Latest property news – Page 7
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NewsWHSmith sales soar ahead of pre-pandemic levels as travel recovers
WHSmith has reported sales ahead of pre-pandemic levels for the first time as revenues soared off the back of a strong recovery in travel.
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NewsOxford Street candy stores investigated over tax affairs
Thirty American-style candy stores on London’s Oxford Street are under investigation for allegedly failing to pay £7.9m in business rates.
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NewsHome-working shift threatens ‘permanent scarring’ for city centre trading
The switch to working from home will hit urban retail locations permanently if sustained at present levels, a leading shopper footfall monitor has warned.
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NewsGreggs sales rise with travel back on the menu
Greggs has said that transport locations have recovered most as it continues to see sales rise.
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NewsTesco to rent out office space in stores as working habits shift
Tesco has struck a deal with office rental company IWG to create workspaces in shops as hybrid working persists.
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NewsIkea earmarks €1bn to adapt London stores for ecommerce
Ikea is set to spend €3bn throughout 2023 on adapting its iconic out-of-town big-box stores to double up as ecommerce distribution centres.
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NewsMorrisons sweetens last-ditch McColl’s bid following EG Group swoop
Morrisons has upped its initial offer for convenience chain McColl’s in an eleventh-hour attempt to win the chain ahead of rival bidders EG Group.
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NewsIssa brothers’ EG Group in £12bn merger talks with Couche-Tard
EG Group, the petrol forecourt giant operated by Asda owners the Issa brothers, is reportedly in talks to merge with Canadian c-store titan Couche-Tard.
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NewsWHSmith boss Cowling: ‘We’re confident that travel is back for good’
WHSmith chief executive Carl Cowling has told Retail Week he is sure the leisure travel industry will boom through the summer and beyond – giving his travel stores a boost.
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NewsWHSmith bounces back into black as travel retail rebounds
WHSmith has swung back into profit and insisted that its recovery from the coronavirus pandemic is “well underway”.
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NewsPrimark operating profits soar after store estate fully reopens
Primark has posted a surge in sales and operating profits driven by the reopening of its store estate following Covid-enforced closures.
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NewsIssa brothers’ EG Group to create 32,000 jobs in next five years
EG Group, the petrol station and food retail business owned by the Issa brothers, plans to create 32,000 jobs globally over the next five years.
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NewsNew Landsec leasing strategy seeks to meet ‘rapidly evolving’ needs of retailers
Institutional landlord Landsec has unveiled a new leasing strategy aimed at luring new “digitally native” brands and meeting the “rapidly evolving” needs of traditional retailers.
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NewsMorrisons’ new owner offers to sell petrol stations to ease fuel price fears
The private equity owner of Morrisons has offered to sell several of its petrol stations following concerns from the competition watchdog that the takeover could lead to higher fuel prices.
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NewsMorrisons’ new owner to sell £500m of grocer’s property portfolio
Morrisons’ new owner Clayton Dubilier & Rice (CD&R) has given the green light to sell off a chunk of the supermarket’s property portfolio.
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NewsM&S Marble Arch flagship demolition to be reconsidered by Mayor of London
The Mayor of London will reconsider the decision to approve Marks & Spencer’s planned demolition of its Marble Arch store following a major backlash.
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NewsMorrisons takeover could face deeper CMA probe over fuel price fears
Clayton, Dubilier & Rice’s takeover of grocery giant Morrisons has hit a snag after the Competition and Markets Authority (CMA) raised concerns over the impact the move would have on fuel prices.
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NewsBritish Land and Landsec seek £800m shopping centre swap
UK landlords British Land and Landsec are looking into an £800m asset swap in a bid to revive their respective share prices.
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NewsIkea closes Russia stores and halts sourcing from Belarus
Ikea has closed its stores in Russia and parent company Ingka Group has paused all imports and exports in and out of the country and Belarus in response to Russia’s invasion of Ukraine.
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NewsFormer Morrisons suitor Fortress lines up £5bn bid for petrol forecourt giant
The US private equity giant that failed in a £7bn bid for Morrisons is now setting its sights on petrol forecourts operator Motor Fuel Group (MFG).