Boots Secures £6.7bn Takeover as Weston Family Targets New Era of Retail Investment
One of Britain’s best-known high street retailers is entering a new chapter following the announcement of a £6.7 billion takeover of Boots by Canada’s billionaire Weston family, bringing the prospect of renewed investment across its extensive UK and Ireland retail estate. The $8.9 billion (£6.7 billion) acquisition, being undertaken through the family’s holding company Wittington Investments, will see Boots move into long-term private ownership, with plans to strengthen the business through further capital investment and a renewed focus on its retail operations. The transaction includes Boots’ UK and Ireland businesses, Boots Opticians, No7 Beauty Company, its Thailand operations and international franchised businesses. Completion is expected in early 2027. For the UK retail property sector, the deal represents a significant change in ownership for a business operating approximately 1,800 stores nationwide, with a substantial presence across traditional high streets, shopping centres and retail destinations. The acquisition also raises the prospect of future investment in Boots’ physical retail estate, including potential store modernisation, refurbishment and improvements to customer-facing facilities, although specific property investment programmes have yet to be announced. Galen Weston, Chair of Wittington Investments, will become Chair of Boots following the acquisition. Commenting on the transaction, Weston said: “We see a meaningful opportunity to make a great business even better through stable long-term ownership, further capital investment, and the renewed operating focus required to serve customers with excellence for generations to come.” The Weston family brings considerable international retail experience to the acquisition, with interests including Canadian grocery giant Loblaw Companies and pharmacy retailer Shoppers Drug Mart. The family also has a long association with British retail property, having previously owned the landmark Selfridges department store business between 2003 and 2021. A separate UK branch of the Weston family is also the majority shareholder in Associated British Foods, the parent company of Primark, one of the UK’s largest fashion retailers. Boots is being acquired from US private equity firm Sycamore Partners and the Pessina family, with Sycamore having held its investment for approximately 18 months. The change in ownership comes at a time when major retailers continue to reassess their physical store portfolios, balancing the growth of digital commerce with investment in modern retail environments, customer experience and the long-term performance of their property assets. For a business with Boots’ extensive national presence, the management and development of its retail estate will remain an important part of its operational strategy. Its network encompasses a broad range of property formats, from smaller town centre pharmacies to larger retail stores incorporating beauty, healthcare, optical and other customer services. The scale of the portfolio also creates opportunities for the wider built environment supply chain, including retail fit-out specialists, building services contractors, facilities management providers, property consultants and refurbishment contractors, should the new owners pursue an expanded programme of investment. Founded in Nottingham in 1849 by John Boot, who opened a herbalist store offering more affordable alternatives to traditional medicines, Boots has developed into one of the most recognisable names in British retail. The company’s latest annual results reported sales of £7.5 billion, representing year-on-year growth of 3.2%, demonstrating the continuing scale of its operations across the UK market. With the takeover expected to complete in early 2027, attention will now turn to the new owners’ long-term strategy and how further capital investment could shape the future of Boots’ retail estate. For Britain’s high streets and shopping centres, the commitment to long-term ownership of such an established retailer offers an encouraging signal for the continued importance of physical stores within the evolving retail landscape. Building, Design & Construction Magazine | The Choice of Industry Professionals
Rare redevelopment opportunity brought to the market in Exeter’s city centre
