No longer ‘unloved’: retailers investing more in physical stores, UK data shows

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UK retailers are investing more in bricks and mortar, with shopping centres and food stores leading a revival, according to research,Retailers and property investors are reallocating capital back into physical stores, according to the property group Knight Frank,The switch represents a fillip for high streets and shopping centres after a difficult decade, which culminated in the shutdown of most stores during pandemic lockdowns and an accompanying surge in online shopping,The growth in online retail has fallen back and flatlined at between 26% and 28% of overall retail sales since a peak of 35% in mid-2020,Retail has outperformed all other types of commercial property this year, with 9.

2% returns on investments in the year to September, Knight Frank said,This is ahead of industrial properties, at 9,1% and offices at 3,2%,Shopping centres and food stores are the joint top performers this year, each delivering 10.

2% growth in returns.Shopping centres are now seeking to attract visitors with “experiences” and activities such as zipwires and darts, to complement shops.While large centres tend to do well, smaller, older malls are suffering because retail chains’ preference for fewer larger stores, Knight Frank said.Next year, retail property is forecast to deliver investment returns of 9.5%.

Will Lund, the head of retail capital markets at Knight Frank, said: “With online penetration flatlining and retailers reinvesting in physical space, the narrative around retail has fundamentally changed.We have great confidence that this demand is going to drive a return to decade-high investment volumes in 2026 and we are expecting a busy year.”In November, the chief executive of the commercial property development and investment company Landsec, Mark Allan, said it was prioritising buying more retail assets over the next 12 to 18 months, in a sector that had long been considered “unloved”.Landsec, which owns and manages large shopping centres such as Bluewater in Kent and Trinity Leeds, has sold £295m of offices as it shifts towards retail and residential.The company is in talks to buy the Silverburn shopping centre near Glasgow for £250m early next year.

British Land, another big developer, focuses mainly on London office campuses and retail parks,“Office attendance is accelerating, retailers are expanding out of town, and supply remains very constrained across both markets,” its chief executive, Simon Carter, has said,A number of shopping centres have changed hands this year and supermarkets and other food stores have increased sale-and-leaseback transactions,Knight Frank is managing the sale of Merry Hill near Dudley and expects to sell the West Midlands shopping complex for £300m, with 10 investors bidding,Last month, Frasers Group, the owner of Sports Direct, bought the Braehead shopping centre near Glasgow, one of Scotland’s busiest, from SGS UK Retail in a deal reportedly worth £220m.

Knight Frank estimated that £5,8bn was invested in retail assets in 2025, down 17% from the previous year because of a shortage of properties,Transaction levels rose in the second half if the year, and with pricing strengthening, that momentum is expected to carry into 2026,Charlie Barke, the head of capital markets at Knight Frank, said: “We’ve got fewer willing sellers because people are expecting these assets to start to perform well again,So stock supply to the market is limited for the first time in quite a long time, and now demand for investments exceeds supply in the retail sector.

”Across the country, 13.5% of shops stand empty, the lowest vacancy rate since 2020, with a further drop expected next year.On the high street, £420m of shops were traded in the second half of 2025, up 150% on the first half.Prime centres and regional cities are expected to deliver rental growth of 6.9% this year.

Sam Waterworth, a partner at Knight Frank, said: “Retail has decisively turned a corner with 2025 marking the high street’s rebound,”
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Why my mum’s scotch eggs are my Twixmas essential

The culinary essence of the festive season is a kind of sanctioned chaos. Never mind that, from one angle, Christmas is mostly just rigidly observed collective food traditions and grown adults dying on the hill of whether yorkshire puddings should be served with turkey.I don’t think I ever really feel that warming yuletide rush until I have turned a disparate assemblage of leftovers into what, to the casual observer, looks distinctly like a completely unhinged plate of food. I think most of us will know the sort of thing: there will be ragged hunks of surplus cheese, brine-slicked olives, stray bits of fruit and thick slices of the last of the cola-glazed ham; there will be a splat of cranberry sauce, a wodge of stewed red cabbage, and a dense, sticky slice of breathalyser-troubling Christmas cake. It is, I suppose, what most people think of as a Twixmas picky tea

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Crunchy, tangy and fun: nine summer salad recipes to make this Christmas

The sun is beaming, cicadas are chirping and the air conditioning is on full blast. What better than a fresh salad to sit amid the holiday spread?While beautiful in theory, when it comes down to it, salad is often the bottom of the Christmas food hierarchy, resulting in a slap-dash selection of soggy, underseasoned leaves.The recipes we’ve chosen range in prep time but all offer something special – hot, cold, creamy, tangy – qualities guests may not expect. Some shine as a main dish while others work well as a supporting character to ham, turkey or other festive proteins. A few are also able to be easily assembled upon arrival if you’re not hosting

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No more kitchen martyrs – a guide to sharing the load at Christmas

“Anything I can do to help?” If ever a line was guaranteed to incense the person in charge of cooking for a crowd, it is this one: uttered in seeming innocence by a guest roused by the sound of clattering pans, and who wants to seem polite but in reality hopes the answer is: “No, thank you.” This was drilled out of us from a young age by a mother who firmly believed that those who are serious about helping need not look far to find vegetables to chop or pots to wash up. But for guests who can’t “read” kitchens – or minds, for that matter – there are some principles that might prove helpful at this time of year. And, for hosts who hate delegating, there are a few ways to share the load (and increase the fun) without losing your sanity.The Guardian’s journalism is independent

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A meat-free Christmas: Chantelle Nicholson’s French mushroom pie, caramelised pear pud and more

Christmas for me began as a summertime celebration in New Zealand, with long days and warm evenings. Twenty-plus years on, the wintry cosiness of a UK Christmas has taken hold. Now, my essentials include perfectly crisp roast potatoes with plenty of gravy, and sprouts (non-negotiable). Even my young niece and nephew love them, which is a small victory I’m quietly proud of.Warm gougerès fresh from the oven are a pretty tricky thing to beat

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10 of the best Australian sparkling wines for every budget

If my Spotify Wrapped is anything to go by, I’ve spent a suspicious amount of time with Phil Collins this year. While I’ve been listening to Another Day in Paradise, champagne prices have been climbing, and finding quaffable Australian traditional method sparkling under $30 is becoming more challenging, as local bubbles float up with their imported counterparts.Against all odds, there are still a few affordable, excellent Australian sparkling wines out there, along with many worth splashing out for. While I can’t promise these wines come with the same 80s flair as Phil Collins, they’re bottles I’ll be putting on high rotation over the festive season.1

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Cosmopolitan Christmas: Stosie Madi’s French-African-Lebanese Christmas lunch – recipes

I was born in west Africa, and brought up between there, France and the UK in a French-Lebanese-British family. Unsurprisingly, then, our Christmas lunch was more than a bit diverse: my father always insisted on some British and Lebanese elements, while my mother contributed French dishes and technique; west African produce was also a must, because the house would be full of all nationalities, including our African family. Not only that, but our Christmas would invariably start with a guest list of about 20, and another 20 or so waifs and strays would always then turn up in need of feeding and watering. Today’s dishes were part of our regular seasonal festivities, as good in the sunshine as they are robust enough for a chilly British winter.Lebanese feasts always feature some form of pie, and sambouseks are tiny little ones with various fillings