Insights Hub

LEISURE

Italian food hall chain Eataly is to open its 2^nd UK site in the 188-hectare food and leisure attraction that is being built near Harrogate in Yorkshire.  Future Park is being developed by Fallons and will offer 160,000 sq ft of commercial, leisure and retail space, will create 1,000 jobs and is expected to attract an estimated 3.5 million visitors a year.  Eataly has more than 35 sites worldwide its first in the UK will be on the ground and first floors of 135 Bishopsgate, London offering specialist food counters, restaurants and “production laboratories” where food will be prepared on site. 

Santa Nata, the Portuguese pastelaria is to debut in the UK with two sites in Covent Garden within the next two months. The Russell Street site will open next month with second in New Row in May.  Co-founder Francisco Oliviera’s family have been baking since 1900 with seven bakeries in Portugal. Customers will be able to watch tarts being hand-made daily with a bell rung every time a batch of the traditional Portuguese egg custard pastries emerges from the oven.

Lebanese grill house, Kababji, which operates 26 restaurants across the Middle East will open its first UK site later this month in the old Chimichanga site in Wimbledon. The concept will bring a tweaked version of its format that will specifically target millennials allowing food to be ordered direct from the kiosks or their table and track the progress of their food on-screen.  Hylton Patterson, formerly of Tortilla said, “Wimbledon will be our first urban village opening before we expand into central London and the rest of the UK”.

Denbighshire-based brewery, Dovecote Brewery has revealed plans to significantly expand its number of micropubs just a year after opening its first venture in The Dove, Rhyl.  Since then they have opened three more sites in Prestatyn, Rhuddlan and Abergele with hopes to have 12 venues by the end of 2019.

The Restaurant Group, who bought the Wagamama brand at the end of last year has developed a grab-and-go concept which will be branded as Mamago.  Trials will start later this year and will offer a ‘newly developed Asian menu to capitalise on increased customer demand for convenience”.   TRG are set to open three or four new Wagamama restaurants this year as well as converting eight of its existing sites to the brand.

RETAIL 

Sports Direct owner, Mike Ashley, has reportedly made an offer for premium fashion and footwear retailer LK Bennett that was placed into administration on 7^th March.  This comes in the same week that the billionaire offered Debenhams an interest-free loan to the value of £150m which would take his stake from in the just under 30% to 35% without being obliged to make an offer for the full business.  If this ‘whitewash’ is not permitted, then Ashley said that the loan would bear interest.

Sir Philip Green is “exploring several options” to restructure the Arcadia Group including the possibility of a CVA that would result in store closures.  It is understood that 30 stores would close with lease negotiations on the likes of Topshop, Dorothy Perkins, Wallis and Burtons.

Stationery chain, Office Outlet is set to appoint administrators this week as the retailer struggles to pay its quarterly rent that is due on March 25^th.  Formerly known as Staples, the retailer operates 90 shops and employs 1,200 staff. The retailer launch a CVA last year but this failed to save the business and has quoted challenging times and a decrease in stationery and office supplies as reasons for the collapse.

Both Sainsbury's and Asda have agreed to invest around £1bn into their pricing strategy and to apply a profit cap to fuel revenue if the planned merger is approved by the CMA. The £1bn would go towards reducing prices by 10% on everyday products, a move which the two companies hope will allow the CMA to "recognise that there is a clear benefit to consumers from combining the two businesses".

PROPERTY

A partnership between Stevenage Borough Council and Mace will see £350m invested in SG1 which will create a whole new quarter on the western side of the town centre.  The plans will incorporate new residential, retail, restaurant and leisure spaces as well as a redesigned town square and a hub that will include a new library and health facilities.

Bracknell will see a £30m retail investment as the regeneration of Princess Square and the creation of The Deck has been agreed adding additional food, drink, retail and leisure facilities to the town.  The latest milestone has been signed between Bracknell Forest Council and its development partner, Bracknell Regeneration Partnership – a 50/50 joint venture between Schroders UK Real Estate Fund and Legal & General Capital.