Retail Property News

Go Outdoors pitches up at Manchester Arndale

3rd December 2024

Camping retailer Go Outdoors is set to join Manchester Arndale after agreeing a deal to take a 21,565 sq ft unit. Making its return to Manchester, the brand will offer equipment such as footwear, tents, and fishing gear across 12,000 sq ft of retail space. The store will also provide specialist services including boot and rucksack fitting. Go Outdoors adds to the existing array of retailers at Manchester Arndale, including recent additions such as Castore, Trailberg, Nike, and Represent – which made its UK debut in the last few weeks. Scott Linard, portfolio manager for M&G Real Estate, said: “Go Outdoors is an exciting brand and a big name in the outdoor clothing and equipment world, so we are thrilled to welcome them to Manchester Arndale. We strive to offer a diverse range of apparel and clothing for our shoppers which we have demonstrated this year by adding a vibrant array of retailers.” Steve Gray, head of European retail asset management at Global Mutual, added: “Having a strong mix of brands is crucial to our mission of maintaining our status as the North West’s leading retail destination. Our strong mix of retailers helps to attract both high footfall and spend […]

Waitrose opens first store in six years and makes convenience market push

2nd December 2024

Waitrose has opened its first store in six years in Hampton Hill, south west London, with the new location becoming the retailer’s 47th operated convenience store. Waitrose said it will now focus on opening smaller convenience stores of around 3,000 sq ft, but has also confirmed it is looking at opportunities for larger convenience stores around double that size too.     The opening comes as the retailer plans to build on its existing partnerships with Welcome Break and Shell. In its partnership with roadside operator Welcome Break, Waitrose is planning to target more new locations, having opening on the A14 in Spaldwick, Cambridgeshire, in November. The retailer will also open on the M1 in Rotherham, South Yorkshire, in January, with a third location set to open in 2025. Waitrose has been in partnership with Welcome Break since 2009, and currently trades as Little Waitrose from 27 of its motorway service areas. The new stores will be the first the retailer has opened with Welcome Break in 11 years. Waitrose has also now reached over 100 Shell forecourt shops, with plans to open more in 2025. James Bailey, executive director for Waitrose, said: “The long associated stereotypes of food at forecourts and...

Popeyes makes Scottish shopping centre debut at Braehead

2nd December 2024

Fried chicken restaurant chain Popeyes is set to open for the first time within a Scottish shopping centre at Glasgow’s Braehead Shopping Centre. Seating up to 74 diners, the restaurant will serve Popeyes’ signature dishes including chicken sandwiches, wings, tenders, and biscuits with gravy. As part of an ongoing expansion, Popeyes at Braehead Shopping Centre will become the brand’s 65th restaurant in the UK and its fourth in Scotland. The addition of Popeyes highlights Braehead Shopping Centre’s aim to enhance its portfolio and attract a diverse customer base, including a younger demographic. Rob Jewell, managing director at scheme asset manager Pradera Lateral, said: “We continually seek to offer customers the best dining and retail experiences, and Popeyes’ unique range will undoubtedly be a popular addition to our already extensive range. With Braehead being the first Scottish shopping centre to house this iconic brand, it will provide visitors with an opportunity to try a new and highly anticipated eatery, ultimately enhancing their overall experience at the centre.”

Victoria Leeds welcomes local restaurant operator for new concept

2nd December 2024

Victoria Leeds is set to welcome Indian restaurant operator Tharadavu for its new concept, UYARE. The Leeds-based, award-winning operator is set to open its new venue in January, taking 7,000 sq ft within Victoria Gate. With space for between 150 and 180 guests, UYARE will feature distinct areas such as ‘Bhoomi – The Earth Restaurant’ and ‘Agni – The Fire Bar’. The menu will look to offer an array of traditional Kerala dishes whilst the bar will include a selection of wines, champagnes, cocktails, and local craft beers. Rachel Bradburn, leasing director at Victoria Leeds, said: “To welcome such a popular and successful local operator to Victoria Leeds, and support their wider regional growth, is a really exciting prospect. Independent, regional brands continue to play a key role in our tenant mix and we are pleased to welcome Tharavadu’s newest concept to our established food and drink line-up, providing yet another quality option for our customers.” Prakash Mendonca, director at Tharavadu, added: “As Leeds is our hometown, we are deeply committed to staying local, and it’s a privilege to be part of this vibrant community. Opening UYARE at Victoria Gate is a significant milestone for us—a chance to celebrate our […]

