Ellandi’s Post

3 years on... only a third of former Debenhams stores are occupied, if you factor in stores under offer or in the process of being repurposed that still leaves HALF of all stores vacant. When you include closures by House of Fraser, Wilko and Marks and Spencers that's an awful lot of space 🧑🚀! Large format stores in high footfall locations are likely to relet with some repurposing, Bullring is a good example, with larger retail and experiential occupiers picking up the slack. But what do you do in the market towns where these empty stores are a blight on the high street? Landlords and asset managers should embrace the opportunity to reinvigorate a town centre and think outside of the traditional hospitality/leisure route. Now not everywhere can be a lab, but vibrant communities need a mix of retail, office and residential space so making use of permitted development rights to secure change of use and then further permissions to improve exterior facades could be a good route. Co-living and later living are also attractive options bringing new demographics in to town centres (does anyone know why so many later living developments are situated miles away from anywhere?). Retail insolvencies are inevitable but the options that space presents are endless. What's the best repurposing story you've seen? 👇 #landlordandtenant #retail #assetmanagement #commercialproperty #realestate

Take-up surges as occupiers fill empty Debenhams stores Moves to fill large stores vacated by Debenhams have boosted leasing levels by more than 50% year-on-year in the first quarter, according to new data from EG Radius. https://lnkd.in/dpAhj3mA

Marks and Spencer to open flagship stores in Bristol and Bath 🛍️🏬 M&S is set to return to Bristol city centre with a new 80,000 sq ft flagship full-line store in Cabot Circus. The retailer says the store will be backed by £21 million of investment and should create up to 150 jobs. But that wasn't the only good news for the South West. M&S has also revealed that it is relocating its Bath store from Stall Street to an 83,000 sq ft store in SouthGate Shopping Centre. The new Bath store represents a £17 million investment in the city. The Bath move is part of the retailer’s store rotation strategy to make sure it has the right stores in the right place. At its recent full-year results, the retailer announced plans to open up to four new full-line stores and nine new foodhalls across the UK in the current financial year. M&S will work with Bath & North East Somerset Council on the future use of the current M&S in Bath. Darren Richards, Head of Real Estate at British Land, which owns the SouthGate shopping centre, said... Continue reading... https://lnkd.in/esRTZ5Q2 Hammerson #retail #property #commercialproperty #shopping #businessnews #businessintelligence

Even for a seasoned retailer, Canada’s busiest mall can be a bit overwhelming. Navigating a high-traffic corridor at CF Toronto Eaton Centre often feels like a plunge “in the middle of a salmon river,” La Maison Simons chief executive officer Bernard Leblanc said, reported The Globe and Mail. "Mr. Leblanc is happy to swim against the current, opening new large-format stores at a time when other retailers are scaling back their footprint in Canada, or failing to make it work altogether. The Quebec City-based chain announced on Thursday that it is spending $75-million to open new stores in two of Canada’s highest-profile malls." "The two new stores will fill part of the space formerly occupied by U.S. department store chain Nordstrom Inc. – which exited the Canadian market last year – in Toronto’s Yorkdale Shopping Centre and Eaton Centre. The locations, scheduled to open in the fall or winter of 2025 will significantly expand the 184-year-old retailer’s presence in the Greater Toronto Area, and represent a significant bet on brick-and-mortar retail." https://lnkd.in/gDKtvKvz #canada #retail #departmentstores

"The return of physical store commitments” Luxury retailers continue to invest in bricks-and-mortar retail as they look to "cement their physical position" recognising the value of the offline store. Those doing it best appreciate the need for an elevated in store experience with a personalised, omnichannel offering at the heart of what they do. 🛍️ #clienteling #omnichannel #retailtechnology #redant #customerexperience

Beaufort & Blake opens first store in London with more to follow "British e-commerce brand Beaufort & Blake has opened its first-ever store at 521 Old York Road in Wandsworth, London, a stone’s throw from its head office. Following Beaufort & Blake’s growth in recent years, the new store creates an experience that "brings the Beaufort & Blake’s brand world to life". The new flagship store also intends to set the aesthetic and experience for future Beaufort & Blake stores, with the aim to be located in affluent London boroughs where the brand has a strong customer base." by Tom Bottomley at TheIndustry.fashion & TheIndustry.beauty Beaufort & Blake Edward Bonnar #retailnews #beaufortandblake #newstore https://lnkd.in/eN9f5T_z