A substantial vacant office building in a prominent and highly accessible location near Exeter city centre has been brought to the market by Savills. Formerly occupied by BT, Exbridge House represents a rare opportunity to acquire a landmark building with significant redevelopment potential. Occupying a 1.73-acre site, Exbridge House totals approx. 77,000 sq. ft (7,166 sq. m) arranged over four storeys with 77 parking spaces within the landscaped grounds. It is located in a prime position 0.35 miles south of the city centre, close to the historic Quayside, and 1.5 miles from the University of Exeter’s Streatham Campus. The property is being offered for sale as a residential opportunity with a Prior Approval application pending for its conversion into 81 residential apartments. The proposed scheme, which has been submitted under Class MA Permitted Development Rights, encompasses a mix of studio, one and two-bedroom homes, along with 6 parking spaces, four accessible parking bays, four EV charging spaces and cycle storage. Alternatively, Exbridge House may appeal to owner-occupiers, investors or office operators seeking to retain, refurbish or reposition the building for continued office use, capitalising on its prominent city centre location, generous floorplan and extensive on-site parking. Nick Walker, who is marketing Exbridge House on behalf of Savills development team in Exeter, commented: “This is a rare opportunity to acquire a landmark building in a prime location close to the city centre and University of Exeter. Its scale and open space concept offer a range of possibilities for its future redevelopment, and we expect to see interest from a broad range of developers, investors and owner-occupiers.” Sam Rosenkranz from the TT Group said: “It’s exciting to be able to bring such a fantastic development opportunity to market that will receive great interest from a range of buyers. It will be interesting to see what the site becomes in its next chapter within this prime location of thriving Exeter.” For more information, please contact Savills on 01392 455 700 or ndwalker@savills.com. Building, Design & Construction Magazine | The Choice of Industry Professionals
Prologis and Palletways reach major milestone for new UK headquarters at Fradley
After announcing plans to deliver a purpose-built headquarters for Palletways in Fradley last year, Prologis recently reached a significant project milestone, with Lichfield District Council granting planning permission for the new development. The decision marks an important step forward for the project, which will provide Palletways with a bespoke headquarters designed to support the continued growth of the leading express palletised freight network in the region. With planning permission unconditional, the project will move into delivery phase. Announced in 2025, the partnership brings together Palletways’ long-term operational ambitions with Prologis’ expertise in delivering Build-to-Suit logistics facilities for customers. The new headquarters has been designed around Palletways’ operational requirements, creating a modern, efficient environment that supports future growth, enhances colleague wellbeing and incorporates high standards of sustainability. Caroline Musker, Head of Planning at Prologis UK said: “When we announced our partnership with Palletways last year, we shared a vision of creating a headquarters that would support the company’s long-term ambitions while delivering lasting benefits for the local area. Reaching this planning milestone is an important step towards making that vision a reality. “We’re grateful for the constructive engagement of Lichfield District Council throughout the planning process and look forward to progressing the development. Our focus remains on delivering a facility that reflects the quality, innovation and sustainability our customers expect from Prologis.” Rob Gittins, Managing Director of Palletways UK said: “This milestone represents a significant step in our long-term investment in the UK and in particular Lichfield for the last 32 years. Significantly underpinning our commitment to creating a headquarters that supports the future growth of both our people and network. “When we selected Prologis as our development partner, we were looking for a team that understood our business and could deliver a facility to suit our operational needs. We remain excited by the opportunities this development will create for our customers, our colleagues and our wider network, and we look forward to progressing to the next stage of the project.” Construction expected to commence in November 2026. Building, Design & Construction Magazine | The Choice of Industry Professionals
Berkeley and Sheppard Robson secure planning for next phase of Grand Union Masterplan, London
The latest phase of the Grand Union regeneration in Brent will deliver 505 new homes, establishing an active edge to the masterplan’s new central park Berkeley and architects Sheppard Robson have secured planning for the next phase (4C) of Grand Union, a mixed-use development in Brent, northwest London, with Brent Council approving the plans on 26 September. The latest in a series of phases of a masterplan designed by Sheppard Robson, the scheme will deliver 505 private homes across three buildings, completing the north-south green route linking Beresford Avenue to the Linear Park and bringing a new residential edge to life along this central open space. This application follows planning permission being granted earlier this year for 168 Social Rented Homes in phase 4B. This next phase will continue transforming the former Northfields Industrial Estate into a canalside neighbourhood of around 3,350 homes, with commercial, retail, leisure and community spaces woven throughout. Berkeley has been delivering this major placemaking programme since 