We know that celebrating success in the west of Scotland, where we live, is usually done through gritted teeth! However, we want to break with that tradition and celebrate the amazing success of the brand-for-less lead retailer, HOME BARGAINS. In this current retail market of ‘fight’, ‘flight’ and insolvency, HOME BARGAINS are strongly powering against the prevailing tide; they are continuing to expand and trade beyond expectations. This is great news for all of us - landlords, owners, retail and development agents alike - because they have the resources and desire [...]
The steady (if not to say spectacular!) growth of Home Bargains continues, showing that the public love brands for less. This family owned business recently announcing turnover up to £2.14 billion with retained profits of £202m and NO debt. This financial strength has allowed them to continue expanding their UK store network beyond 500 stores for the first time. Biggart & Co have assisted helping acquire a mixture of freehold stores, development sites and new leases in towns as varied as Milngavie and St Rollox in Glasgow, Johnstone, East Kilbride, Dundee, Montrose, [...]
'AUDACIOUSLY AMBITIOUS – Reshape the Scottish business economy and the world will follow' We think this core value from a new retailer on our high street in Scotland is brilliant. We all love our well-known brand high street retailers - they are our bread and butter and their consistent presence is needed! But now and again we long for more variety across the cities we work in. The new Scottish Design Exchange is a great example of a retailer breaking the mould and shows that, with a little imagination and well-placed strategic [...]
Home Bargains have announced record turnover, record profits AND confirmed an ongoing requirement for new stores that opened up at the rate of one a week last year in the UK. Exceptional growth. Widely recognised as the “class leader” in their sector, Home Bargains are a real joy to have as a client. If they say they are going to do something, they do it and this means everyone in the property market knows where they stand. Biggart & Co is delighted to confirm recent openings (in a [...]
Aviemore Retail Park has been a huge success, especially working through the economic climate and market challenges we have all been navigating this past 18 – 24 months. The development is now “PC’d” and I’m delighted to say it’s 100% pre-let to Home Bargains, Aldi and Tiso. The “pod units” have also been 100% pre-let to Superdrug, Costa and Speyside Distillers. It was hard work, but this development has ended up will a really attractive mix of retailers that will really add to Aviemore's retail offer. Well done LSI. LSI’s [...]
The UK’s largest independent jeweller opened a further two stores in the Glasgow catchment, taking its Scottish number up to 27. In addition to the good news that this brings to both these shopping centres, the Emma Cameron Foundation benefited from a donation of £1,000 per shop, thanks to the generosity of a great client!
An impressive 44,000 sq/ft freehold Home Bargains store opened in Armagh in early August. This is the largest Home Bargains in Northern Ireland and, in addition to the usual store attractions, has a café and in-store bakery. Armagh is Home Bargains 20th store to open in the province, with several more in the pipeline. We will keep you posted.
T.K. Maxx opened their first store in the Borders this summer. The 10,000 sq/ft unit opened in the former Comet unit, at Hunters Bridge Retail Park, Galashiels. Trade has been brisk and consolidates the view that Gala is the Border town of choice for most mainstream retailers. Success is not as easy for many salmon fishermen in the Borders!. As a guest of Luddon’s, on the famous Junction Pool on the Tweed, with near perfect conditions, I failed miserably to even get a sniff of a salmon... BUT I can [...]
As part of the LSI team, Biggart & Co. are also at the sharp end of the retail development market. LSI are developing out over 500,000 sq/ft of retail space throughout Scotland. Circa 70% of this is now either let or under offer, so huge progress is being made, but each deal is hard fought for.
It has been a fairly wet summer in beautiful Scotland! With a few days away to sunnier climes we still managed some deals in between everyone’s holidays. Doing business at this time of year seems to get increasingly challenging – are we all taking more holidays than before?! Our retail clients T.K. Maxx, Home Bargains and Warren James are still busy expanding their portfolios and have no sign of stopping. Retailers focused on 'brands for less' and those who know how to bring value to the high street are still [...]
Since the last update, Home Bargains have been quietly expanding their store network. Stirling and Londonderry are now open, with others due to open including Armagh, Aviemore, Craigmillar (Edinburgh), Fort William and St Rollox (Glasgow), with several others over the next few months. These will be a mixture of freehold and leasehold stores, ranging from 15,000 sq ft to 40,000+ sq ft. The photo above shows the new 22,500 sqft Home Bargains in Stirling in all its glory!
London & Scottish Developments are making significant progress with projects covering large parts of Scotland. The first of the portfolio of former Tesco sites is now on site in Aviemore (see photo above). Aviemore Retail Park will provide over 50,000 sq ft of new retail space and bar 1,000 sq ft is now either pre-let (Home Bargains and Aldi) or in legals. Muir Constructions are now on site, with handover to the new tenants anticipated in October this year. Planning is anticipated shortly on Paisley, Cowdenbeath, Cupar and Crieff, with [...]
Home Bargains are growing their store network through a variety of types of property acquisitions. These photos show two of the ways that by being flexible and pro-active, Home Bargains manage to acquire sites that allow them to expand into the very best locations. The photo below is a new build store currently under construction in Stirling and the photo at the top of this post shows a unit that was part of an investment purchase in Londonderry. Home Bargains are stripping the unit to its bare bones and rebuilding a flagship store.
Home Bargains Home Bargains have recently opened four new stores: Strabane and Banbridge in Northern Ireland, Chesser Road (Edinburgh) and Musselburgh (Edinburgh). Another Belfast store will be opening at the end of August. Home Bargains remain very active in the market, with further leasehold and freehold deals in the pipeline in both Scotland and Northern Ireland. Please get in touch with Alastair for further details. TK Maxx TK Maxx are expanding as ever in the UK and have recently concluded on a new lease for 10,000 sq ft with an [...]
Warren James recently opened its twentieth Scottish store in Regent Way Shopping Centre, Hamilton. Alastair Biggart is proud to have represented Warren James in Scotland since the earliest days and the twenty-first store, at Glasgow Fort, is coming soon.
We recently helped Home Bargains buy this unit from Apam in Kilmarnock, Scotland.