Retail news – Page 18
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NewsLXi REIT sells St Albans retail park to UK pension fund for £31m
LXi REIT has sold a St Albans retail park to a UK pension fund for £31m, equating to a net initial yield of 4.7%.
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NewsFitness First restructuring plan could send ‘disastrous shockwaves across letting market’
Beleaguered health club firm Fitness First’s restructuring plan to close gyms and cut rents on its remaining sites could be “disastrous” and “send shock waves across the retail and leisure letting market”, according to legal experts.
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NewsApple to open new store at Battersea Power Station
Apple is to open a major new store at Battersea Power Station next to its 500,000 sq ft headquarters at the landmark redevelopment.
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OnlineNet tangible assets slump 15.1% at LXi following Secure Income REIT merger
The value of net tangible assets (NTA) at LXi REIT slumped 15.1% in the year to the end of March to 121.1p per share, compared to 142.6p a year earlier.
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NewsThis week in… 2019
Intu voted against rescue plans from Sir Philip Green for his troubled Arcadia Group, Property Week reported after speaking to sources close to the retail landlord.
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NewsSovereign Centros growth leads to four appointments
Shopping centre developer and asset manager Sovereign Centros has announced four appointments following significant growth in business in the first half of the year.
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OnlineNewRiver outperforms retail market as occupancy recovers to five-year high
Regional shopping centre group NewRiver REIT outperformed the wider retail market in the year to the end of March as the firm claimed the sector’s recovery was now in full swing.
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OnlineOnly industrial and West End offices to see “robust rental growth” in next five years, says IPF
Industrial assets and London’s West End office market will be the only two property sectors to outperform the all- property average during the next five years, according to an International Property Forum (IPF) report.
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NewsSainsbury’s seeks sites for neighbourhood hub format
Supermarket giant Sainsbury’s has opened its 10th store under its neighbourhood hub format and is seeking further sites to roll out the concept.
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NewsLincolnshire Co-op and Wykeland Group snap up Waterside Shopping Centre in Lincoln
Lincolnshire Co-op and developer Wykeland Group have acquired the 130,000 sq ft Waterside Shopping Centre in Lincoln from Tesco Pension Fund for an undisclosed price.
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NewsAuction success rates in first quarter at a three-year-low
Acuitus research shows drop in Q1 success rates despite 20% increase in number of lots brought to auction
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NewsSovereign Centros wins outline approval to revamp Glasgow’s St Enoch centre
Property developer and asset manager Sovereign Centros has secured outline planning approval to redevelop The St Enoch Centre in Glasgow as a mixed-use scheme including offices, cultural space, a hotel and housing.
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NewsAsda to acquire EG Group’s UK petrol stations and stores in £2.27bn merger
Asda Group has acquired business EG Group’s UK and Ireland 350-plus petrol filling stations and 1,000 food-to-go convenience stores in a £2.27bn merger deal.
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NewsPets at Home set to open 40 new stores
Pet care and veterinary services group Pets at Home said it planned to invest in 40 new stores in the medium term, as it announced record sales of £1.4bn for the year to 30 March.
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OnlineCapReg shows improvement but footfall remains below pre-Covid levels
Shopping centre group Capital & Regional saw footfall during the four months to the end of April rise 4.8% compared to 2022, but it remains below pre-pandemic levels.
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NewsManchester City scores new club shop at Arndale
Manchester City has capped off its Premier League title win by unveiling a new club shop opening inside Manchester Arndale shopping centre.
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OnlineGPE boss Courtauld boasts stronger annual performance than Landsec and British Land
Great Portland Estates chief executive Toby Courtauld has claimed a strong set of annual results after the group’s valuation losses were lower than at rivals Landsec and British Land.
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NewsM Core acquires second Southport retail park in space of two weeks
Privately held commercial property portfolio M Core has acquired Ocean Plaza in Southport, one of the North West town’s largest retail and leisure parks.
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OnlineLondonMetric agrees £200m takeover of CT Property Trust
LondonMetric has agreed a deal to buy rival CT Property Trust (CTPT) for £198.6m.
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NewsLCP buys major Southport retail park
LCP, a commercial property and investment firm that is part of M Core, has snapped up Central 12, a large shopping park on the outskirts of Southport and is seeking further acquisitions.
