Retail Property News

Co-op and EG On The Move launch 24-hour roadside store

1st August 2025

Co-op and EG On The Move have opened a 24-hour roadside store in Stowmarket, Suffolk, the partnership’s first launch since opening a number of trial sites last year. The site, located on the A1308 Needham Road, combines a 24-hour petrol forecourt with a Co-op franchise convenience store. The 24-hour store offers chilled and hot food, bakery goods, everyday essentials, car care products, and a self-service Starbucks coffee machine, while the petrol forecourt provides four EV charging points, eight fuel pumps, air and vacuum services, and two jet washes launching soon. Martin Rogers, director of partnership development at Co-op, said: ‘We are delighted to be working with EG On The Move on our latest site, developing a compelling forecourt and convenience food offering as our partnership looks to expand. We are focused on scaling our franchise business, this is the first site to open together following our successful trial, and we are exploring more locations for joint growth. “By combining our membership , convenience knowledge, tailored product ranges, and automated supply, with EG On The Move’s fuel and franchise expertise, we will bring the benefits of Co-op to more communities together.” Zuber Issa, CEO of Eg On The Move, added: “As a […]

Chopstix opens first restaurant in Huddersfield

31st July 2025

Chopstix has continued its nationwide expansion with the opening of its first restaurant in Huddersfield, West Yorkshire. Opening this month on King Street, the new location reflects the brand’s ongoing plans to open in high traffic areas such as high street locations and traffic hubs. The addition of the Huddersfield restaurant follows several openings for Chopstix this year including in Brighton, Leeds, and most recently, Wolverhampton. Sam Elia, co-founder and director at Chopstix, said: “We’re excited to be opening in Huddersfield and introducing our unique brand proposition to another great UK high street.  “We’ve seen huge momentum behind the business this year, and this is a testament to the strength of the Chopstix brand and our unwavering focus on quality, speed, and customer experience.” Following investment from quick service restaurant (QSR) group QSRP in 2024, Chopstix has accelerated its expansion and is now aiming to become the largest Asian QSR brand on the continent.

NewRiver completes over 250,000 sq ft of new lettings and renewals

31st July 2025

NewRiver has completed 252,200 sq ft of new lettings and renewals in the first quarter of the 2026 financial year. This was up from 147,300 sq ft during the same quarter last year. During the period, the real estate investment trust (REIT) secured £2m of rent through long-term transactions, a year-on-year increase of £0.3m. NewRiver also recorded a portfolio occupancy rate of 94.9% and a retention rate of 92%. The REIT said that UK consumer spending has remained strong, with total UK retail and supermarket spending in its estate up by 4.5% year-on-year during the six months to June 2025. During the quarter, NewRiver also completed the sale of the Abbey Centre in Newtownabbey, Northern Ireland, for £58.8m. Since acquiring the 320,000 sq ft scheme in 2014, NewRiver has completed a number of successful initiatives, including the creation of a new 44,000 sq ft flagship store for Next, the delivery of an upsized Primark into a former BHS unit, and the completion of a refurbishment programme including the entrance, car park, and a revitalised food court. Allan Lockhart, chief executive of NewRiver, said: “We have made an excellent start to the new financial year. Consumer spending growth across our portfolio is […]

Knight Frank appointed as retail agents at Belgravia development

31st July 2025

Knight Frank has been appointed as the exclusive retail and restaurant leasing agent of 8 Eaton Lane in Belgravia, London, a residential-led development. Originally designed as serviced residential apartments, the Grade II-listed building is currently undergoing a redevelopment, and will provide a collection of 42 residences alongside retail and restaurant spaces when development completes in 2026. The development is being brought forward by CIT, in a joint venture with Bain Capital, and will look to reinforce the area’s position as a leading residential, restaurant, office, and tourist location. Jonathan Eastwood, head of the retail agency team at Knight Frank, said: “We are delighted to be working with Bain Capital and CIT on this landmark development. “8 Eaton Lane presents a rare opportunity to introduce a distinctive blend of retail and restaurant operators to one of London’s most desirable addresses. We look forward to bringing a carefully selected mix of occupiers to complement the quality and character of this stunning development. We expect to fully launch the space in September and already have a list of enquiries.”

