Ten new store lettings, including FRASERS, occupying a combined total of 88,063 sq. ft, plus five lease renewals totalling 12,634 sq. ft and three store refreshes, concluded 2025 on a position of strength Overgate, Dundee concluded 2025 as a transformative year for the centre, the city, and indeed the region. Since Frasers Group acquired Overgate in March 2023, a remarkable retail regeneration has been taking place across the 440,000 sq. ft centre which is located in the heart of Dundee, Scotland’s fourth largest city. Underpinning this has been an exciting and fast-paced tranche of leasing activity: ten new store openings occupying a combined total of 88,063 sq. ft, five lease renewals totalling 12,634 sq. ft, and three major store refreshes in the last year alone. As 2025 concluded, the early results from this scale of investment in Overgate by Frasers Group, in line with the Group’s Elevation Strategy, can be guided by sales and footfall. The percentage uplift in sales for 2025 was over 30%. Tenant occupancy is sitting at 90% as of December 2025. Commenting, Matt Elgey, Director, Sovereign Centros from CBRE says: “We are pleased to be entering 2026 on a positive note for Overgate. Ten new store openings, including FRASERS, occupying an impressive combined total of 88,063 sq. ft have been delivered in 2025. A further five lease renewals totalling 12,634 sq. ft, as well as three key store refreshes, concluded the year on a position of strength for the centre. “Since the acquisition of Overgate by Frasers Group in 2023 the momentum underpinning these improvements has been conducted at pace. Sovereign Centros from CBRE is proud to be delivering on the ambitious and exciting vision Frasers Group has set out for such an important Scottish asset as Overgate. These positive end of year results demonstrate the hard work Sovereign Centros has deployed in unlocking opportunities for Frasers Group across what was a very busy 12 months. Our focused commitment in securing new quality lease signings, as well as delivering a tranche of lease renewals, ensures Overgate is ready to embrace 2026 with a greatly expanded retailer offering and a stronger competitive advantage.” Anchoring 2025 was the opening of FRASERS in June – one of the largest shop fit-outs Dundee has ever seen, revitalising Overgate and creating over 80 new jobs. The 60,000 sq. ft FRASERS has brought a fresh vibrancy to the centre and an expertly curated selection of leading brands across sports, premium fashion and beauty. Spanning three floors, the FRASERS store also houses Sports Direct, USC, and GAME. Augmenting the dynamic new retail offering which FRASERS launched in June, the opening of an impressive new 5,000 sq. ft. FLANNELS store at the beginning of December 2025 – housing highly desirable luxury and contemporary brands – is enhancing the appeal of Overgate as an aspirational shopping hotspot. Earlier in 2025, in May and June, two of the most recognisable names in style arrived at Overgate: Clarks and Mango. Currently celebrating its 200th anniversary, iconic British heritage brand Clarks opened a new 2,160 sq. ft. store in May, with the brand’s distinctive footwear proving to be a popular addition to the centre. Swiftly following in June was the arrival of one of Europe’s leading fashion groups; Mango. Located within a prime site on the ground floor of Overgate, the store spans over 3,987 sq. ft and stocks exclusively Mango Woman. It is one of the first in Scotland to feature the group’s new Mediterranean-inspired concept, New Med. Far from the approaching year end being a time for retail operational pause and review, September and November 2025 saw a fresh charge of momentum with the opening of a further two new stores: Clintons and Nomination. Bringing a brand-new look and shopping experience, Clintons opened a 1,844 sq. ft store in September. In November, Nomination, the personalised jewellery brand which enjoys a huge cult following worldwide, opened a new 1,385 sq. ft store. Additionally, new openings in 2025 by Menkind, Bee Inspired, and Oud Studio have occupied a combined 3,948 sq. ft. Lease renewals are a particularly notable touchpoint in Overgate’s story of success with five renewals in 2025 including Ernest & Jones, Flying Tiger, and Fuel amongst others, occupying a combined total of 12,634 sq. ft. Elsewhere, investment by tenants both through store extensions and also refurbishments, is evident across Overgate. Superdrug, the UK’s leading health and beauty retailer, has increased its store footprint by over 35% from 7,125 sq. ft to 9,739 sq. ft, and introduced a range of new offerings including Beauty Studios, luxury fragrance counters, a nurse clinic, and an enhanced pharmacy. Likewise, Next has refurbished its store into a brighter environment with every area of the store given a fresh treatment. Holland & Barrett has radically transformed its store to