retail
The latest ‘back to the office’ data from Springboard suggests that the return to the office has slowed, possibly due to rising Covid-19 cases. Footfall declined by 4.2% in office-dominated areas in central London, and by 5.1% in regional cities. Insights director at Springboard Diane Wehrle said this decline could also be linked to the half-term holiday, adding: “The drift back to the office has also slowed, with an even larger drop in regional cities outside the capital and in Springboard’s back to the office benchmark. On a positive note, the drop in footfall in central London as a whole was a third of that across UK high streets, suggesting that more visits are being made into the capital for retail and leisure purposes.”
Asda has launched its first premium ‘On the Move’ store in Beaconsfield, Buckinghamshire. The store, situated on an EG Group forecourt, features products from the supermarket’s premium ranges of fresh and chilled ‘Extra Special’ food products, ready meals and alcohol. Asda plans to roll out 28 On the Move stores by the end of this year. Chief merchandising officer Derek Lawlor said: “The launch marks a milestone in the evolution of Asda On the Move and our convenience offer, as well as an increased focus on showcasing our Extra Special range, which continues to be a popular choice with customers with like-for-like sales in this category up by more than 20% in Q2 compared to the same period in 2019.”
Leisure
The Big Table Group, which operates Bella Italia and Café Rouge, has set out plans to grow its total UK estate to 200 sites, focusing on its Las Iguanas brand. They plan to open 50 restaurants in the next three years, which includes doubling the current number of Las Iguanas restaurants. Big Table Group chief executive Alan Morgan said: “Las Iguanas has consistently proven to be an extremely popular choice with consumers, and now is the perfect time to grow the brand across the country, targeting high footfall locations in major towns and city centres.” The group has also opened its first dark kitchen this month, in London’s Battersea, with plans for another in Birmingham.
Black Sheep Coffee is set to double the size of its UK estate by the end of summer 2022, reaching almost 100 sites. The group are also set to expand in the US after having received funding from private investors including NBA player Kristaps Porzingis. The UK expansion will target a mix of major cities and regional locations, high office density areas and highly residential areas. The brand currently operates 50 sites in the UK, with more than 30 in London. It also has outposts in Paris and Manila.
Property
The UK could run out of warehouse space within a year, according to property agents Cushman and Wakefield. Supply chain disruption and the growth of online sales has contributed to the lowest level of available warehouse space since Cushman started tracking the sector in 2009, with space falling below 50m square feet. This is roughly the same amount of space taken up by businesses in the first nine months of the year. Bruno Berretta, who leads logistics research at Cushman, said: “Even though developers have been fairly quick to respond to the shortage . . . when you look at how quickly development is being taken up, there’s probably not enough [warehouse space].”
Openings
London Cocktail Club is to open three new venues in Bristol, Reading and Central London next month; Small plates Indian restaurant Manthan has opened in Mayfair; Hawksmoor has announced that its Canary Wharf site will open on the 25th November; South Korean fried chicken brand Pelicana will open its second London site at the Angel Central shopping centre in Islington; London pizza brand Crust Bros is to open its third site in Balham early next year; Doughnut brand Longboys is to open its fourth site in Camden; Bar concept Hokus Pokus Alchemy Lab is to open at London’s Megaro Hotel this month; Flexitarian restaurant Plants & Grills has opened its first restaurant at Oxford’s Westgate shopping centre.
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