Frasers Group Builds for the Future as Property and Brand Portfolio Expands
Frasers Group is continuing to evolve beyond its traditional retail roots, combining an expanding portfolio of sports, premium and luxury brands with growing investment in stores, shopping destinations and property across the UK. Led by Chief Executive Michael Murray, the group has set out a strategy centred on building a powerful and increasingly connected brand ecosystem. Its approach brings together retail brands, physical property, digital innovation and investment in customer experience, giving the business a significant presence across the changing UK retail and commercial property landscape. The latest major addition is Harvey Nichols, with Frasers Group acquiring the luxury department store business from administrators in August. The transaction brings the historic retailer into a wider luxury ecosystem in which Frasers has already invested substantially through brands and concepts including FLANNELS. Harvey Nichols brings with it an important physical retail estate, including its landmark Knightsbridge department store alongside UK locations in Edinburgh, Leeds, Manchester, Birmingham and Bristol. Frasers has made clear that significant restructuring will be required to create a stronger and more sustainable business for the long term, with the store portfolio, operating model, organisational structure and cost base expected to come under review. Michael Murray said the acquisition represented an opportunity to provide Harvey Nichols with the infrastructure, expertise and investment required to reposition the business, while acknowledging that creating a sustainable future could result in a smaller operation in the short term. The deal illustrates the increasingly close relationship between Frasers Group’s brand strategy and its approach to physical retail property. Rather than viewing stores simply as places to transact, the group has increasingly focused on larger, higher-quality environments capable of bringing together multiple brands and creating stronger destinations. That strategy can also be seen at Frasers Plus Designer Outlet Leeds, where continued investment in the occupier mix is strengthening the centre’s fashion, sportswear and lifestyle offer. The destination brings together Frasers-owned concepts alongside a broad range of third-party retailers, demonstrating how property can provide a platform for a diverse mix of brands. French Connection is among the latest additions, opening a 2,257 sq ft store featuring its latest retail concept. Its arrival follows other recent openings from Belstaff and White Stuff, providing further evidence of investment in the destination and its evolving tenant mix. For the built environment sector, this combination of ownership, retail operations and brand investment is particularly significant. Frasers can use its understanding of customer behaviour and individual brands to influence how physical destinations are occupied, repositioned and operated. The group’s wider approach has also placed greater emphasis on elevating physical retail. New and refurbished stores, contemporary shop fits and stronger brand presentation form part of a strategy intended to give customers compelling reasons to continue visiting bricks-and-mortar destinations alongside the growth of online retail. Sustainability and the performance of the physical estate are another part of the long-term picture. Frasers Group has identified areas including energy efficiency, waste reduction and transport as important considerations as it looks to reduce the environmental impact associated with its operations. These considerations are becoming increasingly important as retailers and property owners examine the whole-life performance of their buildings. Reusing, refurbishing and repositioning established retail assets can provide opportunities to create more efficient and commercially relevant spaces while reducing reliance on entirely new development. Frasers Group’s growth therefore presents an increasingly significant property story as well as a retail one. Its estate provides the physical platform through which a growing collection of brands can be developed, while investment in shopping destinations creates opportunities to introduce new occupiers, improve customer experiences and strengthen the performance of existing assets. The acquisition of Harvey Nichols adds another dimension. The challenge will be to preserve the character and heritage that make the department store distinctive while creating a commercially sustainable model capable of succeeding within a dramatically changed luxury retail market. Across the wider portfolio, the direction is towards closer integration between brands, property and experience. Frasers Group’s expanding ecosystem now stretches across sports, premium and luxury retail, supported by continued investment in physical stores, digital capabilities and customer experience. As retail property continues to adapt to changing consumer habits, Frasers Group’s ability to combine brand ownership with investment in physical destinations could become an increasingly important part of its growth. From the future of Harvey Nichols to the continued evolution of its shopping destinations and store estate, property is becoming a significant component in how Frasers Group builds the next generation of its retail business. Building, Design & Construction Magazine | The Choice of Industry Professionals
DFI forward funds 200-bed Kingston co-living development in off-market transaction
