Albert’s Schloss – Paradise, Birmingham

Victoria Broadhead

Mission Mars, the north west bar and restaurant operator led by Roy Ellis, is set to open a second Albert’s Schloss site, Paradise, Birmingham.

The Bavarian beer hall concept joins the impressive line up of Vinoteca, Dishoom and Rosa’s Thai – which have all committed to opening at the £700m Paradise Birmingham complex.

Albert’s Schloss will open at a 10,000 square foot location on One Chamberlain Square in the autumn. The design will be influenced by travels across Bavaria, Bohemia and Alpine European retreats, so expect roaring fires, raucous musical performances, tankards of Europe’s finest beers and robust Bavarian food.

Paradise Birmingham plans to deliver up to ten new flagship buildings, offering offices, shops, bars, cafes, restaurants and a hotel across 17 acres in the heart of the city, together with a proposed 49-storey Octagon residential building. BGP’s Victoria Broadhead is sole letting agent and responsible for the impressive restaurant line up within the new development. For more information please contact Victoria Broadhead.

Boom: Battle Bar secures site at Ram Quarter Development in Wandsworth

Sophie Moorcroft

Boom: Battle Bar, the adventure bar concept from the team behind adventure park franchise Flip Out, has secured a site at the Ram Quarter development in Wandsworth, south London. The company has agreed a deal with developer Greenland UK to join the scheme, which is seeing the former home of…

Moving beyond court action

Landlords can’t just rely on the courts

Dan Taylor

Recent court decisions that have found in favour of landlords seeking rent arrears should not be seen as the only way forward in terms of repairing retail property revenue flows. It’s certainly too early for landlords to be celebrating unreservedly: in the instance of the most high-profile decision – which…

First operator opens at Postmark

Nick Halley

BGP have acted on behalf of Taylor Wimpey to secure Mousetail Coffee who have taken an internal unit within the residential marketing suite at Postmark. The letting will help to drive footfall into the marketing suite giving prospective buyers a better and more unique experience, whilst also acting as an…

RIXO’s first bridalwear store at 75 Elizabeth Street

Lucy Cope

Super excited to have worked with Henrietta Rix and acted on behalf of my client Grosvenor Group in securing RIXO’s first bridalwear store at 75 Elizabeth Street which opened earlier this week! This will be the only RIXO bridalwear boutique, stocking their limited edition capsule collection of 26 pieces.

The bridal collection is split into two themes, ‘the city bride’ and ‘the classic bride’. The collection caters to brides at both ends of the spectrum from slinky silk dresses, sequin dresses to jumpsuits and mini dresses for those looking for something less formal.

They will also stock a collection of bridesmaid and wedding guest dresses in addition to accessories including blouses, veils and headbands to finish off the look.

With restrictions now starting to lift, and a flurry of weddings on the horizon it is the perfect time for them to open their bricks and mortar store.

They will join existing brands on the street including the likes of Me & Em, Beulah, Pepa & Co, Jo Loves and recently launched Bayley & Sage. Rixo will provide a unique offering on the street further bolstering the independent, community offering in Belgravia and we know they will be a huge success!

Attracting Generation Z

Sophie Moorcroft

Acting on behalf of Hammerson, Bruce Gillingham Pollard have secured three new lettings to Wingstop in Bullring, Birmingham, Cabot Circus, Bristol and Oracle in Reading. Wingstop opened their first London site on Shaftesbury Avenue in the West End in 2018. With 1,500 branches in the US, they are now set to…

The Lever Building, 85 Clerkenwell Road, London EC1

Jack Barratt

Our Central London investment team are pleased to have advised Merseyside Pension Fund on the acquisition of The Lever Building, Clerkenwell for close to the asking price of £38,500,000. The building is a converted Victorian warehouse, let to supermarket giant Tesco’s digital division until 2025. The acquisition reinforces the resilience…

Mentoring Circle – Close the gender gap in property

Tracey Pollard

Bruce Gillingham Pollard have always been at the forefront of nurturing their young team and when MD Tracey Pollard was asked to participate in the Mentoring Circle, she said yes immediately. We talk to founder Vanessa Murray prior to the official launch on International Women’s day, about why she felt that despite an increase in women in all sectors of the property market a mentoring programme was still required.

