George Street is having a Marylebone moment. 

The last 12 months have brought a wave of quality operators to George Street – X-Club and atis are open and trading, Pachamama lands at the end of August and Empire Empire are bringing their second site to Marylebone following the success of their Michelin recognised debut in Notting Hill. With several more brands under offer, we are excited to see who else comes forward.

What’s driving it?

George Street is fast becoming the connective pitch between Marylebone High Street and The Portman Estate, reinforced by the arrival of Loxton Walk, a new landscaped and pedestrianised courtyard connecting Baker Street to George Street, and Blandford Street to George Street, soon to welcome leading London independents such as Le Choux, Iris Avenue and Matchado.

Unlike Chiltern Street, George Street offers a greater supply of slightly larger floorplates, making it attractive to brands that have outgrown smaller boutique units or simply have a larger requirement. For these operators, George Street provides the ideal balance of larger units, strong passing trade and access to an affluent worker and residential demographic, without the rent profile of a prime Baker Street location. As more reputable brands turn their focus to George Street, the quality of the occupier mix continues to improve creating momentum that is attracting further interest from likeminded operators.

One to watch!

37 – 39 George Street is in the planning process to be converted into a new reco-air restaurant with generous outside seating. Please get in touch for early details!

This week Karve opened in Victoria – the third location for the premium pilates studio that offers its clients everything from classes and coffee to a strong community.

Karve are my client within the tenant rep team, and I acted to bring them to Victoria. Other recent wellness operators the BGP team have brought to destinations across London and the UK include award winning fitness studio Blok, contrast therapy specialist Arc, smoothie brand Elevate, all Barry’s Bootcamp sites in London and throughout the UK and the sought after Marchon gym that opened in Victoria last month. What does that tell us? Well, apart from the fact that BGP has some amazing clients…..! It shows that wellness is no longer an add on to placemaking schemes. In fact in many mixed use developments; wellness businesses are becoming the anchor.

When it comes to London leasing, BGP was ahead of the wellness trend. We advised on some of the first and most progressive wellness tenant mixes, including the first ‘skyscraper gym’ within a building, BXR at 22 Bishopsgate as well as the first wellness village in London, Eccleston Yards established over 5 years ago.

Wellness operators, from gyms and strength studios to smoothie bars and saunas, are now a key element when creating a place that people want to travel to. They bring footfall daily, and – unlike dining consistently throughout the day, evening and weekends, while increasing dwell time. They create a community. In BGP’s recent panel discussion “How Well is Retail”, featuring White Rabbit and contrast therapy operator Arc Community CEO Chris Miller, he explained that the idea of Arc was as much about creating a community as a wellness concept. After all, the statistics on the lack of alcoholic drinks in young people speak for themselves – the pub is no longer the default place to meet and socialise, particularly for Gen Z. Instead, wellness studios and cafes are leaping into the (alcohol free) mixer. Gym and fitness concepts have proved incredibly good at creating these incredibly engaged communities, both online and in person – they have Instagram friendly studios, strong ‘community’ messaging and meet ups and events that extend far beyond the actual gym class.

The opportunity this presents for landlords is clear. Selecting a strong wellness operator for a scheme will help build long term loyalty for a destination and strong local engagement; while bringing 24/7 footfall to neighbouring businesses at the same time. Wellness is no longer an afterthought for landlords – its part of a habitual human lifestyle change. It’s a day to day essential for customers that is changing the way we approach placemaking.

Things are changing at Brent Cross.

The UK’s first indoor shopping centre opened its doors to customers in 1976, with the ribbon cut by King Charles III himself. Anchored by John Lewis, Apple and Fenwick’s, the centre offers nearly 914,000 sq ft of retail and hospitality and is North London’s most visited retail destination.

Today, Brent Cross is in the process of an incredible transformation. A new leisure offering is being revealed; at the end of last year, Padel Club and Social Sports brought a much needed sport offering to Brent Cross with the launch of 10 new padel courts, and negotiations are currently underway with some of the UK’s most exciting F&B operators.

And what about retail? A shift in the centre’s leasing strategy to draw in more aspirational operators is evident through recent openings. The hoardings are up, announcing the imminent arrival of a luxurious new Polo Ralph Lauren. Premium childcare apparel store Newbie has opened on the ground floor, shoe brand Geox and cult wellness brand Neom have opened their doors; and Gen Z favourite jewellery and accessories brand Lovisa’s upsize to a larger store will open soon. The openings form part of a wider strategy for Brent Cross to bring in a more progressive fashion and beauty offer, creating broad appeal for a wide age group ranging from teens and Gen Z to older customers.

