Retail
Modella Capital is reportedly close to agreeing a takeover of Flying Tiger Copenhagen, a deal that would add around 900 global stores, including 80 in the UK, to its growing retail portfolio. Flying Tiger, known for low-priced Scandi-style homeware, stationery, toys and gifts, reported turnover of around £600m in 2024 and operates across almost 30 European markets. The potential acquisition would follow Modella’s previous purchases of retailers, including Hobbycraft, Claire’s, The Original Factory Shop and WHSmith’s former high street estate, although the firm remains under scrutiny following administrations and restructuring plans across parts of its portfolio (Retail Gazette, 26 May 2026).
Morrisons is planning to close 100 loss-making Morrisons Daily convenience stores over the coming months, putting hundreds of jobs at risk. The stores were originally acquired through the supermarket’s £190m rescue deal for McColl’s in 2022, and Morrisons said their performance had remained challenged despite efforts to improve trading. The retailer cited rising costs linked to government policy, including increases to the national living wage and employer National Insurance contributions, although it said it still has a wider convenience expansion plan for 2026 and sees scope to open more franchise stores in future (Retail Gazette, 26 May 2026).
Logistics
London Luton Airport has opened a new GXO Logistics-operated consolidation centre in a previously vacant hangar, designed to streamline deliveries from multiple suppliers to more than 50 shops and restaurants across the terminal. The facility will use lower-carbon HVO-powered vehicles to reduce vehicle movements and emissions across the airport campus, while improving the efficiency and resilience of LLA’s retail logistics operations. The project forms part of an £11.5m refurbishment programme to repurpose three former hangars, with the remaining space set to support an easyJet apprenticeship training campus and aircraft engineering and maintenance facilities. The new centre is expected to create up to 30 local jobs, rising to 150 once the wider refurbishment programme is complete (Parcel and Postal Technology International, 28 May 2026).
Sunrise Real Estate has leased its 673,000 sq ft prime logistics asset in Rugby to ID Logistics UK. Acquired in 2022, the asset has been comprehensively refurbished, including an EPC upgrade from D to A, BREEAM ‘Very Good’ certification, CAT A office refurbishment, a new employee wellness area, full building electrification, 18 EV charging spaces and a PV panel-ready roof. Located in the Golden Triangle, the site will operate as a high-performance e-commerce fulfilment centre for a major global online retail customer (Sunrise Real Estate, 28 May 2026).
Office
Anthropic opened a Milan office as part of its continued European expansion, following earlier offices in London, Dublin, Zurich, Paris and Munich. The move is strategically relevant from a technology and AI occupier perspective, although the available reporting did not confirm the office size, address or lease terms (Anthropic, 27 May 2026/Reuters, 28 May 2026).
