Retail Property News

Public sector surveyor joins national property consultancy’s commercial team

28th February 2025

Property consultancy firm Barnsdales has appointed a former public sector surveyor as its new commercial management surveyor. Patrick Walton will be based at the company’s Doncaster headquarters, managing a property portfolio that includes office and retail developments, high street retail units, and industrial units across Doncaster, Sheffield, and the Midlands. Walton brings significant experience to the role, having previously worked as a surveyor for Barnsley Council. He has worked across office, retail, industrial, and agricultural properties, as well as in commercial and residential valuations. In his new role, he will be responsible for providing services to landlords and tenants, ensuring compliance, overseeing repairs, managing rent reviews, and handling lease transactions and service charge management. Walton joins Barnsdales at a time of growth, with the firm having recently won a series of notable deals, including taking on the management of the Frenchgate Shopping Centre in Doncaster and a shopping outlet consisting of 64 retail units in Aycliffe Town Centre, County Durham. Patrick Walton, said: “I am thrilled to be joining Barnsdales and excited to be part of such a dedicated, client-focused team. After meeting the team, I instantly knew it would be a great fit for me, as we share the same […]

JD Sports upsizes at Burnley shopping centre

28th February 2025

JD Sports is upsizing its presence at Charter Walk Shopping Centre in Burnley after signing a new ten-year lease. The sports fashion retailer will relocate from its current 3,973 sq ft store into a larger, 5,817 sq ft unit located opposite River Island and Superdrug. Landlord works are currently being undertaken by Burnley Council to amalgamate six vacant units for JD Sports’ new store, with a summer opening being targeted. Addington, the asset manager for Charter Walk Shopping Centre, is in active discussions with potential occupiers to re-let JD Sports’ current store. The retailer’s recommitment to the shopping centre follows a number of upsizes at Charter Walk. This includes Shoe Zone, which has upsized into the neighbouring 3,025 sq ft unit on a five-year lease, Specsavers, which has signed a 10-year lease for a larger, 4,999 sq ft unit, and One Beyond, which has taken the 10,015 sq ft former Wilko unit. Matthew Allen, principal at Addington, said, “We are delighted that JD Sports, who has been a key part of Burnley’s retail landscape for over 20 years has recommitted to the shopping centre. Occupancy across Charter Walk remains very high. By consolidating smaller units into larger, modern retail spaces,...

Wickes acquires four former Homebase stores

28th February 2025

Wickes has acquired four former Homebase stores following the DIY retailer’s collapse into administration last year. The retailer has taken over the leases of stores in Dunfermline, Bury St Edmunds, and Leeds Moor Allerton, which are set to open later this year under the Wickes brand. They join a former Homebase store in Northampton acquired by Wickes last July which is currently undergoing refurbishment. Wickes said the acquisitions will enable it to continue with its store opening programme whilst also entering catchment areas where it does not currently have a presence. Wickes chief executive David Wood said: “We are delighted to be acquiring these former Homebase stores and welcoming all colleagues currently working there into the Wickes family. “The acquisition of these four stores is a further boost to our ambitious store opening programme as we look to grow the Wickes brand, helping even more customers with their home improvement projects so they can feel house proud.” Wickes joins fellow home improvement brands in taking over former Homebase stores, such as B&Q which has acquired eight stores across the UK and Ireland. Homebase’s new owner CDS Superstores – which owns The Range and Wilko – has agreed to take on […]

Space NK to open three new stores in 2025

27th February 2025

Space NK is set to open three new stores across the UK in 2025. The beauty and cosmetics retailer will open new locations in Bluewater Shopping Centre, Chelmsford, and Highcross Leicester, with the first set to open in April. The stores will measure 2,760 sq ft, 1,824 sq ft, and 2,300 sq ft respectively. The retailer will also be expanding its existing store in Glasgow, upsizing it from 1,700 sq ft to 2,125 sq ft. Space NK head of retail Charlie Evans said: “Glasgow is one of our longest-standing stores, and we’re thrilled to be expanding. This will allow us to showcase more brands and better serve the growing demand we’ve seen in this location. “We have an ambitious year planned for our store openings – with exciting plans to follow for the second half of 2025. This is just the start of bringing Space NK to more customers, making it easier for them to shop the best in beauty.” The new openings mark continued growth for the brand, which last year opened stores in the likes of Centre:mk in Milton Keynes and Manchester Arndale.

