All Property Week articles in 20 March 2020
View all stories from this issue.
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News
Jack Wills announces more store closures
Over the last week Jack Wills announced 22 stores will permanently close, bringing total store closures to 33 since their acquisition in August 2019.
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Online
WeWork burns through cash, doesn’t expect to hit 2020 targets with coronavirus pandemic
On Thursday WeWork said it burned through $1.4bn in cash at the end of 2019 and that it doesn’t expect to reach its targets due to the coronavirus pandemic.
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Online
Occupier decision-making in a pandemic
Only two weeks ago, I met with the chief executive of a large London occupier who was looking for new office space in London. He was disappointed by the limited choice of options, surprised by the long lead-in to secure a pre-let and outraged by the increasing rents.
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News
Grosvenor Estate contributes £2.5m to help manage Covid-19
The Grosvenor Estate has given £2.5m to help businesses, families and the most vulnerable affected by Covid -19 and waived rent for 26 charities.
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Online
Honeycomb backs away from deal with Urban Exposure
Pollen Street Capital’s Honeycomb Holdings has told Urban Exposure that it doesn’t want to proceed with its purchase of the AIM-listed lender’s loan book on the terms agreed.
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Online
Legal sector drives central London office occupancy
Law firms dominated central London office occupancy in February, making up 66% of the total space taken, according to data from CBRE.
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Online
ID Manchester developer shortlist cut to four parties as selection process paused
The University of Manchester has whittled its shortlist of development and investment partners for the ID Manchester scheme down to four parties, but has now put the selection process on hold in light of the Covid-19 outbreak.
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Online
Property industry encouraged to donate to NHS through new platform
The property industry can now help support the NHS during the coronavirus pandemic by donating space, logistics support, or medical supplies through the Do Some Good platform.
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Online
Value retailers drive record number of store openings in UK retail parks
Last year saw a record number of new stores open in retail parks, according to new data from Savills.
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Online
Meyer Bergman hires chief investment officer
Meyer Bergman has appointed Josip Kardun as chief investment officer from European real estate manager Multi Corporation.
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Online
Capco suspends share buyback programme
Capco has temporarily suspended its share buyback programme and warned of “disruption to income”.
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Online
Bristol Airport’s Hampton by Hilton hotel sold for £24m
The Ability Group has bought the Hampton by Hilton hotel at Bristol Airport for £24m.
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Online
Uncertain consequences for construction projects can be avoided in future
The government’s new measures to combat coronavirus, announced on Monday evening, plunged the construction industry into confusion.
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Online
Primark withholds £33m in quarterly rent payment
Budget fashion retailer Primark has refused to pay £33m in rent to its landlords adding to the list of retailers negotiating rent terms following the unprecedented circumstances caused by Covid-19.
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Online
Cadogan steps up to offer rent relief to retail and leisure operators
Cadogan will offer 100% rent relief for a three month period to all restaurants, cafes and bars.
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Online
British Land suspends dividend and defers £40m in rents
British Land has suspended its dividend and will defer £40m in rents this quarter, spreading the repayments over six quarters from September 2020 in response to the coronavirus crisis.
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Online
Intu receives 29% of rent due on rent quarter day
Intu has revealed that it received 29% of the rent that was due yesterday on rent quarter day, down from 77% at the same point last year.
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Online
Stenprop refinances loan as Covid-19 hits
Stenprop has refinanced a £28m loan as it prepares its business for the impact of coronavirus.
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Online
Property stocks daily performance: Wednesday 25th March
We look at the performance of the top property company stocks.
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Online
Ringley launches white label co-working platform Busy Living
Property manager Ringley is venturing into commercial proptech by launching a white label flexible office management platform called Busy Living at its new co-working space in Camden.