MARK appoints Bruce Gillingham Pollard on Borough Yards project

Tracey Pollard

European private equity real estate investment manager, MARK, has appointed Bruce Gillingham Pollard to advise on retail leasing alongside CBRE at the Borough Yards development in London SE1.

The 140,000 sq.ft mixed use scheme, adjacent to the historic Borough Market, is south London’s newest food, retail, leisure and office landmark. Everyman Cinema, Barrafina, Brother Marcus, and The Office Group, which has taken 51,000 sq.ft of space, are among the key tenants.

The site was originally a mixture of derelict land and Victorian railway arches, which have since been restored and repurposed as part of its redevelopment. Designed by award-winning SPARCC, Borough Yards features five mixed-use buildings and public realm.

Borough Yards opened its doors in early 2022, with Paul Smith, Parillan, Bar Daskal, Burger & Beyond, Butchies and Vinoteca other high-profile tenants capitalising upon the area’s high footfall rates.

The scheme connects Borough Market with the River Thames’ South Bank, while London Bridge Station is less than two minutes’ walk away. London’s financial district, Shakespeare’s Globe and Tate Modern are in the immediate area.

Lily Lin, Managing Director at MARK commented: “Borough Yards represents a new chapter for the area and joins a growing list of successful urban redevelopment projects undertaken by MARK. The creation or redevelopment of city-defining landmarks will remain a key focus of ours and work alongside our specialist platform strategy.

“Attracting established and globally appealing occupiers is an integral part of that and the quality of tenants at Borough Yards illustrates our ability to execute this well. We’re looking forward to working with Bruce Gillingham Pollard on strengthening and diversifying the brands which complement our exciting line-up of food & drink concepts.”

Bruce Gillingham Pollard Managing Director, Tracey Pollard, commented: “Borough Yards is rapidly evolving into one of London’s most exciting and multi-faceted retail and hospitality environments”.

“It’s housed in a sensitive and ingenious development which meshes superbly with the surrounding historic building landscape and benefits from the millions of visitors who make their way to this historic and vibrant parts of London.”

2022 Graduate Recruitment

Emily Dumbell

We are looking for ambition, drive and enthusiasm. From day one, you will have exposure to some of the UK’s most influential landlords, property companies and retailers. We are looking for a talented person who can be part of our energetic team and help shape our business over the long…

BGP Connects EP 6

Lucy Cope

“In learning you will teach, and in teaching you will learn” Phil Collins On our next instalment of #BGPconnects Lucy Cope speaks to Vanessa Murray of Mentoring Circle. Now just a week on from the first anniversary of the scheme, and the launch of the second year of mentees they…

BXR City

Charlotte Roberts

A launch date of all launch dates; on Tuesday 22nd February, BXR launched at 22 Bishopsgate. This really was, and is such a totally unique project to be involved in – a first for London and the UK market delivering the highest gym in Europe in the tallest building in…

Trends

Tracey Pollard

Each year BGP review the themes and drivers impacting our markets and explore how they are shaping the world of retail, F&B and leisure. However, before we look forward, it’s always useful to look back to see how last year’s predications shaped up, so this is a quick recap of our 2021 trends;

  • New Members’ Clubs
  • Men’s Make-Up
  • Rental Fashion
  • The Growth of the Neighbourhood
  • A New Approach

If you would like the BGP team to present their 2022 trend predictions in person or via Teams, please get in contact with Cara Milligan.

1 Day to go

Tracey Pollard

It’s been an eventful year to say the least, but throughout its ups and downs the BGP team have remained driven and passionate in providing the right solutions for our clients. A massive thank you to our amazing team, who have delivered some tremendous results and our best wishes to…

3 Days to go

Thea Rowe

Competitive socialising and leisure is something we have discussed over the years in previous trends and we’ve been delighted to see this continue to grow across the UK with the likes of Hollywood Bowl and their most recent brand Puttstars. Given the last 20 months consumers (maybe even more than…

4 Days to go

Evie North

The growth in neighbourhoods and localism has never been more apparent. We are increasingly seeing some fantastic London centric operators look beyond Central London and out nationally and to the local neighbourhoods. Following the launch of The Ivy Asia, St Pauls at One New Change back in 2019. The Ivy…

5 Days to go

Lucy Cope

This time last year we were thrilled to welcome international renowned London florist McQueens, a global name in luxury floral design to North Audley Street only a stones throw away from Oxford street.

