Category: News (102)

Acting on behalf of Carpettright, TDK have recently negotiated surrenders on recently closed stores in Londonderry, Ballymoney and Omagh.

Commenting on this Mark Thallon of TDK said “Carpetright approached us towards the end of 2013 to take on the instruction and try and inject some momentum into their Northern Irish disposal programme. We are delighted to have completed on 3 surrenders in a relatively short period of time and look forward to working with Carpetright as they continue to rationalise their store portfolio.”

The addition of Carpetright as a client complements TDK strength in advising occupiers the Out of Town retail market with other active clients including Halfords, Pets at Home, Dunelm, Poundland, Mothercare and Costa Coffee.

Fashion brand COS is opening its first standalone store in Ireland, on Wicklow St in Dublin, this spring.

Spread across 574 sq m over two floors, the store will feature the full collections of womenswear, menswear and childrenswear and will open with the Spring/Summer 2014 collection comprised of bold shapes and soft colours.

The store interior will focus on the use of natural materials and stylish minimal features with the aim of creating a relaxing shopping environment.

“Since opening our first COS concession in Ireland in 2010, we have been fortunate that the brand has received such a positive response,” said Marie Honda, who is responsible for the overall COS brand.

TDK negotiated the acquisition of this property on behalf of COS, the unit previously traded as Tower Records.

There are COS concessions in BT2 Grafton Street, Dundrum Town Centre and in Brown Thomas Cork and Galway.

Part of the H&M Group, the COS brand was launched in 2007 and since then has opened stores across Europe, Asia and the Middle East.

TDK have been appointed sole letting agents of an exciting new restaurant and leisure development Boucher Square at Boucher Crescent, Belfast.

In one of the first new schemes to be developed in Belfast over the past 5 years, locally based Alterity Investments have secured planning for the new 4 unit scheme comprising c.12,000 sq.ft. of space dedicated to catering use.

The subject site sits directly opposite the successful Boucher Retail Park whose tenants include Next, River Island, HMV, New Look, Arcadia and Cotswold.

Commenting on the concept Mark Thallon Retail Partner at TDK said “We identified in conjunction with Alterity the need for a purpose built catering destination to serve the needs of both the working population and numerous shoppers who flock to the Boucher area. We believe the resulting scheme will satisfy the existing demand and this has been demonstrated by the level of interest received from established national catering operators”

The scheme will provide in excess of 12,000 sq.ft. of space and the completed units will be built to a high specification to include significant glazing and the scheme will benefit from in excess of 100 on site parking spaces.

For further details please download a copy of the brochure

H&M Group has recorded a 6 per cent growth in turnover for its fiscal year.

The Swedish fashion giants saw its turnover exceed EUR 14.6 billion for the period between December 1 2012 and November 30 2013. Gross profit grew from EUR 8.1 billion to EUR 8.1 billion and its net profit reached EUR 1.95 billion.

Its fourth quarter turnover grew from EUR 3.7 billion to EUR 4.1 billion, with net profit reaching EUR 0.63 billion.

H&M chief executive Karl-Johan Persson said in a press release: “2013 ended strongly with well-received autumn collections, which increased our sales in the fourth quarter by 13 per cent in local currencies”.

H&M now plans to open an additional 375 stores to add to the 356 opened in the last fiscal year. Among those, the very first store in Australia and the Philippines.

The fashion firm is also plotting to reach a further four countries online, including France, which will open its first web shop soon.

Source: Joe Stearn – My Retail Media – 5th February 2014

TDK have been appointed as sole letting agents at Lisburn Leisure Park with effect from January 2014.

Lisburn Leisure Park is one of the primary leisure facilities within Northern Ireland. The scheme is home to the popular Lagan Valley LeisurePlex and a 14 screen Omniplex cinema which complements a strong catering offer from established names such as Costa Coffee, KFC, Subway, Ed’s Bar & Grill, Pizza Hut and Springsteen’s Diner.

Commenting on this instruction Mark Thallon Partner at TDK commented “We are delighted to start 2014 in a positive fashion with the appointment as letting agents in what is one of Northern Irelands most successful and popular leisure destinations. We hope to build on the good work of securing Costa Coffee in December 2014 and plan to secure additional occupiers who will add to the strength of the Park”

There are currently two units immediately available and further details can be found on the attached link.

Omni Shopping Centre got a major boost last week with the opening of a new H&M store in a deal structured by TDK’s retail team.

The Swedish fashion giant has taken over the former Tempest fashion outlet, which has a floor area of 1,207sq.m (13,000sq.ft) over two levels.  The addition of the Omni store takes H&M to 14 trading stores in Ireland.

Great news for Northern Ireland as Costa Coffee, the nation’s favourite coffee house, will open three new stores creating up to 40 new jobs, with additional seasonal staff, over the next few months.  The stores located at the Kennedy Centre, Belfast, Lisburn Leisure Plex and Hollywood Exchange will provide all the top quality Costa drinks, food and products including the Coffee Club – a points based reward scheme offering lots of free products.