The enormous opportunity at Brent Cross is obvious. The wider area is one of the most affluent in the UK, with 29% falling within the top 3 highest spending ACORN categories The catchment is set to be boosted by the 73 hectare Brent Cross Town development – under construction opposite the centre – which will deliver exceptional transport links, 6,700 new homes, 3 million square feet of office space and 50 acres of parks and green space to Brent Cross’s doorstep. It is anticipated to draw a huge increase in families and young people; transforming the area’s footfall in the process.

With so much happening and momentum set to continue throughout 2025, the transformation of Brent Cross has only just begun.

Bruce Gillingham Pollard, alongside Cushman and Wakefield, are appointed by Hammerson to handle Retail and F&B leasing for Brent Cross.

As 2024 gets off to an incredibly busy start of viewings and offers here at Bruce Gillingham Pollard, Rob Barnes argues that there is great cause for positivity ahead – for those businesses willing to diversify

As we consider the outlook for the year ahead, a key question dominates. Are we being too negative?

A glance through 2023’s business headlines may have lead us to believe that the high street is in its death throes, with the demise of Paperchase and Wilko cited as an example of widespread decline.

However, one month in to 2024 and already a different picture is starting to emerge. Here at Bruce Gillingham Pollard – where we have a particularly diverse range of instructions –  it has been an incredibly busy start to the year, with a large number of viewings and offers.

We don’t have to look far to find specific reasons for positivity. Discount retailer B&M – incidentally, Wilko’s rival – is planning a 45-store expansion, while department store group Frasers has stated an ambitious aim of 100 new locations. While from an F&B perspective, casual bar and restaurant chain Loungers is in rude health, having just celebrated it’s 250th opening.

So what’s their secret? In short, with speed and agility – and the help of landlords – they have adapted to a new retail landscape by diversifying their offering.

Recognising the need for change, landlords are offering flexible arrangements that attract innovative players. Lets take Frasers as an example. The retailer has dramatically revamped its proposition, with a new flagship Everlast Gyms at the Metrocentre in Gateshead sitting in a 37,000 sq ft facility located in the former Debenhams, alongside sister brand Sports Direct. On the ground floor is Flannels – further diversifying their offering, while bringing the total Fraser’s Group footprint to 130,000 sq ft.

Loungers have also taken a proactive approach to diversification. Primarily situated in suburban high streets and small town centres, each uniquely designed (and named) outpost combines features varying elements of a restaurant, pub and coffee shop. The overall focus on community is one that has certainly resonated well with their customers across the UK.

While it is clear that retail faces big challenges, evidence from the bigger picture suggests resilience. According to Savills, total retail demand in 2023 increased by 5.5% compared to the previous year, following another 3% increase in 2022.

So perhaps the conclusion is that rather than justification of ongoing retail landscape pessimism, the closure of a few well loved brands in 2023 was simply the weeding out of unsustainable business models – while the future belongs to those willing, and able, to diversify.

Having returned from Landsec, Sophie Moorcroft has now moved into the capital markets team at Bruce Gillingham Pollard working alongside Jack Barratt, Woody Bruce and Nick Halley bringing an understanding of client requirements. Her experience at Landsec spanned all geographies and sectors, and the move to the capital markets team poses an opportunity for her to specialise, whilst bringing further adaptability to the team.

Advised by BGP, The Ardent Companies UK has completed its acquisition of the retail element of The Royal Exchange in the City of London from Oxford Properties.

The Royal Exchange, located opposite the Bank of England between Threadneedle Street and Cornhill, is the City’s leading luxury retail destination.

Providing 51,400 sq ft of retail space around a historic covered courtyard, brands at the scheme include Tiffany & Co, Hermès, Bremont and Fortnum & Mason.

BGP’s Woody Bruce commented: “This is an iconic City of London property and we’re delighted to be part of its future evolution as the City adapts to new working and shopping patterns”.

This weekend, why not head to the newly opened Sandbox VR UK in Museum Street, London. Jump into a high-tech virtual reality world and choose to be at the centre of a zombie attack or fighting pirates on the high seas.

London’s first Sandbox VR uses Hollywood motion capture cameras, 3D precision body trackers, custom hardware, and haptic suits, so you feel at the centre of the action, and you definitely leave reality behind.

Great work from Harry Cody Owen and joint agents Freddie Steel and Duncan Gilliard of Cushman Wakefield in securing a UK first.