What made you start up Mentoring Circle?

Over the last few years I have worked with some really brilliant young women who don’t recognise their own strengths and are poor at promoting their own interests. This is a recurring theme that I really wanted to tackle given the lack of women in senior leadership positions in the industry. There are mentoring schemes already in existence but they tend to be for school children or focussed on mid level professionals who already have a network to lean on. I decided to set up my own scheme Mentoring Circle which partners senior female professionals with young women in the industry who have a maximum of 18 months PQE. The scheme is free, cross sector and designed as a career ‘kick start’.

There are a wide range of mentors from different sectors of the property industry, what are you hoping they will be able to offer potential candidates?

It’s really important that we collaborate as an industry particularly considering the similar challenges we are all facing. Young mentees will typically be working in specific areas of property. Exposing them to expertise outside of their direct sphere will broaden and contextualise their understanding of the industry. Most importantly, access to senior level professionals at these key developmental stages has the ability to make a really positive impact to the future careers of our mentees. As women working in an industry where this is still a disparity at top level, there is a great opportunity here to close that gap.

Why should someone apply, what do you think they will get out of mentoring?

It would be easier for me to ask that question in reverse! Who wouldn’t want to be partnered with an inspirational woman for a free quarterly mentoring session over the course of 12 months? Not only do mentees benefit from valuable mentoring with a top level professional, but they benefit from our guest speaking events which tackle broader issues like public speaking, leadership, imposter syndrome and many more. We are also holding networking events over the course of the year which mentees are required to attend to help them build their own professional network.

LinkedIn: Mentoring Circle

Instagram: @mentoringcircle

Rosa’s Thai Cafe to make Midlands debut alongside Vinoteca and Dishoom

Victoria Broadhead

Rosa’s Thai Cafe will open its first Midlands restaurant at Paradise Birmingham later this year. The London-based company will launch its latest venue at Two Chamberlain Square. The 80-seat restaurant will be open for lunch and dinner seven days a week. Rosa’s Thai Cafe chief executive Gavin Adair said: “The…

Honest Burger to open in Christopher Place, St Albans

Victoria Broadhead

Bruce Gillingham Pollard have secured “Great British Burger” restaurant Honest Burger at Christopher Place, St Albans. This is a fantastic addition to St Albans, where we have every confidence in their success. The scheme which already has Wagamamas is putting itself back on the map with the likes of The…

Bruce Gillingham Pollard are delighted to now be working with The Crown Estate on 55 Regent Street

Rupert Bentley-Smith

55 Regent Street is a unique opportunity to occupy up to 17,000 sq ft over ground and first floor within a truly flagship building at the gateway to Regent Street, one of the most iconic lifestyle locations in the world, and in addition fronting Piccadilly Circus, a globally recognised marketing and branding position.

Our focus is to help The Crown Estate continue to work with customers and brands to bring innovative, relevant and pioneering concepts to the Regent Street neighbourhood and further secure it’s position as the world’s leading retail and leisure destination.

55 Regent Street represents an incredible opportunity for retailing, for concept development, for branding, for events and also for food and beverage across ground and first floors within a showpiece building.

Rupert Bentley-Smith, Jamie Orme and Dominic Tixerant are leading this project on behalf of BGP.

Welcoming London florist McQueen’s to North Audley Street

Lucy Cope

It is great to welcome internationally renowned London florist McQueen’s, a global name in luxury floral design to North Audley Street just in time for Christmas. Their flagship store situated in the heart of the West End will be the UK’s largest floral emporium. The 2,500 sq ft store will…

Coqbull opened at Piccadilly Lights

Lucy Cope

Irish chicken and burger restaurant Coqbull, has made a permanent debut in London opening their flagship restaurant on 2nd December just off Piccadilly Circus in the former Jamie’s Italian. This will be the brands flagship restaurant with existing sites in Limerick, Cork and Castletroy. For further information please contact Lucy…

Trends 2021

Tracey Pollard

It was interesting to see Reiss announced they were starting to sell War Paint For Men. The make-up brand which challenges masculine stereotypes will offer its tinted moisturiser, primer, bronzer, concealer and beard and brow gel online and will have in store presence in 15 of Reiss’s UK stores and 3 in New York.

