Retail Property News

Angel Central welcomes Therapié Clinic following record-breaking first quarter

22nd April 2025

Angel Central in Islington has welcomed health and beauty specialist Therapié Clinic, as the scheme celebrates a record-breaking first quarter. The brand has taken a 2,172 sq ft space at the centre, joining other health and wellbeing brands at Angel Central including Rituals, Holland & Barrett, L’Occitane, and Frame. With over 75 locations across the UK, Ireland, and the United States, Therapié Clinic provides services such as laser hair removal, cosmetic injections, and skin treatments. The new clinic is the brand’s first in Islington and takes Angel Central’s ground floor to full occupancy. This comes after a strong first quarter for the centre, with footfall up by a record-breaking 8.4% compared to the first quarters of 2024 and 2019. Sales were up by 12.4% year-on-year during the period, whilst like for-like sales increased by 4.4%. Simon Prince, senior associate at CBRE Investment Management, said: “Angel Central is continuing to perform at a high level. Visitor numbers are increasing, sales are exceeding previous years, and we have a fully let ground floor with brands excelling. Our strong performance is a testament to the solid relationship we foster with our brands and the community, and Therapié Clinic is a new and exciting […]

French Connection to open at Scottish outlet centre

22nd April 2025

French Connection is set to open a new store at Caledonia Park, the designer outlet village in Gretna, Scotland. The fashion brand’s new location will span 2,200 sq ft and is set to open within the coming weeks, offering a range of womenswear and accessories. The arrival of French Connection at Caledonia Park will add to the centre’s existing fashion offer, which includes the likes of POLO Ralph Lauren, Kate Spade New York, and Calvin Klein. This comes after Caledonia Park experienced a strong start to the year, with year-to-date sales up by 10% compared to 2024. Standout categories included sports and outdoors, which saw a rise in year-on-year sales of 16%, and health and beauty, which recorded an increase of 11%. Maria Averkina, asset and development manager at Railpen, which owns Caledonia Park, said: “Womenswear is an important category within our destination and one which we are always looking to enhance and evolve, with French Connection adding to our dynamic tenant mix. The brand has achieved significant success since re-entering the outlet market in 2023 and is a distinguished retailer that will help us continue to break records and reach new milestones.” Simon Donoghue, head of retail at French...

Chopstix opens two restaurants at shopping outlets

17th April 2025

Chopstix is opening two new restaurants this month at McArthurGlen Designer Outlets in Bridgend, Wales, and South Normanton, Derbyshire. The openings follow multimillion pound refurbishments at the food courts of both shopping centre destinations. Chopstix’s Bridgend restaurant is now the largest within its estate, at just under 4,000 sq ft, and is the first to feature the brand’s new visual identity. This new concept will be implemented across all new Chopstix sites, while the brand has also started the process of identifying existing sites in its estate to undergo refurbishment. These openings are the latest step in a busy period of growth for Chopstix after an injection of investment from European quick-service operator QSRP last October. The arrivals of the Bridgend and South Normanton restaurants bring the total amount of site openings for Chopstix to four in 2025. They follow launches at White Rose Shopping Centre in Leeds and Welcome Break Motorway Service Station in Rotherham earlier this year. Rob Burns, marketing director of Chopstix, said: “We’re delighted to announce the opening of two new stores in the UK as we continue to accelerate site growth across the country.  “With the roll out of our upgraded visual identity at our Bridgend […]

Lacoste reinvests in only Scottish store at Livingston Designer Outlet

17th April 2025

Lacoste has reopened its only store in Scotland at Livingston Designer Outlet, following a full refit. The fashion retailer’s new store features a larger footprint, allowing for an increased product offering and an enhanced layout. It also includes a custom-built catwalk-style installation, as well as an expanded Polo Wall in tribute to the brand’s most famous garment. The store also offers an enhanced range of childrenswear, womenswear, accessories, and footwear. The newly-transformed unit forms part of the wider continued investment and growth strategy at the outlet shopping centre. Nicky Lovell, head of outlets and retail development at Global Mutual, said: “This significant investment from Lacoste reflects a growing trend among premium retailers to expand their physical presence with stores that deliver more products and better experiences. Lacoste’s new store is an exciting addition to Livingston Designer Outlet and aligns with our wider vision to elevate the retail offering and better serve our customers across multiple audiences.”

