Retail Property News

Martin’s Properties acquires £15.5m West Sussex retail park

8th October 2025

Martin’s Properties has acquired Bognor Regis Retail Park in West Sussex from an institutional investor for £15,475,000, reflecting a net initial yield of around 7%. Located on a 5-acre site on the northern edge of Bognor Regis, the 83,982 sq ft fully-let scheme comprises six retail warehouse units and benefits from 280 car parking spaces. Tenants include Home Bargains, The Food Warehouse, Matalan, Dreams, Halfords, and a KFC drive-through. Gary Sherwin, head of transactions at Martin’s Properties, said: “As one of only two out-of-town retail schemes in the area, and with over 800 new homes planned or underway within a 10-minute drive, this investment provides a great opportunity for generating rental growth through active asset management using our in-house team. We have additional cash immediately available and are actively looking to deploy into additional core plus and value-add retail warehouse and multi-let industrial assets of £5-20m.”  Richard Bourne, CEO of Martin’s Properties, added: “This acquisition is part of the ongoing strategy to restructure our existing £115m regional investment portfolio with a focus on retail warehouse and industrial estates across the South of England, as well as a multi sector portfolio in Oxfordshire. All assets in the portfolio are in prime […]

Praxis appoints new centre director at Glasgow’s St. Enoch Centre

7th October 2025

Praxis has appointed Martin Botha as centre director at the St. Enoch Centre in Glasgow, following the group’s acquisition of the scheme in May this year. Botha brings over 20 years of experience within Scottish retail management, joining the centre after a six-year stint at the Omni Centre in Edinburgh, where he helped develop a new leisure quarter. Prior to this, he was centre manager at both Antonine Shopping Centre in Waverley and Edinburgh Waverley Mall. Since Praxis acquired St. Enoch Centre in May, the property has welcomed a wave of new openings, including fashion brand UNIQLO and restaurant chain Monterey Jacks. Martin Botha said: “I am thrilled to join Praxis as centre director at St. Enoch Centre during such a pivotal moment in its evolution. “St. Enoch Centre has established itself as a premier hub in the heart of the city, renowned for its diverse tenant mix, dedicated customer base, and strong ties to the Glasgow community. However, I believe we are just scratching the surface of its true potential. “Building on the impressive momentum we’ve gained this year, including several exciting new signings and a robust pipeline of opportunities, I am eager to work alongside the team to...

Mulberry fashions pop-up store at Gunwharf Quays

7th October 2025

Mulberry is set to open a pop-up store at Landsec’s Gunwharf Quays outlet shopping centre in Portsmouth. The British heritage brand’s new store will open later this month and span 1,466 sq ft, offering a range of leather goods. The signing follows a strong year of investment across Gunwharf Quays, with recent additions to The Avenues including the newly-opened Citizen and Oliver Bonas stores, alongside existing brands such as Penhaligon’s, AllSaints, Polo Ralph Lauren, and Coach. The signing comes after Landsec recorded strong performance across its outlets between April and June this year, with sales up by 11.2% year-on-year.  Pablo Sueiras, head of retail and hospitality leasing at Landsec, said: “We’re focused on elevating Gunwharf Quays as a destination for premium brands, and introducing Mulberry to The Avenues is a testament to its growing appeal. “With consistent high footfall and our ongoing investment programme enhancing the surroundings, we’re creating the ideal environment for brands to connect with guests. We are seeing continued rise in demand for elevated experiences, and this pop-up is perfectly placed to cater to that trend.”