Their flagship store situated in the heart of the West End is the UK’s largest floral emporium. The 2,500 sq ft store displays an array of beautiful flowers and their international flower school hosts workshops from one day through to five week vocational courses.

McQueen’s joined existing retailers on the street such as Duck & Dry, Jab Boxing, Mercato Metropolitano and Joe & The Juice to name a few. Lucy Cope acted on behalf of our client Grosvenor to secure this letting. The unit is a prominent corner unit and it was not only important for us that the retailer looked beautiful from the outside but that this was an activating use, providing a unique offering for both the local residents as well as the office population.

For further info of opportunities available in North Mayfair please contact Charlotte Roberts or Lucy Cope

10 Days to go

Thea Rowe

We reported in our trends of 2021 about the rise of the neighbourhoods, and we’ve seen this trend to continue to grow throughout the year. There’s few better examples then our letting to Josh Katz for his new ‘grown up’ concept Carmel on Lonsdale Road, Queens Park. Marketing of 25 Lonsdale Road…

11 Days to go

Evie North

The future of retail destinations will be defined by the quality of experience. TOCA is a great example of the evolution of retail. A new 40,000 sq ft entertainment venue that boasts state of the art technology through its ball tracking, high quality food and generous drink offering is set…

12 Days to go

Tracey Pollard

The evolution of the retail and restaurants @ haysontheriver_Se1 got underway this year with a summer pop up run by the wonderful team at Bermonseybarkitchen. Due to its continued success, it has morphed twice, once into an autumn designed pop up and now into the most stunning festive winter bar. …

13 Days to go

Thea Rowe

22 Bishopsgate is newest addition to the London Skyline and an incredibly memorable project to be working on.

2021 has seen the opening of this ‘vertical village’ where the office occupants will have access to everything under one roof. From grab & go food to a restaurant, gym to a wellness retreat, all within the 61 floors.

We’ve seen the opening of the 22,000 sq.ft market secured by Woody Bruce on behalf of axa. Offering the occupants of 22 access to various kiosk style food options, coffee by the gentleman’s baristas,  a wine bar and a restaurant with terrace. Brought to you by Rhubarb.

We’ve also announced the recent letting to BXR on the 25th floor, secured by Charlotte Roberts, providing a workout with views for days!

And there’s more news to come in 2022 for levels 41 and 58-61. Watch this space

Contact Woody, Charlotte or Thea  for enquiries.

Film credit Alexander James TAIOkay

https://www.instagram.com/p/CXYJ-B0IUAK/

 

 

 

 

Leisure Investment Market

Andrew McGregor

Activity in the leisure investment sector has been slow to say the least. Yes, hotels and pubs have recovered quickly as an asset class, mainly driven by long leases and/or underlying residual values, but the more typical cinema-anchored schemes have been completely overlooked, and almost certainly “over-sold”. Consumer spending would…

Interiors

Charlotte Roberts

The past two years have brought about a number of notable changes in our lives; our homes transitioned into our offices, gyms, and social hubs (albeit over Zoom). This time spent at home has influenced the interior & design industry as we are far more conscious of the spaces we…

The Maine – 6 Medici Courtyard

Woody Bruce

The fashion set are back partying and The Maine, Hanover Square was the place to be seen. Whilst not opening to the public until the 15th November, The Maine played host to the British Vogue’s and Self-Portrait party last week, guests including the  brand’s newest campaign star, supermodel Irina Shayk and…

BGP Connects EP3

Lucy McGowan-Scanlon

We’ve seen an acceleration in the number of pop-ups in the last 18 months, with many Landlords now more open to considering shorter lease terms, this maybe as a result of the increase in voids, an understanding of the power of their marketing potential or as part of a rates mitigation strategy.