reflect a slick aesthetic within which its expanded, high quality product range is now showcased, whilst Primark – a perennially popular anchor of Overgate – has introduced a new Click & Collect and a new Self Service as part of its refurbishment. Topping the year off for Overgate was two International Green Apple Environment Award wins. Presented by The Green Organisation – the non-profit organisation established 30 years ago to promote environmental stewardship worldwide – these two awards are in recognition of Overgate’s ongoing commitment to sustainability and excellence in environmental practice. A Highly Commended recognition as Security Team of the Year has also recently been accorded to Overgate by the SCEPTRE Awards. And in keeping with Overgate’s longstanding support of local charities and the communities they serve, the centre’s Christmas Toy Appeal 2025 on behalf of Help for Kids saw public contributions exceeding £10,000 in donations. Finally, the Overgate Santa’s Grotto remained free in 2025 and open to all, with over 1,500 books given away to children. Building, Design & Construction Magazine | The Choice of Industry Professionals

Developer-led estate expansion plans at Greggs are set to continue at pace, with the food-to-go operator targeting 120 net new store openings during 2026. The growth follows a busy 2025, during which Greggs opened 207 new shops, averaging almost four openings per week. That programme included 50 relocations and 36 closures, resulting in a net increase of 121 stores over the year. As of 27 December, the business operated a total of 2,739 outlets across the UK, made up of 2,137 company-managed stores and 602 franchised locations. Greggs said its expansion strategy remains focused on improving coverage in under-served catchments while relocating existing shops from constrained sites to better-positioned locations that can support higher footfall and longer-term growth. The store rollout is supported by continued investment in supply chain capacity, which is expected to come on stream during 2026. Greggs said these upgrades are key to unlocking further expansion while maintaining operational efficiency across its growing estate. The update comes alongside the release of the company’s fourth-quarter trading figures for 2025, which showed sales growth of 7.4% over the period. For the full year, total sales reached £2.151bn, representing an increase of 6.8% compared with 2024. Chief executive Roisin Currie said the business made solid progress during a challenging trading environment, noting that subdued consumer confidence continued to affect the wider food-to-go market. She added that Greggs had outperformed the sector and increased its share of customer visits. Looking ahead, Currie said the company enters 2026 with a strong pipeline of new opportunities that will make Greggs even more convenient for customers. She highlighted continued focus on efficiency and value, particularly for consumers managing household budgets, as a core driver of the brand’s ongoing expansion. With estate growth and infrastructure investment moving forward in tandem, Greggs is positioning itself for another year of sustained rollout across the UK. Building, Design & Construction Magazine | The Choice of Industry Professionals

Aldi has marked a major milestone in its ongoing UK growth push after opening five new stores within the space of 24 hours across 11 and 12 December. The new branches are located in Uxbridge, Northallerton, Pershore, Old Kent Road in London, and Yate in Bristol, significantly increasing the retailer’s reach in the run-up to Christmas. The openings form part of Aldi’s long-term ambition to operate 1,500 UK stores, up from its current total of around 1,070. The supermarket has outlined a substantial investment plan to support this expansion, including £650 million allocated for store launches and refurbishments in 2025, and a further £1.6 billion committed over the following two years. Jon Neale, real estate managing director at Aldi UK, said the rapid series of openings highlights both the retailer’s momentum and the strong demand from customers for more local access to its offer. He added that launching five stores in the days leading up to Christmas will provide a timely boost to shoppers in each of the newly served areas. Neale emphasised that Aldi remains focused on expanding in locations where it can make the greatest positive impact, supported by teams that deliver its value-focused approach. He said the retailer is moving at pace to bring its combination of low prices and high-quality products to more communities across the country. With the latest openings completed, Aldi’s expansion drive shows no sign of slowing as it continues to target new sites and broaden its national footprint heading into 2025 and beyond. Building, Design & Construction Magazine | The Choice of Industry Professionals

