Latest property news – Page 30
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NewsDebenhams faces landlord challenge over rescue plan
One of department store group Debenhams’ landlords is seeking to challenge the retailer’s rescue plan by overturning a legal decision on its CVA.
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NewsArcadia seals £310m loan on Topshop flagship store
Sir Philip Green’s Arcadia has refinanced the £310m loan on its flagship Topshop store on London’s Oxford Street.
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NewsSports Direct blames Harrods for Milton Keynes HoF closure
Sports Direct has blamed Harrods for the closure of its Milton Keynes House of Fraser, which will see the loss of 172 jobs just before Christmas.
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NewsM&S set to downsize biggest flagship stores
Marks & Spencer is to downsize around 20 of its largest stores in expensive city-centre locations as part of its turnaround plan.
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NewsSports Direct puts Lillywhites London lease up for sale
Sports Direct’s lease of the six-floor Lillywhites store on London’s Piccadilly has reportedly been put on the market.
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NewsM&G suspends property fund as Brexit and retail landscape take toll
Property fund M&G has banned all withdrawals, blaming Brexit and the retail downturn for the decision.
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NewsQuiz targets rent reductions in bid to turnaround flagging store estate
Quiz has said it is in discussions with landlords on stores with leases coming up to expiry looking for an average of 30% rent reductions as it battles to turnaround the flagging fortunes of its estate.
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NewsOcado to open ‘mini’ customer fulfilment centre
Ocado has revealed it is opening a sixth customer fulfilment centre in Bristol as part of ongoing growth plans.
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NewsTOFS sales fall but boss heralds CVA for improved profitability
The Original Factory Shop (TOFS) has recorded declines in full-year sales and profits but boss Emma Fox credits the retailer’s CVA for improving profitability.
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NewsBaird Group appoints Savills to spearhead store expansion
Menswear specialist Baird Group has appointed real estate advisor Savills to spearhead the growth of its store portfolio across the UK and Europe.
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NewsIkea profits fall despite sales rise
Ikea’s full-year profits fell despite its online sales soaring 50%.
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NewsRevo names Vivienne King chief executive as Cooke departs
Revo has named Vivienne King as its new chief executive, replacing departing boss Ed Cooke who will be stepping down after 11 years in March.
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NewsIntu sells retail park as disposal programme continues
Institutional landlord Intu has completed the sale of an out-of-town retail park in Northern Ireland to NewRiver, as its chief executive continues his focus on fixing the business’ balance sheet through disposals.
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NewsHammerson sells retail park as disposals programme continues
Institutional landlord Hammerson has sold a Gloucester retail park for £54m to the local authority, as it continues its asset disposal programme in order to balance its books.
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NewsBritish Land retail property portfolio haemorrhages tenth of value
British Land is the latest institutional landlord to suffer as the high street malaise reduced its retail property portfolio values by a tenth.
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NewsWest End to receive £2.9bn ‘rebirth’ fund
London’s Oxford Street and its surrounds are set to receive £2.9bn in additional investment by the end of 2022, which will “catalyse the birth of a new West End”.
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NewsLandsec trumpets new developments despite retail woes
Landsec is pushing ahead with 1 million sq ft of new London property developments as it seeks to offset falling portfolio values bought on by the troubles in the retail sector.
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NewsLidl targets 1,000 stores as pressure grows on big four
German discounter Lidl is eyeing rapid store expansion as it looks to ramp up the pressure further on its big-four supermarket rivals.
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NewsFootfall declines again as autumn rain keeps shoppers away
The number of people visiting bricks-and-mortar stores across the UK fell again in October, according to the latest footfall figures.
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NewsAlibaba ramps up team as it eyes UK high street expansion
Chinese ecommerce giant Alibaba is building up a retail team as it eyes a possible move on to the British high street.