Each year BGP predicate retail and property trends for the following year and back in 2019 we discussed male grooming and the increasing rise of male beauty products and how this might impact retail stores, much to the scepticism of some of our team and clients!

Whilst we don’t always get it spot on, we have always believed in the importance of understanding trends which are shaping society’s future and how they impact the property market.

It’s fair to say with this year’s massive shifts and the accelerations in trends this has never been more important. The team are busy working on our predications for 2021 and if you would like us to present in January  either on line or in person, please contact Layla O’Driscoll.

BGP secures artisan bakery Gails for debut in Guildford at The Tunsgate Quarter

Victoria Broadhead

Head of our national team, Victoria Broadhead is delighted to announce that popular artisan bakery chain, GAIL’s, opened in Tunsgate Quarter, Guildford on October 29th 2020. Set up in 2005 by Tom Molnar and Ran Avidan, GAIL’s opened its first bakery in Hampstead with the aim of making world class…

The Permanent Benefits of Pop-Ups

Tracey Pollard

There is a great deal of  talk in our industry about pop-ups as it’s essential at this time of disruption to help landlords activate voids through securing short-term occupiers. We believe the secret to the success of a pop-up is targeting brands which fit within an existing mix and complement…

Change is afresh at St Christopher’s Place

Tracey Pollard

We are delighted that Flat Iron join the exciting restaurant line-up on James Street with their opening in November. Alongside their signature ‘Flat Iron’ steaks, which are known for their exceptional flavour and tenderness, they’ll be serving up two new specials. Plus, keep an eye out for their mini cleavers…

Welcoming Rixo to St John’s Wood High Street

Lucy Cope

It is great to welcome London based fashion label RIXO to St John’s Wood High Street this week who have opened a pop-up boutique for 12 months. The 500 sq ft unit will feature their first ever RIXO hand painted collection that was launched in 2015 to celebrate their 5th year anniversary. ‘Joni’ their vintage RIXO bus has been making its way around London today, visiting 5 iconic locations and ending in St John’s Wood to mark the occasion.

RIXO joins The Supermarket of Dreams (Notting Hill Fish Shop) who opened last week alongside existing tenants such as Laurent’s Deli, Me & Em, The Good Life Eatery, Soutine, Facegym & Core Collective to name a few.

The pandemic has reinforced the desire for people to shop, eat and socialise closer to home and the bustling high street in St John’s Wood further clarifies the shift in consumer behaviour and shopping patterns.

New Store Openings at Canary Wharf

Rupert Bentley-Smith

Samsung store, NipNip bike repairs and Bar Bolivar by MJMK, all opening at Canary Wharf. Tech, cycling and drinking, all things we improved at during lockdown.

Harry Cody-Owen joins BGP as Associate Director in the National Team

By Victoria Broadhead

Bruce Gillingham Pollard are pleased to announce the appointment of Harry Cody-Owen as Associate Director. Harry has specialised in F&B and Leisure for 6 years and joins from Lunson Mitchenall where he predominantly acted on behalf of Institutional Landlords. Having advised on Lakeside, Festival Place Basingstoke, Chapelfield Norwich, Eldon Square…

Breakthrough Brands – How to find the next big retailer!

By Evie North

Now the UK starts to transition out of lockdown, the retail, leisure and restaurant market is inevitably in a very different place as operators look at ways in which they can adapt to the ‘new normal’.  Some operators are geared up to implement change and modify their businesses to work…

Stockton Shopping Park – sold for £9.5million reflecting 9.4%

By Andrew McGregor

Invest in Out of Town

Does the sale of Stockton Shopping Park mark a watershed for the Out of Town investment market? Sold this month for £9.5 million reflecting a net initial yield of 9.4%. This scheme has a WAULT of 6.5 years and an average rent of £7.56 psf. More importantly, it is let to some of the “darlings” of the OOT retail sector, namely B&M, The Range and the Food Warehouse.

