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4 NEWS ... In brief

M&S and Pure Gym sign up at Urban Exchange Marks & Spencer and Pure Gym have signed leases totaling 38,678 sq ft at Town Centre Securities’ Urban Exchange Manchester development, leaving only one unit available. Marks & Spencer has signed a lease for a 19,353-sq ft ground floor unit which will become an outlet store. And 24-hour gym operator Pure Gym has agreed a 15-year lease for 19,326 sq ft on the lower ground floor. All but one unit is now let.

Henderson buys Kent retail warehouse investment Henderson Global Investors, on behalf of its £1.1bn UK Retail Warehouse Fund, has bought Phase I of the Ashford Retail Park in Kent for £14.25m, representing an equivalent yield of 5.4 per cent. The 55,021-sq ft site was purchased from The Local Authorities’ Mutual Investment Trust and as part of the deal LAMIT has taken £4.25m of units in the fund.

Tax free initiative for tourists at Clarks Village Clarks Village outlet centre is helping to pull cash-rich tourists into the West after becoming an official tax-free shopping haven. The initiative, which has been developed for the Somerset area to attract more foreign visitors to the region, will offer all non- EU residents the chance of getting a minimum of 14 per cent tax refunded when they shop at Clarks Village. The new tax-free savings have been made reality following stores within Clarks Village joining Global Blue, a market leader in tax-free shopping.

Construction complete at Westfield Stratford

Westfield Stratford City – the 1.9m sq ft, retail, leisure and business destination and gateway to the Olympic Park – has completed the construction phase on budget and on schedule. This gives its retailers and

other occupiers a six month period to fit out ahead of the scheme’s opening in September.

Work to clear the site for the

scheme started in 2008, with original discussions to build on the site going back to 1998 – way before London was granted the 2012 Olympic Games. Seventy-nine per cent of

space is already committed, with the remaining space in advanced negotiations with retailers and operators.

Keith Whitmore, director

of design and construction at Westfield, said: “We are now in a great position to present stores to retailers, to capture the momentum into launch this September, and of course towards the Olympics next year.” The construction and

development cost for Stratford City is £1.45bn.

Exclusive research by ROI Team has found that more than half of shoppers regularly choose their shopping destination with an eye to the food and beverage (F&B) on offer. Only one in five say they never take F&B into account. The youngest (18 to 24) and

oldest (over 55) shoppers are the ones most likely to take account of the eating and drinking offer in choosing their shopping location – 50 per cent and 49 per cent respectively. One in six of Southern

shoppers say the F&B offer always affects their choice of shopping location, against one in


14 of Northern shoppers. Just over half of men

regularly select their shopping

0% 10% 20% 30% 40% 50%

Always (I like

to make a shopping trip a day out)

Sometimes (It’s good to stop for a coffee)

Not a lot (It’s the shops that matter)


location with a view to the F&B offer; but for female shoppers the proportion is almost two thirds.

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