Morrisons is exploring a potential £1bn property financing deal as it looks to strengthen its position in an increasingly competitive grocery market. According to reports in a leading financial news outlet, the Bradford-based supermarket group has appointed property advisory firm CBRE to assess options for raising funds secured against part of its substantial freehold store portfolio. Sources indicate that discussions remain at an early stage and are unlikely to centre on a traditional sale-and-leaseback arrangement of the kind widely used by major grocers in previous decades. Instead, one option under consideration is a medium- to long-term borrowing facility secured against a selection of Morrisons supermarkets. While any transaction could potentially raise up to £1bn, neither the final structure nor the scale of a deal has been confirmed. Morrisons operates around 500 supermarkets across the UK and employs approximately 95,000 people. The business was taken private in 2021 by US buyout firm Clayton, Dubilier & Rice in a deal valued at close to £10bn including debt. Since then, performance has been mixed. Aldi overtook Morrisons last year to become the UK’s fourth-largest supermarket by sales, intensifying pressure on the chain to regain lost ground to competitors such as Sainsbury’s and Aldi. In 2023, Morrisons appointed Rami Baitieh, formerly of Carrefour, as chief executive in a bid to drive a turnaround strategy. One of Morrisons’ distinguishing features is its extensive property ownership. The company holds the freehold on roughly 80% of its store estate, one of the highest proportions in the sector. Industry sources suggest that releasing £1bn through either a sale-and-leaseback or a leverage-based structure would still leave the business with about 60% of its stores in full ownership. The supermarket has also been steadily reducing the debt taken on during the 2021 acquisition, with roughly £1bn of takeover financing reportedly still outstanding. During the competitive bidding battle for Morrisons, Clayton, Dubilier & Rice committed to limiting major disposals of store freeholds for a defined period. Since then, most real estate activity has focused on non-store assets. In 2024, the company entered into a partnership with investment firm Song Capital, which paid £370m for the right to receive income from 75 Morrisons supermarkets over a 45-year period. Alongside Asda, Morrisons is one of the UK’s major grocers now under private equity ownership. Asda is owned by TDR Capital, with former parent Walmart retaining a minority financial stake. Last month, Morrisons reported what it described as strong Christmas trading results. Rami Baitieh said the 2024/25 financial year marked another period of renewal and modernisation, highlighting twelve consecutive quarters of like-for-like sales growth, stable EBITDA and maintained market share despite challenging economic conditions. Morrisons declined to comment on the prospect of a property financing deal. Building, Design & Construction Magazine | The Choice of Industry Professionals

Livingston Designer Outlet has secured refit commitments from leading occupiers Castore and NEXT. As Scotland’s largest outlet destination, Livingston Designer Outlet continues to drive investment from both its existing and new brands.  The expanded and refitted Castore unit represents a key building block inthe brands ambitious journey to become the UK’s leading premium sports-wear brand. Through its partnership with Rangers Football Club via its Umbro license, the 3,000sqft Livingston store will offer fans and athletes the opportunity to shop for the latest fan and training collections at significantly discounted prices.   Meanwhile, the relocated and refitted NEXT store is now occupying a prominent location in the North Mall as an anchor tenant. As well as delivering a fresh, new store – this move formed part of a strategic repositioning project at the destination. This initiative focuses on putting the right brands in the right spaces to maximise commercial impact and deliver the best possible customer experience and is a key pillar of the 2026 roadmap.  Already this year,Livingston Designer Outlet has confirmed the forthcoming arrival of immersive leisure experience Flip Out, F&B brands Tikka Nation and Sides and independent deli and butcher’s operator, Hamilton & Brown. Coupled with the Castore and NEXT refits, these combined investments indicate the strong appetite for a presence in one of Scotland’s premier retail and leisure destinations as it enters its next growth phase.  Nicky Lovell, Head of Outlets and Retail Business Development at Global Mutual said: “This significant investment into their stores from two of our key tenants is testament to the success of Livingston Designer Outlet in supporting the commercial ambitions of our retailers. Outlet shopping is proving to be a key business driver for our brand partners and the commitment of Castore and NEXT to creating leading store environments at Livingston is the perfect start to what promises to be a hugely successful 2026 for the destination.”    Building, Design & Construction Magazine | The Choice of Industry Professionals

