retail
Marks and Spencer plan to move away from town centres as sales of online clothes and homewares rise. The shift to online shopping, especially over the pandemic, has prompted the retailer to reduce the space allocated for clothing and homeware products instore. It is planning to relocate some stores to the edges of towns, including former Debenhams sites in Leamington Spa and Thurrock. As part of the plans for its portfolio, 15 full-line stores and 40 food stores are to open in the next three years and around 110 main stores in total will eventually close.
Leisure
The latest statistics released by the Campaign for Real Ale have revealed that just over seven new pubs opened per week in H2 2021, including new pubs being built and spaces converted into pubs. The group called the figures “encouraging”, although also pointed to 290 closures for pubs over 2021, an average of five per week. CAMRA spoke in support of an online sales tax being used to help relieve the rates burden on pubs and hospitality venues, and cuts to VAT for on-trade food and drink sales to reduce costs for businesses and consumers.
Chinese restaurant group Zhang Liang Malatang will make its European debut on London’s Shaftesbury Avenue this summer. The 1,200sq ft site will host the ‘serve yourself Sichuan eatery’, which already has over 5,000 sites across the Asia-Pacific region. The restaurant is one of two new signings recently announced for the area by landlord Shaftesbury; Hong Kong-style restaurant The Eight has taken over a 1,500sq ft space. Julia Wilkinson, restaurant director at Shaftesbury, said of the brands: “By choosing Chinatown London, they also really cement the destination’s position as somewhere ESEA brands can trust, with an insatiable growing audience that will help them to succeed.
Property
The owners of the Cuckoo Bridge retail park in Dumfries have submitted an application to lift planning restrictions in order to pave the way for a £2.6m investment. Investors New River said that the retail park had faced long-term vacancies compounded by the pandemic and the shift to online shopping. They added that if Dumfries and Galloway Council agree to lift the restrictions, it would allow them to fill two units— Food Warehouse and the Gym Group are prospective tenants.
Shaftesbury have voiced concerns over the effects of rising inflation and the cost of living crisis on London’s West End. It said that businesses are contending with a raft of challenges: “Inflationary pressures, tax increases, rising cost of finance and supply chain disruption could weigh on the outlook for consumer confidence and spending.”
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