Car dealership Lookers sells Battersea site for £28m March 28, 2022 Car dealership chain Lookers has sold a freehold dealership property in Battersea, south London for £28m. The 95,000 sq ft property was sold with Urban Logistics REIT, with a 20-year lease agreed at an initial rent of £1.25m per year. Lookers CEO Mark Raban said: “We’re pleased to have agreed the selective sale and leaseback [...]
US private equity powerhouse Sycamore Partners makes £250m bid for Ted Baker March 28, 2022 US private equity group Sycamore Partners has reportedly made a formal £250m offer for the fashion chain Ted Baker.
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 [...]
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 [...]
Cost of living squeeze already biting UK economy as experts warn worst is still to come March 24, 2022 The damage the cost of living squeeze is inflicting on UK households is already starting to weigh on the economy as top forecasters warn the worst effects of spiralling living standards are yet to come. A fresh flurry of data released today revealed consumers are slashing spending to alleviate pressure on their finances caused by [...]
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 [...]
Letters: Ocado can stay strong March 23, 2022 [Re: Shoppers spend less at Ocado after offices reopen and Covid measures ease, March 17] Many of the headlines writing off Ocado this week missed the big picture. Far too little attention was paid to a crucial statistic: Ocado’s retail sales in this quarter were 31.7% higher than pre-pandemic levels. Shoppers may be shopping online [...]
Lockdown DIYers push B&Q owner Kingfisher past £1bn profit March 22, 2022 Kingfisher’s sales shot up last year as the B&Q owner became the third UK retailer to exceed £1bn profit. The home improvement behemoth joined retail titans Tesco and Marks & Spencer when it revealed its profits had reached record levels on Tuesday. Lockdown DIYers sent sales past £13bn for the year to 31 January, thanks [...]
Push the boat out on your Irish celebrations with a £1,000 whiskey March 17, 2022 This weekend is the perfect excuse to indulge in some Irish whiskey. But if you’re feeling particularly indulgent, you should get your hands on a bottle of The Craft Irish Whiskey Co.’s new rare release, The Taoscán. The Taoscán is the first whiskey finished in a combination of tawny port and French chestnut barrels. Bottled [...]