Latest news with #NewRiverRetail
BBC News
03-06-2025
- Business
- BBC News
Abbey Centre: Forestside owners buy Abbey Centre for £59m
The owners of the Forestside shopping centre in south Belfast have bought the Abbey Centre in Newtownabbey for just under £ buyers are the Herbert Group which is owned by Belfast couple Michael and Lesley year, they also bought the Bloomfield Shopping Centre and retail park in Bangor for £ Abbey Centre was sold by New River Retail, a London-based investment trust. Allan Lockhart, the Chief Executive of New River Retail said the company had transformed the Abbey Centre into "one of the most successful shopping centres in the region."He added that the deal "also demonstrates the continuing improvement in investor demand for UK shopping centres".The Herbert's built up the UK's largest KFC franchise over 40 years, before selling the chain in have reinvested the proceeds into commercial property where they had already significant interests.
Daily Record
22-04-2025
- Business
- Daily Record
Clothing giant Next looks set to be given green light for Dumfries return
A planning hurdle preventing the firm from setting up shop at Cuckoo Bridge Retail Park could be removed next week. Clothing giant Next looks set to be given the green light to return to Dumfries. A planning hurdle preventing it from setting up shop at Cuckoo Bridge Retail Park could be removed next week. And the £2million investment could result in more than 30 jobs being created. The firm has long harboured ambitions to have a store at Cuckoo Bridge, with an attempt to move there in 2007 refused due to a 'non-bulky goods' planning condition, which aims to protect town centre traders. A similar reason was behind the council's refusal in 2017, a move which was twice upheld by the Scottish Government after their original verdict was quashed on appeal. Next closed its shop in the Loreburn Centre in Dumfries town centre in 2018 but later opened a click and collect pod at Cuckoo Bridge. A report for next week's planning applications committee recommends that New River Retail – which owns Cuckoo Bridge – is allowed to alter existing planning restrictions on unit four to allow 'the sale of clothing with ancillary footwear'. Case officer Graham Smith notes that both Cuckoo Bridge and nearby Dumfries Retail Park have mainly been used for the sale of large bulky goods. However, there are now only five such retail outlets between the two sites following the closure of Homebase earlier this year – with supermarket firm Sainsbury's looking to move into that unit. The report notes Next looked at 10 other sites – including the former Debenhams and Original Factory Shop premises in the town centre – but the retailer deemed these to be 'unviable' or 'unsuitable'. And an impact assessment by the clothing firm felt any diversions from town centre retailers would be 'modest and not significantly adverse'. The council appointed an independent external consultant to look at Next's supporting evidence, who felt lifting floor restrictions at Cuckoo Bridge was 'appropriate' due to demand for bulky goods retailers if it could be justified 'that there would be no adverse effect on town centres'. They agreed none of the alternative sites met Next's needs and felt their arrival would be 'improving the overall quality of the retail offer in Dumfries' due to changes in the retail market over the past decade. And they felt it would 'not threaten the vitality and viability of Dumfries town centre' – although if another operator took over the site there was the potential for that to have an adverse impact. The report points out that denying Next the chance to move to Cuckoo Bridge would not necessarily mean they would return to the town centre. It adds: 'Officers would therefore accept that the loss of the bulky goods restriction in this instance has been properly justified and that this development will go some way to addressing a qualitative deficiency in local retail provision without a significant impact on the town centre.' It is claimed the development represents a £2million investment by Next and would take their staffing numbers from the existing four at the click and collect point to around 35. The application is due to be decided by councillors on April 30. Next's bid to add a mezzanine level to the unit is the subject of a separate planning application.
