The owners of Ocean Terminal have confirmed they have signed a deal which will bring a Tesco Express to the Leith waterfront development as part of multi-million pound plans to regenerate the site. The addition of the supermarket to the retail section of the redevelopment is expected to create up
Norway’s sovereign wealth fund, Norges, is poised to acquire a significant share in Meadowhall, a key shopping centre in Sheffield, enhancing its position in the UK retail sector. Norges is nearing a deal to buy out British Land’s 50% stake in the centre for around £363 million. This strategic acquisition
Stoke Gifford’s new Aldi store, situated on a newly developed mixed-use site at Fox Den Road (behind Sainsbury’s), is due to open on Thursday 13th June 2024. The tentative opening date for the supermarket is currently being advertised on a number of vinyl banners on display at the site. The
Real estate firm Redevco is embarking on a refurbishment project for its mixed-use building located at 376-384 Oxford Street, aiming to create a space that operates with net zero carbon emissions. Situated opposite Bond Street underground station, the building stands out as one of Oxford Street’s unique ‘island’ properties. Originally
Aldi has disclosed its list of priority locations in London where it aims to open new stores, as part of its ambitious expansion plans across the UK. The supermarket chain recently announced its intention to operate 1,500 stores nationwide, with a particular focus on areas within the M25 due to
In late March, the supermarket chain Sainsbury’s opened a new ‘local’ store within Princes Dock, situated on Liverpool Waters, creating 20 job opportunities. This expansion aims to cater to the growing number of businesses and residents within Peel Waters’ lively waterfront district. Occupying a ground floor unit beneath the 760-space
High-End Retail, Supermarkets and Mixed-Use Schemes Among the Modest Activity Retail construction orders fell to an all-time low during the final quarter of 2023, according to data from the Office for National Statistics. Construction orders, a proxy for development activity, totalled £1.3 billion in the fourth quarter of last year
Commercial lighting manufacturer and supplier, Whitecroft Lighting, has completed a major project to install innovative LED lighting systems in almost 80 stores across the UK for electrical retailer Currys, including branches in Manchester, Birmingham and Dundee. But rather than completely replacing the outdated lights, Whitecroft used its pioneering Relight system
Practical Completion has been achieved at Stadium Retail Park, a commercial development in Long Eaton, Derbyshire, that will be home to new locations for Lidl GB and Wickes. The site has been brought forward by Clowes Developments. IMA Architects (IMA) has worked with Clowes Developments to provide all architectural services
Marks & Spencer has announced a £30 million investment in its Scottish physical stores, with plans to introduce five new and expanded locations within the next 18 months. As part of this initiative, a £15 million injection is earmarked for Aberdeen Union Square, where the store’s footprint will nearly double.
The owners of Ocean Terminal have confirmed they have signed a deal which will bring a Tesco Express to the Leith waterfront development as part of multi-million pound plans to regenerate the site. The addition of the supermarket to the retail section of the redevelopment is expected to create up to 20 jobs as part of a major investment in Leith’s waterfront. The 4,700 sq ft ground floor unit will look out over a new public realm and future residential development. The announcement is the latest in a chain of positive developments on the site, including the relocation and upgrade of the 24/7 PureGym to a brand new unit earlier this month. Last year Ocean Terminal revealed it had agreed a long-term lease with Level X, the gaming and immersive entertainment provider, which will see a new purpose-built, state-of-the-art leisure venue open at the centre adjacent to a brand new Club 3000 Bingo venue which promises to be one of the best clubs ever developed in the UK, enhancing the leisure offering at the new look centre. Chris Richardson, Managing Director of Ambassador Investment Management, the Scottish owners of Ocean Terminal, said: “We are delighted to confirm a fifteen-year lease with Tesco which will bring significant benefits to the Leith waterfront development, cementing our commitment to ensure this project delivers for the local and wider community. “The addition of a new major retailer is a huge boost to the project and our longer term vision to to regenerate this waterfront area into a thriving, sustainable development creating an outward-looking, mixed-use town centre here in Leith. “We’re thrilled to have Tesco fully on board, which further enhances the multi-use, dynamic offering within the leisure space at the Ocean Terminal site.” Head of Campaigns for Tesco, Tony McElroy added: “We are excited to be opening a new Tesco Express in Ocean Terminal, as part of our ongoing investment and job creation plans across Edinburgh. We look forward to serving our customers and supporting local community groups through our Stronger Starts and Community Food Connection initiatives.