Bermondsey Reach: Wittington Investments to snap up Southwark development with 300 flats March 25, 2022 Some 300 apartments are being planned for a site in Southwark that reportedly has a £135m development value. The 1.3 acre site has received planning consent for 312 residential flats and more than 20,000 sq ft of retail and commercial floorspace. Centerbridge and Argon Capital have appointed advisors from CBRE and KALMARS on the sale [...]
Lidl to create 1,200 new warehouse jobs by 2025 for Luton distribution centre March 25, 2022 Lidl will create more than 1,200 new warehouse jobs by the end of 2025 as construction on a new distribution centre nears completion. Construction was started on a new Regional Distribution Centre (RDC) in Luton last year, which boasts 1.2m sq ft. Now, the discount retailer is looking to fill roles at the warehouse. Team [...]
Wickes revenue surges past £1.5bn as DIY chain acknowledges cost of living crunch March 25, 2022 Wickes has reported revenue has hit £1.53bn after rising 14 per cent last year. Like-for-like sales were up 12 per cent on 2020 and 18.6 per cent on 2019, as lockdown shoppers turned to DIY projects. David Wood, chief executive, said the company expected to continue outperforming the market. Wickes was “well-placed to capitalise on [...]
Retail sales drop as Brits return to venues while cost of living crunch looms March 25, 2022 Retail sales volumes fell 0.3 per cent last month as Brits made the most of Covid restrictions abating. Stormy weather also deterred shoppers from making trips to the high street, with Storm Eunice and Storm Dudley causing travel haovc across the country last month. According to the Office for National Statistics (ONS), shoppers bought less [...]
McColl’s boss steps down after six years at the helm amid rescue talks March 24, 2022 The chief of beleaguered convenience store chain McColl’s has quit as the business faces an existential crisis. The chain has been in talks with lenders over emergency cash, as it hopes to find a buyer to secure its future. After three decades with the chain and six years in leadership, Jonathan Miller has quit the [...]
Warhammer maker shares surge as trading ‘in line with expectations’ March 24, 2022 Games Workshop shares skyrocketed after the Warhammer maker said its most recent trading was “in line with expectations”. The wargames manufacturer said trading in the three months to the end of February was as expected. This sent shares up more than six per cent on Thursday afternoon. As a result, the firm announced a dividend [...]
Watchdog says Morrisons takeover could lead to higher fuel prices in more than 100 locations March 24, 2022 The competition watchdog has said Morrisons’ blockbuster private equity takeover could lead to higher fuel prices. Clayton, Dubilier & Rice (CD&R)’s £7bn takeover of the supermarket could lead to higher fuel prices in 121 locations where both firms own forecourts, the regulator said. The Competition and Markets Authority (CMA) said it has concerns about the [...]
Lockdown mattress shoppers deliver revenue growth for Eve Sleep March 24, 2022 Sleep wellness brand Eve Sleep has marked its third year of revenue growth as lockdown drove shoppers online. Group revenue hit £26.6m in 2021, up from £25.2m the year prior, while gross profit stood at £14.7m, slightly higher than the £14.4m in 2020. Cheryl Calverley, CEO of eve Sleep, said: “Delivering a third year of [...]
Next anticipates £10m hit to profit after suspending online sales to Ukraine and Russia March 24, 2022 Fashion retailer Next has lowered its profit guidance by £10m after it stopped online sales in Ukraine and Russia. The high street name also shrunk its sales guidance for the 2022/2023 year by £85m, a two per cent dip. In results published on Thursday, it anticipated its full price sales would rise five per cent [...]
£5bn investment turnover for central London office market since start of 2022 March 23, 2022 Central London’s office market has marked £5bn investment turnover since the start of the year, as confidence in the category returns. Property advisors Knight Frank have revealed a 300 per cent increase in comparison to the first quarter of 2021 when there were transactions worth £1.2bn. There are £5.8bn worth of central London office deals [...]