The store at the Kennedy Centre opened its doors on 15thNovember with Lisburn Leisure Plex expected to open on 30thNovember and Hollywood Exchange early December. These three new stores will bring the Costa stores in Northern Ireland to 21 and employing 250 people. Costa Coffee, through the franchise partnership with MBCC Foods Ireland Ltd, opened their first store in Northern Ireland in 2004 at Belfast City Airport.

Dervla Arthurs, Marketing Manager for Costa Ireland, said:
“We are delighted to be opening three new stores and up to 40 new jobs in Northern Ireland over the forthcoming months.  Not only will we be offering a top quality product and service but anyone who joins our team will benefit from our excellent staff training which includes a dedicated core skills trainer and the opportunity to train at our Barista Academies in Dublin and Cork.  Our talented Baristas also have the chance to take part in the Costa Barista of the Year and represent Ireland in the world finals which are held annually at our Roastery in Lambeth.”

Along with expertly handcrafted coffee drinks and expert baristas, the stores will offer a full range of cold drinks and a selection of delicious sandwiches, cakes and pastries as well as free WIFI internet access.  As part of the new store openings customers can pick up a Club Card and register it online to receive 100 bonus points towards their first free coffee.

Oct 1 (Reuters) – Poundland, Europe’s biggest single price value retailer, posted a 15.6 percent rise in underlying year earnings and said it was planning to have over 1,000 stores in Britain.

The group, which currently trades from 458 stores in Britain and Ireland, also said on Tuesday its new financial year had started well with trading ahead of internal expectations.

Value retailers have outperformed the market in the economic downturn as consumers, battling inflation rising faster than wages, have sought to make savings.

“There are some early but encouraging signs of improvement in the economy and in consumer confidence and Poundland is well placed to capitalise on any upturn, “ said Chief Executive Jim McCarthy.

Poundland, owned by private equity firm Warburg Pincus, made underlying earnings before interest, tax, depreciation and amortisation (EBITA) of 45.4 million pounds ($73.5 million) in the year to March 31, up from 39.3 million previously.

Total sales rose 15 percent to 880 million pounds as its offer of over 3,000 products and over 1,000 branded goods from firms such as Cadbury, Heinz, Coca Cola and Kodak, all at a single price point of 1 pound, found favour with consumers.

Poundland opened a net 69 new stores in Britain and Ireland in 2012-13 and plans 50 net new stores in 2013-14, having already opened 30.

“Over time I’m confident that we will have over 1,000 Poundland stores in the UK,” said McCarthy.

He also sees potential for further international expansion after a profitable first full year of trading at the firm’s multi-price format Dealz business in Ireland.

Source: Reuters – October 1st, 2013

3 new retailers are to open in Riverside Retail Park following the recent letting of nearly 30,000 sq.ft. at the scheme.

Maplin the electronics retailer, Sporting Pro and Poundstretcher have all committed to open stores at the Park creating over 75 new jobs for the area.

The rapid expansion of Maplins retail network has taken the store total to in excess of 215 stores in the UK and Ireland, and they sell a unique range of electronics products (comprising more than 15,000 lines in total) for enthusiasts. The broad product categories are Sound & Vision, Computer Products and Hobbies & Electronics and they will be an excellent addition to the retail mix on the Park.

Sporting Pro, the new sports fascia owned by value fashion chain Matalan, is opening in Coleraine as part of its first tranche of stores.

The first ten locations it will open in the next two months. Initially, three stores have opened in Walsall, Coleraine and Harlow and another seven stores are set to open across the UK within the next two months. The retailer aims to open 14 stores this autumn, creating 370 jobs.

Head of Sporting Pro and former JJB chief executive Tom Knight said: “Our first stores are near completion and we’re looking forward to seeing the public’s reaction.”

The shops will feature printed flooring resembling sports courts, pitches and running tracks and stores will be split into categories including team sports, outdoor, racket sports, running and junior and have a strong women’s presence with an “extensive range” of footwear, clothing and sports equipment.

Finally Poundstretcher which is one the UK’s leading discount retailers of products for the home is due to open a new store in November. The discounter has a network of more than 400 retail stores across Britain which stock a wide range of great value homewares, including kitchenwares,quilts and pillows, bedding, bathroom products, home decorations, furniture, electric goods, beds, luggage, pet care products, children’s toys and much more.

Commenting on these latest additions Mark Thallon, Retail Partner at the scheme letting agents TDK commented “we are delighted to welcome Maplin, Sporting Pro and Poundstretcher to Riverside Retail Park, Coleraine and we believe these additional retailer will make the Park an even more attractive location for shoppers. We have worked hard over the past 24 months to target retailers for the scheme that we believe compliment the town and provide the offer that our shoppers want. These new names in addition to the openings last year of Frankie & Bennys and Costa Coffee firmly establish Riverside Retail Park as one of the premier retail locations in Northern Ireland.