Croydon Council has received a planning application from URW for refurbishment works at the Centrale Shopping Centre, marking a further step in the regeneration of Croydon town centre. The submission by Unibail‑Rodamco‑Westfield (URW) – owner of both Centrale and the Whitgift Centre – seeks permission for a refreshed look to the North End entrances and the building’s façade. Plans outline new glazed frontages, a large digital screen and enhanced lighting intended to improve the streetscape. The existing colonnades along North End would be infilled to remove concealed areas and deliver contemporary, more attractive shopfronts on this busy pedestrian route. Executive Mayor Jason Perry has welcomed the application as aligning with his Growth Plan to create a vibrant, modern town centre for residents, workers and visitors. He said: “Croydon is changing – becoming a brighter, more welcoming town centre that honours its heritage whilst looking confidently to the future. I welcome this planning application for Centrale as part of URW’s wider North End masterplan, supporting growth and encouraging inward investment into our borough.” The proposals form the opening phase of URW’s Masterplan Framework to reimagine the North End Quarter as a mixed hub of retail, culture, public spaces and new homes. They build on recent momentum, including the revival of the former Allders building, where six new shops and food outlets have opened in Allders Parade. The Centrale upgrades would sit alongside several Council‑led public realm schemes nearing completion on Wellesley Road, George Street and Dingwall Road, delivering safer, greener and more welcoming connections across the town centre. This spring, targeted street cleaning and decluttering will take place from West Croydon station to North End to create a more appealing shopping environment. New wayfinding will also be installed to help people explore Croydon’s cultural, heritage and retail destinations. North End has a long and varied history beyond retail. The Whitgift site previously housed Trinity School of John Whitgift (formerly Whitgift Middle School), named after Archbishop John Whitgift, founder of the town’s historic Almshouses and the Hospital of the Holy Trinity. The school relocated in the 1960s and the site was redeveloped as the Whitgift Centre, which opened in 1970. Further up the high street, the ornate façade of Grants reflects its past as a prestigious 19th‑century department store that drew aristocratic visitors, supported by Croydon’s early role as home to the UK’s first international airport. Building, Design & Construction Magazine | The Choice of Industry Professionals

EFT Group Ltd has submitted a planning application for a major redevelopment at Southport Business Park, paving the way for a new headquarters and promising fresh employment and apprenticeship opportunities, with support from Sefton Council. Backed by the council’s Business and Regeneration team, the Southport family firm plans to relocate to long-vacant plots F, G and H off Wight Moss Way, after the authority agreed a 999-year lease. The move begins the formal planning phase for the scheme, which had previously attracted positive feedback at pre-application stage. EFT Group specialises in life safety, security and construction services. The business has expanded in recent years while remaining in Southport, where it employs a substantial local workforce and supports school-based apprenticeship schemes. The site earmarked for the company’s new headquarters has sat undeveloped for more than a decade due to difficult ground conditions and the lack of government funding. Cllr Marion Atkinson, Leader of Sefton Council, joined company directors Adam Watts and Stewart Meechan at the recent unveiling of the new EFT Global headquarters. Cllr Atkinson said: “This move represents yet another major step forward for Southport’s economic future and I must commend our Business, Regeneration and Planning officers for working alongside EFT Group to help them get to this vitally important stage. “Not only will we retain a thriving local business but we’ll also bring new life to a site that has been underused for far too long. “EFT Group’s investment will create high-quality jobs and opportunities for residents while demonstrating our commitment to supporting homegrown businesses. “By encouraging businesses to invest locally, provide apprenticeships and create meaningful employment, we doing everything we can to secure the long term economic recovery and improvement of Southport and Sefton. “Businesses recognise what an incredible platform this part of the Liverpool City Region can be for their own growth and for us it helps keep amazing talent in our borough, supports our care experienced young people into work and ultimately builds a stronger future for everyone in Sefton.” Jordan Duggan, Co-Director of EFT Group, said: “As a local family company, we are proud of our roots in Southport. “This development reflects our commitment to the area and our belief in its future, with this investment EFT Group is firmly bedding our roots into Southport for the next 50 years, creating a lasting base for our business, our employees and the next generation of workers across Sefton. “We look forward to continuing to work with stakeholders, the local authority and the community as this exciting project progresses.” The application will be considered at a forthcoming meeting of Sefton Council’s independent Planning Committee, which will weigh all relevant factors before reaching a decision. Building, Design & Construction Magazine | The Choice of Industry Professionals

