LEISURE
Rosa’s Thai Café, the Thai restaurant group, has revealed plans to grow its portfolio outside the London area following the successful opening of their site in Bluewater, Kent. The group is hoping to open around eight sites a year with the first lined up in Albert Docks, Liverpool. Founders Alex and Saiphin Moore opened their first site in Shoreditch in 2006 are still involved in the business which now has 15 sites.
Ei Group, formerly Enterprise Inns, has confirmed the sale of 370 properties to Tavern Propco Limited, a private company owned by Davidson Kempner Capital Management. The deal, worth £348m, will leave Ei with 42 commercial sites and the funds to reduce outstanding debt an invest in growth across other areas of their estate.
Shell and Jamie Oliver have announced a long-term partnership bringing more healthy options to Shell’s new food-on-the-go range. Over 500 Shell service stations across the UK will be offering more than 80 new products giving customers more choice and introducing more fruit, vegetables and colour into the range – 69% more fruit and vegetables across the sandwich range will amount to over 1.2 million additional portions of daily fruit and vegetables annually.
Simon Rhatigan and Simon Kershaw, who announced their plans to create a small group of boutique hotels back in 2016 when they launched Helmsley Hospitality, have completed the purchase of their first hotel, the Grade II-listed Mount Hotel in Scarborough. The new Bike and Boot brand will offer a 'modern leisure escape' with “funky interiors” at an affordable price. The second hotel will be a new-build 80-bedroom property in the Peak District National Park which is expected to be joined by others along the north-east coast, the Yorkshire Dales and the Lake District.
RETAIL
In an unusual collaboration, cosmetics giant Benefit has partnered with southern fried chicken brand Mother Clucker to launch a pop-up in Shoreditch for foodie fashionistas. JUST Wing IT will offer shoppers the opportunity to order chicken wings and enjoy the food whilst the Benefit team talk through and demo the new Roller Liner liquid matte eyeliner.
With retailers looking for new ways to reduce packaging, Lush is opening the first high-tech UK “Naked” concept store in Manchester later this week. The new store is opening following successful launches of two concept stores in Milan and Berlin. The store allows customers to use the LushLabs app that shows videos and information about the products including detailed ingredient information and ‘how to use’ demonstrations - thereby reducing the need for packaging.
Marks and Spencer have confirmed the next round of store closures that forms part of its restructuring plans: Ashford, Barrow, Bedford, Boston, Buxton, Cwmbran, Deal, Felixstowe, Huddersfield, Hull, Antrim Junction, Luton Arndale, Newark, Northwich, Rotherham, Sutton Coldfield and Weston-super-Mare will be the next 17 sites set for closure.
PROPERTY
Following the loan to redevelop 125 Deansgate in Manchester in 2016, The Merseyside Pension Fund has again agreed to support the Marcus Worthing Group with a £20m senior loan for the regeneration of the Grade-II listed North Western Halls in Liverpool. The building was originally built in the 1870’s as the North Western Hotel and formed part of a series of railway-connected luxury hotels, it been converted to student halls in 1996 and will now be converted back into a 202-bed hotel.
Wakefield’s Beck Retail Park has been acquired by Palmer Capital for £37.5m. In their first major retail park deal since Canadian asset management company Fiera Capital Corporation acquired an 80% controlling interest in the investment manager the investment will reflect a yield of 6.3%. The retail park is anchored by a 66,000 sq ft Sainsbury’s store with an unexpired lease of 19 years as well as a B&M Bargains, Home Bargains, Matalan and The Range.
Hotel chain Village Hotel Club’s executive chairman, Gary Davis, has announced plans to expand the group from 30 – 50 hotels in the UK by 2026. There are five hotels planned over the next two years in Southampton, Basingstoke, Cambridge, Milton Keynes and Slough and a further 15 sites planned by 2026. The group invests in the region of £24m and employs 120 people her site which equals a total investment of £480m over the next either years.