Plans to transform the former BHS store and University of the Arts London College of Fashion site on Oxford Street have been unanimously approved by Westminster City Council, paving the way for a major mixed-use scheme in the heart of the West End. Located at 33 Cavendish Square, the redevelopment will deliver around 800,000 sq ft of high-quality office space, 102,000 sq ft of retail floorspace, and 38,000 sq ft dedicated to cultural and creative uses. The cultural offering will include an auditorium and flexible event areas intended to support exhibitions, launches, performances and a wide range of public-facing activities. The new office accommodation aims to set a benchmark for modern workplace design, with the scheme targeting BREEAM ‘Excellent’. The entire development will operate on fully electric systems, align with net-zero carbon ambitions, and include more than 1,000 cycle parking spaces to promote sustainable travel. John Bushell, principal at KPF, said the team was delighted to secure planning approval for a project that captures the vibrancy and character of the West End. He noted that the design blends world-class retail with contemporary workspaces and cultural venues capable of hosting everything from major product launches to conferences. Bushell added that the scheme will reinforce Oxford Street’s global reputation while delivering lasting benefits to businesses, residents and visitors. Construction is expected to begin in 2029, with completion anticipated in 2033. Once delivered, the development will bring new life to a prominent Oxford Street block, replacing outdated structures with a landmark destination for commerce, creativity and culture. Building, Design & Construction Magazine | The Choice of Industry Professionals

Outlet Shopping at The O2 is closing out 2025 with a strong development push, securing a series of new lettings, first-time outlet formats and significant store upgrades across the scheme. Leading the latest wave of activity is Lovisa, which is making its debut in the outlet sector. The jewellery brand has taken a 1,722 sq ft unit positioned between Dune London and Kurt Geiger. The new store will be fully fitted out to showcase Lovisa’s complete range of necklaces, earrings and rings, and will incorporate a dedicated area for piercing services. Also joining the line-up in its first outlet location is British heritage menswear brand T.M. Lewin. The retailer is set to broaden the menswear offer at The O2 with a new 1,827 sq ft unit, designed to accommodate its core formal and businesswear ranges. The Entertainer has opened its first outlet store in London within a 2,121 sq ft space at The O2. The new fit-out has been configured to house a wide selection of leading toy and games brands including LEGO, Barbie, Disney and Nintendo, reinforcing the scheme’s family offer. Adding a distinctive new concept to the tenant mix, art toy retailer POP MART has delivered a ‘roboshop’ adjacent to Mint Café. The installation brings POP MART’s vending machine model to an outlet environment for the first time, providing an automated retail unit designed to tap into the growing popularity of the ‘blind box’ format and offer a compact, high-impact addition to the mall. In a further vote of confidence, long-standing tenant New Balance is reinvesting in its presence at The O2. The sportswear brand is upsizing into a 3,129 sq ft unit that will be completely refurbished to showcase its latest global store concept, enhancing merchandising capacity and improving the overall customer journey. These construction, fit-out and expansion moves follow a strong trading period for Outlet Shopping at The O2, which recorded a 23% uplift in sales in November compared with 2024, alongside a 24% increase in footfall across the scheme. Louisa Dalgleish, leasing director at Outlet Shopping at The O2, said:“As a destination already anchored by leading retail brands, the fact that we continue to secure high-profile outlet debuts underlines the strength and momentum of the scheme. Our performance is driven by a collaborative landlord approach and a carefully curated tenant mix. The positive results throughout November demonstrate that demand remains robust, and Outlet Shopping at The O2 is firmly on the radar for brands looking to enter or expand within the outlet market.” This latest round of lettings and store investments follows the announcement that Guinness World Records will open its first permanent entertainment venue in the UK at The O2 in late 2026, in a 25,000 sq ft unit that will undergo a major fit-out to deliver an immersive experience. KLM and CBRE act as leasing agents for Outlet Shopping at The O2. Building, Design & Construction Magazine | The Choice of Industry Professionals