A planning application to move the Moston Superstore from Pym Street to a new site on Kenyon Lane has been lodged, paving the way for a public square at the heart of a £25m regeneration of Moston Lane. If approved, the store would relocate to the Ebsworth Street car park site, creating a larger supermarket with dedicated car parking and a cycle store for the first time. Parking on Pym Street will stay open to the public, and vacant plots on Albine Street and Cole Street – formerly used by Manchester College – are due to reopen for public parking later this year to offset the loss of spaces at Ebsworth Street during construction. Following the Council’s acquisition of key plots between Pym Street and Hartley Street, the current supermarket site would be cleared to deliver a new public square fronting Moston Lane, intended as a central community hub. The square is designed to be flexible, hosting markets and community events, with new seating, lighting, trees and planting to draw shoppers and visitors, support local businesses and strengthen the local economy. The wider investment programme in Moston has already delivered new social housing, pocket parks and green spaces, junction upgrades, road safety improvements, new alley-gates and targeted action on fly-tipping and other environmental issues. On Moston Lane, enhancements to three pocket parks were completed last year alongside investment in the Simpson Memorial Hall and Community Hub. In recent years, more than £3m in government grant funding has supported new social and affordable homes for local residents. The 2023 framework indicates that vacant land behind Moston Lane could accommodate around 80 new homes, potentially a mix of apartments and town houses, including social and genuinely affordable properties. Ground-floor spaces are envisaged for new retail and commercial uses, with potential health and community facilities and dedicated parking. A further 30 to 40 family homes are proposed for a site between Waterman close and Ebsworth Street to the south of Moston Lane, helping to meet demand for larger properties in the area. Draft designs for the square and new homes will be published once a developer is appointed to deliver the homes and commercial space. The selection process is expected to conclude in the coming months, after which the Council will consult with the community on the plans. To give residents and businesses a stronger voice in the regeneration, the Council is establishing a new advisory group chaired by local councillor Paula Appleby. The group will help shape local priorities, guide future investment, work with the appointed developer and feed into the design of the new square and public realm. Moston Lane is one of the first focus areas in the Council’s city-wide High Street Investment programme. Building, Design & Construction Magazine | The Choice of Industry Professionals

Developers bringing forward a new local retail centre in Swaffham, Norfolk, have welcomed Tesco to the scheme. Redleaf is delivering Brandon Road Shopping Centre, an 850 sq m (9,150 sq ft) commercial development at the front of Cygnet Rise, a new residential scheme launched in September 2024 of 160 new houses being built by Abel Homes. Having brought in Tesco Express as the anchor store, Redleaf is also in advanced discussions with a national coffee operator, leaving c.335 sq m (3,600 sq ft) for remaining commercial uses – with a minimum of 75 sq m. Brandon Road Shopping Centre benefits from planning consent for all retail uses – A1, A2, A3, A4 and A5. Sui Generis uses would require consent. There are 36 demised car parking spaces. Interest in the remaining space can be discussed directly with Redleaf. Paul Bishton, Founder of Redleaf, comments: “Redleaf prides itself on delivering high-quality commercial developments to compliment equally high-quality residential schemes and it’s a pleasure to be working with Abel Homes, Tesco and others to ensure these new homes are served by suitable amenities that meet the needs of local residents. With a convenience store and coffee shop on the way, we’d also love to hear from any other retail operators interested in locating to Brandon Road Shopping Centre.” Paul LeGrice, managing director of Abel Homes, said: “Our Cygnet Rise development is very much about creating a new community, providing a new local centre, a care home and assisted living units, as well as much-needed new homes.  