retail
Store vacancies have fallen for the fifth consecutive quarter, according to the latest BRC-LDC Vacancy Monitor. Our latest research in partnership with the BRC found that the overall GB vacancy rate improved to 13.8% in Q4 2022, a 0.1% improvement on Q3 and a 0.6% improvement on Q4 2021. LDC commercial director Lucy Stainton said: “With vacancy rates being such a good barometer of the overall health of the physical retail and leisure landscape, it’s really positive to see the number of empty units at a Great Britain level continuing to fall since they peaked mid-pandemic.”
Leisure
Sandbox VR is to open its first UK location outside London in the Bullring and Grand Central in Birmingham. The new signing, set to open in summer, is part of Hammerson’s move to diversify the site. Billed as “the world’s most advanced virtual reality experience”, Sandbox VR will open in a 13,000sq. ft. unit, offering group virtual reality games powered by motion capture cameras, 3D full-body trackers and haptic feedback suits. The leisure offering will also be complemented by the brand’s well-known robotic bartender, capable of serving up to 80 drinks per hour.
Pasta Evangelists has announced plans to open more than 800 takeaway units in the UK. So far, the pasta delivery brand has launched its takeaway service in London, with customers able to order a takeaway via the Pasta Evangelists website. It currently operates over 30 takeaway units across London and has expanded into other cities including Leeds, Cambridge, Bristol and Manchester. Founder and MD of Pasta Evangelists Alessandro Savelli said: “Pasta has previously been seen as the ‘last frontier’ in takeaway due to its notorious difficulties with being transported… Since we started experimenting with takeaway with Deliveroo a few years ago, we have managed to overcome the challenges faced by other brands in the industry using a test-and-learn strategy [.]”
Property
Poundland is undertaking its “biggest transformation” yet, in which 50 stores will open, expand or relocate, planned to complete by autumn 2023. The plans include the opening of an 18,380sq. ft. store on Glasgow’s Crown Street, which will be Britain’s biggest Poundland. New stores are set to open across high streets and shopping centres, with some large units planned for retail parks.
901
901