News
Shaftesbury Capital welcomes six F&B concepts to Soho
18th April 2024Shaftesbury Capital has announced the addition of six new food and beverage concepts to its Soho portfolio. Making its debut at 15-16 Kingly Street in May is contemporary Aegean restaurant The Counter, which will open a 2,000 sq ft space with a 20-seat outdoor terrace. The restaurant will also feature a 30-cover downstairs bar, called Under The Counter, offering cocktails inspired by Greece, Turkey, the Mediterranean, and the Levant. Also opening on Kingly Street is the latest venue from the Little Door & Co. Joining four other sites in London, The Little Violet Door, located at 9 Kingly Street, will span 3,400 sq ft and provide an afternoon to late night offer with a house party-style environment. Meanwhile, pub and cocktail bar Two Floors has expanded its presence in Soho, with Shaftesbury Capital undertaking a redevelopment of three townhouses to create new ground floor units with an office provision upstairs. Previously occupying only 3 Kingly Street, Two Floors has extended into number 4 to create a combined unit spanning 2,850 sq ft. Shaftesbury Capital has also welcomed the first bricks-and-mortar location for noodle bar Liu Xiaomian, which has opened on the first floor of Kingly Court. The restaurant’s menu draws […]
Deals
Breitling boutique opens in Leeds
18th April 2024Breitling has opened its 28th boutique in the UK at 1 Commercial Street in Leeds, following a £2m investment. The Swiss watchmaker has opened the store in collaboration with its long-standing partner, Berry’s Jewellers. Spanning 1,850 sq ft, the boutique is one of Breitling’s largest outside of London. Simon Walton, managing director at Berry’s Jewellers, said: “We are thrilled to open the first stand-alone Breitling boutique in the heart of Leeds City Centre this April. Following a £2m investment, this will be one of the largest Breitling boutiques outside London and provide watch enthusiasts in the city with a dedicated space to experience the full range of Breitling timepieces. “Leeds is a dynamic city with a discerning clientele, and we are confident that our new boutique will be a welcome addition to the luxury retail landscape. “Situated at number 1 Commercial Street, the boutique is right in the heart of Leeds’ vibrant shopping district and offers a sophisticated and welcoming environment. Customers can expect a personalised shopping experience with our knowledgeable staff who will guide them through Breitling’s legacy of Swiss watchmaking excellence.”
Requirements
Aldi unveils wish list of priority London locations
21st March 2024Aldi has revealed its list of priority locations in London where it is looking to open new stores. The supermarket retailer recently announced its long-term plan to operate 1,500 stores across the UK, with a particular interest in locations within the M25 due to strong demand. As part of a £500m investment to increase its presence in London, Aldi is aiming to open a further 100 stores within the M25. Priority locations include: Aldi is offering a finder’s fee for property agents, who recommend a previously unknown site, of 1.5% of a freehold price or 10% of the first year’s rent for leasehold sites. The retailer is on the hunt for sites at least in size 20,000 sq ft for its standard stores, with around 100 dedicated parking spaces and preferably on a main road with good access and visibility. Aldi is also looking for smaller sites to accommodate its Aldi Local format, which are around 5,000 sq ft in size. Jonathan Neale, managing director of national real estate at Aldi UK, said: “We want to make high quality, affordable food accessible to all, but there are still many areas in the capital that don’t have access to an Aldi […]
Insights
Teesside Park: British Land’s “winning” retail park format in action
14th March 2024As the retail landscape has evolved over the past few years, retail parks have become an increasingly attractive investment, or as British Land boss Simon Carter previously put it: “the winning retail format”. But what drives their success? For Grace Waterworth, asset manager at British Land, retail parks offer customers and businesses the three ‘A’s – affordability, adaptability, and accessibility. Waterworth is part of the team behind Teesside Park in Stockton-on-Tees, an asset which she says is a “prime example” of offering these three ‘A’s: “The format is incredibly attractive to retailers due to lower occupational cost ratios than high streets or shopping centres, driven by lower rents, rates and service charges and strong store turnover”, she says. Once a traditional, ‘boxy’ retail park, Teesside Park in the Tees Valley – of which British Land owns around 585,000 sq ft – is the primary retail destination for the surrounding catchment, which includes the towns of Darlington, Hartlepool, Redcar, and Middlesbrough. Accessibility to these surrounding areas has played a key role in the scheme’s success, says Waterworth: “At Teesside Park there is excellent access from the A66 and A19 directly into a large, free car park. This makes Teesside Park ideal […]
Advice
Finding the right retail property for you
20th March 2024William Barton / Shutterstock.com Every business is unique, and for those who want to enter the world of physical retail, finding the right property is no different. If you’re a retailer ready to take your business to the high street, finding the right place to start can be daunting. It can be a real balancing act, but knowing what to look for before you begin your search can give you a head start. So here are the top things to consider when looking for the right retail property: Location, location, location It may be a cliché at this point, but the old adage rings true: location is one of the most important things to consider when choosing the right retail property. The first thing to consider is your target audience. You’ll want to find somewhere that attracts a demographic that matches your customer base. For example, if your business is looking to appeal to an audience of young adults, an area with a high student population such as in a university district would be an ideal spot. It’s also important to consider your local competition. Depending on the type of business you run, nearby competition either be beneficial to you […]
News
Pradera Lateral makes senior addition to management team
18th April 2024Retail asset management firm Pradera Lateral has made a senior addition to its management team with the appointment of Rob Jewell. A retail real estate specialist, Jewell brings asset management and investment expertise with over 18 years in the sector. Beginning his professional career at ING REIM where he repurposed assets within the core commercial and living sectors, Jewell then moved to Landsec where he was responsible for the asset management of a shopping centre portfolio worth over £2bn. Flagship assets in the portfolio included Trinity Leeds, White Rose, St David’s Cardiff, and Buchanan Galleries Glasgow. He then moved to Axis Retail Partners, an investment and asset management business where he was managing director. Founded in 2000, Pradera’s £2.9bn portfolio extends to just under 183 million sq ft and comprises 59 shopping centres, retail parks, and grocery assets, with over 2,500 stores in 10 countries. The company’s UK business extends to 53.8 million sq ft and includes assets such as Trafford Centre in Manchester, Bristol’s Cribbs Causeway, and Eldon Square in Newcastle. In his new role, Jewell will work on the existing UK portfolio and will look to utilise the business’s resource and talent pool to continue delivering on objectives, […]