Shopping Centres
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Jul- 2019 -30 July
Centre manager appointed for upcoming Waterloo development
Commercial Developer LCR has appointed Lynne Glover as centre manager for its new development Waterloo.London. She brings over 30 years’ experience in the retail industry, joining from Angel Central Shopping Centre, where she acted as centre manager for nine years. She previously worked for CBRE, Savills, Debenhams and Buro Four.…
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29 July
Hammerson reports £319.8m loss
Shopping centre owner Hammerson has reported a £319.8m loss during the first six months of the year ending 30 June. Hammerson, which owns shopping centres such as London’s Brent Cross and Birmingham’s Bullring, revealed on an adjusted basis profits were down 10.5% to £107.3m. The company also reported a 6.8%…
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17 July
Nine retailers to open on Broadgate development
Nine retailers are set to open stores on the Broadgate development just outside Liverpool Street Station. Chocolatier, Charbonnel et Walker is returning to the area, and clothing retailer Gant is also opening its first ever east London store. The stores will be joined by skincare brands Kiehl’s, Neom and The…
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2 July
Lendlease to launch retail development at Elephant Park
Project management company Lendlease has announced plans for a retail and restaurant development at Elephant Park in south London. The 16 units total 37,000 sq ft and are in two areas, Ash Avenue and New Kent Road and Chatteris Quarter. Ash Avenue will focus mainly on restaurants, backing onto a…
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Jun- 2019 -26 June
New shopping centre to open in old Eurostar terminal
Commercial developer London and Continental Railways (LCR), has announced plans to open a new shopping centre, Waterloo.London based in a former Eurostar terminal. The centre is expected to open in 2021, the 135,000 sq ft development will include 40 retail units, a mezzanine, and public spaces along a new pedestrianised…
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May- 2019 -13 May
Shop vacancy rate rises to highest level in four years
The national town centre vacancy rate rose to 10.2% empty outlets, according to data from the BRC-Springboard Footfall and Vacancies Monitor. This is an increase on the previous quarter’s 9.9% rise and the highest vacancy rate seen since April 2015. In the four weeks from 31 March to 27 April,…
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Apr- 2019 -29 April
Retail rents fall as pressure on sector continues
High street shop prime rents fell by 1% in the first quarter of the year, according to real estate company CBRE’s latest Prime Rent and Yield Monitor. This indicated an acceleration of the falls reported in Q3 (0.4%) and Q4 (0.4%) of 2018. Shopping centre prime rents fell 1.3% over…
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25 April
CMA blocks Sainsbury’s-Asda merger
The Competition and Markets Authority (CMA) has blocked the Sainsbury’s-Asda merger after finding it would lead to “increased prices in stores, online and at many petrol stations across the UK”. The merger was said to be worth around £12bn and would have seen the grocer’s leapfrog Tesco as the country’s…
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18 April
Largest store for 25 years opens in Centre:MK
Centre:MK is set to open its largest store in 25 years with the opening of a 75,000 square foot Primark in the former site of BHS. The new store on Silbury Arcade opens a week after Primark opened its largest ever store in Birmingham. The new store at Centre:MK has…
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18 April
Kuwait-based investors acquire 50% stake of Intu Derby
Intu properties and Cale Street Investments LP, an investment firm backed by the Kuwait Investment Office, London, have announced the establishment of a 50/50 joint venture for the Intu Derby shopping centre. The real estate investment firm will acquire for cash the 50% interest for consideration which values their share…
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