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Norway’s sovereign wealth fund, Norges, is poised to acquire a significant share in Meadowhall, a key shopping centre in Sheffield, enhancing its position in the UK retail sector. Norges is nearing a deal to buy out British Land’s 50% stake in the centre for around £363 million. This strategic acquisition would place the total valuation of Meadowhall at approximately £725 million and is expected to yield a return of 7-8%. The move is seen as a strong indication of Norges’ confidence in the resilience and future profitability of top-tier retail locations across the UK. The discussions, which are in their final stages, were triggered by British Land’s decision last September to sell its share. Although a partnership continuation with British Land seems the most likely outcome, Norges is also considering other potential buyers. Under the proposed terms of the deal, British Land would maintain its role in managing the daily operations at Meadowhall, under the leadership of CEO Simon Carter. The shopping centre is home to a host of major retailers including Marks & Spencer, Zara, and Primark, adding to its appeal. This isn’t Norges’ first venture in UK property; its portfolio includes substantial stakes in London’s West End, notably a 25% interest in Regent Street managed by The Crown Estate, and a 23.5% ownership in Covent Garden through Shaftesbury Capital. Furthermore, it shares ownership of the West One shopping centre with British Land. Meadowhall has a storied history, developed on the site of a former steelworks by Yorkshire entrepreneurs Eddie Healey and Paul Sykes, and was sold to British Land in 1999 for £1.2 billion. Despite the challenges faced by the UK retail sector due to the rise of e-commerce and high business rates, Norges’ latest investment is seen as a testament to the enduring appeal of prime retail spaces. Building, Design & Construction Magazine | The Choice of Industry Professionals
Stoke Gifford’s new Aldi store, situated on a newly developed mixed-use site at Fox Den Road (behind Sainsbury’s), is due to open on Thursday 13th June 2024. The tentative opening date for the supermarket is currently being advertised on a number of vinyl banners on display at the site. The Stoke Gifford store is one of 35 that Aldi plans to open across the UK this year. Jonathan Neale, managing director of national real estate at Aldi UK, said: “After attracting more new customers than any other supermarket in the last 12 months*, we’re more determined than ever to expand our presence across the country.” “We want to make high-quality food accessible to all, and shoppers know they’ll always get more for their money when shopping at Aldi.” A Costa drive-through became the first unit on the site to begin trading when it opened its doors in early April. Other businesses on the development that will be opening soon are a Premier Inn and a Beefeater restaurant. The hotel is already being marketed – as the ‘Premier Inn Bristol Parkway (M32)’ – although at the time of writing bookings are not yet open. Signage at the site suggests that the Beefeater restaurant will be known as ‘The Gifford’, although the venue is yet to be listed on the firm’s website. Numerous job vacancies at Aldi, Premier Inn and Beefeater are currently being advertised. Links to the relevant recruitment websites may be found on the Jobs page of the Stoke Gifford Journal website. No opening dates for the hotel and restaurant have been released by the owning company, Whitbread, however it is noted that recruitment adverts are headed: “Starting 23rd May 2024“. Elsewhere on the site, a row of electric vehicle charging points has been installed, with ten associated parking bays, although these are not yet in use at the time of writing. Vehicular access to the development is via a single entrance/exit point on the access road into Sainsbury’s. There are five pedestrian access points, the main one being off Great Stoke Way, close to the roundabout near Aviva. Planning permission for the mixed-use development at Fox Den Road was granted in April 2021 and preparatory work, including the felling of trees around the 4-acre site, took place in January 2022. Beard Construction was responsible for the construction of the complex on behalf of the developer, Baylis Estates. A statement on the Baylis Estates websites describes the development as having been “completed in Q1 2024”, adding that it has been “forward sold”. Building, Design & Construction Magazine | The Choice of Industry Professionals
Real estate firm Redevco is embarking on a refurbishment project for its mixed-use building located at 376-384 Oxford Street, aiming to create a space that operates with net zero carbon emissions. Situated opposite Bond Street underground station, the building stands out as one of Oxford Street’s unique ‘island’ properties. Originally constructed in the 1950s, it has previously housed retailers such as C&A and, more recently, Gap. Currently, the fourth, fifth, and sixth floors are leased out as office space. Under Redevco’s plans, the second and third floors will undergo conversion into office space, while retail areas will be retained on the basement, ground, and first floors. The new retail store will maintain its existing triple-height frontage, ensuring a prominent presence on Oxford Street. The renovated offices will incorporate advanced features such as air quality sensors, technology-driven waste management systems, and a new building management system, all aligned with Net Zero targets. Redevco aims for a Well Platinum rating for all office floors in the building, demonstrating its commitment to sustainability. Chris Baker, UK portfolio director for Redevco, expressed enthusiasm for the project, highlighting Oxford Street’s significance for such an investment. He emphasized the project’s role in revitalizing a building with a rich history spanning over 70 years. Collaboration with existing occupiers, neighbors, and local stakeholders has been integral to minimizing disruptions and maximizing positive impact on the West End area. Faithdean has been appointed as the principal contractor, with TFT serving as the project manager. The refurbishment project is expected to be completed by 2025, aligning with Redevco’s mission to create more livable and sustainable cities. Building, Design & Construction Magazine | The Choice of Industry Professionals
