Property

Retailers ‘mis-using’ CVA rent reductions, say landlords

Real estate association, the British Property Federation (BPF), believe that retailers have been “mis-using” the CVA process to lower the price of rent. Following the recent upsurge in CVAs, the organisation has called on the government to conduct an “urgent review”. The concerns follow the announcement that House of Fraser,…

Read More »

Furniture shop closing down after rent increases by £100,000

Phillip Logan, owner of furniture store Uno in South Belfast has decided to close his shop after facing a rent increase of £100,000. The premises was originally leased for 10 years but Logan has now opted to exercise a five year break clause. Logan has accredited the rise in rent…

Read More »

Hammerson rejects Klépierre takeover bid in ‘less than 24 hours’

French real estate investment fund Klépierre has confirmed its takeover bid of Hammerson was rejected in “less than 24 hours”. In a statement, Klépierre said on 8 March it made a proposal “on a non-adversarial basis” to the Hammerson board with the intention of starting “a constructive dialogue”. The offer…

Read More »

Carpetright shares dive following profit warning

Shares in Carpetright have dropped by more than a quarter following a refreshing profit warning. The group announced that trading conditions in the weeks since 19 January have ‘remained difficult’. Shares fell by 24% in early trading, having fallen by over 60% over the past 12 months. Like-for-like sales have…

Read More »

London Bridge retail brands unveiled in £1bn redevelopment

Network Rail has announced that London Bridge station will play host to a number of retail brands as part of its £1bn redevelopment. Cath Kidston and Hamleys will open their doors at London Bridge station this month, with Mac, Rituals, Ted Baker and The Body Shop all set to join…

Read More »

Planning applications for retail stores falls for ninth consecutive year

Planning applications for new shops have fallen for the ninth year in a row, says platform for peer-to-peer property lending, Lendy. New research by Lendy shows that the number of planning applications for new shops and shopping centres in England are down 55% since the credit crunch to just 6,090…

Read More »

Retail property demand at six-year low

Demand for retail property space fell to its lowest level since 2011 according to new figures from property qualifications body Royal Institution of Chartered Surveyors (RICS). According to the Q4 2017 RICS UK Commercial Property Market Survey demand for retail property fell for the third consecutive quarter, down 22%. Retail…

Read More »

Marks & Spencer closes Neasden distribution centre

Marks & Spencer has ceased operations at its Neasden clothing and home distribution centre, transferring staff to other sites in the M&S network. The group’s new Welham Green warehouse will be fitted out and tested during 2018 and is expected to start operations in the first months of 2019. The…

Read More »