Hammerson acquires remaining Bullring & Grand Central stake for £319m

31st July 2025

Hammerson has reached an unconditional agreement to acquire the 50% stake it does not own in Birmingham’s Bullring & Grand Central for £319m. The real estate investment trust said the acquisition will be funded through the suspension of its share buyback programme, existing cash resources, and an equity placing of up to 10% of total outstanding shares. Hammerson said the purchase was completed at a 4% discount to the June book value, and represents an additional annualised net rental income of around £22m. Since 2021, Bullring has benefited from over £30m of landlord investment and £75m occupier investment to reposition the former Debenhams unit and bring in new retail concepts, upsizes, and offers from the likes of M&S, Inditex, Sephora, and JD Sports, alongside new leisure provision including TOCA Social and Lane7. At Grand Central, located above Birmingham New Street station, occupancy is up by 3% year-on-year, reflecting spillover demand from Bullring where space is also at a premium. Food and beverage is a particular feature of the scheme, due to its location. Hammerson said Grand Central also represents a compelling redevelopment opportunity. Around 50% of the space, representing a former John Lewis department store, is currently vacant. However, a […]

Joint venture secures planning permission for Edgware masterplan

30th July 2025

A joint venture between Ballymore and Places for London has secured outline planning permission from Barnet Council’s Strategic Planning Committee for proposals designed to transform Edgware town centre in Greater London. The 10.3 hectare site comprises the Broadwalk Shopping Centre, including a Sainsbury’s store, and associated surface level car park, along with Edgware Bus Station, Edgware Bus Garage, Redhill Medical Centre, and Deans Brook Nature Reserve. The masterplan represents a £1.7bn investment which will look to deliver 460,000 sq ft of new commercial space – including a potential cinema, new community uses including an integrated healthcare hub and library, an integrated public transport interchange, 11.9 acres of green and open spaces, and approximately 3,500 new homes. The outline masterplan has been developed by Howells, with Savills supporting Barnet Council. Iyabo Johnson, associate director in the London Planning team at Savills, says: “We are really pleased to have successfully steered this ambitious scheme through a complex planning process. The Edgware masterplan offers a sustainable, plan-led response to London’s pressing need for housing and growth. The proposals make optimal use of brownfield land with excellent public transport connections. “Through a bold and forward-thinking approach, the scheme unlocks a significant package of public...

Manchester Arndale to welcome Boux Avenue

30th July 2025

Boux Avenue is set to open a new store at Manchester Arndale shopping centre later this summer. The lingerie, nightwear, and swimwear company has signed a 10-year lease for a 2,765 sq ft store on New Cannon Street in close proximity to Sephora. The new space will bring the brand’s in-store offering to shoppers at the Manchester scheme, which includes bra fittings, fitting rooms, and an array of lingerie plus swimwear and nightwear. Boux Avenue – which has over 25 stores in the UK – will join recent arrivals at Manchester Arndale including Alo Yoga, Arc’teryx, and Represent to the city. Steve Gray, head of European retail asset management at Global Mutual, said: “Boux Avenue is a standout name in the UK retail landscape, and we’re thrilled to welcome them to Manchester Arndale for their latest location. Their arrival will further enhance our varied mix of fashion and lifestyle brands, and we know our visitors will welcome the addition.” Metis Real Estate and Time Retail Partners are Manchester Arndale’s retained letting agents.

Retail most resilient sector as UK property investment slips to two-year low

30th July 2025

UK property investment slipped to a two-year low in the second quarter of 2025, however retail was the most resilient of the main sectors. According to a new report from Lambert Smith Hampton (LSH), £8.8bn of property assets changed hands during Q2 2025, 6% down on a modest Q1% and the lowest total since Q2 2023. LSH said this lower total was reflective of tariff concerns, a weaker economic outlook, and high yields from government bonds, all of which are fuelling caution amongst investors. However, transactional activity appeared more resilient. While the Q2 investment volume was 27% below the five-year quarterly average, the number of deals was only 9% below trend. LSH said the drop in investment volume in Q2 mostly reflects an absence of large-scale deals, with no transactions above £400m having been completed for the first time in five years. Retail proved to be the most resilient main sector against trend in Q2. Whilst the investment volume of £1.6bn was down 11% compared to Q1, this was only 7% below the five-year quarterly average. In addition, the number of retail transactions was only 1% below the five-year average. This was underpinned by a decent quarter for retail warehousing, where a […]

