The Shard skyscraper wins new letting after poaching fintech firm from the City November 19, 2015 The developers behind the Shard skyscraper at London Bridge have secured another letting after poaching fintech firm Sapphire Systems from the City. The global software solutions firm has agreed to take 15,700 square feet of office space on level nine of the tower, City A.M. can reveal. It is understood to be paying in the [...]
NewRiver Retail shares boosted by record 217 per cent jump in profits November 18, 2015 NewRiver Retail said profits leapt by a record 217 per cent in the first half of the year, boosted by a frenzied acquisition spree that saw the retail and pub landlord’s assets under management hit £1bn for the first time. The company, which owns shopping centres including Regents Court in Leamington Spa, reported pre-tax profits [...]
Property firm Knight Frank launches Tech team to target London’s booming digital sector November 16, 2015 Knight Frank has created a Tech team to tap into growing demand from digital firms looking for office space in the capital. The property advisory company said it has poached industry veteran James Nicholson from rival firm JLL to lead a new central London Tech and Creative team and build the company’s profile in the [...]
Travel caterer SSP wins £500m deal to open 29 outlets at Oslo airport November 16, 2015 Travel catering giant SSP has won a £500m contract to run 29 shops, cafes and restaurants at Oslo Airport Gardermoen in Norway. The FTSE 250 franchise operator, which made its £1bn stock market debut last year, said it has secured a contract spanning five years for retail and seven years for the food and beverage, with [...]
Majestic Wine unveils turnaround to deliver £500m sales by 2019 as profits halve November 16, 2015 Majestic Wine has unveiled a three-year plan targeting over £500m sales by 2019 as part of a shakeup that saw the company buy Naked Wines in April and its founder Rowan Gormley take over as chief executive. The FTSE 250 wine retailer has struggled over the last few years with stiff competition from major supermarkets, [...]
Fewer visitors flock to the high street in October but vacancy rates fall to four-year low November 16, 2015 Fewer shoppers visited the high street in October and flocked to retail parks instead, according to the latest industry figures. High street footfall fell by one per cent year-on-year compared with a 0.6 per cent decline in September the British Retail Consortium (BRC) and Springboard revealed today. In contrast, footfall at retail parks increased 2.6 [...]
Black Friday 2015: A third of British and American retailers say the sales bonanza is unprofitable November 16, 2015 Britain's biggest online shopping fixture Black Friday is dividing the retail industry, with a third of major retailers saying it is unprofitable while the same number believe it provides a major fillip, research by LCP Consulting shows. The business consultancy firm’s annual Omnichannel report released today found that retailers with an established presence both in bricks [...]
Sports Direct in talks to open Lillywhites concessions in House of Fraser November 15, 2015 Sports Direct is reported to be in talks with House of Fraser about introducing concessions of its famous Piccadilly store Lillywhites inside the department store chain. Dave Forsey, the chief executive of the sportswear group, has held early stage talks with House of Fraser boss Nigel Oddy, according to The Sunday Telegraph, which reported that proposals [...]
Discounters Aldi and Lidl pick up the space race left by Big Four supermarkets November 15, 2015 The big four supermarkets may have called an end to the space race. But for Aldi and Lidl the race has just begun, after new figures show the discounters have submitted plans for nearly five times as many stores. The latest data from construction data firm ABI Barbour shows that Aldi has submitted 93 planning [...]
US investment giants Starwood Capital and Apollo vie for control of budget hotelier Travelodge November 15, 2015 A battle is heating up for control of Travelodge after two US investment giants emerged as the frontrunners to buy the budget hotel chain, which is expected to fetch as much as £1.5bn. Property investor Starwood Capital and Apollo Global Management, the private equity firm, are said to be battling it out for control of the company, [...]