Highcross Leicester has announced the opening of beauty retailer Superdrug, signalling continued brand confidence in the destination following a flurry of new additions in recent months. Together, these openings reinforce Highcross Leicester’s appeal to leading UK brands, and its position as a prime retail destination in the region.   Superdrug’s new 8,800 sq ft store, located on the lower level of the mall, close to long-standing tenant Levi’s, showcases Superdrug’s vibrant range of beauty, health, and wellness products in its latest store format. Superdrug joins Highcross Leicester’s premium lineup of health and beauty brands, including Jo Malone, Lush, and Clarins.  Highcross Leicester’s beauty category has continued to level up in recent months, with the opening of Space NK’s city debut, taking a 3,000 sq ft unit on the lower level, near Reiss. It stocks best-in-class beauty brands such as Charlotte Tilbury, Rare Beauty, and Laura Mercier. Rituals also recently opened at the scheme, boasting its range of fragrances and must-have gift sets in its signature store layout. These openings build on the centre’s strong leasing momentum throughout 2025, adding more trusted beauty names to its tenant mix and appealing to the centre’s widespread catchment and diverse audience. Michelle Menezes, Centre Director at Highcross Leicester, commented: “Superdrug joining the retail lineup at Highcross Leicester not only strengthens our already dynamic beauty offer, which has seen phenomenal demand this year, but also enables us to deliver more choice and convenience for our visitors. This opening reflects the ongoing confidence that leading brands have in our destination, marking another important step in our vision to enhance the shopping experience and appeal to a widespread demographic.” Clare Jennings, Property Director at Superdrug, added: “We’re thrilled to bring Superdrug to Highcross Leicester with the opening of our brand-new store. This spacious location reflects our ongoing commitment to investing in physical retail, enabling us to offer an even broader selection of products and services to shoppers. Designed to deliver a modern and engaging shopping experience, the store showcases leading health and beauty brands, a dedicated premium fragrance section, and our popular in-store Beauty Studio offering threading and waxing services. We’re also proud to support the community by creating 60 new jobs and contributing to Leicester’s long-term growth.” These openings follow leading retailer H&M reopening its newly fitted-out 24,400 sq ft store, which features the brand’s latest interior with the integration of self-checkouts and click-and-collect services. Other retail brands at Highcross Leicester include Zara, Mango, Next, and Urban Outfitters, anchored by a 230,000 sq ft John Lewis. Time Retail Partners and LM act on behalf of Highcross Leicester. Mason & Partners act on behalf of Superdrug. Building, Design & Construction Magazine | The Choice of Industry Professionals

FLANNELS, one of the most exciting players in luxury retail, has opened a brand-new standalone store in Overgate, Dundee. Located within a prime site on the upper level of Overgate, adjacent to the impressive new Sports Direct, the much-anticipated new FLANNELS store spans 5,000 sq. ft. FLANNELS Dundee presents a luxury, aspirational shopping experience within a striking interior, and houses luxury and contemporary menswear, womenswear, kidswear and accessories from labels such as Off White, Balenciaga, C.P. Company, BOSS, Vivienne Westwood, GANNI, REPRESENT, and The Couture Club. The arrival of FLANNELS to Overgate, the region’s premier shopping destination located in the heart of Dundee – Scotland’s fourth largest city and the UK’s first UNESCO City of Design – follows the recent opening of a three-storey FRASERS Dundee within the centre. Frasers Group acquired Overgate in March 2023 and since then has transformed the centre with a tranche of new store openings and significant lease extensions. Tenant occupancy of the centre is sitting at 90%. Commenting, Malcolm Angus, Centre Manager, Overgate said: “We are delighted to welcome FLANNELS to Overgate, in what marks another significant moment for the centre, and indeed the region. “FLANNELS is a greatly admired fashion retailer, offering highly desirable, luxury and contemporary brands. There has been huge interest in the arrival of FLANNELS to Dundee and this opening marks another exciting addition to the centre as it continues its remarkable retail transformation. “We look forward to welcoming our customers to FLANNELS and to experience its impressive luxury retail offering.” ABOUT OVERGATE Overgate is located in the heart of Dundee city centre, Scotland’s fourth largest city and the UK’s first UNESCO City of Design. The 440,000 sq. ft (37,161 sq. m) centre is the region’s premier shopping destination and is owned by Frasers Group. Frasers Group acquired Overgate in March 2023 and has accelerated a tranche of new store openings and significant lease extensions over the last 24 months. Anchoring the 70-unit centre is a 60,000 sq. ft FRASERS which opened in June 2025 – one of the largest shop fit-outs Dundee has ever seen, transforming Overgate and significantly strengthening the east coast of Scotland’s retail offering. Spanning three floors, the FRASERS store also houses Sports Direct, USC, and GAME. Other high street favourites within Overgate include Primark, Next, Mango, Rituals, Pandora, Clarks, H&M, DV8, River Island, New Look, Footasylum, Office, Schuh, JD Sports, Superdrug and Boots as well as a food and drink offering including Starbucks, Costa, Greggs, Muffin Break, Five Guys, Chopstix and Subway. Building, Design & Construction Magazine | The Choice of Industry Professionals