We are also at an advanced stage of discussions with an occupier for the last remaining unit and hopefully after this concludes we will be able to put up the fully let signs which is not something many schemes can boast in the current climate”

Many might think H&M would be satisfied with its UK and Republic of Ireland footprint of more than 200 stores – but country manager Carlos Duarte has plans for high street domination.

Over the next four months alone, the Swedish fast-fashion giant is plotting an additional 15 stores to add to its portfolio of 230.

“The UK is still a very interesting market for us, so we are looking [at locations] all over the country,” explains Duarte.

“Medium-sized cities are very interesting to us since we are in almost all big cities quite strongly.”

New locations to open this autumn include Bangor in Northern Ireland and Perth in Scotland, along with Salisbury, Norwich, Cheltenham and Hammersmith, London.

Despite the push to open stores, H&M isn’t forgetting about its existing UK portfolio, and in addition to openings has an investment fund dedicated to refurbishments – although it does not disclose how much has been set aside.

Its Oxford Circus flagship in London bears the fruits of this strategy, having been revamped in March. The exterior now boasts large screens to showcase its Paris Show Collection, which hit stores at the beginning of the month.

Inside, the unit is unrecognisable. The once low-ceilinged, claustrophobic shop floor, which was so crammed it was a wonder anyone ever managed to find anything, has been transformed into a sleek and airy space. The store has grown from three to six floors, with ceilings realigned and floor space doubled to 40,365 sq ft. The Oxford Circus shop also hosts H&M’s first shoe lounge in the UK, which Duarte says could be rolled out into further stores. “We are going to do something similar, maybe not exactly the same, because you should surprise the customer constantly,” he explains.

“We constantly look to upgrade our older stores. It’s a logical process for a fast-growing company like H&M. We have a lot of stores with similar interiors [to Oxford Circus], but here are also some special elements that we only used in this store due to the unique size and shape of the building.”

H&M’s UK arm grew pre-tax profits by 13.1% to £17.7m in its last financial year to November 30, 2012, with turnover rising 8.2% to £777.6m. The UK’s gross sales over this period accounted for 7.4% of the group’s global total, up from 7.2% in 2011.

H&M has made robust progress in the UK, fuelled by store openings and its growing variety of product ranges for both menswear and womenswear. In the past five years the retailer has grown its share of the clothing market from 1.6% in 2008 to 2.2% in 2013, according to market research company Verdict Research.

Jessica Fioriti, associate retail analyst for Verdict Research, says: “It just goes to show that even though H&M went through a bad spell due to tough trading conditions and poor weather in the first quarter of 2013, it is still growing as a brand and continuing to entice its loyal customers.”

She adds that H&M’s autumn collection is a good range, with outerwear a particular highlight: “H&M has really strong
winter pieces, which I think compete strongly with Zara and undercuts its prices, so I think it is in a really strong position.”

This autumn will witness yet another of H&M’s highly successful designer collaborations, this time with Isabel Marant.

The mens and women’s collections from the French designer will launch in stores nationwide in November.

Another launch for autumn 13 is the Mauritz Archive collection for men, which takes inspiration from the Stockholm outdoor clothing store H&M founder Erling Persson bought in 1968, the source of the M in H&M.

“We are constantly updating our collections,” says Duarte. “We are looking every season, every day, every hour actually, at how to surprise the customer.”

H&M has also started to implement new categories, with its High Street Kensington and Oxford Street stores boasting dedicated homeware sections, which Duarte says have been “very well received”.

He adds that despite attracting a young, price-driven customer base, the chain has a very loyal following in the UK with customers coming back time and time again. In Sweden, H&M has a loyalty card scheme and Duarte hints it could launch one in the UK. “We don’t have a loyalty card yet in the UK,” he says. “We work with a loyalty card already in our home country so we are looking into how to implement this in other markets.”

Even H&M’s peers are expecting the business to prosper, with a department head at one of H&M’s high street competitors telling Drapers she predicts a bright future for the fashion chain.

“The recession has changed the mindset of the customer forever and the value market will continue to grow, so I can see a future for H&M,” she says. “They’ve dropped the ball design-wise in the past year but with a bit of focus it will recover. From a product perspective it’s the fashion-forward design in good fabrics that usually sets it apart, making it seem better quality than it is.”

And it seems Duarte is also optimistic about the season ahead. When asked how he is feeling about autumn 13, the lights flicker on in the store, signalling its opening. “Perfect timing – the future looks bright,” he exclaims.

“Autumn started four weeks ago after the Sale and the collections have been well received.

So we are looking very much into the future and into the autumn season,” he adds with confidence.

Although he cannot reveal any details of the chain’s Christmas plans or campaign, he says: “Because I know what’s coming up and what we are planning, I’m very much looking forward to it personally, as I’m a Christmas lover.”

Source: Drapers 19th September 2013

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