DFI has established a strong track record of delivering projects in the living sectors across Europe including residential for rent, student accommodation and co-living DFI, an independent pan-European private equity real estate platform, today announces the forward funding of an £80 million gross development value, 200-bed co-living development in Kingston upon Thames, London, through an off-market transaction. London focused developer Viewranks Estates will deliver the project for DFI under a forward funding agreement. The project, which has full planning permission and Gateway 2 approval, is located next to Kingston Train Station, a 30-minute train ride away from Central London. The area is experiencing significant undersupply of housing, with strong rental demand from young professionals and students, particularly recent university leavers just starting out in their careers and working in London. Residential demand is supported by a strong local economy in Kingston, led by consumer, professional services and technology sectors, with Unilever having opened its new HQ campus in Kingston Town Centre earlier this year. Construction of the eight storey co-living building is expected to start imminently. Once complete it will offer 200 en-suite studios at attractive rents that are inclusive of bills and will benefit from generous amenity spaces. Residents will enjoy access to a master-chef style kitchen and ground floor co-working spaces. A state-of-the-art leisure, catering and entertainment offer with a bar and restaurant, a residents’ lounge, cinema, fitness studio, a communal terrace and a games room, is included in the monthly rent. DFI is working to create a bespoke lifestyle brand tailored to the target market and will continue to explore opportunities in this sector, with a focus on key locations within and in close commute to central London. The investment responds to a growing number of young adults and private renters driving demand for affordable, flexible housing in a market where co-living remains undersupplied, with only c.7,000 operational beds across London. DFI was advised by Eversheds, Living for Life, Savills, PwC and Quartz. Francesco Orofino, Investment Director and Head of Hospitality at DFI, commented:“This is a compelling, off-market opportunity to invest in a high-demand, undersupplied sector that is still evolving in London, under a defensive deal structure. We are working with best-in-class architects, designers and sector experts to create a flexible, branded residential experience that appeals to young professionals through ample amenities, living and working spaces, at rents that offer discount to comparable rental housing. With only c. 7,000 co-living beds in the capital, we are bringing forward a high-quality, aspirational asset and one where we see real potential to replicate across the market.” Gavin Neilan, Founding Partner at DFI, added: “This latest investment builds on DFI’s strong track record of creating institutional grade living assets across Europe where we focus on assets supported by demand tailwinds, undersupply and operational expertise. This includes Blaekhus, a student accommodation platform comprising c. 1,200 student units, which DFI sold to PATRIZIA in 2022 for €314 million, as well as Mylo Living, a Danish flex living platform with a 350-unit asset in Copenhagen.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Railpen commences works on South Mimms X industrial development
Railpen, manager of the UK’s around £36bn railways pension scheme, has started construction works at South Mimms X, a 122,820 sq ft exceptionally well-connected logistics and industrial development. With completion targeted for Spring 2027, it will be the latest addition to Railpen’s growing industrial portfolio, which comprises state-of-the-art, prime Grade A industrial and logistics facilities located strategically around the M25. Located at the intersection of the A1(M) and M25, adjacent to South Mimms Services, South Mimms X marks Railpen’s latest milestone in its investment into the logistics and industrial sector, developed in partnership with Wrenbridge. Positioned just 14.5 miles from central London, the 122,820 sq ft scheme will offer a market-leading specification in an unrivalled location, incorporating a 68m secure gated yard. Designed to target a wide range of operators, the facility will also feature 13 dock loading doors, two Euro dock doors, and two level access doors. It will be well-positioned to support the transition to EV fleets, with 18 active EV charging spaces, alongside 98 car parking spaces. Sustainability is embedded throughout the design, which is targeting net-zero carbon, as well as BREEAM Outstanding and EPC A+ ratings. The scheme will also deliver 2.5 acres of landscaped amenity space, achieving a 30% biodiversity net gain through features including on-site wildlife boxes and an urban orchard. Once complete, the scheme will benefit from the adjacent high-quality, people-focused amenities to support occupier wellbeing and productivity. Alastair Dawson, UK Industrial Sector Lead at Railpen, commented: “South Mimms X reflects Railpen’s ongoing commitment to producing best-in-class developments that support local economies and enhance surrounding communities. The site is exceptionally well located on the M25, with access to the entirety of Greater London within 90 minutes. With well-connected, high-quality industrial space in increasingly short supply, this scheme has been designed to stand out. Building on our established