Major shopping centre sold out of receivership for £99m

17th April 2025

A major UK shopping centre has changed hands after being sold out of receivership. Savills, on behalf of receivers BDO, has sold Festival Place in Basingstoke to MDSR Investments for a total consideration of £99.1m. Comprising over 1.1 million sq ft set over 20 acres, Festival Place dominates the commercial core of the Hampshire town. The scheme is anchored by Marks & Spencer, Next, and H&M, with other occupiers including Superdrug, Apple, Nando’s, Sports Direct, Five Guys, TK Maxx, and Vue Cinema. The scheme benefits from a weighted average unexpired lease term of 5.76 years, with 4.36 years to break. BDO’s business restructuring partners Tony Nygate, Kiri Holland and Lee Causer were appointed as fixed charge receivers of Festival Place in May 2023. They have since looked to maximise the value of the scheme, working with asset manager Sovereign Centros to complete over 80 leasing transactions. This has seen an increase in the occupancy rate, with 24 new entrants to the centre. In addition, a new major leisure initiative has been advanced, with Superbowl and Hans Buffet taking 16,750 sq ft and 10,000 sq ft spaces, respectively. Savills said there is also demand for the former Debenhams space, which spans […]

AllSaints continues expansion with two new openings

17th April 2025

AllSaints has continued its UK expansion with the opening of two new stores. The fashion retailer has opened at London St Pancras station and Meadowhall shopping centre in Sheffield. Spanning 810 sq ft, AllSaint’s St Pancras location is its 10th in London and its second within the Network Rail Property portfolio, joining the retailer’s London Bridge Station store that opened in May 2024. In addition, the retailer has relocated from its previous store at Meadowhall into a larger space, which offers an expanded product range. The openings come amid a period of expansion for AllSaints, which has recently opened stores at Bullring in Birmingham, the Trafford Centre in Manchester, as well as two in Glasgow. Frankie Mallinson, global retail director of AllSaints, said: “We are excited to open our new store at London St Pancras – a prime location that allows us to engage with even more customers, including those traveling via the Eurostar. “This marks a significant milestone in expanding our presence in London, the city where AllSaints was founded, and deepens our valued partnership with Network Rail Property. “These new openings are a testament to the dedication and teamwork of our AllSaints teams, whose commitment continues to drive our growth...

Pair of former Thackeray directors launch London-based asset management platform

17th April 2025

A pair of former Thackeray directors have launched SevenCitiesLdn, a Central London-based asset management platform backed by £100m of investment from SevenCapital. The platform is led by Giles Hoare and Cameron Mitchell, who between them have over 25 years’ of combined experience and have completed more than £500m worth of real estate transactions across multiple sectors. SevenCitiesLdn will initially target assets valued between £5m and £30m, across a multitude of sectors including retail, hospitality, leisure, commercial, residential, and purpose-built student accommodation. The firm will acquire and reposition assets across London, the South East of England, and large regional cities. Giles Hoare was previously an investment director at Thackeray Group, which he joined in 2018. Prior to this, he held positions at London & Cambridge Properties and Cushman & Wakefield. Cameron Mitchell joined Thackeray Group in 2019 and left the company as a development director. He has also worked as a surveyor for CBRE. Damien Siviter, group managing director at SevenCapital Group, said: “SevenCitiesLdn is an exciting new venture, with an enterprising vision and approach to transforming the built environment that both aligns with our values and adds a new dynamic to the SevenCapital Group. “I look forward to supporting and […]

Asset manager appointed at Basingstoke’s Festival Place

16th April 2025

Asset and property management firm Estama has been appointed to manage Festival Place in Basingstoke, one of the largest shopping centres in the UK. The deal marks a major milestone for Estama since it became an Employee Ownership Trust, and continues the group’s expansion of its managed portfolio in recent years. Spanning 1.2 million sq ft, Festival Place is is home to over 180 retailers including Next, Marks & Spencer, Sports Direct, H&M, and Rituals. In addition to its retail offering, the scheme also hosts over 20 dining options and a 10-screen Vue cinema. Appointed as both asset and property manager, Estama has been tasked with stabilising the centre’s performance, improving leasing, elevating the overall retail mix, and maximising net operating income. Currently, the Festival Place’s occupancy rate stands at 77%, below the industry average of 89%, whilst Estama’s portfolio sits at a 98% occupancy rate on average. Estama said its initial priority will be to stabilise and improve the centre’s operational management, enabling vacant spaces to be filled with a combination of high-profile brands as well as local independent traders. Eoin Conway, managing director of Estama, said: “This is a major milestone for Estama since becoming employee owned and a […]

