Retail news – Page 7
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NewRiver submits application for Essex resi scheme as occupancy hits record high
NewRiver REIT is seeking planning permission to demolish its shopping centre in Grays, Essex and develop a mixed-use scheme with 850-plus homes, which it plans to forward sell.
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Chancellor announces £4.3bn small business rates support package
The chancellor’s Autumn Statement has unveiled a business rates support package worth £4.3bn over the next five years to help high streets and small businesses.
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UK Commercial Property REIT drops Picton merger
UK Commercial Property REIT (UKCM) has ended merger discussions with Picton because its largest shareholder, Phoenix Life, which controls around 43% of UKCM’s share capital, does not support the terms proposed.
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Gove’s decision to block M&S Oxford Street rebuild set for judicial review
The High Court has granted permission for M&S to apply for judicial review over Michael Gove’s decision to block the redevelopment of the high street giant’s Oxford Street store in London.
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Halfords snubs £1.4bn Redde Northgate merger offer
High street bike and car repair giant Halfords has rebuffed a £1.4bn merger approach from van rental firm Redde Northgate.
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Confectionery giant Mars agrees £534m takeover of Hotel Chocolat
Confectionery giant Mars has agreed a £534m deal to take over chocolate manufacturer and retailer Hotel Chocolat.
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Selfridges taken over by Thai co-owner Central Group
The iconic London department store Selfridges has been taken over by co-owner Central Group as former 50% shareholder Signa Group struggles financially.
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Croydon could be set to get the facelift it so desperately needs
The mayor of the largest London borough says it has ‘massive potential to become a world-class destination’.
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CBRE appoints Savill’s Proudley as head of northern retail
CBRE has appointed Savills retail team director Stephen Proudley as an executive director and head of northern retail as it seeks to grow is presence in the region.
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BrewDog boss slams council and developer over ‘delayed’ Durham bar opening
The boss of brewery and pub chain BrewDog has taken aim at Durham County Council and joint venture developer The Arlington Real Estate and Richardson over delays in opening a bar, which he claims have now stretched beyond 12 months.
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Landsec looks to prime retail for new opportunities as it reports £193m loss
Landsec is “looking for opportunities to deploy further capital” with a particular focus on prime retail, chief executive Mark Allan said today after the firm posted a £193m loss for the half year ended 30 September.
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IKEA owner buys Brighton shopping centre for around £150m
The business behind retail giant IKEA is understood to have paid fund manager abrdn £145m for Brighton’s main shopping centre, Churchill Square.
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Freehold industrial lots to take centre stage at BidX1’s next sale
A freehold warehouse building on a site with development potential in Hillsborough, South Yorkshire, with a guide price of £900,000-plus, will be the top-priced lot in online auctioneer BidX1’s 23 November sale.
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Regional REIT reports robust Q3 despite office market headwinds
Regional REIT achieved a high tenant retention rate for Q3, with 73.2% of units up for renewal let to the same tenants at an average 6.2% rise in rental income, its trading update for the quarter said.
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Galliard and City Developments JV buys massive Morden Wharf site
Mixed-use developer Galliard Homes has acquired the 13.8-acre Morden Wharf site in London’s Royal Borough of Greenwich to develop around 1,500 homes, in a joint venture with City Developments Limited (CDL), Property Week can reveal.
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M Core acquires multi-retail centre portfolio for £35m
M Core has completed the acquisition of a multi-retail centre portfolio, comprising eight retail parks and convenience stores, for £35m as part of its expansion drive.
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London Property Alliance urges government to remove VAT from retrofits
The London Property Alliance (LPA) has called on the government to remove VAT for retrofitting projects - one of a raft of measures it said it would like to see introduced in the Autumn Statement.
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UK Commercial Property REIT and Picton in merger talks
UK Commercial Property REIT (UKCM) is in discussions with Picton Property Income regarding a possible all-share merger, which would create a company with net assets of around £1.6bn and a portfolio worth around £2bn.
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Signa’s financial woes could trigger Selfridge sale
The ownership of iconic London department store Selfridges has been plunged into doubt after co-owner Signa Group fell into financial crisis.
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Industry could be on the ‘cusp’ of a serious downturn in demand
There is a sense the industry could be “on the cusp of a serious downturn in demand across the markets”, Gareth Lewis, PwC director, said during a webinar yesterday to launch the firm’s joint report with the Urban Land Institute (ULI) titled ’Emerging Trends in Real Estate Europe’.