Shopping Centres

Mike Ashley vows to pull 17 stores from Intu Properties

Sports Direct owner Mike Ashley has vowed to close all his stores located in Intu shopping centres following a rent row over four House of Fraser stores.    The move will see Ashley shut 17 stores — a mix of Sports Direct, House of Fraser, Flannels, USC and Evans Cycles…

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London Designer Outlet launches store-to-door delivery service

London Designer Outlet (LDO) at Wembley Park has become the first UK shopping centre to offer Dropit, the app-based, store-to-door delivery service. All purchases bought at any of LDO’s 50 outlet stores can be delivered in one drop to customers’ homes, hotels or workplaces at a time and date of…

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British Land records £42m net loss as retail market ‘remains challenging’

British Land has reported a net loss of £42m in the first half of the year, attributed to the “challenging” retail market and has said it aims to reduce its retail portfolio over the next five years. British Land said that it aims to cut its holdings in retail property,…

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Intu gives consortium another extension to consider £2.9bn deal

Intu properties has given the consortium led by John Whittaker a second extension allowing them to consider making a £2.9bn offer. The consortium is made up of Whittaker’s investment firm the Peel Group, Saudi Arabian company the Olayan Group and Canada’s Brookfield Property Group. On 4 October 2018 the consortium…

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Footfall drops for 11th consecutive month

Footfall in October fell by 2% on the previous year, an identical fall to that recorded in October 2017 and a deeper decline than September 2018 when footfall fell by 1.7%. According to the Springboard retail footfall figures, October also marked the 11th month of consecutive footfall decline. However, analysts…

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Intu gives Whittaker-led consortium two week extension to consider takeover bid

Intu properties has given a consortium, led by deputy chairman John Whittaker, a two week extension to make a firm bid or walk away from the £2.9bn deal. On 4 October 2018 a consortium comprising the Peel Group, the Saudi Arabian Olayan Group and the Canadian investor Brookfield Property Group…

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Intu sees property value drop amid ‘challenging’ period for UK retailers

Shopping centre owner Intu, has revealed its property value has dropped by 3% since the 1 July amid a “period that has been particularly challenging for UK retailers”.   The company, which is currently considering a £2.8bn takeover from a consortium led by investment firm owner John Whittaker, announced it…

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Westfield London named UK’s top shopping centre

Westfield London has been named the UK’s best performing shopping centre according to new research. The research by GlobalData also placed Westfield’s Stratford City in second and Bluewater in third. The shopping centres were ranked on performance (footfall, sales, turnover, dwell time), potential (shopper spending and five year forecasts), provision…

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Intu deputy chairman considers takeover bid

John Whittaker, the deputy chairman of Intu, is believed to be considering a £2bn deal to take over the shopping centre developer that owns venues such as Lakeside in Essex and the Trafford Centre in Manchester. Whittaker currently owns 27% of the company and has formed a consortium via his…

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New retail park specialising in ‘bulky goods’ to create 260 jobs

A new retail park in East Kilbride, Scotland specialising in “bulky goods” such as furniture, carpets, DIY, kitchens, bathrooms, furniture, beds and homeware, will create 260 jobs according to its developers. Peel Park is set to cost developers London & Scottish Investments (LSI) £35m stretching across 125,000 sq ft. The…

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