23
RD
AUGUST 2013
WEEKLY RETAIL NEWS HIGHLIGHTS FROM AROUND THE MARKET
KNIGHT FRANK RETAIL NEWS
General Retail News
Pandora the jewellery group, has agreed to
take a new shop at Park House on Oxford
Street, W1. The retailer plans to take 2,400 sq
ft across two floors at Barwa Real Estate's
development. Pandora is thought to be paying
more than £650 per sq ft Zone A.
Hanro the Swiss lingerie brand, have agreed a
10 year lease for 928 sq ft at 6 South Molton
Street, W1. This will be their first UK store.
Primark the discount fashion retailer, has
confirmed they are moving into the BHS unit at
38-39 Stall Street, Bath from January 2014.
Burger & Lobster the casual dining concept,
has confirmed it is opening on the fifth floor of
the Harvey Nichols department store in
autumn. This will be its fifth store in London.
Koya the Japanese restaurant, is preparing to
open a second restaurant next door on Frith
Street, Soho, London.
SuperGroup the fashion group, has signed a
five year franchise agreement with Demsa
Group. They look to open eight Superdry
concept stores across Turkey.
Kent & Curwen the British heritage brand, is
launching in the US after agreeing a licencing
deal with supplier and distributor Li & Fung.
Smiths of Smithfield the restaurant group, is
to launch an all-day dining concept called
SMITHS to replace The Luxe in Spitafield’s
Market, London in September.
Subway the fast food sandwich chain, has
planned to increase the rate of openings in
Europe by adding as many as 1,000 new
locations in 2014 with the UK top of the list of
growth countries.
Goodman Restaurants the restaurant group
who operate Burger & Lobster, are launching a
Steak and Crab offering from a 4,742 sq ft unit
at One Chapel Place, W1.
Jimmy’s World Grill & Bar Chain the
international buffet restaurant owned by East
and West Restaurants, is looking at options to
fund expansion. It wants to double in size to 18
branches over the next three years.
Go Outdoors the activity and camping retailer,
has announced positive growth and is back in
profit.
Massimo Dutti a fashion brand owned by
Standard International in addition to Zara and
others, is proposing to expand into India.
JD Pro the performance sports fascia of JD
Sports, has announced an expansion
programme that focuses on larger store
formats than traditional JD Sports across the
UK.
Cineworld the cinema chain, has provisionally
been ordered by the Competition Commission
to sell three of the Picturehouse art-house
cinemas it acquired in Aberdeen, Cambridge
and Bury St Edmunds. A firm decision will not
be made until the competition body’s final
report in October.
160-166 Kensington High Street
Knight Frank West End Investment team
have recently completed on the disposal
of 160-166 Kensington High Street on
behalf of F&C REIT. The sale of the
freehold interest completed in August
2013. Located in a prominent position on
Kensington High Street, the asset
comprises 21,524 sq ft of office and retail
accommodation let to Argos, Metro Bank
and office occupier Mind Gym.
Tweet of the Week
23rd Aug
Watch this space for new retail
properties KF are instructed to
dispose of in Central London
#comingsoon
RETAIL IN DETAIL
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23
RD
AUGUST 2013
Retailer Optimism
Hennes & Maurtiz
The Swedish fashion group H&M has
reported a rise in full year pre-tax profit for
its UK stores. The news comes after a year
where further stores were opened across all
of its fascias.
RETAIL OUTLOOK FOR
THIS WEEK:
TK Maxx
Sales at TJX Europe, the business that
includes TK Maxx, increased 6% in the 13
weeks to 3 August 2013, with profits rising
more than 60%
Jubilee Place, Canary Wharf
WH Smith
Are on course to meet full-year forecasts
ahead of an announcement on 31 August.
The company said its travel division, with
outlets at airports, railways stations and
motorway service stations, was winning
new business, and its high street stores
were delivering a strong performance.
Six retailers including Michael Kors,
Schuh and Asics have signed up to open
stores at the extended Jubilee Place
shopping centre in Canary Wharf.
Did You Know?
Apple's largest retail store is Regent Street
in London, which is 25,000 square feet.
Market Sentiment
Hot on the heals of the Government initiative
to relax planning regulation on changes of use
from offices to residential dwellings, comes the
less publicised move to allow retail property to
also be converted to residential after a
reduction in prohibitive red tape.
There are two schools of thought on how this
could affect the market:
Firstly that this change could focus flagging
commercial centres by allowing the fringe units
to be converted to much needed residential
space. The new residents would also bolster
the immediate economy and result in new
businesses opening to meet renewed demand.
Secondly that by converting shops into homes
without planning permission, struggling retail
centres could be placed under even more
pressure as the complementary offer
diminishes. This argument focuses on
how reducing retailers could have a
negative effect on the town centre, by
reducing the retail on offer and therefore
the attraction of the High Street to
consumers and retailers.
According to the British Retail
Consortium figures released this week,
one in eight shops across the UK is empty.
CONTACT US
AGENCY
Richard Griston, Associate Partner
+44 (0)20 7861 1188
richard.griston@knightfrank.com
DEVELOPMENT CONSULTANCY
Ian Barbour, Partner
+44 (0)20 7861 1223
ian.barbour@knightfrank.com
LEASE ADVISORY
Jeremy Elphick, Partner
+44 (0)20 7861 1590
jeremy.elphick@knightfrank.com
The above information is sourced from Property Week, Estates Gazette, Retail Week, Drapers, The Times and the BBC and does not necessarily
represent the view of Knight Frank LLP in relation to particular properties or projects and must not be relied on in any way. No legal responsibility
can be accepted by Knight Frank LLP for any loss or damage resultant from the contents of this document.