Missoma opens largest store to date on Carnaby Street

29th November 2024

Demi-fine jewellery brand Missoma has opened its largest store to date on Carnaby Street in London’s West End. Taking a 1,000 sq ft space at 56B Carnaby Street, the brand has opened adjacent to PANGAIA, the material sciences company which launched in the summer. The split-level store delivers the brand’s collections of recycled gold and silver products, including collaborations with brands such as Lucy Williams, Harris Reed, and Savi. It also offers piercing and welding studios designed for customers to shop, explore, and grow their collections. Missoma joins a number of other contemporary jewellery brands nearby, such as Metal Morphosis, House of Astrid & Miyu, and TwoJeys. William Oliver, retail leasing director at Shaftesbury Capital, said: “Missoma is a retailer that understands the importance of a physical store experience, which mirrors our approach when it comes to Carnaby Street. We’ve played a significant part in Missoma’s bricks-and-mortar journey, supporting its growth from online to physical retail. Through our collaborative approach to tenant relationships, we are making sure to hit the right notes across every sector and continue to build an unmatched retail offer in the West End.” This news follows the opening of Astrid & Miyu’s new flagship ‘House Of […]

Investment group agrees £340m Loungers takeover deal

29th November 2024

An investment group which owns the Majestic Wines and Poundstretcher brands has agreed a deal to acquire hospitality group Loungers for almost £340m. Fortress Investment Group has agreed to pay 310 pence per share for Loungers, which operates the Lounge, Cosy Club, and Brightside restaurant and bar concepts. This offer values the entire issued, and to be issued, ordinary share capital of Loungers at approximately £338.3m, with an enterprise value of around £350.5m. This represents a premium of 30.3% compared to Loungers’ closing share price before the bid was made. Fortress – which acquired Poundstretcher in April – said it believes it is a strong partner for Loungers, its management team, its employees and its other stakeholders in the next stage of the group’s growth journey. The investment group added that it believes in Loungers’ growth prospects, and the future of experience-led retail and hospitality offerings in the UK market. This comes as Loungers announces its results for the first half of the 2025 financial year, during which it recorded an increase in revenue of 19.2%, bolstered by 4.7% like-for-like sales growth and a net increase in sites of 35. The group – which operates over 280 sites – also saw...

B&Q owner and M&S emerge as bidders for Homebase stores

29th November 2024

Marks & Spencer and the parent group of B&Q have emerged as potential bidders to acquire a number of former Homebase stores following the DIY retailer’s collapse into administration. Kingfisher and M&S are among a number of retailers looking to acquire a chunk of the remaining 50 Homebase stores ahead of a deadline on Friday, Sky News has reported. The two companies are believed to be eyeing an acquisition of between 20 and 25 stores. Industry sources told Sky News that Home Bargains was also considering a purchase of a number of Homebase stores. This comes after The Range, owned by CDS Holdings, acquired Homebase’s brand and up to 75 stores earlier this month. The sale brought an end to the six-year ownership of Homebase by Hilco, the retail investor which has previously rescued brands such as HMV. Prior to this, Homebase was owned by Australian group Wesfarmers, which in 2018 launched a company voluntary arrangement leading to the closure of a number of stores and a renegotiation of rent deals. Following the acquisition, 74 Homebase stores were then placed on the market, ranging in size between 15,455 sq ft and 1.19m sq ft. You can find the full list […]

Loungers opens fourth Brightside restaurant

28th November 2024

Hospitality group Loungers has opened its fourth Brightside roadside restaurant at the Ram Jam services in Rutland. Located along the main route between Peterborough and Grantham, the new restaurant forms part of a purpose-built retail development comprising four units, adjacent to a petrol station and a bakery. Brightside – which was launched by Loungers as a means to “reinvigorate roadside dining in the UK” – opened its first three restaurants last year, located in Exeter and Honiton, Devon, and Saltash, Cornwall. Charlie Jones, operations manager at Brightside, said: “We are delighted that our Brightside experience, and our unique reinterpretation of roadside dining, is now available for those heading north.   “Ram Jam Services is an incredibly popular stop off for many motorists so this a great opportunity for us to offer them something new and really exciting. “Brightside Ram Jam is on a popular route, only 15 minutes from Rutland Water which attracts almost two million visitors every year.   “As well as catering to travellers we are also an excellent choice for those who live nearby, so we’re looking forward to meeting lots of locals too.” Loungers also operates the Lounges and Cosy Club brands. Earlier this year, the group’s chair […]

