Retail news – Page 7
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NewsBoots’ US owner considering £7bn London IPO
Boots’ US owner is reportedly considering a £7bn listing on the London Stock Exchange in a renewed effort to shed the business.
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NewsAldi creates national real estate team to power 500-store expansion spree
Aldi has created a new national real estate team as it aims to open 500 new UK stores.
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NewsLandsec unveils new retail operating model
Landsec has unveiled plans to transform its retail operating model, bringing in a number of operations in-house and “evolving” as a retail landlord, Property Week can reveal.
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News
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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NewsBritish Land wins approval for Lakeside Retail Park distribution hub
British Land has been given the green light for plans to bulldoze part of Lakeside Retail Park, Essex, to make way for a £200m multi-storey logistics scheme.
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NewsFrasers Group more than doubles property revenues after spending spree
Frasers Group, the company behind Sports Direct and House of Fraser, increased its profits to £310.2m in the six months to 29 October, from £287.2m the year before, boosted by revenue from the acquisition of shopping centres The Mall in Luton and the Overgate centre in Dundee, plus Coventry Arena.
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NewsMorrisons and M&S broke land use laws to block rival supermarket stores, CMA rules
Marks & Spencer and Morrisons have been reprimanded by the competition regulator for breaking land use laws to block rival supermarkets from opening nearby stores.
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NewsCanary Wharf Group appoints former Crown Estate director as new head of retail
Canary Wharf Group (CWG) has appointed Leanne Catterall from The Crown Estate as its director of retail and hospitality.
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NewsDivergence 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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NewsMDM and Hana secure £90m refinancing for West Midlands retail park
MDM Asset Management and Hana Securities have secured a £90m refinancing deal for Gallagher Shopping Park in Wednesbury in the West Midlands.
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OnlineShaftesbury secures £300m refinancing loan
Shaftesbury Capital has secured a £300m unsecured loan with an initial maturity of three years.
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OnlineSainsbury’s agrees HQ move to The JJ Mack Building
Sainsbury’s has agreed to move its UK head offices to Helical and Ashby Capital’s The JJ Mack Building in Farringdon, London, in the next two years.
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NewsMajestic builds up its property team with the arrival of two new roles
Specialist wine retailer Majestic has created two roles in its property team as it begins to accelerate its expansion plans.
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NewsFormer Selfridges owner Signa Holdings files for insolvency
Signa Holdings, which recently sold its 50% stake in Selfridges, has filed for insolvency citing massive liquidity problems and higher interest expenses.
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NewsBrightbay sells portfolio of 25 Kwik Fit properties for £21m
Brightbay Real Estate Partners is selling a 25-property portfolio used by car maintenance company Kwik Fit across the UK for £21m.
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NewsBoots sale back in play as owner offloads £4.8bn of pension obligations to Legal & General
Boots owner Walgreen Boots Alliance has struck a deal to transfer £4.8bn of pension obligations to Legal & General in a move a leading retail expert said reflected “a major boost” for its plans to sell the high-street chemist chain.
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NewsLazari submits plans for office-led scheme at iconic Fenwick Mayfair store
Property firm Lazari Investments has submitted plans to transform the Fenwick department store in Mayfair into an office and retail development.
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OnlineSavills expands global retail offer with Nash Bond acquisition
Savills UK has acquired Nash Bond, a retail agency and lease consultancy business based in central London, to expand its global retail offer to clients.
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NewsMountain Warehouse targets expansion on the back of record sales
Outdoor retailer Mountain Warehouse has said it aims to open a new store every week in the run-up to Christmas, plus a further 50 branches next year, after posting record half-year sales of £171m.
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NewsLondon retail rents approaching pre-pandemic levels
Retail rents in London’s most popular shopping destinations are approaching pre-pandemic levels as the sector displays resilience in the face of inflation, high interest rates and falling consumer expendable income, according to Cushman & Wakefield’s 2023 ’Main Streets Across the World’ report.