Bruce Gillingham Pollard launches F&B leasing at former Oxford Street Debenhams

16th April 2025

Bruce Gillingham Pollard is launching food and beverage space at The M Building, a new development on the site of the former Debenhams department store on London’s Oxford Street. The lease consultancy firm is marketing two units that front onto Marylebone Lane and Henrietta Street. These consist of a 6,391 sq ft unit to be targeted at a flagship restaurant and a 4,166 sq ft unit designed for more casual dining. Viewings are now underway with proposed opening dates in summer 2026. As well as the restaurant units, The M Building comprises 280,000 sq ft of Grade A office space, along with 52,500 sq ft of retail provision. The retail aspect of the development is being marketed by Savills. Tracey Pollard, managing director of Bruce Gillingham Pollard, said: “M building’s location at the heart of Oxford Street presents an exceptional opportunity. “Our specialist team is looking forward to bringing exceptional F&B operators to this development which is set to transform London’s most iconic shopping street.” The M Building, which is owned by Ramsbury, is being delivered in partnership with its development partner Capital Real Estate Partners.

Tk Maxx owner regears five retail park store leases

16th April 2025

The owner of TK Maxx has regeared the leases at five of its stores across three retail parks. TJX Europe, which also operates the Homesense brand in the UK, has renegotiated terms at: The regeared leases bring the average unexpired lease term across all five of the properties to over six years. NFU Mutual, which owns all three of the retail parks, was advised by the schemes’ retained agents Park Place Retail.

The Pollen Estate tailors new Savile Row leasing team

16th April 2025

The Pollen Estate has appointed a new leasing team on Savile Row, the Mayfair street renowned for its bespoke tailoring shops. Following a competitive pitching process, CBRE and Cushman & Wakefield have been appointed as joint retail leasing agents. The two firms will work alongside asset manager Knight Frank as they look to continue growing the bespoke tailoring and services offers that Savile Row is famous for. Shaped by merchant tailors, Savile Row welcomed its first occupants in the 17th century, before tailoring houses such as Norton & Sons, Gieves & Hawkes, and Henry Poole & Co – all of whom are still residents today – moved onto the street in the 1800s. Nowadays, Savile Row offers a mix of traditional tailoring and other contemporary businesses. Jenny Casebourne, head of portfolio at The Pollen Estate, said: “Savile Row stands as a testament to British tailoring’s past, while embracing the future of the discerning modern wardrobe. We will continue to grow and celebrate the best of bespoke tailoring, craftsmanship and exceptional services that complement the Row. The long-term strategy will remain to build on the heritage of The Pollen Estate as the custodians of craftsmanship and be supported by wider proposed […]

Head of CBRE UK and Ireland to step down

16th April 2025

The CEO of CBRE’s UK & Ireland advisory business Ciaran Bird is to step down from his role, with the brokerage firm now searching for a successor. He will continue to lead the company’s UK & Ireland business, working with CBRE’s UK Advisory Committee, until a new CEO is in place. Bird joined CBRE in 2005 after the firm acquired his former employer, retail adviser Dalgleish, where he worked for 16 years. Ciaran Bird said: “Our business has grown and prospered in ways that I could not have imagined back in 2005. As I plan to hand over the leadership reins, I am comforted in knowing that the next two decades for our business look equally bright.” CBRE’s offices in the UK and Ireland are located in: Aberdeen; Birmingham; Bristol; Cork; Dublin; Edinburgh; Glasgow; Leeds; Liverpool; London; Manchester; Belfast; and Southampton. Chris Kirk, global chief operating officer of advisory services at CBRE, added: “CBRE has a market-leading position in the UK advisory market, thanks to the strength of our 3,000-person, best-in-class team. Ciaran has been a strong leader for that team, and we appreciate all his contributions to the company. The business will be in great shape when he hands...