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A Week on the High Street - 3rd April

03 April 2019 by Local Data Company

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LEISURE

Taster, a delivery-only kitchen concept that launched in Paris in June 2017 is to open in London following a trial in Hackney. Having worked with a number of consultants, Taster has developed three pan-Asian brands:  Vietnamese Mission Saigon; Hawaiian poke bowl kitchen O Ke Kai and Korean fried chicken brand Out-Fry. Working with Deliveroo amongst others they promote themselves as offering ‘restaurant-quality meals’ delivered direct to the consumer.


Loungers
, the café and pub chain, which operates Lounge and Cosy Club branded venues across the UK, has revealed plans to float on AIM to fund further growth. The Bristol-founded company is targeting a total of 500 locations with 25 to open a year for the medium term.  Loungers is to open 25 sites in 2019 and there are a further 13 sites where contracts have already been exchanged and 35 sites believed to be in legal documentation or at heads of terms stage.

 

Manchester’s Oxford Road retail and leisure pop-up destination Hatch is to more than treble in size as phase two launches in June. Developer Bruntwood said the expansion would see the scheme grow from 2,480 sq ft to 11,840 sq ft creating a ‘new urban destination in the heart of Manchester’.  Phase two will consist of multiple zones including a food and drink zone offering both kiosk-style street food and larger more permanent restaurant and bar operations.  All will be housed in shipping containers and include workspaces, studios, free public spaces, a stage, rooftop DJ terrace and a multi-purpose events space.

 

With agreements in place to open five further sites in London in the coming months including its latest in Fenchurch Street next week, Australian chain Doughnut Time is actively looking for additional permanent and pop-up sites across London. The pop culture-inspired doughnut retailer was founded in 2015 and operates 23 sites in Australia as well as operating the world’s first doughnut academy above its flagship store in London’s Soho.

 

RETAIL 

The Edinburgh Woollen Mill Group owner and CEO Philip Day has made an offer for womenswear retailer Bonmarché via his Dubai-registered company, Spectre Holdings.  Spectre Holdings has acquired over 26 million shares from BM Holdings at a price of 11.445 pence per share. Bonmarché was founded in 1982 and trades from more than 300 stores and concessions across the UK.

  

Nisa has announced that it will roll out around 1,000 Co-op own brand products bringing the total number available to Nisa and Costcutter Supermarkets Group retailers to almost 2,000 - more than 80% of the Co-op range. The rollout will commence this month on a category-by-category basis.

  

Following the acquisition of Steamer Trading and Kitchens by cookware retailer ProCook in January it has confirmed that it will close six of its 27 sites. The leases on the 21 remaining Steamer Trading sites are nearing completion and are benefitting from new products and new look stores. The stores closing are: Guildford, Brentwood, Cardiff, Hereford, Stamford and Witney.

  

Founded by Liam Gallagher in 2009, Pretty Green, the men’s fashion brand has called in the administrators citing difficult trading conditions on the high street as well as the collapse of House of Fraser.  The company operates 12 shops and concessions in House of Fraser department stores. Administrator Moorfields said that the company has attracted a ‘large amount of interest’.

 

Ladies value fashion retailer, Select, who operates 183 stores across England and Wales has signed a CVA and announced plans for a major restructuring. Parent company, Genus UK, has made the move to put their debts on hold and buy them time to save the company from going bust but there may still be store closures putting up to 2,000 jobs at risk.

 

Lidl has confirmed that it will roll out its “Too Good to Waste” fruit and vegetable boxes across all Lidl stores in the UK.  The boxes are prices at £1.50 for around 5kg of fruits and vegetables that have been slightly damaged, discoloured or deteriorated but still perfectly good to eat.  Customers will be offered the boxes until midday at which time any leftover boxes are given to local good causes.  During the initial trial Lidl sold more than 50,000 boxes preventing 250 tonnes of food going to waste.

  

PROPERTY 

Lidl, supported by Walsingham Planning look set to get the go-ahead from councillors for a trio of retail units on a former South Yorkshire colliery.  The scheme comprises of a retail parade with an external area of 6,500 sq ft and car park for around 40 vehicles.  The three units will measure 2,350 sq ft, 2,500 sq ft and 1,250 sq ft and will be available for a range of uses including retail, food and drink and leisure.

  

Pavilion Retail Park, located on the Lewes Road in Brighton, has been bought by CCLA Investment Management for £32m representing a 5.5% net initial yield.  The recently refurbished scheme spans 76,827 sq ft and is fully let to Aldi, B&Q, Halfords, Hobbycraft and Costa

 

British Land has sold its entire portfolio of 45 pubs, all of which are occupied by Greene King’s Spirit Pub Company, to Aprirose for £130m.  Aprirose now own almost 200 pubs with their acquisitions of 22 Marston’s sites in January this year and 73 from Mitchells and Butlers in 2017. 

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