Commercial : Retail News

British Land Expands Retail Park Portfolio with £240m Acquisitions

British Land Expands Retail Park Portfolio with £240m Acquisitions

British Land has bolstered its leading retail park portfolio with £240 million worth of acquisitions, reflecting a strong blended net equivalent yield of 7.4%. These strategic acquisitions align with the company’s plan to reinvest the £360 million from the sale of its stake in Meadowhall Shopping Centre into expanding its

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Wickes and Starbucks seek to open new Team Valley stores

Wickes and Starbucks seek to open new Team Valley stores

ONE of the North East’s largest business parks is to welcome two new retailers. UK Land Estates is developing a new store for Wickes on the former Huwoods site on Team Valley and a drive-thru Starbucks outlet. The Wickes outlet will see the national DIY chain open a new 25,000sq

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New Retail Park Planned for Swindon

Plans for New Retail Park Announced in Swindon

Plans for a new retail park on land adjacent to the A420 in Swindon have been unveiled, sparking significant local interest and debate. The site, strategically located opposite Gablecross police station and adjacent to the Sainsbury’s on Oxford Road, has been purchased by the RO Group. This development, close to

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How Flexible Design Transforms Retail Environments

How Flexible Design Transforms Retail Environments

Retail design strategically utilises space, aesthetics, and functionality to enhance the shopping experience. Zentia’s Prestige suspended ceiling tiles offer a wide range of colours to align with brand identity and seasonal themes. Their easy installation and adaptability enable quick changes to store layouts without compromising aesthetic or acoustic quality, ensuring

Read More »
M&S to Open 10 New Stores as Part of Convenience Drive

M&S to Open 10 New Stores as Part of Convenience Drive

Marks & Spencer is set to invest in its £1bn convenience business, with the retailer planning to open 10 new stores in 2024. The retailer will also ‘renew’ a further 50 convenience stores this year. M&S stated that by the end of the year, it will have a presence in

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Currys to Invest in 50 of Its Largest Stores This Year

Currys to Invest in 50 of Its Largest Stores This Year

Currys has announced a significant investment in its store portfolio, with 50 of the retailer’s stores set to undergo a revamp this year. The electronics retailer stated that a blended in-store and online omnichannel model remains crucial to its customers, with two-thirds using stores to make their purchases. Under the

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Frasers Group Acquires Doncaster Shopping Centre

Frasers Group Acquires Doncaster Shopping Centre

The Frenchgate Centre in Doncaster, formerly known as the Arndale Centre, has been purchased by Frasers Group for an undisclosed sum. The shopping centre houses major brands such as Next, H&M, and TK Maxx, and is conveniently located near the main railway and bus stations. Frasers Group views this acquisition

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Expanding Horizons: Aldi's Ambitious UK Expansion Plans

Expanding Horizons: Aldi’s Ambitious UK Expansion Plans

Aldi, the popular supermarket retailer, has unveiled its latest plans to expand its footprint across the UK, aiming to achieve its long-term target of 1,500 stores. Currently operating over 1,020 stores, Aldi is actively seeking new locations to ensure high-quality food is accessible to all. In a bid to identify