Strip retail centre sold to interstate investor for $4.5M by Ray White Commercial A strip retail centre in Brisbane’s inner-south at 212 Cracknell Road, Tarragindi sold for $4.5 million, by RWC Retail’s Lachlan O'Keeffe and Michael Feltoe. Initially taken to market in August 2023 - generating 230 enquiries - the multi-tenanted centre passed in at auction. The property was then under contract for $4.2 million, before subsequently selling to a NSW-based investor this year, which Lachlan O'Keeffe said was reflective of the renewed confidence in the retail market. “We believe this is the second best result in 2024 on a building sale rate basis amongst multi-tenanted retail centres in Brisbane. Together with our sales in Coopers Plains and Ashgrove - which complete the top three - we are continuing to see demand for these centres at record highs." Michael Feltoe added. Read more on COMMO - https://lnkd.in/g6UBd5h9 Shannon Cook Lachlan O'Keeffe Michael Feltoe Regan Killian Pablo Routledge Cassandra Glover James Linacre Nina Clarke #rwc #retail #commercial #brisbanemarket #brisbanerealestate #brisre #realestate #queenslandmarket #commercialinvestment #retailinvestment #commercialmaket

🛍️ MANGO TO OPEN DOORS TO SECOND OXFORD STREET FLAGSHIP STORE!   MANGO have signed a new UK flagship store at 415-419 Oxford Street, London which marks the second Oxford Street store for the Spanish fashion retailer as it accelerates its expansion plans. The double-height, prime island site, in the western section of the street, spans circa 17,000 sq. ft. over ground, basement and first floors. Neighbours include adidas, Selfridges, Zara, and HUGO BOSS. Last year, Mango announced more than 20 store openings for 2024, including four stores in London and also their brand new flagship in Hong Kong which our colleague Thomas Waterhouse was delighted to have secured on Queens Road Central. This is in line with the brand’s 2024-2026 strategic plan, called the 4E Plan, with the aim of exceeding £3.41 billion in 2026. Its global expansion plans also include more than twenty stores in the U.S for 2025 🌎 Sam Foyle, Co-head of Global Retail at Savills, comments: “Mango committing to a second site on one of the world’s most iconic high streets, and breathing life back into this unit, highlights the confidence that retailers have in London. Today’s deal is yet another example of the levels of demand for space on this renowned shopping destination, with our most recent research showing vacancy rates on Oxford Street at just 2.7% – the lowest level since Q2 2019.” For further information and to find out more on Oxford Street please contact either Sam Foyle or Callum White. #OxfordStreet #CentralLondonRetail #Mango

JLL has exclusively transacted 170 Queen Street in an off-market deal reaffirming investors’ interest in trophy flagship retail holdings. This prime section of the Queen Street Mall is one of the tightest-held retail locations in Australia and is quickly evolving into a luxury precinct, exemplified by the recent opening of the adjoining Louis Vuitton flagship store. CBD retail transaction volumes are subdued across all major global markets CBD markets, in Australia volumes are down 78% in 2023 compared to the 10-year average. However, this transaction along with a number of others in the pipeline demonstrates the re-emergence of capital demand for CBD assets as these cities re-awaken post the pandemic lock-down. Congratulations to all parties involved in the transaction. #AustralianRetailProperty #CommercialRealEstate #CRE #RetailInvestment #CapitalMarkets #ShoppingCentre #ShoppingCentreInvestment #PropertyInvestment #InvestmentProperty #RetailAssets #CommercialProperty #AustralianCRE #RealEstateFinance #RetailPortfolio #PropertyDevelopment #InvestmentOpportunity #RetailStrategy #AssetManagement #PropertyMarket #RealEstateInvestor #RetailTrends #AustralianEconomy #MarketAnalysis

"Several new businesses are slated to open at Mayfaire's shopping centers this year, including Dave & Buster's, a new hotel and a range of other retailers. National clothing brand Aerie is expected to open in Mayfaire Town Center this winter, while clothing retailer J.Crew Factory and jewelry brand Kendra Scott are set to open stores this spring, according to Paige Coniglio, local leasing manager and marketing director with Mayfaire owner CBL Properties." https://lnkd.in/eGgzwCsF