Superdry & Co is planning to open up to 15 new stores across the UK as it pushes ahead with a refreshed growth strategy and wider European ambitions. Chief executive Julian Dunkerton, who co founded the business, said the fashion brand is actively exploring new locations in cities including Bath, Dundee, Lincoln and Norwich. The planned openings form part of efforts to revive sales and reposition the retailer following a challenging trading period. Superdry was delisted from the London Stock Exchange in April last year and subsequently implemented a restructuring plan, approved in June 2024. Under that plan, the company is set to cut rents on 36 of its 94 UK stores and close 47 outlets, creating a leaner core estate from which to grow. Earlier this year the retailer rebranded as Superdry & Co, introducing a new look and feel across its portfolio. Flagship sites on London’s Oxford Street, as well as stores in Nottingham and Dundee, have already been refitted to showcase the updated aesthetic, which will be rolled out to future openings as the brand’s expansion gathers pace. Building, Design & Construction Magazine | The Choice of Industry Professionals

Merry Hill has announced that M&S has opened its latest renewal store concept at the top 10 UK shopping destination, featuring a brand-new Coffee Shop, fresh market-style foodhall, and expanded fashion, home & beauty offer. The opening represents a major investment by M&S and the landlord, and underlines Merry Hill’s position as a location where leading retailers continue to grow and thrive. Spanning 100,000 sq ft, the new M&S marks a significant reinvestment after 35 years at Merry Hill. The store brings together two existing units into one flagship space, reflecting M&S’s long-term commitment to its loyal customers at the centre. The new foodhall offers an enhanced shopping experience, with wider aisles, expanded product ranges, produce from M&S’ Select Farm partners and standout new features such as an iconic cheese barge, in-store bakery, and dedicated Flower and Wine Shops. Across fashion, home and beauty, the store has been reimagined to deliver a seamless shopping experience for customers. Home, menswear and kidswear now come together to form a full fashion destination on the upper mall, while womenswear has moved to the lower mall. Adding to the transformation is the brand-new M&S Coffee Shop, located just outside the main store, where customers can find a range of breakfast and lunch choices, alongside cakes and pastries, barista-made coffee and iced drinks. Graeme Jones, Executive Director at Sovereign Centros from CBRE, on behalf of Merry Hill, commented: “This opening builds on the centre’s transformation in recent years. It’s a move that wouldn’t have been possible a few years ago, but with Merry Hill thriving, the time is right to create a growth platform for M&S and use that evolution to unlock new opportunities. Importantly, it delivers even more for our customers, enhancing the visitor experience at M&S, and allowing us to introduce new brands that have wanted to be here for a while, and are now willing to commit to Merry Hill, having seen the significant changes that have taken place.” Calum Telford, Regional Manager at M&S, said: “M&S Merry Hill is one of more than 20 new or renewed stores we are opening across the UK in the remainder of this financial year, and it’s fantastic for customers to see the full transformation. Renewing our stores is all about delivering the very best of M&S and the best possible shopping experience for our customers. Our transformed store does just that and our focus is now on delivering the trusted value and exceptional quality we’re known for. As we celebrate 35 years at Merry Hill, it is brilliant to be starting this next era for the store.” This landmark investment by M&S follows a wave of major anchor tenants joining Merry Hill, including Hollywood Bowl, international home retailer Harvey Norman, premium fitness brand XF Gym, and the soon to launch Funstation.  JLL, Time Retail Partners, and Font Real Estate represent Merry Hill.  Building, Design & Construction Magazine | The Choice of Industry Professionals