2019, working in close partnership with Brent Council. Around 1,000 homes completed to date, including 230 social rent and affordable homes, alongside a mix of on-site amenities, including shops, restaurants, a café, nursery, community centre and a network of popular public squares and landscaped spaces. This regeneration project also stands out for its rapid speed of delivery, with Berkeley purchasing the site in 2017, and completing the first homes by December 2021. That four year timeline is half the time it would take today and a reminder to all of what can be achieved by working in partnership with a shared commitment to deliver housing and meaningful community impact. Rooted in the site’s industrial past and its closeness to the Grand Union Canal and River Brent, the masterplan reconnects the local area with the waterways on its doorstep, threading public spaces and green landscape through its heart. This latest phase extends that vision, completing the residential frame of the park and bringing green streets from the park deeper into the neighbourhood. The three buildings – L1, L2 and L3 – form a courtyard arrangement with varied heights and forms, reinforcing the north-south connections established in earlier phases. The massing steps up gradually, from the lower, street-facing character along Beresford Avenue to the taller park-fronting building, creating a considered and gentle transition between the surrounding neighbourhood and the open park beyond. The tallest building rises to 29 storeys, shifting from the warm brick tones of its neighbours to a lighter palette of pale and green precast concrete, with vertical detailing that draws the eye upward. At its crown, a distinctive crescent form gives the tower a landmark presence on the skyline – a gesture echoed at ground level in the curved form of the park-front pavilion, tying the architecture back to the landscape. Green metalwork balconies run consistently across all three buildings, lending a sense of belonging and continuity to the trio, with feature metalwork at each entrance reinforcing their shared character across the site. At park level, a flexible amenity pavilion for residents will be established, opening out onto the landscaped green space and designed to foster a sense of connection between residents and the park right outside their homes. Anna Shapiro, Partner at Sheppard Robson, said: “Grand Union is about creating a sense of living with nature, with a range of settings designed to support people’s everyday connection to the landscape around them. This latest phase completes the residential edge of the Linear Park, framing the neighbourhood’s park as the heart of the masterplan. The three buildings carry forward and evolve the architectural language of the earlier phases, while the crescent crown of the tallest building gives the park frontage a landmark quality that feels right for this moment in the neighbourhood’s story.” Marcus Blake, Managing Director at Berkeley, said: “In partnership with the London Borough of Brent, we have transformed this long derelict industrial estate into a thriving community, with high quality homes, green spaces, amenities, and a reconnected canal for all to enjoy. With close to 1,000 homes completed to date, new businesses open and a fantastic community taking shape, we have built something truly special at Grand Union. The next phase will be a natural continuation of that journey and forms part of the vision that we have worked hard with our partners to achieve from the outset. “Grand Union also stands out for its rapid speed of delivery, with our first home completed just four years after we purchased this complex regeneration site. This fast turnaround stems from our partnership approach with the council, which is determined to solve challenges and get homes built. Grand Union proves that our planning system can move at pace with a truly collaborative and proactive approach.” The landscape strategy at Grand Union embeds green infrastructure throughout, with green and brown roofs, biodiverse planting across the courtyard, roof terraces and public realm, and Sustainable Drainage Systems managing surface water across the site. Phase 4C completes the north-south green route from Beresford Avenue to the Linear Park, extending the accessible landscape network that forms the ecological backbone of the Grand Union masterplan. The masterplan includes improved walking and cycling routes linking to Stonebridge Park tube and rail station. Sheppard Robson is also working with Berkeley to deliver phases 2 and 3 of Grand Union. Building, Design & Construction Magazine | The Choice of Industry Professionals
Search underway to find development partner for major regeneration opportunity in Worcester
