New starters

This month we welcome two new members to the team, Alex Todd & Euan Anderson. Both join as graduate surveyors following completion of their property degrees and will then go on to sit their professional assessment to become Chartered surveyors.

Our MD, Tracey Pollard commented “As we celebrate our 10th year, it’s great to welcome two more additions to our ever growing business. The events of the last 18 months means we are working closer than ever with our clients to maximise their values, reposition buildings and future proof their assets. Alex and Euan’s energy & enthusiasm for retail will help bring a different perspective to the business and our clients and we are delighted to welcome them into the BGP team”.

Who wants to be transported to Cuba?!

Thea Rowe

La Rampa is the newest addition to GPE’s Market Place, W1 curtesy of the fantastic MJMK. Bar La Rampa recreates the atmosphere of 1950s Havana with the fabulous cocktail menu developed by @mr_marcis and the food menu by @tata_eatery; a combination that doesn’t disappoint! It’s been great to see how…

Berber and Q to launch Carmel on Lonsdale Road, Queen’s Park

Thea Rowe

(Photo credit Carmel) Josh Katz and Berber and Q are coming to Queen’s Park with Carmel where they will offer an all day menu inspired by North Africa and the Eastern Mediterranean. Lonsdale Road comprises a mix of independent offices workshops and restaurants including Milk Beach who recently expanded. Securing…

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…

With a number of the BGP team having been loyal Daniella Draper customer’s since the beginning of their journey, we are super excited to be retained by them to secure their first permanent store in London

Lucy Cope

Daniella Draper is a British, multi award winning jewellery brand who recently celebrated their 10 year anniversary. Daniella graduated with a degree in jewellery design from central St Martin’s in 2009 and returned to her home roots of Lincolnshire to start her business. Daniella, Della & Holly are a tight knit family working together to build the brand while maintaining its values and handcrafted charm.

It is great to work with an independent and family run business and we are extremely excited to work with them to secure their first store.

For further information please contact Lucy Cope

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,…

10th birthday

Tracey Pollard

As part of our 10th birthday celebrations we asked some of our team what Bruce Gillingham Pollard meant to them, these are some words used to express our business.

Some liked the energy, ambition, passion and drive to collaborate and innovate.

Others mentioned the incredible talent found within the business, and welcomed the ability to be part of a team who were changing places and enhancing retail environments.

Our long standing trusted relationships were valued by many, both within our team and beyond, mentioning partnerships with clients, retailers and restaurateurs.

New graduates valued our blind faith and trust in them to get on with the job and highlighted the world class projects they were working on, despite their young age.

Many mentioned the feeling of family and the joy of sharing in major life celebrations and the strength of the team when things were tough.

All these things make up our business, we are passionate about what we do and throw 100% energy into every project, with impressive results. It’s what we do.

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…

Can cinemas breathe life into the leisure investment market?

Andrew McGregor

Don’t just listen to me, but it seems the streaming vs movie “battle” has found its equilibrium. Paramount Pictures CEO Jim Gianopulos and Disney CEO Bob Chapek have both recently stated that you can’t have one without the other. Big screen drives big franchises, which in turn drives streaming features and spinoff series. We can live in hope therefore, that come 17th May (when hopefully UK cinemas can once again draw back the curtain), that we will once again have a thriving movie industry.

Our own COVID experience at BGP, is that most cinema operators have taken the opportunity to agree rent reductions, rent free periods and/or rent deferment with their landlords, who in turn have been rewarded with longer leases. We have been indirectly involved with at least 7 such re-gears, which have resulted in an average lease extension of 5 years with a resultant cap rate (valuation) improvement of c25 bps. We also anticipate that the cinemas of tomorrow may need to offer a greater customer experience, and perhaps work in harmony with the more flexible working habits, such as co-working space and event-hosting.

Now is probably not the time to be selling cinema-anchored, multi-let leisure schemes, but you can certainly be doing the prep. Any buyer will want to understand the payment history, the plan for recovery and the joint investment these schemes will need to ensure that the customer feels super safe to return. My colleagues are still up to their eyes in new lettings, especially from “competitive socialising” and leisure brands who see this as a golden opportunity to acquire space they might not have dreamt of – who would have thought an 80,000 sq ft department store in south west London would be a “family entertainment centre”. I’m sure Gravity have learned from the previous incarnations, such as Dave n Busters, but they never had the chance to trade out of Wandsworth!

