Shopping Centres

Unibail-Rodamco-Westfield posts 14.5% profit rise after Westfield acquisition

Unibail-Rodamco-Westfield has reported a 14.5% jump in H1 profits boosted by its recently acquired Westfield shopping centres. Europe’s largest property firm finalised the acquisition of Australian shopping mall giant Westfield in early June which includes both Westfield London and Westfield Stratford in the UK. The firm said profits in the…

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Marlowes Shopping Centre unveils first stages of new development plans

The Marlowes Shopping Centre in Hemel Hempstead is currently undergoing extensive refurbishments to improve its family facilities and invest in the local area. Last year the shopping centre made a commitment to the local community to provide updated facilities, enhancing Hemel shoppers’ experience as part of a wider investment in…

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Intu issues rental growth warning, CEO to leave

Intu Properties has warned of lower rental income growth for the full year and also announced that CEO David Fischel is to step down. In its half-year results for the period ending 30 June Intu reported like-for-like net rental income rose by 1.3% at the lower end of its previous…

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Hammerson shares rise as plans to sell £1.1bn of retail parks and cut board revealed

Shopping centre and retail park giant, Hammerson, has announced plans to reduce the size of its board and sell off £1.1bn in retail parks. The announcement, which comes just after the company sold parks in Bristol and Kirkaldy for £164m, said the company was planning to focus on “flagship retail…

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Retail centre ‘to rival Bicester Village’ planned for The O2

Crosstree Retail Estate Partners and AEG Europe have announced a new 85-store retail centre to rival Bicester Village will open at London’s The O2 in October. The 210,000 sq ft Icon Outlet will bring retail to The O2 for the first time since it changed from the Millennium Dome in…

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Build-A-Bear Workshop ‘pay your age’ offer leads to ‘riots’

A ‘pay your age’ offer at Build-A-Bear Workshop has lead to “riots” at stores across the UK and America. The offer allowed customers to purchase bears worth in excess of £45 for the same price as their child’s age. Stores across the UK including those in Sheffield, Birmingham and Telford…

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Birmingham’s Selly Oak Shopping Park acquired by investors for £94m

Selly Oak Shopping Park in Birmingham, home to a Sainsbury’s, Marks & Spencer, Nando’s and Superdrug, has been sold to a real estate investor for £94m. The Harvest Partnership, formed by Landsec and Sainsbury’s, sold the property to M&G Real Estate and Landsec, which will obtain 50% of the proceeds.…

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Smaller shopping centres worst hit by closures

Smaller shopping centres were the worst affected by the number of store closures last year, a new study has shown. Data compiled by retail and leisure researchers, the Local Data Company, showed shopping centres which were given a LDC Health Index Score ranking of 300 or lower saw vacancy rates…

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Northwich shopping centre faces demolition for new multi-million pound project

The Weaver Square area of Northwich,Cheshire West and Chester which includes a significant shopping centre, will be demolished and replaced by a multi-million pound masterplan. A partnership between Cheshire West and Chester Council and Public Sector PLC, PSP Cheshire West and Chester LLP, are managing the project on behalf of…

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Intu Chapelfield shopping centre gives shoppers space-hoppers

Intu Chapelfield in Norwich is trialing the use of space-hoppers for visitors this week as it hopes to encourage more footfall. The ‘Happy S-hopping’ initiative aims to appeal to shoppers’ childish side, with research by Intu showing that 63% of adults still get the same thrill from playing childhood games…

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