M Core acquires 99,000 sq ft Telford leisure scheme

7th October 2025

M Core has acquired Southwater Square, a 99,000 sq ft leisure scheme in Telford, Shropshire. The scheme is anchored by a line-up of national operators including Cineworld, Premier Inn, Miller & Carter, Zizzi, Willow, Pizza Express, Nando’s, and Bella Italia. The asset also benefits from a 602-space multi-storey car park as well as access from Junction 5 of the M54. LCP UK, part of M Core, will manage the asset. James Buchanan, group managing director at LCP UK, said: “Southwater Square presents exactly the kind of opportunity we look for, a well-located leisure destination with strong existing footfall and the ability to enhance performance through intensive management. We see real potential to curate the tenant mix further, working closely with occupiers and stakeholders to ensure the scheme continues to thrive as a central part of Telford’s offer.” Osborne Clarke and McGregor Wyn advised M Core, whilst Savills and Knight Frank represented the vendor.

GCW promotes new equity partner

7th October 2025

GCW has announced the appointment of James Waldock as equity partner. This promotion comes 18 months after Waldock joined the retail property consultancy, after more than 20 years at JLL where he was a senior director in the retail capital market division. Oli Horton, partner in GCW’s investment team, said: “We’re very excited to welcome James into the partnership. James has brought a wealth of knowledge and transactional experience that has elevated GCW and the team’s ability to provide tailored solutions for clients.” James Waldock added: “After a successful and enjoyable 18 months, I’m delighted to join the partnership at what is an exciting time and period of growth for the business. “The retail investment market is witnessing a notable shift in sentiment and continues to gain momentum. The nature and scale of shopping centre investment and retail investment as a whole has changed and continues to evolve. Our collaborative approach of combining leasing and investment expertise continues to deliver best in class advice to clients.” The GCW investment team has advised on six shopping centre transactions in 2025 including Praxis Group’s purchase of Glasgow St Enoch.

Waitrose announces multimillion pound commitment to London estate

6th October 2025

Waitrose has announced a multimillion pound investment into its London store estate, as the retailer opens its 62nd store in the capital. The supermarket chain said it would be funding renewed convenience shops in Crouch End and Old Brompton Road, as well as upgrading its store in Coulsdon before the end of the year, with further transformations scheduled for the first quarter of 2026. This comes as Waitrose today opened Wandsworth New Acres, a 2,500 sq ft Little Waitrose convenience shop situated in a new neighbourhood development. The opening follows the retailer’s recent refurbishments in London, located at its stores in Marylebone and Clerkenwell. Tina Mitchell, interim managing director of Waitrose, said: “From our roots in Acton where we opened our very first shop, to Streatham which saw our first supermarket, and now our newest convenience shop in Wandsworth, London has always been home to Waitrose and central to our success. “Today, as we open our 62nd store in the capital, we’re committing to investing millions to expand and refresh our portfolio. We pride ourselves on excellent customer service and by continually listening to what our customers want and need, we are well positioned for future growth in London and...

UNIQLO opens second Scottish store in Glasgow

6th October 2025

UNIQLO has opened its second store in Scotland on Argyle Street at Glasgow’s St. Enoch Centre. The fashion retailer has taken a 10-year lease on a 24,000 sq ft unit, offering its full range of clothing for men, women, and children. The store also features the brand’s Re.Uniqlo Studio for the repair, remaking, and upcycling of old items. UNIQLO’s Glasgow store joins the retailer’s other Scottish location in Edinburgh, which opened last year. The opening continues the ongoing transformation of Argyle Street, following from Next’s opening on the street at the end of last year. Alessandro Dudech, chief operating officer at Uniqlo UK. said: “We are excited to open our new store on Argyle Street, one of Scotland’s most iconic and historic shopping destinations. “Perfectly positioned in the heart of Glasgow’s thriving retail scene, this location offers the ideal setting to showcase our LifeWear to a diverse and dynamic community of shoppers. “It also gives us a fantastic opportunity to champion local partners as part of this opening, collaborating with creatives and organisations that reflect the spirit and energy of the city” Ian Shorrock, head of retail at the landlord Praxis, said: “As the opening of Uniqlo demonstrates, St. Enoch Centre continues […]