Aldi has disclosed its list of priority locations in London where it aims to open new stores, as part of its ambitious expansion plans across the UK. The supermarket chain recently announced its intention to operate 1,500 stores nationwide, with a particular focus on areas within the M25 due to high demand. In a bid to bolster its presence in London, Aldi has committed £500 million to open approximately 100 new stores within the M25 region. The identified priority locations include: To facilitate the search for suitable properties, Aldi is offering a finder’s fee to property agents who recommend previously undiscovered sites. The finder’s fee amounts to 1.5% of the freehold price or 10% of the first year’s rent for leasehold sites. Aldi’s criteria for potential sites include a minimum size of 20,000 sq ft for standard stores, with approximately 100 dedicated parking spaces. Preferably, these sites should be situated on main roads with good accessibility and visibility. Additionally, Aldi is seeking smaller locations to accommodate its Aldi Local format, which typically range around 5,000 sq ft in size. Jonathan Neale, managing director of national real estate at Aldi UK, emphasized the company’s commitment to making high-quality, affordable food accessible to all Londoners. Neale stated, “The locations we’ve identified are areas where there is significant demand for our stores. We are dedicated to investing in these areas to ensure that our quality products and unbeatable prices reach as many people as possible.” Aldi’s expansion plans underscore its determination to provide affordable groceries to consumers across London, addressing the need for accessible and reasonably priced food options in underserved areas of the capital.
In late March, the supermarket chain Sainsbury’s opened a new ‘local’ store within Princes Dock, situated on Liverpool Waters, creating 20 job opportunities. This expansion aims to cater to the growing number of businesses and residents within Peel Waters’ lively waterfront district. Occupying a ground floor unit beneath the 760-space multi-storey car park, the new 5,748 sq ft Sainsbury’s Local store on William Jessop Way offers a picturesque view of Princes Dock and provides various convenient amenities, including a cash machine, in-store bakery, and Argos collection point. With over 2,000 residents now residing at Liverpool Waters, along with numerous workers and a year-round events programme, the new store will serve as another accessible facility for the local community. Liverpool City Council granted planning permission for the new store last year, which was previously occupied by Bean Café and Holyrood Nursery. Both businesses have continued to operate, with Bean Café recently completing a high-spec fit-out of their new coffee house and deli following their relocation to the adjacent unit. The opening of the new store follows a series of exciting developments for Princes Dock, which is poised to host the UK’s first Nordic-style public floating sauna. Additionally, Princes Dock will be the venue for the swim/run knockout event ‘The Eliminator’ scheduled for May 18. Patrick Dunne, Sainsbury’s Property Director, expressed his enthusiasm, stating, “We’re excited to welcome customers to try out our new store for the first time this week.” Liza Marco, Senior Asset Manager at Liverpool Waters, commented, “Following significant growth at Princes Dock in recent months, and an increasing number of visitors to the neighbourhood, it’s great to see Sainsbury’s joining the large number of businesses now based here.” Liverpool Waters is part of Peel Waters, a UK-wide portfolio of waterfront developments focused on delivering large-scale, sustainable regeneration projects. These initiatives aim to create jobs, spur economic growth, provide new homes, and enhance public spaces across the country. Building, Design & Construction Magazine | The Choice of Industry Professionals
High-End Retail, Supermarkets and Mixed-Use Schemes Among the Modest Activity Retail construction orders fell to an all-time low during the final quarter of 2023, according to data from the Office for National Statistics. Construction orders, a proxy for development activity, totalled £1.3 billion in the fourth quarter of last year on a rolling annual basis. The figure is the lowest since the data series began in 1985 and compares to an average of £3.2 billion since then and a high of £6.8 billion in 2006 – heady days when shopping centres Westfield, London and Liverpool One were being built. The ONS statistics are supported by CoStar’s data on new construction starts, which were also at their lowest on record in 2023 at 3.15 million square feet – a gradual slowdown over the past ten years from 14.4 million in 2014. This comes in the wake of the structural changes in the retail sector and development viability issues that are affecting all sectors – high finance and build costs, rising yields and subdued rental growth. Deliveries are also slowing sharply and with the recent trend of converting shopping centres and department stores to other uses, net deliveries have also reached an all-time low. Within the slowdown there are some modest outperforming segments that