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Latest Issue

BDC 321 : Oct 2024

Commercial : Retail News

British Land Expands Retail Park Portfolio with £240m Acquisitions

British Land Expands Retail Park Portfolio with £240m Acquisitions

British Land has bolstered its leading retail park portfolio with £240 million worth of acquisitions, reflecting a strong blended net equivalent yield of 7.4%. These strategic acquisitions align with the company’s plan to reinvest the £360 million from the sale of its stake in Meadowhall Shopping Centre into expanding its retail park footprint. These acquisitions are set to enhance British Land’s earnings, with projections indicating an increase in FY26 earnings per share by 0.7p, fully offsetting the dilution from the Meadowhall sale. Pro forma leverage, following the Meadowhall disposal, was 34.6% for FY24, with the new acquisitions raising this by 1.8%. The six retail parks acquired since April feature an impressive weighted average unexpired lease term of five years. They are let to strong multi-channel and essential retailers, known for their stable financial performance: Simon Carter, Chief Executive of British Land, commented on the acquisitions:“We’re seeing great opportunities to invest in retail parks, and we’ve quickly delivered on our plan to fully offset the earnings dilution from the £360 million Meadowhall sale with the acquisition of £240 million in high-quality retail parks at attractive yields. With low capital expenditure requirements and 99% occupancy, our retail parks portfolio is generating strong rental growth and offers attractive cash returns.” British Land’s investment in these prime retail parks highlights its commitment to capitalising on opportunities within the retail sector, ensuring strong returns while continuing to grow its portfolio across the UK. Building, Design & Construction Magazine | The Choice of Industry Professionals

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Sainsbury’s Expands Footprint with Acquisition of 10 Homebase Stores for Supermarket Conversions

Sainsbury’s Expands Footprint with Acquisition of 10 Homebase Stores for Supermarket Conversions

Sainsbury’s has secured a deal to acquire 10 leasehold properties from Homebase, with plans to convert them into supermarkets. These strategic locations are spread across England, Northern Ireland, and Scotland, aligning with Sainsbury’s goal of expanding its presence in key areas. Once transformed, the new supermarkets will feature shop floors ranging between 15,000 and 40,000 sq ft, collectively adding 235,000 sq ft to Sainsbury’s trading space. The acquisition is set to be finalised by early September, with the first store expected to open next summer. Sainsbury’s aims to complete all conversions by the end of 2025. The retailer has earmarked approximately £130m for this investment, covering the total capitalised cost of leases, acquisition premiums, and fit-out expenses. Sainsbury’s anticipates strong financial returns from these stores, with return on capital employed expected to be comfortably in the low teens, surpassing its cost of capital. Simon Roberts, CEO of Sainsbury’s, stated: “Our food business continues to gain momentum as we advance with our Next Level Sainsbury’s strategy. We offer the best combination of value and quality in the market, attracting customers from our key competitors and consistently growing our volume market share. Expanding our supermarket footprint is a key part of our strategy to become the first choice for food across the UK, and these new stores will allow us to serve even more communities.” The Homebase stores set to become Sainsbury’s supermarkets are located in: Building, Design & Construction Magazine | The Choice of Industry Professionals

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Wilko and The Range Appoint Matalan Property Director to Lead Expansion

Wilko and The Range Appoint Matalan Property Director to Lead Expansion

CDS Superstores, the parent company of Wilko and The Range, has appointed Antony Darbyshire, former property director at Matalan, as its new Head of Property. Darbyshire brings over 30 years of experience in the retail property sector to his new role, where he will oversee the expansion of Wilko’s concept stores across the UK and Northern Ireland, as well as manage the 200-store portfolio of The Range. Darbyshire’s previous roles include a decade at Matalan and nine years as Head of Property at Sports Direct within the Frasers Group. His extensive background in property management is seen as a key asset as CDS Superstores moves forward with its ambitious growth plans. Commenting on the appointment, Alex Simpkin, Chief Executive of CDS Superstores, said: “We are thrilled to welcome Antony to our leadership team. His extensive experience and expertise in property management are exactly what we need as we accelerate our expansion plans and build on our success to date. Antony will play a critical role in ensuring that both The Range and Wilko continue to thrive and reach even more communities across the UK.” Simpkin also highlighted the company’s focus on revitalising the Wilko brand through innovative concept stores, encouraging landlords with suitable spaces to engage with them as they increase the pace of new store launches. Wilko, which was acquired out of administration by The Range last September, is set to open its sixth concept store in Poole on 16 August, following successful launches in Exeter, Luton, Plymouth, Rotherham, and St Albans. Building, Design & Construction Magazine | The Choice of Industry Professionals

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Wickes and Starbucks seek to open new Team Valley stores

