Shopping Centres

Liverpool One hails sales performance

Grosvenor has revealed that Liverpool One has “bucked national trends” since the start of 2023, with a 16.5% uplift in sales compared with the same period in 2022. The year-on-year rise outperforms the national picture, with an average increase of 5.2% in sales being recorded across the country according to…

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Hammerson earnings surge 60% amid rental income boost

Shopping centre owner Hammerson has revealed that its FY22 adjusted earnings increased 60% to £105m, boosted by a positive income rental performance. It confirmed that its net rental income increased 29% as it said “occupiers pivot to best-in-class destinations”. This comes despite group portfolio value falling 5% to £5.1bn (2021…

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JD Sports to open new store in Birmingham’s Bullring centre

JD Sports is set to double its presence in Bullring and Grand Central, Birmingham, as it looks to drive customer engagement through events, pop-ups and collaborations. Hammerson, a real estate investment firm, said the expansion is a “clear signal of the destination’s strength as well as a firm commitment to…

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Bon Accord owners placed in administration

The Guernsey-based owners and operators of the Bon Accord shopping centre in Aberdeen, Aberdeen Retail 1 Limited and Aberdeen Retail 2 Limited, have reportedly been placed in administration.  It is reported that the administration has been caused by “unsustainable” cash flow problems stemming from the on-going impact of the Covid-19…

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Battersea Power Station adds further list of brands to portfolio

Battersea Power Station announced that it will be adding more leisure brands, which will be opening in the iconic Grade II-listed building and on Electric Boulevard, central London’s newest pedestrianised high street, from Autumn 2022. Amongst the line-up of new brands announced is Battersea Bookshop from specialist bookseller, Stanfords. The…

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Cheshire Oaks and Swindon designer outlets sold for £600m

LaSalle Investment Management, the global real estate investment manager, has acquired McArthurGlen Designer Outlet Cheshire Oaks and McArthurGlen Designer Outlet Swindon for a total sum of £600m from Nuveen Real Estate. The investment was made through LaSalle’s growing Value-Add Investments business line. However, the assets will continue to be managed…

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Dunelm opens new format store at The Springs Leeds

Dunelm has announced it is set to open a new 18,362 square feet sales store with mezzanine in Leeds after it confirmed a further agreement with The Springs out of town retail and leisure shopping centre. This will be Dunelm’s first new smaller format store in the country and its…

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Redevco acquires Oxford shopping centre for £38.8m

Redevco, one of Europe’s largest privately-owned real estate investment managers, has acquired Templars Square in Oxford for £38.8m from New River.  Templars Square, which lies 2.5 miles (4 kms) south-east of Oxford’s city centre, is a covered mall-based shopping centre with some open-air and street-facing retail units, two car parks…

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Hammerson disposes of Silverburn shopping centre stake

Hammerson has announced the disposal of a number of its non-core assets, including its share in Glasgow’s Silverburn shopping centre. Hammerson said it has agreed the unconditional contract for the sale of Silverburn, a 100,000m2 shopping centre near Glasgow, from 50/50 joint venture partners Hammerson and Canada Pension Plan Investment…

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Dunelm to replace empty Debenhams store in Yorkshire

Dunelm has announced a new opening in Flemingate Centre, East Yorkshire, to replace the former Debenhams department store just before Christmas 2021. Dunelm has taken a 10-year lease on the two-storey site and will begin fitting out the building in the next couple of weeks, with the new store taking…

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