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Retail news
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NewsJohn Lewis planning £150m sale and leaseback of Waitrose stores
John Lewis Partnership (JLP) is reportedly planning to sell a dozen of its Waitrose stores in a sale-and-leaseback scheme aiming to raise an estimated £150m.
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NewsLegal & General’s prominent Edinburgh development put up for sale
Legal & General (L&G) is seeking offers for the former Debenhams store on Edinburgh’s Princes Street, a former flagship retail site with planning consents for a £50m redevelopment and change of use.
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NewsBPF demands changes to ‘fundamentally unfair’ empty rates relief policy
The British Property Federation (BPF) has called for empty rates relief for shops to be extended from three to 12 months, with the government consultation on the matter set to close today (28 September).
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NewsCrown Estate welcomes four flagship Regent Street stores
The Crown Estate has announced four new global flagship store lettings in Regent Street.
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OnlineBritish Land confident for financial year despite Meta lease surrender for £149m
British Land confirmed it had received a payment of £149m, reportedly equivalent to about seven years’ rent, from social media giant Meta, which surrendered the lease it had agreed for the former’s 1 Triton Square in London’s Regent’s Place.
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NewsFootasylum opens 20,000 sq ft Oxford Street flagship store
Streetwear and sportswear retailer Footasylum opened a 20,000 sq ft London flagship store last week at 73-89 Oxford Street, which was previously occupied by New Look.
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NewsLeisure assets prove popular in Acuitus’ £31m September sale
An Odeon cinema in Hastings was snapped up for £250,000 above its guide price just before the start of Acuitus’s latest auction on 21 September, which raised £31.39m, with 85% of the lots offered sold.
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NewsRetail sales volumes rebound in August
Retail sales volumes lifted by 0.4% in August 2023, partially recovering from a fall of 1.1% in July 2023, new research from the Office for National Statistics (ONS) has found.
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OnlineNTA slumps at Supermarket Income REIT despite soaring rental income
The value of net-tangible assets (NTA) at Supermarket Income REIT slumped 19% in the year to the end of June, the company has revealed in its annual results.
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NewsWaterstones owner poised for The Body Shop takeover
Waterstones owner Elliott Advisers is reportedly working towards a takeover of The Body Shop.
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OnlineCommercial property transactions plummet 73% but retail and leisure offer ‘silver lining’
Commercial property transactions fell 67% in the past six months, while the total value of commercial deals plunged 73% to £3.7bn, research from Sirius Property Finance has revealed.
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OnlineBritish Land upgrades retail park rental growth estimate
British Land has upgraded its forecasts for rental growth in it retail park portfolio from between 2% and 4% to between 3% and 5% in response to demand for space.
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OnlineBritish Land and Norges put £750m price on Meadowhall, despite denying sale plan
British Land and Norway’s sovereign wealth fund Norges are understood to have appointed CBRE to investigate the £750m sale of its Meadowhall shopping centre in Sheffield.
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NewsThe Conran Shop opens new London flagship store in Sloane Square
The Conran Shop has opened a new flagship store in London’s Sloane Square.
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NewsRaven Rose and Stonebrook London merge to form new agency
Matter.London, a specialist agency focusing on retail and leisure acquisitions, has launched following the merger of Raven Rose and Stonebrook London.
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NewsFormer South Wales HQ leads October auction
A landmark former headquarters building converted into a mixed-use development in the former Welsh mining town of Porth will lead Paul Fosh’s next auction on 3 October.
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NewsLidl profits hit by new store openings
Lidl swung to a £75.9m loss in the UK in its financial year to the end of February, from a £41.1m profit in the previous year, as it felt the impact of new store expansion costs, high inflation, increased staff costs and investment to maintain low prices.
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NewsWatling racks up £130m of deals in first quarter since launch
Watling Real Estate, launched at the start of June in a management buyout of the real estate restructuring division of Avison Young, achieved £130m of deals in its traditional core markets and alternative sectors during its first ever quarter.
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NewsEastwood to lead Knight Frank’s retail and leisure leasing division
Knight Frank has appointed Jonathan Eastwood to lead its retail and leisure leasing division.
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OnlinePizza Hut’s UK franchise slams crisis claims and plans growth
The boss of Pizza Hut’s major UK franchisee has hit back at claims that its restaurants are under threat of closure, claiming the firm is surging back to profits in 2023 and is ready to reignite expansion plans.