We are delighted to be delivering another key component of the community so early in the scheme’s programme, fulfilling the promises we made when we brought plans for the site forward.” Tesco Swaffham Express store manager Ashley Stolworthy said: “We are delighted that the fit-out of our new Swaffham Express store has started and we look forward to opening in the coming weeks. As well as serving customers with a wide variety of food, drink and bakery options, the store will also have on-site parking and an ATM. “We are also committed to supporting the local community through the Tesco Community Food Connection scheme, which redistributes surplus food to charities and community groups from every Tesco store at the end of each day.” The new shopping centre is being constructed by Warwick Burt Construction Ltd. of Northampton. Building, Design & Construction Magazine | The Choice of Industry Professionals

Railpen, manager of the £34bn railways pension scheme in the UK, has signed two brands at Multistory, its 295,000 sq ft (NIA) office building in Birmingham. This follows the completion of phase one last year, which comprised the creation of 27,000 sq ft of retail and leisure space on the ground floor, with now only one unit remaining to let. 92 Degrees Coffee, founded in Liverpool in 2014, is opening its first Birmingham location at Multistory in early February, a vibrant space that reflects its belief in quality, community, and experience. The new coffee shop will be open to the public and tenants, offering sit-in or takeaway coffee, alongside a dedicated kiosk within the new co‑working hub. It will be serving its signature Damn Fine Coffee, as well as its curated range of great products. That Day, the gym and wellness studio, has also signed at Multistory for 5,300 sq ft, delivering a state-of-the-art facility for occupier use, offering wellbeing workshops, fitness classes, therapy, and coaching. It is due to open in Q1 this year, adding to a collection of amenity uses designed to enhance productivity and wellbeing within Multistory’s workspaces, such as a library, a 15,000 sq ft indoor-outdoor bar and café area with a 2,000 sq ft terrace, an adjoining atrium, and a unique 80-seat auditorium. Emily Atkinson, Asset and Transaction Manager at Railpen, said: “Securing That Day Fitness and 92 Degrees Coffee is a strong endorsement of the direction we are taking with Multistory. These brands share our ambition to create places that establish a sense of community and connection between employees and their place of work. This is an approach we take across our entire office portfolio, selecting brands that will add real value for people working in and around our developments, but also ones that encourage staff retention, attraction, and productivity.” Jack Brewitt, CEO of 92 Degrees Coffee, said: “This opening is a special one for us. It’s not just our first franchise, but our first Birmingham store – a city that’s been on our radar for some time. Multistory felt like the perfect fit: a development that shares our values, with a strong sense of place, a diverse community, and a real vision for the future. We’re proud to partner with Ketch&Co to bring #DamnFineCoffee™️ to the heart of Birmingham and to keep building connections that matter.” Multistory is a grade A standard office building in the heart of Birmingham, boasting the city’s largest single floorplate at 41,000 sq ft, which is now available to let. A three-minute walk from Snow Hill train station, five minutes from Birmingham New Street, and five minutes from the proposed HS2 station, Multistory plays a key role in supporting Birmingham’s continued regeneration and wider UK growth by offering flexible, future-focused space designed around people and place. As well as targeting BREEAM Outstanding, WiredScored Platinum, EPC B and a Fitwell two-star rating, Multistory has parking for over 280 bikes with shower and changing facilities, 92 car parking spaces, and ten EV charging points. Multistory is just one of Railpen’s developments across its office portfolio in the UK, which have all been designed and developed to create high-quality, sustainable, and amenity-rich workspaces that appeal to modern occupiers and their employees. The portfolio also includes Mill Yard and Botanic Place in Cambridge, both of which are currently under construction, alongside several in London, such as Red Lion Square, 125 Wood Street, 101 Bayham, Jamestown Courtyard, 4 Coleman Street, and 12 Smithfield. CBRE and Creative Retail are the retail and leisure leasing agents on Multistory, CBRE and Avison Young lead on the office leasing, with V7 Asset Management advising. Building, Design & Construction Magazine | The Choice of Industry Professionals