Wickes and Starbucks seek to open new Team Valley stores

ONE of the North East’s largest business parks is to welcome two new retailers. UK Land Estates is developing a new store for Wickes on the former Huwoods site on Team Valley and a drive-thru Starbucks outlet. The Wickes outlet will see the national DIY chain open a new 25,000sq ft store, creating around 25 jobs. The Starbucks’ drive-thru outlet would see the global coffeehouse occupy a 1,800sq ft unit, creating approximately eight jobs. The moves follow a significant investment into Kingsway North by Team Valley Trading Estate owner, UK Land Estates, over recent years. As well as the new retail outlets, the company is also set to construct three detached, Grade A industrial units totalling 128,410sq ft. Tim Witty, development director at UK Land Estates, said: “We are delighted to be regenerating this important site at the entrance to Team Valley and look forward to bringing Wickes and Starbucks onto the estate. “Over recent years, the development and refurbishment of numerous industrial and retail units have created hundreds of jobs for local people and the arrival of Wickes and Starbucks will further build on that success.” UK Land Estates also plans to continue expanding Team Valley estate over the coming years, having also submitted planning applications for three new industrial units elsewhere on the estate. Tim added: “The three proposed industrial units are to be built speculatively and will bring new, much-needed industrial stock to the region’s commercial property market. “As a region, we have a real shortage of prime industrial space, therefore it is vital that we continue to back developments like these which can help plug that gap and ensure we remain an attractive place to do business. “Hopefully those plans will also find favour with the planning authorities and we’ll see spades in the ground on those developments by 2025.” For more information on UK Land Estates, visit: https://www.uklandestates.co.uk/ Building, Design & Construction Magazine | The Choice of Industry Professionals

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New Retail Park Planned for Swindon

Plans for New Retail Park Announced in Swindon

Plans for a new retail park on land adjacent to the A420 in Swindon have been unveiled, sparking significant local interest and debate. The site, strategically located opposite Gablecross police station and adjacent to the Sainsbury’s on Oxford Road, has been purchased by the RO Group. This development, close to the Amazon warehouse at Symmetry Park, is expected to become a vibrant hub for shopping and leisure in the area. The blueprint for the new retail park is modelled on the RO Group’s Solstice Park in Amesbury, which hosts well-known brands such as McDonald’s, Pizza Hut, Asda, and a Holiday Inn. This suggests that the Swindon development could see similar high-profile retailers and eateries moving in, providing a boost to the local economy and offering a range of new shopping options for residents. However, the announcement has sparked mixed reactions among locals. While some see the development as a positive investment, others express concerns about its impact on traffic, local infrastructure, and the struggling town centre. Sarah Bedwell, a local resident, voiced a common concern: “Revamp the town centre and build another hospital. We don’t need more retail parks; we need a hospital that can cope with the number of people in Swindon and a town centre that people are willing to visit and shop in.” Traffic congestion has also been a major point of contention. Martin Campbell highlighted this issue, stating, “Plenty of cars pass that area slowly as it’s poorly planned for the volume of traffic… fix the issues with the area first, or it will fail. No one wants to spend an hour commuting to the shops.” Similarly, Verity Yates remarked, “Yeah, right next to Amazon. Traffic is bad enough trying to get out, now you want more traffic! When’s the new road opening up first?” While some residents suggest alternative developments, such as a shopping mall similar to Cribbs Causeway in Bristol, or leisure facilities like a waterpark or speedway track, others argue that retail parks remain a practical solution. Paul Godfrey noted, “Everyone saying shops are needed in the town centre don’t realise that it’s pointless. There’s nowhere to park, and when you do find somewhere, it’s expensive. That’s why the town centre is dead, along with the lack of decent shops. All the retail parks around Swindon offer free parking for up to three hours.” In contrast, Dean Kershaw-Evans emphasised the enduring appeal of retail parks, stating, “It’s all very well people saying get the town centre sorted first, but these retail parks have been around for years and for me, they are still the way forward. If people want a town centre, then start going now to help rebuild it as a place for everyone to go. Be part of the solution, not part of the problem.” As the development moves forward, it is expected to be a topic of discussion at upcoming property networking events in Swindon, where industry professionals will explore potential collaborations and the broader economic impact on the region. The project reflects a growing trend of property investments in Swindon, positioning the area as an increasingly attractive location for retail and commercial enterprises. Building, Design & Construction Magazine | The Choice of Industry Professionals

