly get to the right advice but with scale in our planning, advisory and transactional specialisms to provide extra resource and expertise to unlock complex opportunities for both the public and private sectors UK-wide. “We’re continuing to invest in our outstanding people, welcoming new talent, promoting from within and expanding our expertise, while continuing to think and act long-term. Major, multi-service instructions continue, and we are excited by the […]

M&S announces £50m investment into North West estate

2nd April 2025

Marks & Spencer has announced that it will be investing £50m into its stores across the North West of England, adding 100,000 sq ft of additional space to its estate. The investment – which will be spread across the next three financial years – will see three stores in the North West renewed to the retailer’s latest format as well as the launch of five new stores. It forms part of M&S’s store renewal and rotation programme, which the retailer recently said is picking up pace with with renewed stores trading well. The first of the eight stores, located at Gemini Retail Park, Warrington, reopened last week with a new clothing, home, and beauty department, following the opening of a food hall in October last year. Meanwhile, the New Mersey Retail Park store in Speke is to move sites and undergo a transformation from a food hall into a full-line store, offering clothing, home, and beauty to customers in south Liverpool. M&S is also planning to open the doors to a brand-new food hall at The Point development in Formby, Merseyside. In Thornton-Cleveleys, Lancashire, M&S is planning to open a new food hall, pending planning permission. The investment will triple...

Hanningtons Brighton fully let following pair of new signings

2nd April 2025

The retail element of Redevco’s Hanningtons Brighton is now fully let after the signings of beauty brand Charlotte Tilbury and fragrance retailer Isle of Havalon. Charlotte Tilbury has taken a 2,000 sq ft unit on East Street on a 10-year lease while Isle of Havalon has signed a five-year lease for a 736 sq ft store at 1 Hanningtons Lane. The two deals are the final retail lettings at the 150,000 sq ft scheme. Claire Yeadon, asset manager at Redevco, said: “The lettings to Charlotte Tilbury and Isle of Avalon are the final pieces in the jigsaw for Hanningtons. Since acquiring Hanningtons ten years ago we have striven to create an exciting and sustainable tenant mix that brings a new dimension to this vibrant city. “In addition to major brands such as Watches of Switzerland, Lululemon, Oliver Bonas, Hotel Chocolat and recent lettings to PURESEOUL and Scamp & Dude we have a strong line up of independents such as &Halt, Bousham Gallery, Hugo & Green, The Fair Shop, Stanley Road Store and award-winning restaurant The Flint House.” GCW advised Redevco, whilst KLM Real Estate represented Charlotte Tilbury.

Coventry shopping centre placed on market with £9.2m asking price

2nd April 2025

A shopping centre in Coventry has been placed on the market with an asking price of £9.22m, reflecting a net initial yield of 10.0%. Lower Precinct extends to 221,600 sq ft of retail floorspace across two levels, and is anchored by the likes of Flip Out, H&M, River Island, New Look, Home Bargains, and Superdrug. Other tenants at the shopping centre – which dominates the city’s retail provision – include Lush, Clarks, The Entertainer, F. Hinds, Caffè Nero, and Pandora. The scheme has recently been taken to full occupancy, with Flip Out and Putt Putt Social having opened in the ground and first floor of the former TJ Hughes unit in 2024. Additionally, the former Next store was reconfigured into four units in 2024 and is now home to Søstrene Grene, The Fragrance Shop, Cards Direct, and The Works. Rymans is another new entrant to the centre, having taken the GAME unit following its relocation to the Frasers department store. The scheme also benefits from a multi-storey car park providing 345 spaces. The asset produces a gross income of £2,341,116 per annum and a net income of £984,720 per annum. It has a weighted average unexpired lease term of 4.6...