If the great British public still have the appetite to be entertained once all this is over, the leisure scheme/park of tomorrow may actually be an improvement on pre-COVID. Less “average” operators, peddling a poor quality offer to an ever discerning customer – several well-known restaurant brands spring to mind. From an investment point of view, in theory, only the best operators will have survived, probably on re-based/affordable rents, with even longer lease terms if the landlord and tenant have got their heads together.

Fingers crossed for a bumper H2 2021…..

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…

Diversity of Instructions

Emily Dumbell

One of the key strengths of Bruce Gillingham Pollard, is our range of clients and the diversity of the projects we work on. These instructions stretch from standalone shops and restaurant units, to large development projects nationwide. We work on established shopping centres, as well as successful Estates and our portfolio of projects stretch right the way from Zone 1 prime luxury districts, to market towns and key national cities such as Edinburgh and Cardiff.

This strength has become even more pronounced and relevant during the last 12 months, as many City Centres have seen the impact of office workers remaining at home and a lack of international tourists. In the meantime we have seen neighbourhood villages, market towns and out of town parks often thrive, as people are keen to eat and shop local. As a direct result of our range of instructions, we have been able to continue engagement access to the narrow band of tenants who remain active in the market and ensure there is cross fertilisation of ideas and relationships throughout our team which has benefited all of our instructions.

As we start the beginning of a New Year, we continue to see strong interest from tenants, looking to capitalise on the changes in consumer behaviour, with strong interest from food stores, fitness and wellness concepts and restaurants seeking to open in neighbourhood locations such as St Johns Wood, Dulwich Village, Queens Park, Ealing, Notting Hill and Brixton. One trend which has been interesting to observe, is the shift in locations being sought be restaurant operators. Many pre Covid wanted central West End locations, but have now reassessed their priorities and appreciate the relevance of residential deliveries and a local neighbourhood customer.

Our ability to reach potential tenants and share contacts and ideas across our team, is an important element of the success of our business and allows us to provide sound and relevant advice to both our leasing clients and our investment colleagues, allowing them to target locations which are vibrant and sustainable for the long term on behalf of  their investment clients.

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…

Bruce Gillingham Pollard are delighted to have advised an overseas client on the recent acquisition of HSBC in Lincoln

Jack Barratt

Bruce Gillingham Pollard are delighted to have advised an overseas client on the recent acquisition of HSBC in Lincoln.

It completes the acquisition of three HSBC banks from Aviva, alongside Kingston Upon Thames & Brighton, acquired separately over the past two years for overseas clients.

The property is let to HSBC Bank Plc for a further seven years with annual RPI reviews.

Great to work with Lottie Hayward & Andy Pointon once again at Allsop LLP who acted for the vendors.

Please contact Jack Barratt in our Investment Team for details on our overseas requirements.

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…

Bruce Gillingham Pollard announces its latest initiative – The launch of a bespoke Pop-Up team

Tracey Pollard

Lucy McGowan-Scanlon join’s Bruce Gillingham Pollard as Head of Pop-Ups after 2 years at Debenhams. Lucy worked on both long term leases and lead on all of their pop-up activity across 40 stores.  Projects included supporting on the introduction of Café de Pierre (Caffe Concerto) and working with Sweet Potato Spirit Company as they expanded from 5 to 25 pop-ups.

Lucy says “Pop-ups have never had more relevance on the high street than in the current climate as a means to drum up consumer interest, drive footfall and increase dwell time. It is an opportunity for up and coming brands to showcase themselves and given the rent terms, trial different markets and for Landlords to activate their spaces in a way that could rejuvenate the surrounding area. Consumers are now overly familiar with carbon copy high streets and this is the perfect way to create a feeling of change and newness. I am really excited to support our Landlords in a change of approach and look forward to working with the tenants to help bring awareness to and grow their brands”.

Lucy will work across our portfolio of estates and instructions, focusing primarily in London and the Home Counties, with a remit to expand nationally in 2021.

Managing Director Tracey Pollard says,

“Lucy’s retail background brings another dynamic to our business and her insight will be vital to the future success of this initiative. We have long been advocates of pop-ups, as they allow a landlord to test a sector or a potential brand, without full scale commitment from either party. This can create a point of difference and a renewed energy to a shopping destination.

In the current trading environment, pop-ups have never been so important to our clients but the economics of delivering pop up operators which also fit within a tenant mix strategy can be a challenge for agents. Therefore, we firmly believe a dedicated resource, sourcing targeted tenants for pop-up opportunities will prove a vital resource for our clients to navigate the new era of retail.“

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.…

1 2 3 4