From a brands perspective, pop-ups provide a great opportunity to expand their reach, particularly as digital coverage has become so competitive, as well as allowing them to showcase new products, so we are seeing a wealth of interest in our pop-up opportunities.

Lucy McGowan-Scanlon worked with several BGP clients to secure exciting pop-up tenants and for Episode 3 of BGP Connects she talks to Laura Fernie and Tom Atkinson from TFL.

Well ahead of the trend, TFL were pioneers of the pop-up with the activation of Old Street Roundabout in 2014, so Laura and Tom offered a valuable insight into the merits of this developing sector.

BGP Connects EP1

Tracey Pollard

“Nothing will benefit human health and increase chances for survival of Life on Earth as much as the evolution to a vegetarian diet” Albert Einstein Download the first of our series of 10 Podcasts celebrating our 10th anniversary, where the Bruce Gillingham Pollard team share insights and interviews with our…

Tattu announces expansion into London

Rupert Bentley-Smith

Independent restaurant group Tattu has confirmed its expansion into London and will open its fifth site at Outernet’s The Now Building located in the heart of the city on Denmark Street this winter. Established in 2015, the group opened its first restaurant in Manchester’s Spinningfields district, followed by sites in…

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 many independent brands have taken the last 12 months to develop concepts and open out of lockdown with a bang. We can’t wait to spend more time in this slice of Havana heaven!

Thea Rowe of BGP acted on behalf of GPE and Rich Willcox, Etch acted on behalf of MJMK.

Where have all the commuters gone?

Victoria Broadhead

Although the country is now recovering from Covid 19 and we are getting back to some normality will we go back to the way it was? This obviously depends who you work for, the BBC questioned 50 of the UKs biggest employers and some 43 of these firms said they…

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 saw Westfield make a claim against The Fragrance Shop – there is a possibility that the High Court decision could be appealed.

It would be worrying if landlords saw the courts as the only remedy as it would be against their best interests. While the recent case decisions may have many landlords calling their lawyers, it needs to be remembered that making court claims for non-payment of rent is going to be a hazardous and protracted process. On a practical level, the courts are likely to be jammed with cases for many months and even then, there’s no certainty of getting a result.

Yes, there will be instances where there has been an irretrievable breakdown between the landlord and the occupier and it will be ‘see you in court’. But from a wider perspective, landlords need to be looking at their overall strategy to mend the financial damage caused by the pandemic and the exacerbation of the problems that were already facing the retail sector.

Base and turnover leases can help, but only if you can do the affordability modelling which gives you a feel for what different types of occupier can turnover in any given unit and location.  You want rents to be sustainable for the occupier and in line with what their revenues are: this protects both positions.  In this context, we created an affordability model for restaurants pre-Covid which we have developed further across various F&B sub-sectors and leisure uses.

Sharing risks and rewards greatly enhances the occupier and landlord relationship and brings more coherence to asset strategy. Winning in court may be a ‘jam today’ remedy for landlords, but it doesn’t address the longer-term issue of creating sustainable rental income.

Dan Taylor, Head of Lease Advisory was featured in Property Week talking about the challenges of lease resolutions.

 

Celebrating 10 years

Woody Bruce

10 years ago today I co-founded Bruce Gillingham Pollard and today we are a business of 26 amazing people, offering a full global service for Landlords and occupiers and have firmly established ourselves as the premier independent retail and leisure agency. We have genuinely changed places and created whole new destinations.  We have made great friends…

Post locakdown – What’s the future for retail?

Tracey Pollard

With the opening on non essential retail in a few days, we will see a raft of new store openings, many of which have been in the pipe-line long before COVID 19. One of the first new openings on our list to visit, will be Browns Brook Street, an 8,000…

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…

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