Lidl is pressing ahead with a rapid phase of UK expansion, announcing plans to open 19 new stores over the next eight weeks while simultaneously committing £43m to upgrade more than 70 existing locations across its estate. The store openings, which equate to a new Lidl site launching almost every other day, will see the discount retailer extend its footprint into new communities, including towns such as Calne in Wiltshire and Brough in Yorkshire. The programme forms part of Lidl’s wider strategy to strengthen its national presence through a combination of new-build developments and targeted investment in existing assets. Alongside the new stores, Lidl is undertaking a significant modernisation drive across its established portfolio. The £43m investment will focus on improving customer flow and in-store efficiency, with upgrades including new till systems, expanded freezer capacity and revised layouts designed to accommodate growing demand for frozen and chilled products. Sustainability remains a central element of Lidl’s development strategy. The refurbishment programme will incorporate energy-saving measures such as chillers that use natural refrigerants and intelligent lighting systems that automatically reduce electricity consumption. These upgrades align with the retailer’s longer-term ambition to lower operational emissions while delivering more efficient buildings across its UK estate. Richard Taylor, chief real estate officer at Lidl GB, said the latest round of investment reflects the company’s intent to begin the year with momentum. He said the expansion would not only improve the shopping experience for customers but also deliver tangible benefits for the communities in which Lidl operates. The programme also represents a notable pipeline of construction activity, supporting contractors, consultants and local supply chains involved in both new-build delivery and refurbishment works. With food retail continuing to demonstrate resilience amid wider market uncertainty, Lidl’s accelerated rollout highlights the ongoing demand for modern, energy-efficient retail space in the UK. As competition among supermarkets intensifies, Lidl’s focus on rapid delivery, cost-effective construction and sustainable design positions the retailer to capture further market share while reinforcing its long-term commitment to investing in the UK built environment. Building, Design & Construction Magazine | The Choice of Industry Professionals

IKEA has chosen The Boulevard outlet shopping centre in Banbridge as the location for its first-ever outlet store in Northern Ireland, marking a significant milestone in the continued evolution of the retail-led scheme. The new 2,691 sq ft store forms part of a revised, smaller-format concept for the Swedish furniture retailer and will operate as a pop-up until spring 2026. The unit has been delivered as a flexible fit-out, offering planning services, a curated home furnishings range and a hub for online order collections, aligning with changing customer behaviour and omnichannel retail strategies. The opening follows a standout year for The Boulevard, which recorded double-digit growth in both sales and footfall. The performance underlines the strength of the scheme as a destination and highlights the importance of well-located, experience-led retail environments in the current market. Owned by Lotus Property, The Boulevard has benefited from ongoing investment in tenant mix, infrastructure and placemaking. Its strategic position close to the A1 corridor, linking Belfast and Dublin, has been a key factor in attracting national and international brands looking to test new store formats outside traditional city centres. Alastair Coulson, managing director at Lotus Property, said the scheme’s combination of strong footfall, accessibility and on-site management expertise made it an ideal environment for retailers trialling new concepts. The centre’s ability to deliver adaptable retail space quickly has also proved attractive, particularly for brands seeking lower-risk entry into new markets. The Boulevard, which opened in 2006, continues to build momentum through a mix of new lettings and phased enhancements. Recent arrivals include Northern Irish cosmetics brand BPerfect, alongside fashion names such as Vila and French Connection, both of which selected the scheme for market-first locations. The centre is also home to the only standalone Northern Irish stores for several global brands, reinforcing its regional importance. Beyond retail, the scheme is expanding its leisure and food and beverage offer as part of a broader strategy to create an all-day destination. A new Hollywood Bowl is due to open later this year, introducing a bowling alley, restaurant and family entertainment space, and supporting the growth of a night-time economy at the site. With a critical mass of retail, leisure and adjacent big-box operators already in place, The Boulevard is positioning itself as a long-term investment location capable of adapting to evolving occupier requirements. IKEA’s outlet debut is the latest endorsement of that strategy, signalling confidence in the scheme’s future as one of Northern Ireland’s most dynamic retail destinations. Building, Design & Construction Magazine | The Choice of Industry Professionals