Latest property news – Page 21
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NewsLondon mayor warns of ‘inevitable’ tighter restrictions across the capital
London mayor Sadiq Khan has said it is almost “inevitable” that the capital will face tightening restrictions from next week as Covid-19 cases continue to grow across the UK.
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NewsPoundland acquires Fultons Foods, ploughs £25m into grocery offer
Poundland has snapped up frozen food retailer Fulton Foods for an undisclosed sum and plans to invest £25m into its grocery offering over the next two years.
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NewsBritish Land hails ‘encouraging’ rent collections for September
Property giant British Land has reported “encouraging” rent collections for September as tenants begin to recover from the impacts of the coronavirus pandemic.
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NewsFootfall increase slowed by rule of six and 10pm curfew
Retail footfall across the UK slumped over the last five weeks as the government’s new restrictions on hospitality took their toll.
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NewsDecathlon plans more UK stores as sales climb
Sporting goods giant Decathlon has reported a rise in annual sales in the UK and plans to open more stores here this year and next.
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NewsWagamama owner The Restaurant Group swings to loss
The owner of high street restaurant chains Wagamama and Frankie & Benny’s has swung to a half-year loss after being “severely impacted” by the coronavirus crisis.
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NewsWarehouse rentals soar as ecommerce continues rapid growth
A record amount of warehouse space was let in the last three months as multichannel and online retailers sought to expand capacity to meet growing ecommerce demand.
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NewsScrapping tax-free shopping for tourists will hit luxury sector
Chancellor Rishi Sunak has announced that the tax-free shopping scheme for non-EU tourists will come to and end on December 31.
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NewsLandlords mull legal action against retailers as rent slumps to new lows
Landlords are considering taking action against “well capitalised” retail businesses refusing to pay rents under the cover of the government’s moratorium, as takings for yesterday’s September quarterly rent day slid to just 12.7%.
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NewsHammerson poaches new chief executive from Canadian real estate group
Institutional landlord Hammerson has announced the appointment of Rita-Rose Gagné as its new chief executive, taking over from David Atkins.
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NewsRevo chief executive warns of £2bn retail rent blackhole
Revo’s chief executive has warned of the consequences of retailers not paying rents, saying landlords are facing a £2bn arrears blackhole that will have knock-on effects across the industry.
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NewsIntu Milton Keynes taken over by Ellandi
Property group Ellandi has been appointed asset manager for Intu’s Milton Keynes shopping centre.
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NewsAsda to pilot convenience format and B&Q shop-in-shops
Asda is to test a new convenience store format and launch B&Q shop-in-shops inside four of its largest superstores.
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NewsGovernment extends commercial evictions ban until the end of 2020
The government has extended its moratorium on commercial tenant evictions until the end of 2020 in a move that will likely further deepen divisions between retailers and landlords.
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NewsNew Look CVA gets green light from landlords saving over 11,000 jobs
New Look has had its company voluntary arrangement (CVA) seeking to move over 400 of its stores on to turnover-based rents approved by creditors, saving over 11,000 jobs.
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NewsNew Look future hangs in balance as property giants reject CVA
Two of New Look’s biggest landlords are poised to vote against its crunch CVA today in a move that will throw the fashion retailer’s survival into doubt.
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NewsBoohoo eyes New Look as crunch CVA vote looms
Boohoo is understood to be planning a swoop on New Look if its CVA is not voted through by landlords this week, with the fashion retailer warning it could collapse without rent cuts.
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NewsNew Look: Fate lies with landlords as sale option shut off
The future of fashion retailer New Look now relies upon landlords after a sale process conducted in tandem with a CVA proposal failed to produce a deal.
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NewsQuiz wins better rental terms following stores administration
Fashion retailer Quiz has won more flexible leases after putting its stores business into administration to conduct a restructuring.
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NewsNew Look requires backing of half of large landlords to pass CVA
Embattled fashion retailer New Look will need to convince at least 10 of its 20 largest landlord creditors to support its CVA or risk “Armageddon”.