Shaftesbury Capital sees portfolio valuation increase to £5bn

27th February 2025

Shaftesbury Capital has released its final results for 2024, during which it saw the value of its portfolio increase to £5bn by the end of the year. The central London mixed-use real estate investment trust said this was an increase of 4.5% on a like-for-like basis compared to 2023. Shaftesbury Capital’s portfolio extends to 2.7 million sq ft and is based across the neighbourhoods of Covent Garden, Carnaby, Soho, and London Chinatown. Over the course of the year, the group completed 173 leasing transactions, representing £48.7m of contracted rent. This was 9% ahead of the December 2023 estimated rental value (ERV), and 14% ahead of previous passing rents. Since the merger between Shaftesbury and Capital & Counties in 2023 to create Shaftesbury Capital, the group has completed £246.6m worth of disposals, and said it has reinvested £86m into acquisitions to improve the quality of its portfolio. The group also offloaded its 50% interest in Longmartin Properties to its joint venture partner for £94m in October. Ian Hawksworth, chief executive of Shaftesbury Capital, said: “We are delighted to deliver a strong set of results for 2024. Our West End estates continue to be busy and vibrant with high footfall and customer sales […]

Merry Hill fills leisure quarter with pair of F&B signings

27th February 2025

Merry Hill is set to welcome two new food and beverage operators, which will become the final addition’s to the West Midlands scheme’s new leisure quarter. Opening in April, Heavenly Desserts has signed for a 2,189 sq ft unit with space for 68 covers. Located next to Wingstop and opposite the recently-opened Loungers restaurant, the brand will deliver a dedicated dessert offer to the leisure quarter, complementing the existing line-up of savoury operators. Meanwhile, West-Midlands-based burger brand Burger & Sauce will join Merry Hill’s line-up of quick-service operators, opening a 2,106 sq ft location later this year. The restaurant will offer burgers, wings, and loaded fries, with space for 54 seated diners. Alistair Winning, asset manager at Sovereign Centros from CBRE, on behalf of Merry Hill, said: “The signings of Heavenly Desserts and Burger & Sauce are significant ones, because their openings later this year will signal the completion of the leisure quarter letting. The southern mall has truly been transformed into a dynamic dining destination, bringing together a blend of sit-in, quick-service, savoury, and sweet options, to respond to ever-evolving consumer demand and complement the nearby leisure from Hollywood Bowl and Odeon.” The new signings add to the £12m...

Kiki & Miumiu to open second location at Lewisham Gateway

27th February 2025

Independent pan-Asian food market Kiki & Miumiu is set to open its second location in the UK at Lewisham Gateway. Following a successful debut at Lendlease’s Elephant Park, the operator has secured a larger, 5,000 sq ft ground floor unit at the South London development. Set to open early this year, the new location will be Kiki & Miumiu’s largest to date and will stock a range of products from across the East and South East Asian region. The operator will become another addition to the area’s food and beverage offering, following the recent arrival of Pret a Manger, adjacent to Lewisham Gateway’s Station. Nick Weir, joint managing partner at Shelley Sandzer, which acted for Kiki & Miumiu, said: “Shelley Sandzer is once again the leasing agent of choice in matching the right brands with the right locations. Kiki & Miumiu has had phenomenal success since opening its first location, and is ready to expand to a new market. The brand adds a real point of difference to Lewisham Gateway, and will serve a strong residential community that will undoubtedly make the most of its varied offer.” Eddie Chan, owner of Kiki & Miumiu, added: “Our Elephant Park location continues […]

Cotswolds Designer Outlet management team expands with two appointments

26th February 2025

Development and investment firm Robert Hitchins has made two appointments to the on-site management team at the yet-to-open Cotswolds Designer Outlet. Paul Lacey has been appointed to the role of operations manager, whilst Hannah Swithenbank takes on the role of marketing and engagement manager. Led by centre manager Adrian Field, the management team is now working alongside the project and construction team in preparation for the opening of Phase 1 of the scheme this summer. The news comes as the scaffolding comes down this month, clearing the way for roofing, detailing, and landscaping. Paul Lacey has operational and facilities management experience at retail, leisure, and tourism destinations, most recently having worked in Operations at Warwick Castle. In his new role, he will look to deliver the smooth delivery of daily operations and create an exceptional guest experience and safe, welcoming environment. Hannah Swithenbank joins from ProCook, where she worked in digital PR and social media as well as design and photography. She will aim to leverage this brand perspective to positively shape the launch and ongoing marketing strategy for Cotswolds Designer Outlet. Adrian Field, centre manager at Cotswolds Designer Outlet, said: “I’m delighted to welcome Paul and Hannah to the team […]