It is quite possible that we are now entering a unique period of opportunity in the out of town retail market. A time when the buyer’s pricing aspiration, the valuer’s pragmatism and the vendor’s need to reduce retail exposure are perfectly aligned. In a post COVID world where retail is often a dirty word, many OOT retailers have not only proved themselves to be robust but have outperformed.

We have known that the fundamentals of OOT retail should have longevity, both in terms of customer demands, but also investment performance, namely:

  • They sit on large sites with ample car parking;
  • Larger, relatively open plan stores allow for greater social distancing, whist allowing customers to browse;
  • Deliveries can be controlled on a unit by unit basis, generally direct into the back of each store;
  • Occupiers, in conjunction with landlords, can set up external click and collect posts;
  • In the longer term, we are already seeing occupiers adapting their space or their method of retailing, to take advantage of the OOT store to complete the retail fulfilment model, e.g:

Next have set up a dedicated C&C area in their Lombardy Hayes store of c4,000 sq ft. Here, customers can enjoy a cup of coffee, in a pleasant environment, with the odd homeware item around them for impulsive purchases. We understand they may be handling some 1,000 parcels per day from this facility, pulling from an extensive catchment.

Tesco, with a view to doubling the size of their online capacity, have announced the opening of three urban fulfilment centres by the end of summer 2020 – the first in West Bromwich. Online retail penetration is now over 30% of the total retail cake, and the size of online grocery sales has risen from 7% this time last year, to over 13% by June 2020. The genie is out of the bottle. One would expect all of the big 4 supermarket operators to consider the most efficient use of their larger stores, not just for the short-term gain, but as a permanent fixture.

  • OOT stores are generally simple buildings, which can be easily adapted. In many cases, they are double height stores, where mezzanines have not been utilised, either because the tenant doesn’t need/want them, or perhaps the planning regime has prevented it. Expect a more intensification of space where possible.
  • For the tenant, occupational costs tend to be significantly lower than their shopping centre equivalent – lower rent, rates and especially service charge.
  • For the landlord, it is still beholden upon them to create an interesting retailing environment, so expect to see more food and beverage (café pods, drive thru etc) and perhaps services associated with shopping centres and high streets e.g bookmakers, hairdressers etc.
  • For the investor, stock picking will be key. The simple mantra should be:
    1.  Good credit from a smaller number of tenants, say 5 maximum;
    2. Invest in the “staples” of OOT retailing – Dunelm (market cap £2.76bn; B&M market cap £4.7bn and Pets at Home market cap £1.55bn). B&M revenue up 17% March 19 to March 20 and Pets revenue up 12% through lockdown;
    3. Even better, secure a food anchor, say M&S Simply Food, or better still, Lidl/Aldi;
    4. Lot size sub £20 million;
    5. “Affordable” /re-based rents, which probably means sub £20 psf in most locations;
    6. Accept shorter leases, say 5 years max;
    7. Less, or even no exposure to fashion retail;
  • By the time September Quarter comes around, there will have been 6/12 months+ of value erosion on this product, perhaps not as drastic as the shopping centre equivalent, but nonetheless, rents and cap rates which better reflect market value. The sector is still dominated by UK Fund ownership, which will have written down their portfolio significantly in the past 6 months. They will still need to reduce their retail weighting, and OOT retail may be the most liquid of their retail assets.

Kate Spade Launches at Canary Wharf

Tracey Pollard

Following the gradual re-opening of non essential retailers it was great to see the likes of Kiel’s, Sandro, Bimba & Lola and Maje open in Jubilee Place, Canary Wharf. They have now been joined by Kate Spade, who launched their new store this week with a fantastic collection of bags,…

The Rise of Community Spirit and how Independent Retailers have reacted…

Lucy Cope

“A renewed sense of community is welcomed news for independent businesses, with a growing desire to support local stores in life after lockdown.” (Source: Food Manufacture Online) The world as we know it has come to a halt and each and every one of us has been forced to adapt…

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