The landmark Shrub Hill Regeneration Quarter, centred on the historic former railway lands at the eastern gateway to Worcester city centre, is now seeking a long-term partner to help deliver one of the region’s most significant regeneration opportunities. This latest stage for the approximately 35-acre site follows pre-market engagement earlier this year. The Shrub Hill Regeneration Quarter is a strategic priority of Worcestershire County Council and Worcester City Council and has also already attracted Government support. Worcestershire County Council (“the Council”) and its partners aim to identify an experienced development partner to work closely with to de-risk and deliver development across the regeneration area, linking Shrub Hill Railway Station with Worcester city centre. Savills is advising the Council and its partners. The Council are also in active discussions with the NHS to potentially facilitate the delivery of a new Community Diagnostics Centre (CDC) for Worcestershire within the next three years. Over the next 20 years, the Shrub Hill Regeneration Quarter has the potential to deliver over 500 homes, numerous employment opportunities and two hectares of new public space. Centred around the historic former railway lands and the Worcester & Birmingham Canal corridor, the development would create a new gateway to the city centre from Shrub Hill Railway Station. Sadie Janes, Head of Development at Savills in Birmingham, says: “We are committed to unlocking a residential-led, mixed use development and are confident that the efficient procurement process that has been shaped will identify the right partner to work alongside the Council and maintain the momentum this project has already established. As the historic heart of Worcester’s railway industry, the area has a rich heritage, a distinctive character and a prominent position at one of the city’s main gateways. Alongside its excellent connectivity by rail, road and foot, it has the foundations to become a distinctive mixed-use neighbourhood and deliver a step change in economic activity for Worcester city centre and the wider region.” Councillor Adam Kent, Deputy Leader and Cabinet Member with responsibility for Finance, Corporate Services and Skills at Worcestershire County Council, added: “Shrub Hill is one of the most exciting regeneration opportunities in the region. Combining a rich railway heritage, canal frontage, excellent connectivity and a prime location next to Worcester city centre, it offers a once-in-a-generation chance to transform a key gateway into the city. Our ambition is to create a vibrant new neighbourhood that supports investment, delivers homes and jobs, and strengthens Worcester’s position as a thriving place to live, work and visit. We look forward to working with a development partner who can help turn that vision into reality.” Building, Design & Construction Magazine | The Choice of Industry Professionals
#Wetherby Wall Systems Limited will trade as ROCKWOOL Wall Systems
A new identity that retains Wetherby’s trusted expertise and relationships while reflecting its place within ROCKWOOL Group. Wetherby Wall Systems Limited will trade as ROCKWOOL Wall Systems from 1 October 2026. The business has been part of ROCKWOOL Group for two years. Its new trading name makes that connection clearer and creates a consistent identity for ROCKWOOL Group’s Wall Systems businesses in the UK and Germany. The ROCKWOOL Wall Systems name and visual identity will be introduced across the company’s website, literature, communications and other customer touchpoints. While the way the business looks and presents itself is changing, its people, products and services remain the same. ROCKWOOL Wall Systems will continue to provide complete external and internal wall insulation systems, combining ROCKWOOL stone wool insulation with complementary system components, technical expertise and customer support. “The ROCKWOOL name and logo becoming part of our visual identity is a significant step. Our trading name now reflects more clearly that we are backed by a strong international brand. We are proud of what we have achieved as Wetherby Wall Systems Limited. This change gives us an even stronger platform on which to build for the future while keeping the expertise, relationships and customer focus that have always defined our business.” Simeon Gabriel, Managing Director, ROCKWOOL Wall Systems, UK What this means for customers Customers will continue to work with the same experienced teams and contacts. Products, contracts, ordering processes and delivery arrangements will also remain unchanged. The new identity will make the business easier to recognise as part of ROCKWOOL Group. It brings together Wetherby’s understanding of the UK wall systems market with the reach, knowledge and recognition of an international stone wool manufacturer. For customers and partners, this means the same specialist support and established relationships, under a clearer and stronger identity. Building for the future Trading as ROCKWOOL Wall Systems creates a stronger platform for the next stage of the company’s development, building on its established technical knowledge and understanding of the UK market. The focus remains clear: helping customers deliver high-quality solid wall insulation systems by providing marketing-leading components, practical advice, technical expertise, and reliable support. Building, Design & Construction Magazine | The Choice of Industry Professionals