Property

West End landlords Shaftesbury and Capco consider £3.5bn merger

The Boards of Shaftesbury PLC and Capital and Counties Properties PLC (Capco) have confirmed they are in advanced discussions regarding a possible  £3.5bn all-share merger of the two companies. Under the proposed terms of the possible merger, Shaftesbury’s shareholders, excluding the Shaftesbury shareholding owned by Capco, will own 53% of…

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Cheshire Oaks and Swindon designer outlets sold for £600m

LaSalle Investment Management, the global real estate investment manager, has acquired McArthurGlen Designer Outlet Cheshire Oaks and McArthurGlen Designer Outlet Swindon for a total sum of £600m from Nuveen Real Estate. The investment was made through LaSalle’s growing Value-Add Investments business line. However, the assets will continue to be managed…

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Landsec launches new lease offering for retail brands

Landsec has launched a new lease offering for retail brands today (20 February), amid the “rapidly evolving needs” of traditional retailers and a rise in demand from digital natives. The new offering is set to provide more flexible lease options for both retail and leisure brands. The new leases range…

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Currys introduces hybrid working policy with new WeWork partnership

Currys has launched a new hybrid working model for all corporate and commercial employees in the UK after signing a new deal with workspace provider WeWork. The deal will see Currys equip its 1,000+ corporate workforce with WeWork All Access passes, enabling them to visit over 50 UK WeWork locations.…

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Eurofund Group launches UK retail arm

Eurofund Group, the international investment and real estate development company has officially launched a UK retail arm. The new UK division will be headed up by Alberto Esguevillas, former development director and country manager at Unibail-Rodamco-Westfield, who has taken the role of CEO UK. He is joined by Mike Rhydderch,…

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Landsec to acquire U and I Group for £190m

Landsec has reached an agreement to acquire urban regeneration group U and I for a total of £190m, at a price of 149p per share. The retail landlord said the move would combine U and I’s front-end development capabilities, placemaking skills and portfolio of core regeneration projects with Landsec’s “development…

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Ikea to open in former Topshop Oxford Street site

A new Ikea store is set to open its doors in the heart of London with a new location at Topshop’s former Oxford Street site.  The new store is planned to open in autumn 2023, and will have a focus on home-furnishing accessories, with a full range available to buy…

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Hammerson rent collection hits 70% in Q4

Hammerson has revealed that rent collection has improved in its latest quarter, with 70% of rent now collected in Q4 to date. This is “significantly” ahead of any quarter since Q1 2020, when the effects of the pandemic were first felt.   The UK continued to be the “strongest performer”, as…

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Landsec rent collection improves in September

Landsec has noted that its latest collection day recorded payment for 85% of the net rent due on 29 September. This was a marked improvement against the 81% collected for the June quarter date on 21 June.  Regional retail paid 83% of rent against the 73% collected in June, whilst…

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Briscombe Retail Park sold for £1.35m

Briscombe Retail Park has announced that it has been sold to a local private property company for £1.35m.  Savills completed the sale on behalf of VCD Asset Management, with the price reflecting a net initial yield of 5.63%. The multi-let retail park comprises 3,847 sq ft of accommodation and is…

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