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How Flexible Design Transforms Retail Environments

How Flexible Design Transforms Retail Environments

Retail design strategically utilises space, aesthetics, and functionality to enhance the shopping experience. Zentia’s Prestige suspended ceiling tiles offer a wide range of colours to align with brand identity and seasonal themes. Their easy installation and adaptability enable quick changes to store layouts without compromising aesthetic or acoustic quality, ensuring a seamless and inviting retail environment. What is Retail Design? Retail design directly impacts the customer experience and a shopper’s willingness to buy a product. It encompasses everything from store layout and organisation to interior design and colour selection. Good retail design can have a positive impact on a shop’s financial performance. Acoustics and the careful use of colour play an important part in this. Colour can convey a brand identity, help customers navigate an interior space, or even create different retail zones. Enhancing Brand Identity Through Retail Interior Design Brand identity is extremely important in retail environments, whether they be supermarkets or high street banks. Consumers connect to brand colours more than they realise, building relationships between the retailer and its customers. When you think of the most high profile brands, for example Barclays or Starbucks, you will probably associate a colour with their names. While colour can be used in retail interior design to enhance a brand, it is important to use it thoughtfully. Too much vibrant colour can cause sensory overload and make it difficult for customers to focus on products. Too much dark colour can make a store feel gloomy, causing customers to exit before purchasing. Customers are unlikely to make a repeat visit if they don’t enjoy the atmosphere in the store. Think too about the psychology of colour. Use blue to create a sense of security and trust, or red to encourage impulse purchases. Use black to communicate authority, or yellow and orange to convey creativity. Combined with good acoustic design, colour can be a powerful way to improve the customer experience. The Prestige family of products is an excellent product to use in retail ceiling design. It offers three different levels of sound absorption and is available in six different edge details. It can also be ordered in 34 different colours, as well as white. It is one of our most flexible product ranges for both acoustic performance and aesthetics. Easy Installation for Retail Design Efficiency Prestige acoustic ceiling panels are quick and easy to install, especially when used in combination with Gridline, our suspended ceiling grid. Choose a Board edge for a flat ceiling installation that completely exposes the ceiling grid, or a Tegular24 or Tegular15 edge type to create geometric shadows across the ceiling surface. Prestige ceiling tiles can also be specified in SL2 planks, ideal for corridors, as well as unique Integra and Conceal edge types, designed to eliminate shadows and conceal the suspended ceiling grid entirely. Balancing Aesthetics and Acoustics in Retail Design When it comes to acoustic design, the ceiling is the largest continuous surface in any interior and it can have a big influence on a store’s atmosphere. A suspended acoustic ceiling with a high level of sound absorption will create a very calm and quiet store. A suspended ceiling design with a lower level of sound absorption will create a louder and more lively environment. When choosing a ceiling solution, think about the retail environment you’re designing for. High sound absorption Does the store need a high level of sound absorption? If yes, a drop ceiling like Prestige hA+ can be an excellent design choice. Rated Class A for sound absorption with αw 1.00, the Prestige hA+ tile provides settings with a dose of calm and quiet. It is ideal for banks and other high street environments that are usually quiet. This tile is available in white only, so it suits interiors that require a more neutral colour scheme. Enhanced customer privacy Some retail spaces need to prioritise the customer’s privacy. In these circumstances, choose a tile like Prestige dB. These drop ceiling panels have an outstanding sound attenuation performance of 41dB. Prestige dB is good for changing rooms, treatment rooms, and offices behind the scenes. Its smooth and finely textured surface adds a clean and classic finish to any kind of interior. Vibrant atmospheres For retail environments that need a more lively atmosphere, consider Prestige. The classic Prestige ceiling tile are Class C rated in sound absorption, with an added sound attenuation rating of 33dB, a combination that helps manage ambient noise levels in open plan spaces. They are durable and scratch resistant and also rated 95% RH for humidity resistance. This is where the inclusion of colour into retail interior design can really add to the look and feel of the store. Prestige ceiling tiles are available in 34 exciting colours as well as white. Use them to incorporate splashes of the retailer’s brand colours across the ceiling, or to complement an existing colour scheme. Prestige ceiling tiles maintain superior aesthetic standards while providing crucial acoustic benefits, ensuring a pleasing shopping experience that minimises and manages disruptive noise levels. Click here to learn more about the Prestige family of products and how they can be used in your project. Building, Design & Construction Magazine | The Choice of Industry Professionals

