Oxford Street: This is what the UK’s shopping destination could look like after lockdown March 11, 2021 Oxford Street – the world famous shopping destination that attracts millions of Londoners and tourists every year – is set to look drastically different when the city emerges from the latest coronavirus lockdown. An arts centre, 25 metre artificial hill and play areas in bus lanes are among the ideas that have been floated to [...]
Derwent London reports dip in rental income after ‘unprecedented’ year during pandemic March 11, 2021 Property firm Derwent London this morning reported a dip in net rental income for the year, as the vacancy rate for the London office market doubled during the pandemic. Gross rental income for the landlord hiked 5.8 per cent last year to £202.9m, up from £191.7m in the same period last year. However the impact [...]
Marks & Spencer adds new brands to make clothing offer more relevant March 11, 2021 Marks & Spencer has launched a range of guest fashion brands as part of its attempt to make its clothing business more relevant and to “turbocharge” online growth. The retailer announced today that it has partnered with clothing brands including Hobbs, Joules and White Stuff, which will be marketed under its “Brands at M&S” banner. [...]
In The Style’s AIM listing to value influencer fashion brand at £105m March 10, 2021 Online fast fashion retailer In The Style today raised £11m ahead of its listing on London Stock Exchange’s growth market, valuing the firm at £105m. The firm also raised £49m for the selling shareholders through the share placing, ahead of its admission to AIM on Monday. In The Style was launched in Manchester – like [...]
First Deliveroo backers now have stake worth 431 times original investment March 10, 2021 The investors who piled into Deliveroo at its earliest stages will be rubbing their hands as the takeaway giant prepares for its bumper London listing. The investors who bought into the takeaway back in 2013 will now have a stake worth £646, around 431 times their original investment according to data from MarktoMarket. In September [...]
Next snaps up stake in womenswear brand Reiss for £33m March 10, 2021 High street giant Next has acquired a stake in womenswear retailer Reiss for £33m. The fashion firms this morning announced that Next will purchase a 25 per cent equity stake in Reiss. Warburg Pincus, Reiss’s private equity owner, said the deal values the company at around £200m. As part of the strategic partnership, Reiss will [...]
How Asian stock markets shook off the pandemic March 10, 2021 It seems ancient history now, but 2020 opened with a high degree of optimism for Asian markets. True, valuations were no more than reasonable given the share price gains of the previous twelve months, but conditions appeared favourable and there was a widespread consensus on a global economic recovery and a strong year ahead for [...]
Monzo backer Passion Capital opens doors to retail investors March 10, 2021 One of the earliest backers of fintech favourite Monzo is opening its doors to crowd investors with the launch of its third fund. Passion Capital’s £45m fund will be open to any investors who self-certify as “high net worth” or “sophisticated” and are registered and qualified by the crowdfunding platform Seedrs. It will give retail [...]
Pandemic wipes almost £1bn off Covent Garden landlord Capco’s portfolio March 9, 2021 West End landlord Capital & Counties suffered a sharp drop in its property values last year, wiping almost £1bn of its portfolio. Capco, which owns Covent Garden, reported this morning that its total property value last year was £1.9bn, down from £2.8bn in 2019. The total property value of Covent Garden fell 27 per cent [...]
Marks & Spencer unveils plans to replace retail space with offices at Marble Arch store March 9, 2021 Marks & Spencer (M&S) has unveiled plans to redevelop its Marble Arch store, with some retail space set to be replaced by offices. Under proposals announced this afternoon, M&S said the lower levels of the West End store would remain as retail space offering its food and clothing and home ranges. However, the upper floors [...]