Insights Hub

LEISURE

Abokado, the healthy eating London-based chain, has launched a CVA following a ‘sharp reduction in sales’ and being the victim of a ‘sophisticated’ banking fraud. In a statement the company said they are ‘taking measures to improve performance against prevailing headwinds’ and they hope the CVA will ‘mitigate and/or remove factors to underpin the short, medium and long-term viability of Abokado’.

The Restaurant Group (TRG) has opened three new airport sites. US better burger brand Shake Shack, the first in their portfolio, will open at Gatwick’s North Terminal in the former EAT site; Barburrito will replace the Shake-A-Hula unit also at Gatwick’s North Terminal and they have launched a new concept Bocco Italian Kitchen & Bar at Aberdeen airport.

Working in partnership with Olympic Studios, the Selfridges Group has announced it will open its first permanent cinema in their flagship Oxford Street store at the end of November. The luxury department store aims to increase both footfall and dwell time with access to the cinema in-store as well as directly from the street. The Selfridges cinema will be open all year and show both blockbuster and independent movies.

Street food pioneers KERB has opened their first-ever permanent home with a 24,000 sq ft all-day destination in Seven Dials, London. The Seven Dials Market was built in 19^th century and was used to store cucumbers and bananas which has given the market its two distinct areas: Cucumber Alley is in indoor lane of specialist London producers and Banana Warehouse will be home to renowned street food traders and brand-new restaurants. The world’s first cheese conveyer belt Pick & Cheese, award-winning vegan restaurant Club Mexicana, family-run bakery Karaway, British charcuterie champions Crown & Queue and East London Liquor Company are amongst the 25 food businesses opening alongside a bar and bookshop.

Costa Coffee has agreed deals for 15 new out-of-town sites across the UK. The new openings include 10 new drive-thru locations and stores at Cribbs Causeway in Bristol, Speke Boulevard in Liverpool, Hermiston Gait Retail Park in Edinburgh, Tower Retail Park in Poole and Gallagher Retail Park in Caerphilly. The coffee chain has also agreed four new drive to sites including outlets in Salford, Bridgwater and Liskeard.

RETAIL

Fashion retail group Oasis and Warehouse are venturing into menswear for the first time with the acquisition of online-only menswear retailer The Idle Man. As part of the deal, The Idle Man will have access to Oasis and Warehouse Group’s knowledge, industry experience and established supply chain and infrastructure.

Gifts and gadgets retailer Menkind has acquired online gift business Qwerkity from The Book People. With a significant customer base that has strong position with older customers Qwerkity will allow Menkind to strengthen its position within this demographic and offers a natural expansion into the gift market.

Sports Direct boss, Mike Ashley, has again set his sights on another high street retailer. Struggling jewellery chain Links of London came to the market revealing it needed to find a new owner in a matter of days following its Greek parent Folli Follie being embroiled in a fraud crisis. It is understood Ashley is one of the last two bidders.

PROPERTY

Redevco has acquired One Tower Bridge from the Berkeley Group for £70m. The mixed-use development in Southwark, London comprises of 25,328 sq ft of retail, restaurant and cultural space in the form of 11 food and beverage units, 2 retail units as well as the Bridge Theatre. The development also contains 350 apartments, a pool, gym, and spa.

Hyatt Hotels Corporation will open two hotels in Manchester’s Lume Building next year. The Hyatt Regency Manchester Oxford Road will feature 212 rooms and the Hyatt House Hotel Manchester/Oxford Road, which is an extended stay offering, will feature 116 rooms. 

Regeneration specialist developer U+I have secured planning for a mixed-use scheme at Swanley Shopping Centre in Kent. The scheme will see part of the existing shopping centre and car park transformed into more than 300 new homes as well as 46,479 sq ft of additional retail/commercial space, a new community facility and a multi-storey car park.