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M&S to Open 10 New Stores as Part of Convenience Drive

M&S to Open 10 New Stores as Part of Convenience Drive

Marks & Spencer is set to invest in its £1bn convenience business, with the retailer planning to open 10 new stores in 2024. The retailer will also ‘renew’ a further 50 convenience stores this year. M&S stated that by the end of the year, it will have a presence in over 40 UK train stations, including Ealing Broadway, where it opened last month, and in Belfast, where it will open in October. This development follows the reopening of its Liverpool Street Station Mezzanine store, the first ever M&S convenience store at a mainline railway station, which has been updated in partnership with SSP. The store has been enhanced with an additional entrance, revamped chilled and floral sections, as well as the inclusion of freshly baked bakery products. New payment points have also been introduced, with additional self-service tills installed to reduce customer waiting times. First opened in November 2001, the Liverpool Street Mezzanine store remains a testament to M&S’s partnership with SSP. The group specialises in running travel food and drink outlets and currently operates 55 franchised M&S convenience stores across rail and air locations, as well as in some hospitals. Alex Freudmann, Managing Director of M&S Food, said: “Our renewal programme is all about making sure we have the right stores in the right place and with the right space, and this applies to our convenience stores as well. These stores offer the perfect range for customers on the move looking for sandwiches, salads, and snacks to eat now, as well as meals for dinner, such as our renowned Dine In offers. “The convenience channel complements our wider business and provides a halo effect, so it’s important that customers have the same fantastic shopping experience. The new renewal format for our convenience stores maximises these small spaces to deliver the M&S Foodhall experience for the missions our customers are shopping for as they travel. By renewing and growing our convenience estate, we’ll continue to deliver for our customers however, whenever, and wherever they want to shop with us.” Building, Design & Construction Magazine | The Choice of Industry Professionals

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Currys to Invest in 50 of Its Largest Stores This Year

Currys to Invest in 50 of Its Largest Stores This Year

Currys has announced a significant investment in its store portfolio, with 50 of the retailer’s stores set to undergo a revamp this year. The electronics retailer stated that a blended in-store and online omnichannel model remains crucial to its customers, with two-thirds using stores to make their purchases. Under the new changes, the stores will introduce new categories and seasonal showcases, as well as an enhanced focus on revitalising entrance spaces. New categories will include health and beauty, pet technology, portable power, and fitness – which the retailer said aligns with current consumer trends. Seasonal ranges will encompass categories such as BBQs and gardening equipment in summer, back-to-school tech and supplies in autumn, and new gifting ranges and services in winter. Currys’ investment in its ‘megastores’ has already commenced, with its branches in Swindon, Merry Hill, Brentford, and Solihull recently relaunching. The retailer – which operates 301 stores in the UK and Ireland – recently announced that it would be reimagining the layouts of 65 of its medium-sized stores. Overall, this brings the total number of stores that Currys plans to transform this year to 115. Matthew Speight, Director of Stores at Currys, said: “The investment in these 50 megastores builds on what we’ve already achieved this year so far, and I can’t wait to hear the feedback from inside and outside of the business on the new categories and seasonal items. “I continue to be blown away by the incredible teams around the business who work tirelessly to make such milestones a reality for our customers. Yet again, kudos to the colleagues – let’s keep building on the UK’s leading omnichannel retailer position and pushing to provide a best-in-class, easy-to-shop experience for our amazing customers.” Building, Design & Construction Magazine | The Choice of Industry Professionals

