Retail news – Page 11
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News
Property portfolio valuation dips at Schroder European REIT
Schroder European REIT (SERE), which invests in real estate in European growth cities, has announced a 1.9% fall in the value of its direct property portfolio, to €214.1m (£185.5m), over Q3.
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Savills’ October auction raises more than £36m
Savills raised more than £36m at its 10 October auction, representing a success rate of 70% from sales among 200-plus lots comprising a mixture of residential, commercial and development opportunities across the UK.
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Next agrees £115m takeover of FatFace
Next has agreed a £115.2m deal to takeover clothing and lifestyle brand FatFace.
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Frey to buy URW’s French Riviera shopping centre for £235m
Developer Frey has agreed to purchase the Polygone Riviera open-air shopping centre in Cagnes-sur-Mer from Unibail-Rodamco-Westfield (URW) for €272.3m (£235.2m).
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John Lewis appoints Gafsen as property director
The John Lewis Partnership (JLP) has appointed Martin Gafsen as director of property, taking up the role from 13 November.
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Miniso signs deal to open flagship store at 100 Oxford Street
Lifestyle retailer Miniso has signed a five-year lease for a new flagship store at Lazari’s retail scheme on Oxford Street.
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URW eyes up architects Kohn Pedersen Fox for Croydon centre revival
Retail giant Unibail-Rodamco-Westfield (URW) is in advanced talks with architect’s Kohn Pedersen Fox (KPF) to draw up a masterplan for its Croydon site, with an aim to submit a new masterplan which will include thousands of homes by 2025.
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Savills to market L&G’s The Beacon shopping centre in Eastbourne for £80m
Legal & General Investment Management has appointed Savills to market the freehold of The Beacon shopping centre in Eastbourne with an £80m price tag.
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Deadline set for Body Shop sale with buyer yet to emerge
Brazilian cosmetics group Natura & Co has set a final deadline of 23 October for interested parties to submit offers to buy The Body Shop, with a potential buyer yet to come forward.
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John Lewis says real estate commitment is ‘unwavering’ despite chair’s plan to step down
The John Lewis Partnership has reiterated its “unwavering” commitment to its real estate venture following chair Dame Sharon White’s decision to step down at the end of her term.
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Barnsley Council takes over struggling Alhambra Shopping Centre
Barnsley Metropolitan Borough Council has acquired the leasehold of Alhambra Shopping Centre in Barnsley, which fell into receivership in 2021.
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Fears 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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LXi 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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Allsop 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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Fareham 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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Wilko 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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Government 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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Apple 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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Dr 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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John 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.