Property
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Feb- 2021 -22 February
BPF names NewRiver CEO as chair of retail board
The British Property Federation (BPF) has appointed Allan Lockhart, CEO at real estate investment trust NewRiver REIT, as chair of its new retail board. The board was created in January to ensure central and regional governments could understand the views of the retail property sector, in turn driving the agenda…
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19 February
NewRiver JV with Bravo Strategies acquires The Moor
NewRiver has announced its joint venture with Bravo Strategies has exchanged contracts to acquire retail estate The Moor from CEP ASI UKPF Nominee 1 Limited and CEP ASI UKPF Nominee 2 Limited, for a total consideration of £41m. The Moor estate, which is located in Sheffield city centre, is close…
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15 February
Government eyes third rent moratorium extension
The government is reportedly drawing up plans to extend the current rent moratorium that bans landlords from being able to pursue commercial tenants for unpaid rent or evict them. According to The Sunday Times, the business department and the Ministry of Housing, Communities and Local Government have been in discussions…
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12 February
Boohoo seeks larger London office following acquisition spree
Online fashion retailer Boohoo is reportedly seeking a larger London office following its recent acquisition spree that saw its purchases of a number of Arcadia brands and the Debenhams brand. According to the Evening Standard, Boohoo is looking to upgrade from its current London office in Euston Tower to a…
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4 February
Retail landlords charged nearly £1bn in rates on empty shops
Retail landlords have handed over almost £1bn to English Councils in business rates since the onset of the pandemic despite the current holiday, research from the Altus Group has found. The government, which has invested more than £280bn in business support during the last year, gave premises in those sectors…
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Jan- 2021 -12 January
Landsec collects only a third of December retail rent
UK landlord Landsec has revealed it has only managed to collect just over a third of the rent owed by retailers during the month of December. In a rent collection update posted by the landlord, Landsec revealed it had received just £5m of the £14m expected from its regional retailers…
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11 January
British Land collects less than half of rent from retailers
Commercial landlord British Land has managed to collect less than half of the rent due from its retail tenants for the latest quarter, as the latest lockdown restrictions keep many businesses closed. In an operational update, British Land revealed that it had received just 46% of expected rent due for…
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Dec- 2020 -22 December
Matalan sells head office for £25m
Matalan has completed the £25m sale of its head office in Knowsley, Liverpool to a company already owned by the retailer’s founder. In a statement the discount retailer said that the sale represents the “planned completion of transactions” set out during the financing activity undertaken in June, following the “significant…
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Nov- 2020 -27 November
Hammerson appoints new COO
Hammerson has announced the appointment of Grégoire Peureux to the newly created role of chief operating officer. Peureux will reportedly join the group executive committee and will focus on the “delivery of strategic initiatives” at a group level. He brings with him more than 17 years of experience in the…
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18 November
British Land profits slump 29% in half-year results
British Land has reported that underlying profit slumped 29.6% to £107m in its latest half-year results, down from £152m the prior year, attributable to the impact of Covid-19 on the retail sector. Simon Carter, incoming CEO of British Land said the results reflected the “challenges” in retail against the backdrop…
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