Latest property news – Page 15
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Hammerson 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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Revo 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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Intu 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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Asda 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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Government 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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New 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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New 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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Boohoo 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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New 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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Quiz 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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New 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”.
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Pret a Manger to launch coffee subscription service
Pret a Manger is launching a coffee subscription service as it ramps up its multichannel strategy.
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Ann Summers ponders CVA after ‘toughest year’
Lingerie and sex toys specialist Ann Summers is poised to launch a CVA after suffering increased losses in its latest reported year.
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Next to open beauty stores in former Intu Debenhams branches
Fashion giant Next has signed deals with retail property group Intu to open new-concept beauty halls.
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London and Southeast bounce back as rate of footfall growth jumps fourfold
Retail footfall across the UK jumped 4.1% last week, driven by surges in Greater London and the Southeast.
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Retailers and landlords clash over rent holiday
The biggest lobby groups representing retailers and landlords have become embroiled in a row over rent holidays amid the coronavirus crisis.
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Hotel Chocolat launches ‘drive-to’ outlet store
Hotel Chocolat has launched its first “drive-to” outlet store as part of its efforts to cut food waste and capitalise on changing consumer habits.
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Train companies seek government aid for station retail tenants
Britain’s train companies are lobbying the government to introduce rent cuts and payment holidays for retail tenants at their stations to help them through the coronavirus pandemic.
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Amazon in talks to convert JC Penney stores into fulfilment centres
Amazon is currently negotiating with JC Penney and Sears mall owner Simon Property Group to turn its abandoned department stores into Amazon distribution centres.
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Property sector calls for £1.75bn ‘bounceback’ grant to stave off closures
Five industry trade bodies have called on the government to cover 50% of unpaid rents across the retail, hospitality and leisure sectors in a bid to stave off further closures and job losses.