A New Look for high street retail? Here’s what matters in the Covid-19 world September 16, 2020 It has been what Sir Alex Ferguson used to call “squeaky bum time” for fashion retailer New Look these past few days. On Monday it was being reported that British Land and Landsec, two of the chain’s biggest landlords, were preparing to vote against the proposed company voluntary arrangement (CVA) which would have switched the [...]
Mipim doubles down on event despite exodus of big names on coronavirus fears February 27, 2020 Property jamboree Mipim today said it would still go ahead in Cannes next month, despite big names such as Lloyds Banking Group, Knight Frank and PGIM dropping out because of the spread of coronavirus. A spokesperson for the real estate event said: “Mipim will open for business on 10 March. “We understand and respect the [...]
Mike Ashley demands landlords link rent to sales November 17, 2019 Retail tycoon Mike Ashley, the founder of Sports Direct, has demanded that new rent deals are tied to sales across his high street empire. Ashley has reportedly asked landlords to agree to turnover rents, where up to 15 per cent of the rent payable is linked to in-store sales. Read more: Sports Direct ends two [...]
City Moves for 14 January – Who’s switching jobs at Commify, Unite Group and Rede Partners? January 14, 2020 Today’s City Moves includes Commify, Unite Group and Rede Partners Commify Business communications firm Commify has announced the appointment of Richard Hanscott as its new chief executive officer (CEO). Richard’s most recent role was CEO of Yell where he joined in 2011, leading a successful transformation of the business to a fully digital. Prior to [...]
The local councils embarking on a shopping centre spending spree February 10, 2020 Bin collections, parking restrictions and filling ever-more-terrifying potholes are what most people associate with local councils. To that list, we might now add retail property speculators. Last year, Councils across the UK doubled down on recent trends and spent some £232.35m buying struggling shopping centres, accounting for some 36 per cent of all shopping centre [...]
Sharp rise in property values for UK’s top shared office space providers January 28, 2019 The value of property owned by the UK’s biggest shared office providers soared by more than a third last year. In a sign of the growing flexible workspace market, the value of the industry’s top ten share office providers’ property jumped 35 per cent to £13.6bn last year. The new data, released by real estate [...]
Focus on Victoria: Once just a train station, this central postcode now has an identity all its own October 25, 2019 There was a time not so long ago when Victoria was a train station, not an area. You could be ‘near Victoria station,’ but not ‘in Victoria’. Happily, it’s now made the transition thanks to an explosion of new bars, shops, offices and restaurants which have put the district firmly on the map. “For many [...]
Bluewater owner Land Securities sees losses almost triple amid retail closures May 14, 2019 Land Securities, the owner of Kent’s Bluewater shopping centre, saw losses almost triple in its latest financial year as it blamed a “challenging year” full of retail closures, but still managed to bump up its dividend. Read more: JP Morgan downgrades shopping centre landlord Intu The figures The retail property giant saw losses before tax [...]
British Land swings to a loss as retail troubles hit property values May 15, 2019 British Land became the latest in a string of property giants to reveal a fall in the value of its assets today, swinging to a loss amid turmoil in the retail sector. The FTSE 100 group, which owns developments such as Broadgate campus in the City of London, reported a £300m loss in the 12 months [...]
City Moves for 14 September 2018 – who’s switching jobs at European Vacation Rentals, CBRE and QualiTest? September 14, 2018 Today’s City Moves cover tourism, property and software. Take a look at these movers and shakers: European Vacation Rentals Henrik Kjellberg, former president at Expedia, has been appointed group chief executive of the European Vacation Rentals business acquired by Platinum Equity from Wyndham Worldwide earlier this year. Henrik has spent more than 20 years working [...]