Hotels & leisure news – Page 6
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News
Zia Lucia signs lease for first restaurant outside London
Italian pizza chain Zia Lucia has signed a lease for its first restaurant outside London as it begins expansion into the rest of the UK.
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DLUHC announces £25m levelling-up funding to support over 70 pubs, theatres and museums
The Department for Levelling Up, Housing and Communities (DLUHC) has announced £25m of levelling-up funding to support over 70 pubs, cinemas and museums across the UK.
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Landsec submits second planning application for £45m Gunwharf Quays investment
Landsec has pushed forward its £45m investment programme in Gunwharf Quays in Portsmouth after submitting its second planning application of the year.
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Waverley Castle Hotel in Scotland snapped up by Leisureplex Hotel Group
Waverley Castle Hotel in Melrose, Scotland, has been sold to Leisureplex Hotel Group in an undisclosed deal.
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Universal Studios buys Bedford site as it plans first UK theme park
Universal Studios has purchased a 480-acre site in Bedford and is exploring plans for its first UK theme park.
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Scottish Budget brings little cheer for hospitality or housing
Scottish property experts said yesterday’s Scottish Budget provided little help to support struggling retail and hospitality businesses or to address the housing crisis north of the border.
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Lunson Mitchenall strengthens lease advisory team
Independent retail and leisure agency Lunson Mitchenall (LM) has announced the promotion of Nick Klein to head its lease advisory team and the appointment of BNP Paribas’ Mark Capanda as an associate director.
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Alternative Income REIT acquires Virgin Active leisure club in London
Alternative Income REIT, which owns a diversified portfolio of UK commercial property assets predominantly let on long leases with index-linked rent reviews, has acquired a Virgin Active leisure club for £5.1m.
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BNP Paribas REIM acquires 25 Victoria Street offices for £42.5m
BNP Paribas Real Estate Investment Management (REIM) has acquired 25 Victoria Street, a grade-A building in central London, for £42.5m, marking the first UK acquisition of its European Impact Property Fund (EIPF).
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Dalata to exceed €600m in hotel revenue for 2023
Dalata Hotel Group, the Irish hotel operator with a growing presence in the UK and continental Europe, said it expects hotel revenue for 2023 to exceed €600m (£517m) compared with €516m (£444m) in 2022.
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Henry Wilson joins Distrkt from Shelley Sandzer
Specialist hospitality and leisure agency Distrkt has appointed former Shelley Sandzer leasing agent Henry Wilson as a director.
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Knight Frank reports UK hotel profits exceed pre-pandemic levels in most markets
UK hotel profits have exceeded pre-pandemic levels in most UK markets this year despite the challenging macro-economic environment, according to Knight Frank.
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C&W predicts valuations will bottom out in Q3 2024
Cushman & Wakefield (C&W) has predicted “a bottoming out for valuations” around Q3 next year, when it says rate hikes will end and cuts will commence, according to its EMEA Outlook 2024 report.
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EG Group agrees to sell over 200 KFC restaurants to Yum!
Forecourt and food service operator EG Group has agreed an undisclosed deal to sell all of its 218 KFC restaurants – half of which are drive-throughs – to Yum! brands’ KFC division.
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Divergence in performance across property types ‘likely to persist in 2024’, CBRE says
Divergence in performance across property types is likely to persist in 2024 and obsolescence, particularly of older office and retail assets, will be a key challenge for the UK real estate market next year, according to CBRE’s UK Real Estate Market Outlook 2024.
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Criterion splashes £135m on Haymarket House for hotel redevelopment project
Criterion Capital has acquired Haymarket House in London’s Piccadilly Circus for a reported £135m.
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Irish cinema group to enter mainland UK with Empire theatres acquisition
Omniplex Cinema Group, Ireland’s largest cinema company, has swooped to acquire five cinemas from Empire Cinemas Group, which collapsed earlier this year.
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Online
Gove calls in proposals for Stratford’s MSG Sphere, but developer says the scheme is dead
Housing secretary Michael Gove has officially called in proposals for the Las Vegas-style Madison Square Garden (MSG) Sphere in Stratford, east London, after mayor of London Sadiq Khan rejected controversial plans for the entertainment venue.
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Online
Saudi’s PIF buys 49% stake in Rocco Forte Hotels for £590m
Saudi Arabia’s sovereign wealth fund is set to buy a 49% stake in luxury hotel group Rocco Forte Hotels for around £590m, according to a report in the Financial Times.
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Michael Gove intervenes on Sadiq Khan’s rejection of the MSG Sphere in Stratford
Housing secretary Michael Gove has ordered a six week pause to determine whether he should have the final say on proposals for the MSG Sphere in Stratford, east London, after mayor of London Sadiq Khan rejected controversial plans for the Las Vegas-style entertainment venue.