Shaftesbury Capital welcomes nine new signings to Soho

6th October 2025

Shaftesbury Capital has announced nine new signings, including two UK debuts, at its Soho estate in London. Three of these brands arrived in September, while the remaining six will all join the estate before Christmas. The new signings include four F&B lettings: Shaftesbury Capital has also completed five retail signings: William Oliver, director of retail and restaurant leasing at Shaftesbury Capital, said: “We continue to generate strong demand from experience-led brands looking to be part of Carnaby Street and Soho, with each of these additions bringing a unique concept that aligns with the area’s distinctive character. Having these brands up and running before Christmas means an exciting end to the year for our customers, as we continue to welcome an outstanding calibre of brands that recognise Carnaby Street and Soho’s exceptional reputation, and that have a desire to be part of this ever-evolving destination.”

Harvey Norman appoints Savills to support UK rollout

3rd October 2025

Australian retailer Harvey Norman has appointed Savills to support its growth across the UK. The retailer – which specialises in furniture, home appliances, and electronics – is looking to open a minimum of 10 stores over the next three years. Savills is seeking out-of-town units ranging between 40,000 sq ft and 60,000 sq ft, or between 25,000 sq ft and 30,000 sq ft with a mezzanine. Ideal properties will be located in retail parks or roadside locations, or in major national conurbations. Harvey Norman currently operates one UK store at Merry Hill and is set to open its second at The Gracechurch Centre in Sutton Coldfield next year. Internationally, the brand has over 300 stores across 8 countries.

State Street snaps up North Yorkshire retail park

3rd October 2025

State Street Investment Management has acquired a retail park in Ripon, North Yorkshire, for an undisclosed fee. The group has acquired St Michael’s Retail Park, a 24,000 sq ft asset currently let to M&S and Next, as well as an EV charging operator. The retail park has a weighted average unexpired lease term of 13.7 years to expiry and 12.8 years to break. All of the park’s income is subject to five-yearly upwards-only CPI-linked rent reviews. Although the selling price was undisclosed, the retail park had been marketed with an asking price of £8.1m. TW Keil acted for State Street. Knight Frank acted for the vendor Rothstone Estates.

North East retail warehouse brought to market with £2.1m price tag

3rd October 2025

A retail warehouse in the north east of England has been brought to the investment market with a price tag of £2,124,000, reflecting a net initial yield of 7.75%. Park Place Retail is marketing Armstrong Retail Park in Washington, Tyne and Wear, a 15,025 sq ft asset currently let to Tapi Carpets & Floors. The property, which is located adjacent to a 135,000 sq ft B&Q warehouse, generates an average rent of £11.65 per sq ft. Park Place Retail is also currently marketing Victoria Retail Park in Halifax and Berse Road Retail Park in Wrexham for the same vendor. The out-of-town specialist is marketing the two assets for a combined valuation of over £5.4m. Although each retail park is being marketed separately, they may be acquired together.

Superdrug opens largest South West store at Cribbs Mall

2nd October 2025

Superdrug has opened its largest store in the south west of England at Cribbs Mall in Bristol. The 8,901 sq ft space offers a range of health and beauty products, toiletries, beauty treatments, and fragrances. The store is also one of 30 Superdrug locations nationwide that features the retailer’s new ‘Beauty Playground’ concept which has been rolled out across select stores. It enables customers to test and trial products, interact with new brands, and receive guidance from trained brand ambassadors. Superdrug’s new store also features a dedicated beauty studio, where shoppers can access treatments including brow, nail, and piercing services. Alongside this, the store will offer access to a new clinic, offering treatments such as flu jabs. Clare Jennings, property director at Superdrug, said “We’re excited to open the doors to our brand-new store at Cribbs Mall in Bristol. With direct entrance into the shopping mall this new location represents another step in Superdrug’s continued investment in bricks and mortar retail, and we are excited to bring an even broader selection of products and services to local customers.” Katie Searle, director of asset management at Sovereign Centros by CBRE, added: “It is great to see Superdrug select Cribbs Mall for...