Property
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Oct- 2020 -19 October
Landsec to dispose of retail parks
Landsec has unveiled its plans to dispose of its retail parks where there is “little or no competitive advantage”, in a newly-announced restructuring of the group’s portfolio. It comes as the property group said that whilst the retail sector is “facing clear structural challenges as a result of the emergence…
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13 October
UK Flooring Direct continues ‘rapid’ expansion
UK Flooring Direct has opened a new warehouse and offices following the continued positive performance of the business throughout lockdown. The online flooring retailer announced it has moved to a 54,000 sq ft unit on Prologis Park in Coventry. The relocation is part of the firm’s plan to see 70…
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9 October
British Land welcomes ‘encouraging’ rent collections in latest quarter
British Land has welcomed “encouraging” rent collection since lockdown, with 69% of rent collections received on its September quarter day. The rent collected comprises 91% of office rent and 50% of retail rent, compared to the collection rate of 36% for retail reported in the week after the June quarter…
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May- 2020 -28 May
British Land sees over £1bn wiped off its property value
British land has seen over £1bn wiped off the value of its portfolio which it has attributed to a shift in online shopping that has been accelerated by the coronavirus pandemic. The value of its portfolio, which includes prime central London properties, fell by over 10% from £12.3bn to £11.2bn…
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Jan- 2020 -20 January
Intu seeks £1bn of emergency funds
Intu has announced it will seek to raise equity in its efforts to fix its balance sheet. The commercial real estate giant said it was a “number one priority” to make progress in its strategy to fix the balance sheet, which included targeting an equity raise alongside its full year…
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Nov- 2019 -5 November
Hammerson appoints new non-executive director
Hammerson has announced the appointment of Méka Brunel as its new non-executive director. Brunel is currently chief executive of Gecina, a Paris-based retail estate investment trust that owns almost €20bn (£17.2bn) in office and residential assets. Her career in retail estate began in construction, where she delivered major residential and…
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Sep- 2019 -9 September
H&M battles with landlords over rents
Fashion retailer H&M is battling with landlords over rent reductions, which could potentially see property owners bear the cost of the rising number of returned clothes. According to a report from The Times, the retailer is pushing for “total occupational deals” where it discusses with landlords a sum linked to…
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Jul- 2019 -12 July
Vans to move into former Miss Selfridge flagship site
Footwear brand Vans have signed a leased to takeover the site previously occupied by Miss Selfridge. Located in Oxford Street, London, Arcadia will remain the landlords of the site. Miss Selfridge will be moving into the basement of Topshop next door. In June, a CVA was approved for Arcadia Group…
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Jun- 2019 -17 June
20,000 shops gone from high street since 2010
Since 2010 more than 20,000 shops have “disappeared” from high streets and the communities that they once served, according to the real estate advisor, Altus Group. Analysis of official government data by Altus Group revealed that between 2010 and 2019, 20,143 shops in England and Wales – liable for business…
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13 June
Businesses rates to better reflect property value under new law
Business rates payers in England will have bills that more accurately reflect current property values under new legislation introduced by ministers yesterday (12 June 2019). Property revaluations will increase to every three years, from the current five years, and the next revaluation will be brought forward a year from 2022…
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