Property
Property covers the real estate developments, leasing activity, and investment trends shaping the physical footprint of UK retail. This section reports on store openings and closures, retail park and shopping centre developments, rent negotiations, and regeneration projects. Retail Sector’s Property coverage provides insight for landlords, developers, and retail executives into how location strategy, market demand, and commercial property trends influence retail performance and long-term growth.
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Apr- 2019 -18 April
Largest store for 25 years opens in Centre:MK
Centre:MK is set to open its largest store in 25 years with the opening of a 75,000 square foot Primark in the former site of BHS. The new store on Silbury Arcade opens a week after Primark opened its largest ever store in Birmingham. The new store at Centre:MK has…
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9 April
Bristol’s Galleries shopping centre on market for discount £32m
The Galleries shopping centre has been put on the market at a discount rate of £32m, after being originally purchased for £50m, for its redevelopment potential by current owners InfraRed Capital. According to reports by Drapers, real estate investment firm, LaSalle Investment Management is set to buy the shopping centre.…
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1 April
Shops, pubs and restaurants to get £500m tax reprieve
Small firms on England’s embattled high streets are set to share in half a billion pounds worth of tax cuts as business rates bills are slashed, real estate adviser Altus Group has said. The government announced a business rates discount scheme for small sized high street properties in England which…
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Mar- 2019 -21 March
Retailers left waiting for rates discounts as deadline approaches
Businesses in England were promised millions of pounds in support by the chancellor last October but, less than two weeks before the start of the new tax year on 1 April, many are still either waiting for discounts worth up to £8,000 or haven’t yet applied. The government announced a…
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1 March
Business rates appeals drop under ‘complicated’ system
Businesses are struggling with the new ‘check challenge appeal’ (CCA) business rates appeals system, according to rating experts at Colliers International, commercial real estate agency and consultancy. New figures released by the government show that in the 21 months between 1 April 2017, when the new system for appealing against…
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Feb- 2019 -15 February
Amazon ‘to launch checkout-free shops’ in London
Online retail giant Amazon has reportedly secured property to open checkout-free stores in London, making it the first openings of the concept outside of America. According to trade publication The Grocer, the sites will compete with food outlets such as Eat and M&S and will be located in areas with…
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11 February
Iceland eyeing Sainsbury’s and Asda stores
Iceland is considering a bid for the Sainsbury’s and Asda stores, which were put on the market after the Competition and Markets Authority (CMA) told the retailers that they must cut their stores in order to obtain regulatory clearance for the proposed merger. The supermarket’s CEO Richard Walker, said that…
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1 February
MPs launch business rates inquiry
The Treasury Committee has launched a new inquiry into business rates to scrutinise how government policy has impacted high street businesses. The committee will examine how business rates policy has changed, including business rates retention, alternatives to property-based taxes, such as the proposed digital services tax. Nicky Morgan MP, chair…
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Jan- 2019 -28 January
Online retail tax could be unlawful under EU rules, Treasury warns
The government has said taxing online giants, like Amazon, through a sales tax could be illegal under EU rules. Under European Union State aid rules it is illegal for EU countries to give financial advantage to some companies and not others in a way which could distort fair competition. The…
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24 January
Man charged after digger smashes through Spar shop front
A Scottish man has been charged after a digger was driven through the shop front of a Spar convenience store in the town of Keith, in Moray. The incident took place at 03:35 last Saturday morning (19 January), throwing debris across the town’s Regent Street. Police said “significant damage” had…
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