Shopping Centres
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Sep- 2019 -18 September
Argent appoints new retail lead for King’s Cross centre
Shopping centre developer Argent, has appointed a James Rayner as it new retail lead for its flagship project, King’s Cross centre. Rayner, formerly Leasing Executive at Capital and Regional, will bring 20 years’ experience in managing and advising on retail assets to the Argent asset team when he joins in…
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16 September
Council investments in shopping centres to top £1bn
Local councils are set to spend £1bn on buying shopping centres by the end of 2020, in a bid to redevelop town centres “depressed” by a wave of store closures. Research from retail property organisation Revo and property and regeneration advisors Lambert Smith Hampton (LSH) has found that local authorities…
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10 September
Unibail-Rodamco-Westfield appoints new MD for UK and Italy
Shopping centre operator Unibail-Rodamco-Westfield (URM) has appointed Scott Parsons as regional managing director for the UK and Italy. Parsons will take up the position on 13 November, reporting to Michel Dessolain, COO of Europe at URW. He will be responsible for the group’s asset portfolio and development projects in the…
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9 September
Footfall drops off in late summer
Footfall continued its decline over the late summer, recording a 1.3% decline for the four week period to 24 August. According to the latest BRC-Springboard Footfall and Vacancies Monitor, the latest decline is compared with 1.6% drop for the same period last year. High street footfall declined by 1.9%, following…
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Aug- 2019 -21 August
Hammerson appoints James Lenton as new CFO
Shopping centre owner Hammerson has appointed James Lenton as the company’s new CFO, and will take the role on 1 October. He will succeed Timon Drakesmith, the current CFO and MD, Premium Outlets, who as announced in May 2019, Drakesmith will step down as an executive director and CFO on…
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15 August
Westfield reports footfall rise in July
Unibail-Rodamco-Westfield, owners of shopping centre chain Westfield has reported a rise in footfall in July, with almost eight million shoppers visiting its London centres in Stratford and White City. Westfield said it was “bucking the trend” in the retail market, as shopping centre footfall continues to fall, dropping by 3.1%…
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8 August
Intu submits plans for £168m face-lift at Lakeside centre
Shopping centre operator Intu has submitted plans to Thurrock Council for a £168m development of its Lakeside centre. The proposal will look to extend the centre north and eastwards creating around 40,000 sqm of retail space, with plans for a new department store and floorspace for shops, cafés and restaurants.…
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6 August
Hammerson appoints new Premium Outlets MD
Shopping centre owner Hammerson has appointed Simon Travis to the role of group investment director managing director of Premium Outlets. In this new position, Travis will oversee Hammerson’s premium outlets division in addition to his existing investment responsibilities. He has spent over 20 years at the group, and has held…
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1 August
Westfield’s UK net rental income down 3.1% amid Brexit ‘uncertainty’
Shopping centre giant Westfield has reported a 3.1% decrease in net rental income for its UK operations, covering the half year period ending 31 July. In the trade update, the landlord conglomerate said vacancy stood at 8.7%, primarily driven by some non-renewals,the impact of retailer bankruptcies, and the delays in…
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Jul- 2019 -31 July
Intu reports 7% drop in rental income amid ‘challenging’ first half
Shopping centre owner Intu has reported a 7.7% decrease in net rental income during a “challenging” first half of the year and said it expects a similar result for the rest of 2019. During the first six months of the year ending 30 June its rental income fell to £205.2m…
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