Crocs slides in to London Designer Outlet

30th July 2025

Casual footwear brand Crocs has opened a new store at London Designer Outlet (LDO) in Wembley Park. The 1,456 sq ft store offers a range of products for adults and children, including Crocs’ famous clogs, sandals, and a selection of ‘Jibbitz’ charms. One of the store’s key features is a dedicated Jibbitz area, which allows customers to customise their footwear with unique charms. Shoppers under the age of 44 made up over half of LDO’s total spend during the past year, and the outlet destination has looked to respond through the addition of brands such as Crocs, Rituals, and Miniso, whose product ranges aim to appeal to this demographic. Daniel Tomkinson, general manager of London Designer Outlet, said: “The opening of Crocs continues the run of globally recognised brands coming to London Designer Outlet. Thanks to our location within one of London’s most vibrant new neighbourhoods, with a diverse multi-generational brand-savvy audience and international students on our doorstep, we expect the Crocs store to perform exceptionally well, and we look forward to working with their team to ensure they thrive at LDO. “With more exciting new arrivals on the horizon, we are continuing to cement our position as London’s haven […]

Rituals opens at Lincoln’s Waterside Centre

29th July 2025

Rituals has continued its rapid expansion with the opening of a new store at the Waterside Centre in Lincoln. The retailer has signed a long-term lease for a 1,200 sq ft space, offering a range of bath, body, and home products. Rituals joins other leading retailers at the Waterside Centre including H&M, Next, The Body Shop, New Look, Superdrug, O2, and Office. The opening is the latest addition to Waterside following significant investment by joint venture owners Wykeland Group and Lincolnshire Co-Op, which acquired the scheme in 2023 and have since delivered a £3m programme of improvements. These upgrades have also seen Accessorize reopen next to Rituals, following landlord works and a tenant refresh to the store. Mary-Jane Booth, centre manager at Waterside, said: “We’re absolutely delighted to welcome Rituals to Waterside. This premium wellbeing brand is exactly the type of quality retailer that complements our vision for the centre and demonstrates the continued confidence major brands have in Waterside and Lincoln as a retail and leisure destination. “Rituals brings something truly special to Lincoln – not just luxury products, but an immersive shopping experience. “Their commitment to exceptional customer service and meaningful brand values aligns perfectly with our investments...

Ikea to open first store in York

29th July 2025

Ikea is set to open its first-ever store in York with the opening of a ‘Plan and Order’ point at Clifton Moor Retail Park. The retailer’s Plan and Order Points are smaller stores, which look to provide customers with bespoke kitchen and storage planning services. At these locations, customers can access furnishing advice from Ikea workers, who can assist them in planning, purchasing, and installing their kitchens and bedroom and living room storage. The store – which opens in August – will also offer a collection area for online orders, where customers will be able to return purchases. The opening forms part of Ikea’s wider expansion plan, which includes the opening of another Plan and Order Point in Dundee, smaller stores in Norwich and Chester, and a new city store in Brighton. This comes after the retailer opened Plan and Order Points in Hull and Waterford and a small store in Harlow. Conor Doherty, market manager at Ikea, said: “Our Plan and Order Points offer the perfect space for customers to create their ideal kitchen or storage setup. Beyond planning, these locations also make it easier for those living further from our Hull, Leeds, and Sheffield stores to access our full range, […]

CBRE sells Essex supermarket investment

29th July 2025

CBRE Investment Management has sold a long income, index-linked Aldi supermarket investment in Billericay, Essex, to State Street Investment Management. The acquisition price was not disclosed, however the asset was previously marketed with an asking price of £8m, reflecting a net initial yield of 5.00%. Formerly a Co-op store, the supermarket is let to Aldi until April 2045 and is set to open in November 2025. Upon opening, the store will comprise a gross internal area of 19,267 sq ft and be supplemented by a 2,103 sq ft external canopy area and 146 car parking spaces. The supermarket will generate a passing rent of £421,818 per annum, reflecting £20.76 per sq ft based on the proposed store reconfiguration. This is subject to 5-yearly RPI linked rent reviews. Montagu Evans advised CBRE Investment Management. TW Keil acted for the purchaser.