retail
The latest Barclaycard spend data reveals record levels of transactions on Black Friday this year. Consumers surpassed the all-time record for transactions per second between 12pm and 1pm, “making the most of their lunch break to bag a bargain”. Transactions were up 4.9% on Black Friday 2019, which head of Barclaycard Payments Marc Pettican attributes to shoppers spreading the cost of Christmas. He added: “While shoppers may be tightening their belts overall, it looks like some have been holding back on purchases to wait for the sales to start and others are likely on the hunt for deals for Christmas gifts.”
Primark has announced plans to open four new UK stores. The new sites are planned for Craigavon, Salisbury, Teesside Park and a former Debenhams unit in Bury St Edmunds. The retailer will also relocate its Bradford and High Wycombe stores. The announcement follows the launch of Primark’s click-and-collect pilot scheme in 25 of its stores in the North West.
Canadian quick-service food brand Tim Hortons is set to expand its drive-through estate in the UK. It has just opened its 50th drive-through, in Watford, and will open four more before the end of the year. The brand has 40 more sites planned for 2023 alone, including in Liverpool, Swansea and Dundee. Kevin Hydes, chief commercial officer of the Tim Hortons franchise in the UK, said: “We have planned our site acquisition strategy carefully to ensure that we are securing as many drive-thru sites as we can… We only see this demand growing[.]”
Property
A new Q3 report from BNP Paribas Real Estate has revealed that Central London office take-up is the second-highest in Europe. Central London offices saw a 63% increase in take-up compared with the first nine months of 2021. Dublin registered the highest take-up with a 175% increase. The professional services sector made up most of the Central London take-up at 27%, followed by banking and finance at 19%. Head of tenant representation at BNP PRE Ben Thomson said: “Occupiers are clear in what they want in a post-Covid world: amenity-rich spaces to retain and attract talent and clients, sustainable buildings that support their ESG ambitions and prime locations close to transport hubs.”
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