WH Smith launches £325m bond offering as retailer swings to first-half loss April 29, 2021 WH Smith warned it could breach its covenant tests next year as it revealed it swung to a first-half loss and launched a £325m bond offering. The newsagent chain announced yesterday evening that it was possible that “the group would not meet the conditions of the August 2022 covenant tests”. It posted a loss of [...]
London only UK region to report drop in rent prices over last five years April 28, 2021 The capital is the only region in the UK where rents have fallen over the last five years as Londoners have left the city during the pandemic and fewer young professionals have moved for work. Asking rents in almost two thirds – 65 per cent – of London neighbourhoods are lower than they were five [...]
Food prices drop for first time in four years due to anti-stockpiling measures in 2020 lockdown April 28, 2021 Food prices fell this month for the first time in four years in comparison to last year, when retailers paused discounting to reduce stockpiling at the beginning of the pandemic. Prices fell 0.6 per cent in April, down from a rise of 0.3 per cent in March, marking the first time food prices have been [...]
Home buyer demand doubles property sales to £149bn this year April 27, 2021 A surge in home buyer demand has resulted in £149bn worth of properties being sold so far this year, double the value in the same period in 2020 and 2019. According to the latest research, one in every 50 homes was sold between 1 January and 15 April, up from one in every 100 homes [...]
Asda beats competitors to become fastest growing Big Four supermarket for first time in more than two years April 27, 2021 Asda beat its competitors to become the fastest growing of the biggest UK supermarkets for the first time in more than two years as consumers ventured further for their food shopping. The latest data showed Asda, which was recently sold by US retail giant Walmart to the Issa brothers and TDR Capital, increased its market [...]
Premier Inn owner Whitbread targets £100m in extra cost savings as pandemic decimates profit April 27, 2021 Premier Inn owner Whitbread will cut costs by an additional £100m over the next three years following the impact of the pandemic, which caused the hotel chain to swing to a huge loss. Whitbread said this morning that it will “take actions to ensure that we exit the crisis as a leaner, stronger and more [...]
Waitrose expands Deliveroo partnership to 150 stores, creating 400 jobs April 27, 2021 Waitrose has expanded its partnership with Deliveroo as it aims to ramps up its online delivery capabilities, in a move that will create up to 400 new jobs. The supermarket announced this morning that it will increase the number of Waitrose shops available on the delivery app from 40 to 150, serving around 13m people. [...]
Office landlord IWG says enquiries rebounded to pre-Covid levels in first quarter April 27, 2021 Office space provider IWG said enquiries bounced back to pre-Covid levels in the first quarter as it pushes ahead with its franchising strategy. IWG said the first three months of the year had provided a “clear inflection point, with occupancy stabilising in February and improving in March”. It said it expects the momentum to continue [...]
Westfield unveils updated plans for £1.3bn White City residential scheme April 26, 2021 Westfield has revised its planning application for a £1.3bn residential scheme in White City, adding several hundred new homes to the proposals. The proposed scheme will include up to 1,760 new homes, up from the 1,093 granted planning permission in 2017, and will also involve the construction of a 1.4 acre public space and new [...]
More UK home sellers are getting above asking price than at any time since Brexit vote April 26, 2021 The number of UK properties that sold for more than the original asking price jumped to the highest level in more than six years last month. The latest research showed that 16 per cent of homes sold for more than their initial price tag in March, compared to 11 per cent in February. This is [...]