Nespresso brews up Covent Garden opening

28th November 2024

Coffee brand Nespresso is set to open a new boutique store within Shaftesbury Capital’s Covent Garden estate. Located at 34 Henrietta Street on the corner of Covent Garden’s Piazza, the opening of the 1,345 sq ft space next spring will follow the closure of Nespresso’s Regent Street store at the end of 2024. The new location will allow customers to discover a variety of Nespresso tastes and flavours, and browse the brand’s latest selection of products, including capsules, machines, and accessories. The boutique will also feature a dedicated space to highlight the brand’s sustainability progress, as well as a place for customers to drop their used capsules for recycling. Nespresso joins a number of global brands that have chosen Covent Garden to open anchor locations, such as tech giant Apple, beauty brand Glossier, and activewear brand Alo Yoga, which is opening a 5,000 sq ft store at 25a Neal Street. William Oliver, retail leasing director at Shaftesbury Capital, said: “As the UK’s leading destination for flagship locations from world-class brands, Nespresso’s commitment to open a new anchor store in Covent Garden is an ideal fit. Nespresso will add to the Piazza and wider neighbourhood’s already extensive backdrop of innovative lifestyle […]

Asian bar-restaurant concept to open first European location at Paddington Square

28th November 2024

Asian bar and restaurant concept CÉ LA VI is set to open its first location in Europe located atop Paddington Square in West London. Part of the ADMO Lifestyle Holding group, CÉ LA VI will span 17,000 sq ft across levels 17 and 18 of the Renzo Piano Building Workshop-designed building. Opening in summer 2025, the venue will become the highest rooftop restaurant in West London, and will join CÉ LA VI’s existing locations in Singapore, Dubai, Taipei, and Tokyo. The space will feature an indoor bar area which leads through into an upper lounge dining area, an indoor restaurant, and an outdoor dining space. Situated one floor above will be a private dining room, an indoor lounge area, and a cocktail bar. In total, CÉ LA VI will accommodate a total capacity of 425 covers. Sanjay Nandi, CEO of ADMO, said: “We’re excited to bring CÉ LA VI, a rooftop dining and nightlife brand born in Southeast Asia, to London. The opening will mark a milestone for ADMO, signifying the group’s rising prominence within the hospitality industry and growing presence in London’s phenomenal restaurant scene.”

Footasylum steps into upsized store at Merry Hill

28th November 2024

Footasylum has opened the doors to its upsized store at Merry Hill, tripling its footprint at the Dudley shopping centre. The streetwear retailer has combined its existing unit with an adjacent space to increase its presence from 3,000 sq ft to 10,000 sq ft. The store introduces a number of new features, including a mobile payment system to speed up checkout time, new digital screens, and a refreshed fit-out. Footasylum at Merry Hill also offers a greater range of products across all categories, including the addition of womenswear from brands like Nike and Adidas, as well as exclusive labels such as Forena and Dripmade. Footasylum looks to further diversify Merry Hill’s sports and athleisure offer, joining established retailers such as Shoezone, which recently renewed at the scheme. Alistair Winning, asset manager at Sovereign Centros from CBRE, on behalf of Merry Hill, said: “Merry Hill is a centre where brands not only succeed, but thrive, exemplified by the expansion of Footasylum. This year we have driven record levels of brand investment, with Footasylum now sitting amongst dozens of leading names that have both committed and recommitted to the destination, demonstrating Merry Hill’s transformation and catchment strength.” Footasylum’s upsizing follows the recent […]

Historic art deco cinema in Worcester handed £1.5m price tag

28th November 2024

A Grade-II art deco cinema building in Worcester has been placed on the market with a price tag of £1.5m. Spanning 7,218 sq ft, the former Northwick Cinema on Ombersley Road was designed by Charles E Wilford and constructed in 1938. The cinema’s original interior followed art deco interior designer John Alexander’s plans and the building remains the only surviving and complete example of his work. The building operated as a picturehouse until 1966 before reopening as a bingo hall until 1991 and then as an entertainment centre for five years. The property was purchased in 2004 by David and Helen Gray who began extensive restoration works. Following an 18-month restoration period, the cinema reopened as Grays of Worcester, a furniture store, which remains trading to this day. Fisher German, which is marketing the property, said it expects that the former cinema will appeal to any large retail company as a potential flagship store, or to developers who may wish to redevelop the building. Lauren Allcoat, senior associate at Fisher German, said: “This is a fantastic instruction for Fisher German with the property very much a local landmark.   “We have a vast amount of experience in selling similar properties over...