By: Helen Cahill

I report on retail and property for City A.M. I have covered the investigation into BHS and London's housing crisis. You can email me on helen.cahill@cityam.com with tips or commentary.

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Rental prices increased in June – but the market has been cooling off during the start of this year

July 12, 2016

Rents kept increasing in the three months to June, but there are signs that the growth in the rental market slowed in the first half of 2016 as compared to last year. The average London renter now pays £1,575 per month, up 3.9 per cent on last year. Excluding Londoners, UK renters pay an average £773 [...]
June was a muted month for retail sales according to the British Retail Consortium and KPMG

July 12, 2016

Retail sales were as damp as the weather in June as consumers stayed inside and waited for the outcome of the EU referendum. Data from the British Retail Consortium (BRC) and KPMG shows like-for-like sales fell by 0.5 per cent in June compared to the same month last year, with total growth slowing to 0.2 [...]
Aberdeen Fund is looking to sell £150m Oxford Street property to meet post-Brexit redemption requests

July 11, 2016

Aberdeen Asset Management, which froze its property fund last week thanks to investors making hefty withdrawals, is looking to sell a £150m Oxford Street property, City A.M. understands. Aberdeen has appointed CBRE as brokers for the exchange of 355 Oxford Street, according to sources close to the deal. Read more: Asset managers close the gate on £15bn-£20bn funds [...]
Shopping centre investment fell to its lowest level since 2012 during the first half of this year

July 11, 2016

Investment into UK shopping centres fell sharply year-on-year in the first half as uncertainty surrounding the EU referendum troubled the retail sector. Investment transaction volumes in the sector was £1.42bn in the first half – down 27 per cent year-on-year, according to Cushman & Wakefield. The figure represents the lowest investment volume in shopping centres since 2012, as [...]
Austin Reed’s creditors set to shed large sums after high street retailer’s collapse

July 10, 2016

Austin Reed's creditors face big losses due to the collapse of the high street store, accounts from the administrators have revealed. Documents filed in Companies House by the administrators for Austin Reed, Alix Partners, show the company's unsecured creditors will be given £600,000 between them after the collapse of the chain. Read more: Austin Reed employees found out [...]
Gibraltar wants a second EU referendum

July 10, 2016

Gibraltar overwhelmingly voted to stay in the European Union – and now it appears the British overseas territory wants a second referendum because Brits were given a "false prospectus" on what Brexit would be like. Fabian Picardo, Gibraltar's chief minister, told the FT that there should be another vote so that Britain can decide between staying [...]
Retail groups call for chancellor George Osborne to reform business rates to stimulate the UK economy

July 10, 2016

Business organisations have written to Chancellor George Osborne calling on him to "stimulate growth" in the UK by reforming business rates. The letter said the "overall burden of business rates is too high and at tipping point" and calls for Osborne to enact more changes to business taxes. Read more: Osborne to slash corporation tax to below 15 per [...]
Burberry set to score a Brexit win on the weaker pound

July 10, 2016

Luxury clothing brand Burberry is expected to announce better-than-expected results this week due to the fall of sterling since the Brexit vote. Analysts expect the FTSE 100 fashion brand to report a five per cent fall in like-for-like sales on Wednesday, but have adjusted profits estimates due to a weaker pound. On the day before the [...]
Steinhoff readies expected Poundland bid as deadline approaches

July 10, 2016

South African retail giant Steinhoff is gearing up for an expected bid for Poundland this week, with the deadline for a possible £600m bid set for Wednesday. The Bensons for Beds owner first announced in mid-June that it was considering a bid for Poundland "without the consent of Poundland". Poundland's shares jumped over seven per cent [...]
Comparethemarket owner prepares for listing that could value the company at over £2bn

July 10, 2016

The owner of comparison site Comparethemarket is exploring a listing that could value to company at more than £2bn. An exact date for the listing has not been confirmed, but it is thought to be taking place in the first quarter of 2017. Read more: Cost of average car insurance soars to record high BGL group, the online financial [...]

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Why I love hotel restaurants – and two of my favourites

By: Helen Cahill

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