track record and Wrenbridge’s extensive expertise, South Mimms X is well placed to set a new benchmark for logistics in the South East.” Will Jarman, Associate Director at Wrenbridge, added: “Railpen’s X portfolio is becoming a clear example in the industrial and logistics sector of how a landlord can demonstrate ongoing commitment to delivering best-in-class facilities, and one that goes above and beyond the wants, needs, and expectations of occupiers and their employees. There is a clear demand for accessible industrial space in this location, and it is great to be partnering with Railpen once again to deliver another high-quality scheme.” South Mimms X is just one of the many assets included in Railpen’s property portfolio, which currently has over 3 million sq ft of space under construction or with planning consent, with a forecast construction cost in excess of £500 million by the end of 2030. The development will join Railpen’s expanding ‘X’ branded portfolio of industrial sites, alongside Dartford X, Waltham X and High Wycombe X. Each development is strategically located and designed to meet occupier demand for best-in-class, highly sustainable industrial space. Building, Design & Construction Magazine | The Choice of Industry Professionals
SevenCapital Takes Control to Restart £500m 100 Kensington Development
Construction is restarting on the £500 million 100 Kensington development in West London after developer SevenCapital stepped in to take direct control of the project following the administration of main contractor Ardmore. SevenCapital has confirmed that Seven Capital (Woodrow) Ltd, an existing group company incorporated in 2016, is now acting as main contractor on the major West Cromwell Road scheme, allowing work to resume following a temporary halt caused by Ardmore’s collapse. The 1.7-hectare mixed-use development will deliver 462 homes across seven buildings, comprising 276 private and 186 affordable properties alongside new leisure, retail, office and community space. A new senior construction management team has been established to oversee delivery under SevenCapital Chief Operating Officer James Moody, working alongside the developer’s construction director and existing site management team. SevenCapital expects activity to ramp up significantly over the coming months, with more than 500 construction workers anticipated to be back on site by the autumn. The developer said it had been aware of financial difficulties facing Ardmore and had developed a contingency strategy to protect the delivery of the scheme in the event of the contractor entering administration. Moody said: “We had previously been aware of some of the financial issues facing Ardmore, which allowed us the time to develop a solid contingency plan to secure the completion of 100 Kensington should the effective administration happen, and at the same time diversify and extend SevenCapital’s capabilities for future schemes.” Existing development finance remains in place through Maslow Capital, which originally provided a £258 million four-year facility for the joint venture between SevenCapital and MARK Capital Management. The project has already passed the 30% completion milestone, with construction progressing across one of the most significant residential developments currently underway in the Royal Borough of Kensington and Chelsea. At the heart of the scheme will be Oria, a 29-storey residential tower containing 129 private apartments and penthouses. SevenCapital is targeting an October topping-out for the tower as the wider construction programme gathers pace once again. The architectural masterplan for 100 Kensington has been produced by John McAslan & Partners, with Corstorphine & Wright responsible for the detailed design. Alongside its residential element, the combination of commercial, leisure and community uses will create a substantial new mixed-use destination on West Cromwell Road, with affordable housing representing a significant part of the overall development. The decision to bring construction delivery under a SevenCapital group company provides the developer with greater direct control over the remaining programme while limiting disruption following Ardmore’s administration. Phased completions are expected to begin during the fourth quarter of 2027, with the entire development currently scheduled for completion towards the end of 2027 or beginning of 2028. With work restarting and the existing funding package remaining in place, the focus will now turn to rebuilding site activity and maintaining momentum towards the October topping-out of Oria and subsequent phased delivery of the wider 100 Kensington development. Building, Design & Construction Magazine | The Choice of Industry Professionals
Landmark moment as Piccadilly Gardens planning application goes in
