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Landlords learn to cash in on pop-up culture

propertyweek.com, 06/08/2010
by propertyweek.com

Landlords are realising the commercial allure of pop-up shops and are increasingly tailoring leases to attract more independent retailers

Aviva Investors, which owns the Triangle shopping centre in Manchester, has shortened its minimum short-term all-inclusive lease from six months to three months.

The rent for pop-up units starts at £150 a week and includes service charges and rates.

On Glasgow’s Ingram Street, G1 Group’s Corinthian Club will open this August after undergoing refurbishment. G1 is looking for a luxury retail brand to take an 800 sq ft pop-up shop within the club, which will feature a cocktail bar, brasserie, nightclub, private dining rooms, meeting and event spaces. It has not disclosed the lease terms.

G1 hopes to attract such brands as Audio Chi, Cath Kidston, and Comme des Garçons, which have opened pop-up stores in Glasgow in the past.

Over the last two years, shopping centres’ perception of pop-up shops has changed from a means to quickly fill a unit in a “meanwhile” capacity to a way to add diversity to its high street range.

Fashion brands FrostFrench, Pop Store, Junk Food and Wildfox opened temporarily in Whiteleys shopping centre in West London at the beginning of the year. East London-based restaurant operator Bistrotheque “popped up” in Burlington Gardens in the West End in 2009 and in June opened in Westfield Stratford for just a few weeks.