Latest property news – Page 24
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NewsLandsec hails ‘encouraging’ footfall and reinstates dividend despite rents dip
Landsec has hailed “encouraging” levels of footfall in its centres and will reinstate its shareholder dividend from November, despite retail occupants dragging their feet with rents.
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NewsPrimark boss on reopening success: ‘Online can’t compete with our low prices’
Primark’s performance since reopening shows the continued relevance of its low-price, bricks-and-mortar business model that trumps online rivals, bosses believe.
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NewsFace coverings to be mandatory in Scottish shops from next week
The use of face masks or other coverings will become mandatory in shops in Scotland from July 9 as part of the country’s easing of lockdown restrictions.
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NewsPrimark ‘encouraged’ by trade since reopening but profits to plunge
Value fashion giant Primark’s profits will be down by about two thirds this year, but trading in reopened stores has been encouraging.
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NewsCoronavirus drives permanent shift in shopping habits as online grows
Consumers intend to permanently change their shopping behaviour, including purchasing more online, because of the Covid-19 pandemic.
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NewsJohn Lewis chair White warns staff of store closures and job cuts
John Lewis chair Dame Sharon White has told staff that job cuts and store closures are imminent as the business embarks on a post-coronavirus cost-cutting drive.
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NewsLandlords bank on retail recovery despite falling rent collections
In separate updates today, institutional landlords Hammerson and British Land have outlined hopes for a retail recovery despite struggling to recoup rents for the most recent quarter.
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NewsBensons for Beds bought by Alteri in pre-pack deal
Bensons for Beds and stablemate Harveys have fallen into administration, with the former being bought out by previous owners Alteri in a pre-pack deal.
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NewsPensions giant pushes for Intu Trafford Centre sale
A pensions group that took control of the Trafford Centre when owner Intu collapsed on Friday hopes to secure a speedy sale of the trophy mall.
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NewsIntu slumps into administration but confirms centres will stay open
After long-running talks with creditors failed last night, Intu has finally slipped into administration but confirmed its shopping centres would continue to trade for the time being.
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NewsIntu administration looms as financing talks fail
Embattled retail landlord Intu has said it is ‘likely’ to appoint administrators as negotiations with its lenders stall.
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NewsJD Sports buys Go Outdoors back out of administration
JD Sports has bought its subsidiary Go Outdoors back for £56.5m in a bid to renegotiate better rents with landlords after putting the business into administration earlier this week.
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NewsLandlords brace for worst quarterly rents day
Retail landlords are bracing for what could be the worst quarterly rent day ever, when what is paid could be as little as 10% of what is owed.
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NewsCoronavirus: Pubs set to reopen next month as 2m distancing rule relaxed
The government will ditch the two-metre social distancing rule from July 4 as it allows businesses including pubs, restaurants and hairdressers to reopen.
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NewsShoe Zone swings to half-year loss as it closes 20 stores
Shoe Zone has reported a half-year loss and a fall in sales as it unveils plans to reduce the size of its store estate to cut costs.
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NewsSunday trading reform doomed as MPs line up in opposition
Plans to liberalise Sunday trading hours for big stores such as supermarkets look likely to be abandoned in the face of parliamentary opposition.
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NewsIntu puts administrators on standby as rescue talks continue
Troubled retail property group Intu has lined up administrators in case talks with creditors fail.
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NewsBan on high street evictions extended until the autumn
The government has extended its ban on evictions of high street businesses over non-payment of rents until at least the autumn.
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NewsWestfield House of Fraser to become co-working space
The owner of the Westfield London White City shopping centre has set out plans to turn the House of Fraser store there into a co-working space in a bid to create a more mixed-use destination.
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NewsStores to still drive 80% of retail transactions by 2025
Despite the growth in popularity of ecommerce and the effects of the coronavirus lockdown, new research has found that physical stores will still heavily influence retail transactions.