A full planning application for the scheme to transform Piccadilly Gardens has been submitted. The submission – the latest landmark in delivering the proposals to make Piccadilly Gardens more colourful, more vibrant, safer and more inviting – follows public consultation on the plans earlier this summer. Subject to planning permission being granted this autumn, work to make the plans a reality will begin as soon as possible. Public consultation on the detailed design built on previous extensive consultation about what people wanted from Piccadilly Gardens and included drop-in sessions and an online questionnaire. Hundreds responded and were broadly supportive of the plans, with more than half (58%) believing they will provide a safe and welcoming new space, 67% saying they provided clear walking routes and almost three-quarters (70%) saying they would create a greener and more colourful space. Concerns were raised by some about anti-social behaviour and how the transformed Piccadilly Gardens will be kept inviting. The Council and its partners, including Greater Manchester Police and Transport for Greater Manchester, recognise that creating a better Piccadilly Gardens cannot just be about physical improvements but will also require new ways of managing the space to ensure it is maintained as a safe and inviting space. Work to develop this new way of managing the space is ongoing and improvements are already underway, including a strengthened police presence through GMP’s dedicated neighbourhood policing team. In addition to the main consultation, a series of listening and engagement sessions were also carried out with parents and children around the refreshed children’s play area to ensure it reflects their aspirations. New images of how the children’s play area will look have been released as part of the wider application. Key elements of the application include: The plans will also support a safer space through improved sightlines, better lighting and enhanced CCTV. Interim Council Leader Cllr Garry Bridges said: “The moment has arrived when we’re ready to submit our planning application to transform Piccadilly Gardens. It’s taken a lot of work to get to this significant point. “Residents have told us loud and clear what they want from Piccadilly Gardens. They want the area to look better and feel safer and that’s exactly what we’re going to deliver. “There has already been significant investment in the area – including extra police and council resources – with even more on the way. “This application will see a much-improved space: Putting the Gardens back in Piccadilly Gardens, providing a better children’s play area and supporting a more inviting place all round.” The application reference is PLA-2026-001348 viewable at: https://arcusbe.manchester.gov.uk/pr/s/detail/a1DSl000009RsaD Once the physical works are completed, the Council aims to ensure a regular stream of bespoke family-friendly activity and seasonal events to enjoy. The new scheme will complement other changes taking place in the immediate vicinity of the Gardens, including the major Rylands redevelopment (of the Grade II-listed former Debenhams building) which is creating a new office, retail and leisure destination, and the recently-approved plans to refurbish and improve One Piccadilly Gardens . Further planned improvements to the area around Piccadilly Gardens in the coming years will include a multi-million pound investment by Transport for Greater Manchester to create a new, modern transport interchange. In March this year Galliford Try were appointed as lead contractor, working with landscape architect and lead designer Planit and civil, structural and highways engineers Civic to deliver the Piccadilly Gardens transformation. City of Manchester Chief Inspector Mike Tachauer said: “We welcome the next phase of the planning application for the new-look Piccadilly Gardens. Senior officers have been involved in consultations from the outset to ensure there is a strong policing input into these plans. Piccadilly Gardens is a space that everyone should feel safe and secure when travelling in and around the area. Our officers have ensured that elements pertaining to public safety have been one of the key focuses in the planning process including better lighting and more CCTV. “We have had several experienced police officers who have strong experience around policing Piccadilly Gardens who have given an input to these plans, and there are a number of elements we have learnt from, for example, understanding how planters can be misused by those involved in criminality and how we can deter this from happening. “There is also cross organisational understanding that the safety of the Gardens is a multi-agency partnership that we all need to be involved in to ensure everyone is doing their bit to keep our communities safe.” Vernon Everitt, Transport Commissioner for Greater Manchester, said: “These exciting plans for Piccadilly Gardens will bring vast improvements for everyone who passes through it and for the numerous businesses who operate in the vicinity. The Bee Network is already transforming how people move around Greater Manchester and we are developing plans with the local community for a modern transport interchange linking buses, Metrolink and active travel that will help create a city centre that is greener, better connected and welcoming for everyone.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Pipeline perks up as project starts plateau