continue to see activity across the country. High-end retail schemes are among the most prominent, such as designer outlet villages at Scotch Corner and Tewkesbury, and large auto dealerships, including Porsche in Newport. Mixed-use projects, where retail forms part of large new residential schemes, have increased in prominence in recent years, and there are several underway including Lewisham Gateway and Green Haus in Salford. With retail park availability at an all-time low, a handful of schemes are among the key projects being built as well as several supermarkets – Aldi, Lidl and Tesco being the most active. Despite the slowdown in construction, net deliveries are still expected to outpace net demand this year, putting further pressure on the vacancy rate. But the slowdown in construction orders means fewer completions can be expected after that. Coupled with the trend of owners converting retail to other uses, the vacancy rate should then begin to stabilise. Building, Design & Construction Magazine | The Choice of Industry Professionals
Commercial lighting manufacturer and supplier, Whitecroft Lighting, has completed a major project to install innovative LED lighting systems in almost 80 stores across the UK for electrical retailer Currys, including branches in Manchester, Birmingham and Dundee. But rather than completely replacing the outdated lights, Whitecroft used its pioneering Relight system to reuse as much of each store’s existing lighting infrastructure as possible. This reduces the huge amounts of waste normally generated by major electrical refits, an important requirement for Currys as part of its 2040 Roadmap to Net-Zero strategy, which sets out how the company is reducing the carbon it produces. Whitecroft’s Relight low-energy LED lights have been installed in customer showrooms, office areas and even car parks, enabling Currys to reduce its energy consumption, helping to further cut its carbon emissions and shrink its electricity bills. Tom Gardener, Senior Facilities Manager for Currys, explains the rationale for the project: “Due to the sharp rise in energy costs in recent years, our business cases for lighting energy efficiency were flying through, particularly as the quickening returns on investment were suddenly very attractive. “Change was also driven by forthcoming legislation banning certain fluorescent lighting which sharpened our focus on how we can remove and replace some types of lighting from our estate. “Working with Whitecroft Lighting and learning about its approach to circularity – reusing and recycling materials – has been a very positive experience. We were impressed with the short and longer-term material and labour cost benefits of Relight, but we didn’t fully appreciate the carbon saving value until we worked on the product. “Our new lighting not only improved our energy efficiency but also our approach to circularity and reusing existing infrastructure. This helped to increase energy efficiency and reduce wasted carbon.” In total 77 Currys stores, mostly bigger out-of-town branches, were refitted across the UK by Whitecroft in a project that took just six months to complete. Richard Williams, Commercial Manager at Whitecroft Lighting, says the retailer’s approach to sustainability made Relight the perfect solution for the project. He says: “Currys had a clear approach to embedding circularity in its retail operation and was already a big recycler of consumer electrical goods. However, we saw an opportunity to extend this ethos beyond retail to its lighting by reducing waste in its facilities management. “While the latest LEDs would reduce operational carbon by around 40% through increasing energy efficiency, the circular approach to reusing materials, such as ceiling suspension materials and cabling, would also lower the embodied carbon, which are the emissions generated from the sourcing, manufacturing, installation and eventual disposal of products and materials.” This approach to creating a more sustainable approach by reusing and recycling material, often referred to as the Circular Economy, is being embraced more and more by businesses, builders and suppliers as the UK aims to meet stretching Net-Zero targets. In fact, the success of the Whitecroft Lighting project has helped shape Currys view of circularity. Tom Gardener continues: “Whitecroft’s Relight approach to circularity has certainly influenced facilities management at Currys, and we now expect suppliers to be clearer on type 1 and 2 emissions, and our larger T1 suppliers must report data on their own waste and travel. “Our facilities managers now increasingly factor sustainability into supplier questioning, as well as the overall performance review of all our suppliers for a project: do they fit with our direction of travel as a business, do they buy into it, or are they just paying lip-service to it?” Whitecroft Lighting is part of the Fagerhult Group, has 370 employees and turns over £55m. The company undertakes all R&D, product design and manufacturing in its UK HQ and neighbouring 10,000 sqm manufacturing facility. To find out more about Whitecroft Lighting Ltd visit www.whitecroftlighting.com Building, Design & Construction Magazine | The Choice of Industry Professionals
