October opening for Westgate Oxford
The Westgate Alliance – Landsec and the Crown Estate – will open its 800,000 sq ft Westgate Oxford shopping centre in October. The £440m scheme is anchored by a 140,000 sq ft John Lewis but also includes names such as Guess, Jo Malone, Victoria’s Secrets Pink, Next, Pho and Polpo. Some 15m shoppers are expected annually.
Increasing attraction of blended retail
Blended retail is on the rise as retailers look to find new ways of attracting shoppers and increasing dwell times. Aside from the more obvious coffee bars, some retailers have introduced juice bars, ice cream, nibbles and wine in store or simply free water bottle refills. But it doesn’t stop with refreshments, activities such as yoga classes have been seen as part of the shift towards the experiential rather than merely retail.
Confidence in decline among UK shoppers
Consumer confidence is weakening and expected to continue its downward trend in retail indices. The weak pound, cost inflation outstripping wage inflation, and uncertainty about the impact Brexit will have on the economy are all contributing factors.
Slew of secondary stock on the cards
An increased supply of stock from forced sales in secondary markets may not be far away, according to Colliers International’s Midsummer Retail Report. Good news, at least, for those with money to invest in non-prime retail.
Hilton plans UK expansion
Some 30 new Hilton hotels will open in the UK over the next two years, expanding the US chain’s presence in the country by nearly 25%. While additional hotels are planned for London, regional cities will also be targeted, among them Leeds and York. The expansion will focus on the chain’s Hampton and Hilton Garden Inn brands, but will also include a second Curio brand hotel, the Lincoln Plaza London.
White Rose to set solar benchmark
Landsec has installed the UK’s biggest shopping centre solar panel system – with close to 3,000 panels – at White Rose in Leeds. The installation will supply 39% of the daytime electricity used in the centre, generating 680,000kWh of power a year. Landsec said it expects the system to reduce carbon emissions at White Rose by 250 tonnes in its first year.
Fashion sees worst July since 2009
Fashion sales fell by 3.5% on the year last month, making it the worst July for the sector since 2009, according to BDO. Shoppers are diverting their attention to essentials, said BDO head of retail and wholesale Sophie Michael.
B&M acquires 251 Heron stores
Discount retailer B&M Bargains has acquired Heron Foods Group in a deal that values the grocer at £152m. The acquisition of Heron’s 251 stores in the north of England will enable B&M to create a discount convenience grocery brand.
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