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Frasers Group Acquires Doncaster Shopping Centre

Frasers Group Acquires Doncaster Shopping Centre

The Frenchgate Centre in Doncaster, formerly known as the Arndale Centre, has been purchased by Frasers Group for an undisclosed sum. The shopping centre houses major brands such as Next, H&M, and TK Maxx, and is conveniently located near the main railway and bus stations. Frasers Group views this acquisition as a testament to their confidence in the future of physical retail. Michael Murray, CEO of Frasers Group, stated that acquiring the Frenchgate Centre underscores the company’s commitment to investing in brick-and-mortar stores. The group intends to use the space to expand their current Sports Direct store and to introduce other brands they own, such as USC and Evans Cycles. The shopping centre, which opened in 1968, saw a significant extension in 2006, linking it to a new transport interchange. One of the largest stores in the expansion was a Debenhams, which closed in 2021. However, plans were approved last year to convert the space into a cinema. Building, Design & Construction Magazine | The Choice of Industry Professionals

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Expanding Horizons: Aldi's Ambitious UK Expansion Plans

Expanding Horizons: Aldi’s Ambitious UK Expansion Plans

Aldi, the popular supermarket retailer, has unveiled its latest plans to expand its footprint across the UK, aiming to achieve its long-term target of 1,500 stores. Currently operating over 1,020 stores, Aldi is actively seeking new locations to ensure high-quality food is accessible to all. In a bid to identify optimal sites for upcoming store launches, Aldi launched a nationwide campaign in May 2024, inviting the public to suggest priority locations. The response was overwhelming, with thousands of requests pouring in from across the country. After carefully reviewing these suggestions, Aldi has updated its list of priority locations for new stores. The retailer is now targeting a variety of areas, including multiple sites in London such as Woodford, Surbiton, South Croydon, Notting Hill, Walthamstow, Beckenham, Bromley, and Barnet. Other targeted locations include Redhill in Surrey, Aldershot in Hampshire, Haywards Heath and Burgess Hill in West Sussex, Chatham in Kent, Cheadle and Chorlton in Greater Manchester, Formby in Liverpool, Newark in Nottinghamshire, Chesterfield in Derbyshire, Wellingborough in Northamptonshire, Rayleigh and Brentwood in Essex, Dorchester in Dorset, Clarkston and Cathcart in Glasgow, Penzance in Cornwall, Warwick in Warwickshire, and Bath in Somerset. Additionally, Aldi has identified over 100 potential sites within the M25 motorway and another 100 locations in the wider South East region where there is significant demand for new stores. Aldi’s expansion strategy includes both its standard stores and the smaller Aldi Local format, which caters to urban areas within the M25 with a size of around 5,000 square feet. Jonathan Neale, Aldi UK’s Managing Director of National Real Estate, emphasised the retailer’s commitment to accessibility: “We want to make high-quality food accessible to all, but we can’t do that while there are still some towns and areas that either don’t have an Aldi or have capacity for additional stores. We recognise there is huge demand in certain regions for more stores, which is why we decided to get the public’s input on our latest list of priority locations. They have helped us identify where demand is greatest, and we will continue to work to bring Aldi to as many people as possible.” To accommodate its expansion, Aldi is seeking sites that can host a 20,000 square foot store with around 100 parking spaces, ideally located near main roads with good visibility and access. This aggressive growth plan is supported by Aldi’s substantial investment strategy, which includes over £550 million allocated to its store and distribution network throughout 2024. This investment will fund the opening of new stores and the enhancement of existing locations and distribution centres. As Aldi continues its rapid expansion, it aims to meet the growing demand for its high-quality, affordable products across the UK. By engaging with the public and strategically selecting new locations, Aldi is well on its way to achieving its ambitious target, ensuring more communities benefit from the Aldi shopping experience. Building, Design & Construction Magazine | The Choice of Industry Professionals

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