Latest property news – Page 17
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NewsBroadgate retail offering boosted by Lewis Hamilton-backed vegan restaurant
British Land’s Broadgate site has been given a fresh retail boost with the announcement of four new lettings, including a plant-based burger restaurant backed by Lewis Hamilton.
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NewsGovernment gives retailers stay of execution with rent moratorium extension
The government has extended the commercial rent moratorium, preventing landlords from evicting tenants for failing to pay rent for another nine months.
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NewsDebenhams targets high street return as owner Boohoo bids to woo beauty brands
Debenhams is plotting a return to the high street under new owner Boohoo as it attempts to strike deals with major beauty brands.
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NewsData: Retail sales grow at strongest rate since Covid crisis hit
Retail sales grew in May at their strongest rate since the coronavirus pandemic hit the UK last March as the reopening of hospitality venues boosted footfall and spend.
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NewsCBI urges government to extend support for businesses struggling to pay rent
The Confederation of British Industry (CBI) has urged the government to extend the moratorium on commercial evictions for businesses below 30% of normal levels.
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NewsB&M profits more than double as sales climb in ‘exceptional’ year
B&M has delivered rocketing full-year profits and a surge in sales as boss Simon Arora says the retailer’s store network and value offer will hold it in good stead for strong trading post-lockdown.
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NewsPandemic leaves retailers with £2.9bn in accumulated rent debt
The moratorium on aggressive debt collection from landlords is set to end next month, meaning thousands of retailers could face legal action as total rent debt is estimated to be £2.9bn.
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NewsEG Group hails strength of foodservice business as first-quarter profits rise
EG Group has hailed the growth of its foodservice business after delivering increased profits in the first quarter.
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NewsJohn Lewis chair Sharon White calls for business rates replacement
John Lewis chair Sharon White has urged chancellor Rishi Sunak to replace the current business rates system with a new land tax to even the playing field between online and bricks-and-mortar retail.
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NewsRetail sales surge in April after non-essential stores reopen
Retail sales volumes rose sharply in April, which reflected the effect of easing coronavirus restrictions and the reopening of all ‘non-essential’ retail.
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NewsFootfall edges up as high street shopper numbers rise
Retail footfall registered a modest week-on-week climb in the week ahead of hospitality reopening, although high streets were the only retail destination that registered growth.
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NewsBurberry hails ‘strong’ full-year results despite sales and profits fall
Burberry has recorded a decline in its full-year sales and profits, but boss Marco Gobbetti hailed the luxury retailer’s resilience as full-price sales drove momentum.
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NewsAsda owners to sell 27 forecourts to smooth competition concerns
Asda’s new owners the Issa brothers have agreed to offload a tranche of EG Group’s petrol forecourts, paving the way for them to formally complete their £6.8bn takeover of the supermarket chain.
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NewsTopshop Oxford Street flagship goes on sale for £420m
The sale of Topshop’s iconic Oxford Street flagship has kicked off, with a portion of the funds from the £420m sale allocated to Arcadia’s pension scheme.
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NewsOne in seven shops now empty as shopping centre vacancies spike
The number of retail vacancies increased across all shopping destinations and regions in the first quarter of 2021.
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NewsWHSmith launches £325m fundraise to open 100 new travel stores
WHSmith has unveiled plans to launch a £325m fundraise as the retailer doubles down on the expansion of its challenged travel division.
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NewsDixons Carphone closes travel arm despite strong group trading
Dixons Carphone plans to close its Dixons Travel business after predicting an insufficient recovery in passenger numbers.
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NewsShopping trips set to drive post-lockdown economic recovery
Britain is primed for “a sharp snap back” in consumer spending as lockdown eases driven by a desire to return to bricks-and-mortar retail.
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NewsIssa brothers’ Asda swoop sparks competition concerns
The Competition and Markets Authority (CMA) has raised competition concerns over the Issa brothers taking over Asda petrol forecourts – but has also opened the door to rubber-stamping the deal.
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NewsUK retail footfall rebounds but pre-Covid comparisons highlight fragile growth
UK retail destinations all experienced a bounce when non-essential retail and some outdoor hospitality reopened, but weak pre-Covid comparisons show how far the industry still has to recover.