Retail news – Page 11
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NewsFears tenant Nationwide is ‘overrented’ lead AEW UK REIT to sell Portsmouth asset
AEW UK REIT has sold a high-street retail asset in Portsmouth because of fears the main tenant, Nationwide Building Society, is “significantly overrented”.
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NewsLXi REIT cheered by ‘green shoots’ despite reporting valuation fall in trading update
LXi REIT pointed to “green shoots emerging” as it reported a fall in the value of its property portfolio from £3.36bn on 31 March to £3.19bn on 30 September.
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NewsAllsop raises more than £102m from September auctions
Auctioneer Allsop raised £65m from the “largest residential auction in a decade” and £37.2m from commercial sales in September this year.
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NewsFareham Council buys shopping centre for £14.25m
Fareham Council has purchased Fareham Shopping Centre and several adjoining properties on West Street from Madone for £14.25m as it moves forward with regeneration of the Hampshire town.
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NewsWilko rescue deals ‘at risk’ as buyers renegotiate rent with landlords
Two rescue deals to save more than 120 Wilko stores are reportedly hanging in the balance as the would-be buyers attempt to renegotiate rent with landlords.
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NewsGovernment announces £1.1bn fund to regenerate 55 towns
The government has announced a £1.1bn levelling-up cash injection to fund long-term development plans for 55 towns across the UK and put “funding in the hands of local people”.
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NewsApple and Tesla visionary to lead Verge Motorcycles’ global store expansion
Electric superbike company Verge Motorcycles has brought in George Blankenship, the man who brought to life Apple and Tesla’s first stores, to lead its global store expansion strategy.
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NewsDr Martens steps into new store on Oxford Street
Footwear brand Dr Martens has chosen London’s Oxford Street for its newest store amid an uptick in activity on London’s premier shopping street.
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NewsJohn Lewis chair to step down at end of term
John Lewis Partnership boss Dame Sharon White, who led the group’s first foray into real estate, is to step down after five years in the top job, making her the firm’s shortest-serving chair.
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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.
