Shopping Centres

Hammerson offloads Value Retail stake for £1.5bn

Hammerson will be disposing of its entire interest in Value Retail – the Bicester Village owner – to Silver Bidco Limited, a Jersey-based company established by affiliates of L Catterton, for £1.5bn to generate cash proceeds of about £600m.   It comes as Hammerson plans to unlock value from 42% from…

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The O2 sales increase 10% in H1

The O2 has revealed that it has seen a 10% increase in sales and a 15.5% uplift in footfall during the first half of the year.  The destination also saw a 15% increase in sales for Outlet Shopping at The O2, bolstered by the recent openings of Castore and All…

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Frasers in talks to acquire Princesshay shopping centre

The Mike Ashley’s Frasers Group is reportedly in talks with Crown Estate to acquire Princesshay shopping centre in Exeter, according to the Times. It is believed that Frasers is to buy a 50% stake in the shopping centre from US-based asset manager Nuveen and is also planning to buy the…

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Derbion to welcome new B&M store in July

Bargain and variety retailer B&M will be opening a 25,503 sq ft store at Derbion on Friday 26 July.  The arrival follows an announcement that Debrion is investing over £5m in three new concept stores for JD, New Look and Ann Summers, with Ann Summers opening its doors last month. …

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British Land sells 50% Meadowhall stake for £360m

British Land has announced that it has sold its 50% stake in the Meadowhall shopping centre in Sheffield. The company has revealed it has sold its stake to Norges Bank Investment Management for £360m. This follows the sale of some ancillary land by the Joint Venture for £7m (British Land…

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Gloucester Quays footfall rises 7% in FY24

Gloucester Quays has revealed a record period of sales and footfall performance up 11% and 7% respectively.  The outlet is also celebrating its 15th anniversary, going from a new destination in the South West when it launched in 2009, to establishing itself as the dominant retail and leisure hub in…

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BRC calls on PCC candidates to ‘get tough’ on retail crime

The British Retail Consortium (BRC) has called on Police and Crime Commissioner (PCC) candidates to commit to three pledges that would support the fight against “spiralling” retail crime ahead of local elections on 2 May. As part of its #GetToughOnRetailCrime campaign, the three pledges are as follows: Make retail crime…

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Cribbs Mall to welcome Sweaty Betty store

Cribbs Mall has announced that Sweaty Betty will be opening a new 1,714 sq ft store at the West Country shopping centre. The activewear retailer’s arrival comes as the shopping centre experienced a bumper 2023, with over 110,000 sq ft of leasing activity that took the occupancy rate to nearly…

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St Johns Shopping Centre store sales spike 32% in February

St Johns Shopping Centre in Liverpool has reported that store sales rose by 32% in February, compared with the previous year.  According to management at the shopping centre, it has outperformed national and regional footfall trends, as total footfall rose 5.3% last month – ahead of the national average of…

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Hammerson rental income jumps 6% amid footfall boost

Hammerson has reported a 6% increase in like-for-like gross rental income following a record year of leasing with 306 deals. As a result, Hammerson also saw a 11% increase in its adjusted earnings growth to £116m. Footfall across its retail locations was also up 3% with LFL sales in the…

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