Orchard Street snaps up 193,000 sq ft Leicester Retail Park

26th February 2025

Orchard Street Investment Management has acquired St George’s Retail Park in Leicester on behalf of its impact fund, the Orchard Street Social & Environmental Impact Partnership, from Tritax Big Box. Located half a mile from Leicester City Centre, the 193,000 sq ft retail park comprises 16 fully-let units, housing tenants such as Home Bargains, Pets at Home, Iceland, Aldi, and Costa Coffee. Orchard Street said the acquisition presents opportunities to evolve the tenant mix in the short-term whilst also decarbonising the asset in line with the impact fund’s social and economic objectives. The fund will look to undertake carbon refurbishments across the scheme – much of which was built during the 1980s – to improve EPC ratings from D-B to A, as well as electrify units to reduce carbon emissions, install solar panel arrays, and increase EV charging provision. Barney Rowe, portfolio manager of the impact fund at Orchard Street Social & Environmental Impact Partnership, said, “This is a popular retail park drawing on a very large catchment, proven by the calibre of existing tenants and high levels of customer footfall. We strongly believe the combination of the opportunities to reposition the tenant line up alongside the decarbonisation measures we intend […]

British Land completes flurry of retail deals at Broadgate Campus

26th February 2025

British Land has secured a flurry of retail lettings at its Broadgate Campus development in London. Fashion brands Ralph Lauren, Mango, Luca Faloni, Hobbs, and Whistles are all taking space at Broadgate Central, which spans the ground and lower ground floors of 1 Broadgate and 100 Liverpool Street and links Liverpool Street station to Finsbury Avenue Square, offering 120,000 sq ft of retail and hospitality space. 1 Broadgate will complete later this year, with the building’s office space 96% pre-let to JLL and A&O Shearman. This comes amid strong office leasing activity for British Land in 2025, which since the beginning of the year has agreed terms or placed under offer c.200,000 sq ft of space to businesses across various sectors. Simon Carter, chief executive at British Land, said: “This is a strong start to the year for Broadgate. The demand we’ve seen for workspace across the campus is due to its excellent connectivity and unrivalled range of amenities, with businesses seeking high quality space within a well located, thriving environment. The fantastic additions to our retail offer at Broadgate Central will only enhance the campus’s appeal.”

Lendlease brings coffee house concept to Stratford Cross’ Turing Building

26th February 2025

Lendlease has announced the opening of The Coffee House by Signorelli at Stratford Cross’ recently-completed Turing Building in East London. The 229 sq ft coffee shop is Signorelli’s fourth location within Stratford, and the local operator’s second within Stratford Cross. Alongside coffee, the shop will offer pastries baked in-house around the corner at Bakehouse by Signorelli. Anchored by Gordon Ramsay’s 10,000 sq ft Bread Street Kitchen and Bar, Stratford Cross is also home to 5,000 sq ft of independent F&B operators, including Greek restaurant Hera, and European small plates restaurant and bar Templar. The two operators opened at the end of 2024 alongside an Everyman cinema, coinciding with the completion of the Turing Building, a 350,000 sq ft office space. Guy Thomas, head of leasing at Lendlease, said: “The opening of The Coffee House underscores Stratford Cross’ growing reputation as a vibrant cultural hub, as another key element that caters to the growing community of creatives, office workers, and students. Building on the success of the amenities introduced at the end of 2024 – and with the completion of the new bridge that directly links with the London College of Fashion – Stratford Cross’ growth and position makes it a […]

Evolve Estates acquires Longbridge mixed-use scheme

26th February 2025

Evolve Estates, part of M Core, has acquired Park Point, a mixed-use scheme in Longbridge town centre. Completed in 2013, Park Point spans 66,382 sq ft and comprises a 75-bed Premier Inn hotel, eight ground floor retail and leisure units, and three storeys of office accommodation. Tenants include Costa Coffee and Greene King Brewing. Located approximately six miles south of central Birmingham, Park Point is a landmark property that forms part of the wider Longbridge town centre development. Joe O’Keefe, co-founder at Evolve Estates, said: “We were attracted to the mixed-use nature of Park Point, the income profile, location and spread of both tenants and sectors. “Longbridge is one of the largest regeneration schemes in the UK, and further investment is planned to bring new jobs to the area. It benefits from a strategic location with excellent transport links and is underpinned by great services.  “This and our proven track record in managing diverse assets make an attractive proposition.” Avison Young acted for Evolve Estates, Savills acted for the vendor.