Practical Completion has been achieved at Stadium Retail Park, a commercial development in Long Eaton, Derbyshire, that will be home to new locations for Lidl GB and Wickes. The site has been brought forward by Clowes Developments. IMA Architects (IMA) has worked with Clowes Developments to provide all architectural services and act as Principal Designer on the scheme. The company has also worked alongside Millward Consulting Engineers and Roe Developments to deliver the site for Lidl and Wickes. The retailers will now bring in their own teams to carry out the bespoke fit out of the two stores. The 1.68-hectare Stadium Retail Park site has been built on a brownfield former industrial site that was derelict since 2014, located just off Nottingham Road. All amenities, landscaping and boundary treatments are now in place including car parking for 170 vehicles, including EV charging, parent and child parking and disabled spaces, and a service yard. It is expected that the new Wickes store will open before the Easter Weekend, and that the Lidl supermarket will open this summer. Marc Freeman, Director at Clowes Developments said: “The site had been derelict for 10 years and in the planning stage since 2018, so it’s positive that the site has now been developed and turned into an asset for the local community, creating jobs and bringing economic benefits to the town. We are sure the new Lidl and Wickes stores will be very popular.’’ Joe Travers, Associate Director at IMA Architects said: “This is our latest project with Clowes Developments, and we are pleased that the site has been delivered on time and will soon be a thriving retail location. Given the close proximity of residents, we were considerate to their needs throughout the construction phase and our designs for the site include additional landscaping, boundary treatments and acoustic mitigation measures to improve aesthetics and to ensure the scheme does not adversely impact people going forward.” Sarah Taitt, Property Director at Wickes said: “We are looking forward to opening our doors in Long Eaton in the coming months. We have been involved in the creation of the site from inception to completion which has meant that we could develop a location that perfectly suited our needs, and we are delighted with our new store at Stadium Retail Park.’’ Lidl GB’s Regional Head of Property, Dominic Bryan, commented: ‘’There’s been much anticipation for this new Lidl store and its great that we are now able to enter the next stages of development. We are extremely grateful for all the support we have received so far and look forward to bringing our high quality and best value produce to the local community.” Clowes Developments is one of the UK’s largest and strongest privately-owned property investment and development organisations. Headquartered in Ednaston, Derbyshire, the company are experts in land acquisition and promotion, property development and asset management, with 18,000 consented residential plots and 3,000 acres of development pipeline across the UK. IMA is an award-winning firm of architects based in Blaby, Leicestershire. The firm has completed more than 200 projects nationally and is actively working on 75 large-scale projects across the UK, Ireland and further afield. IMA works across all sectors and with a range of FTSE 100 companies – such as Marks & Spencer – as well as other global brands. The company is a proud Community Partner of Leicester City Football Club and a sponsorship partner of both Leicester Tigers RFC and Leicestershire County Cricket Club. Building, Design & Construction Magazine | The Choice of Industry Professionals
Marks & Spencer has announced a £30 million investment in its Scottish physical stores, with plans to introduce five new and expanded locations within the next 18 months. As part of this initiative, a £15 million injection is earmarked for Aberdeen Union Square, where the store’s footprint will nearly double. Representing one of the most substantial private sector investments in Aberdeen in recent years, the upgraded store will feature a market-style food hall, along with expanded clothing, home, and beauty departments. Set to open in spring 2025, this establishment will rank as the fourth-largest M&S store in Scotland. Rachel Rankine, M&S’s North East regional manager, expressed confidence in Aberdeen’s retail future, stating, “The scale of our investment is a vote of confidence in the future of retail in Aberdeen city centre, with a flagship store on the same scale as city centre stores in Birmingham and Liverpool.” In addition to the Aberdeen development, M&S will unveil a food hall in Linlithgow later this month and launch a full-line store in Dundee’s Gallagher Retail Park this summer. Furthermore, the retailer will make its debut in Largs with a new food hall scheduled to open in early 2025. This £30 million investment supplements the £32 million already invested in eleven Scottish stores over the past four years, which includes the introduction of new food halls in Paisley, Hamilton, and East Kilbride. The investment aligns with M&S’s goal to become the UK’s leading omnichannel retailer. The company aims to transition 247 existing stores into 180 higher quality, higher productivity full-line stores while also establishing over 100 food sites by the 2027/28 financial year. In addition to this current investment, M&S has inaugurated eleven new and revamped stores in Scotland over the past four years, including new food halls in Straiton (Edinburgh), Hamilton, Falkirk Central, Cumbernauld, East Kilbride, and Paisley. This also involves renewals and expansions in Glasgow Silverburn, Edinburgh Gyle, Anniesland, Glasgow West End, and Bishopbriggs. Furthermore, two convenience stores recently opened in Glasgow Battlefield and Glasgow Queen Street. Earlier in the year, fellow retailer Aldi unveiled plans to invest £56 million in its Scottish portfolio, intending to open three new stores in 2024. Building, Design & Construction Magazine | The Choice of Industry Professionals