Short-term economic easing indicates construction sector recovery still on track for 2027 Today, Glenigan | A Hubexo Product (Glenigan), one of the construction industry’s leading insight and intelligence experts, releases the August 2026 edition of its Construction Review. The August Review focuses on the three months to the end of July 2026, covering all major (>£100m) and underlying (<£100m) projects, with all underlying figures seasonally adjusted. It’s a report providing a detailed and comprehensive analysis of year-on-year construction data, giving built environment professionals a unique insight into sector performance over the past year. Glenigan’s August Construction Review reveals a few rays of sunshine poking through an otherwise overcast industry landscape. It will provide some much-needed optimism to a sector that has been battling an extraordinary set of headwinds since the start of the year. A massive jump in Main Contract Awards, which rose 17% against the preceding three months, and soared a staggering 169% compared to 2025, is perhaps the strongest indicator that market confidence is returning. This can, in part be attributed to an activity spike in major projects, particularly in the healthcare, where various schemes in the New Hospital Programme reached the contract awarded stage. This includes the Leighton Hospital scheme, the Frimley Park Hospital as well as various others. Similarly, if somewhat more modestly, Detailed Planning Approvals picked up by 10% during the Review period and, despite dipping 3% year-on-year, this modest rise compared to the previous month indicates the pipeline is gradually refilling. It certainly offers a tentative sign that recovery, if not immediate, is on the horizon, echoing Glenigan’s own Forecast prediction of an 11% sector-wide performance increase in 2027. The refreshingly positive stats in the August Review can be largely credited to substantial gains in a number of commercial verticals, particularly Hotel & Leisure, as well as an acceleration of activity in both public sector and civils. However, before contractors and subcontractors get dazzled by these strong figures, it appears that intent is yet to properly translate into activity. Project starts are still stubbornly stagnant as the appetite to commit shovel to soil remains subdued, against a backdrop of lukewarm investor confidence and renewed uncertainty around public spending. This resulted in a 7% drop against the previous three months. Yet, whilst activity remains low, there are signals that a long period of decline is starting to bottom out, with levels breaking even (0%) compared to 2025. Looking at the results, Allan Wilen, Glenigan’s Economics Director, says, “There are plenty of reasons for readers to be cheerful when going through the August Review, especially following such a tumultuous and unpredictable six-months. Whilst a degree of uncertainty persists, labour and material costs are stabilising. Industry prospects appear to be turning a corner, but, before we get too excited, these green shoots are fragile and, as we’ve seen before, could wither away on the merest market change.” He continues, “the construction supply chain should stay mindful that the recovery will be shaped by wider economic conditions, investor confidence and public sector spending priorities. Remember, in spite of the excellent Main Contract Awards and Planning Approval figures, conversions into actual starts remains the litmus test of the sector’s performance over the back end of the year.” Taking a closer look at vertical highlights… Residential: Housebuilding slips as social housing steadies the ship Residential had a bruising three months, with project starts sliding 39% year-on-year even as main contract awards jumped 60% and detailed planning approvals eased back 22%. Private Housing bore the brunt, tumbling 52% to £2,434m despite holding a 40% share of the sector, while Private Apartments dipped 23% to £1,630m and Social Sector Housing softened 27% to £821m. The awards uplift hints at work waiting in the wings, though the sharp fall in starts underlines the ongoing pressure on near-term workloads. Regionally, London held top spot with starts worth £1,250m, even after a 16% dip. The North West proved the steadiest performer, barely moving at £962m with just a 1% decline. Elsewhere the picture soured, project starts in the South West, West Midlands and Wales all declined sharply against the previous year. However, Wales offered a rare bright spot, posting strong growth in planning approvals that points to a healthier pipeline further down the line. Private non-residential: Offices and hotels shine while industrial cools Private non-residential was a real mixed bag. Offices held firm, with starts dipping just 3% but approvals climbing 54% on the back of a buoyant mid-market: the £20-50m band rose 18% to £627m and the £50-100m band leapt 80% to £361m. Hotel & Leisure told a similar tale, with main contract awards rocketing 787% and approvals up 56%, even though starts eased at 17%. Industrial had a tougher time, with starts down 43%, though a 147% surge in approvals signals a pipeline gathering pace. Retail stayed muted, with starts off 16% but awards up 72%. Regionally, London ruled office activity, with value soaring 30% to £1,531m. The East of England led Industrial starts, up 218% to £465m, while Yorkshire & the Humber topped Hotel & Leisure at £178m and Scotland jumped 177% to £123m. The North West led Retail, climbing 223% to £50m, with Yorkshire & the Humber and Northern Ireland also enjoying strong runs against the previous year. Public sector: Health leads the charge as schools await their moment The public sector offers plenty of cheer. Health stole the show, with starts up 32%, awards rocketing 634% and approvals climbing 65%, buoyed by the New Hospital Programme and NHS capital commitments. Hospitals made up more than half of starts, rising 75%, while Nursing Homes & Hospices climbed 44%. Community & Amenity also impressed on paper, with awards up 182% and approvals up 95% despite starts falling 34%, led by blue light projects and a 466% surge in military work. Education was the odd one out, with starts down 44%, though a 204% jump in awards and the Schools Rebuilding Programme point to brighter days ahead. Regionally, the South East led Health starts