Retail news – Page 7
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News
Cribbs Mall reports ‘hugely successful’ 2023 with 36 leasing transactions
The last year has been “hugely successful” at Cribbs Mall in Bristol with 36 leasing transactions over the 12 months, taking the West Country shopping centre to almost 100% occupancy.
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Scottish Budget brings little cheer for hospitality or housing
Scottish property experts said yesterday’s Scottish Budget provided little help to support struggling retail and hospitality businesses or to address the housing crisis north of the border.
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Lunson Mitchenall strengthens lease advisory team
Independent retail and leisure agency Lunson Mitchenall (LM) has announced the promotion of Nick Klein to head its lease advisory team and the appointment of BNP Paribas’ Mark Capanda as an associate director.
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BNP Paribas REIM acquires 25 Victoria Street offices for £42.5m
BNP Paribas Real Estate Investment Management (REIM) has acquired 25 Victoria Street, a grade-A building in central London, for £42.5m, marking the first UK acquisition of its European Impact Property Fund (EIPF).
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Shaftesbury Capital slims down board as three NEDs leave
Shaftesbury Capital has announced that three non-executive directors (NEDs) will step down at the end of January to slim down as it restructures following the merger of Shaftesbury and Capital & Counties in March.
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Hammerson welcomes 115,000 sq ft of retail openings at Bullring & Grand Central
Hammerson has announced 115,000 sq ft of new retail openings at Bullring & Grand Central in Birmingham after a flurry of new openings late in the year.
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Coplan and Welbeck seek funding partner for £120m residential revival scheme in Exeter
Joint venture partners Coplan Estates and Welbeck CP are seeking a forward-funding partner for the redevelopment of a residential scheme on Exeter’s canal.
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Macquarie Asset Management invests £400m in debt secured against Asda ground leases
Australian banking giant Macquarie Asset Management has partnered with clients to invest £400m in debt secured against Asda supermarket ground leases on behalf of UK retirement-focused financial services specialist Just Group.
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Boots’ 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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Aldi 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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Landsec 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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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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British 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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Frasers 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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Morrisons 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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Canary 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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Divergence 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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MDM 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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Shaftesbury secures £300m refinancing loan
Shaftesbury Capital has secured a £300m unsecured loan with an initial maturity of three years.
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Sainsbury’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.