Latest property news – Page 8
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Number of vacant shops falls for first time since 2018
The overall store vacancy rate across the UK improved in the final quarter of 2021 as the number of vacant stores declined for the first time since the start of 2018.
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Morrisons takeover faces deeper CMA probe over petrol competition concerns
Morrisons’ takeover by US private equity giant Clayton, Dubilier & Rice (CD&R) will face further scrutiny by the competition watchdog amid fears over petrol prices.
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WHSmith shareholders revolt over executive bonuses
WHSmith has been hit by a shareholder revolt over plans to pay a £550,000 bonus to its chief executive Carl Cowling.
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WHSmith Christmas sales slide as retailer eyes travel sales resurgence
WHSmith has recorded a fall in sales over the Christmas trading period but has stressed it does not expect the Omnicron variant to derail its travel sales recovery.
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Tycoon Paphitis urges rates reform as strong Christmas follows annual loss
Theo Paphitis has called on the government to “grasp the business rates nettle” as he gave an update on Christmas trading and Ryman posted its first annual loss in more than two decades of his ownership.
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Footfall slumps in post-Christmas week despite New Year’s Eve uplift
Footfall to retail destinations slumped in the week following Christmas despite an uptick in traffic on New Year’s Eve.
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New Selfridges owners plan to add hotel and apartments to Oxford Street flagship
Selfridges’ new Thai and Austrian joint owners are planning a revamp of its Oxford Street flagship that would include an upmarket hotel and food hall.
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Boxing Day footfall down as Omicron nervousness takes hold
Boxing Day shopper numbers were steeply down on a two-year basis as consumer caution about the spread of the Omicron variant prompted many to stay at home.
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Landsec ups stake in Bluewater as retail values and rents stabilise
Institutional landlord Landsec has upped its stake in shopping centre Bluewater and agreed to sell a share to co-owner M&G as Covid continues to stabilise retail values and rents.
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Exclusive: Majestic Wine quits Calais as Brexit booze rules hammer sales
Majestic Wine is calling time on its business in Calais after Brexit regulations decimated the traditional ‘booze cruise’.
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Jysk sales surge as homewares boom drives further store expansion
Danish furniture and home furnishings chain Jysk has recorded a surge in full-year sales despite lockdown restrictions as the retailer gears up to increase its UK store footprint by half.
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Grocers accused over high fuel prices
Motoring organisation the RAC has attacked retailers such as the big grocers for allegedly failing to pass on lower petrol prices to consumers.
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Selfridges set to be sold to Thailand’s Central Group
Selfridges owners the Weston family have reportedly agreed to sell the department store chain to Thailand’s Central Group, with hopes for the deal to be completed by the end of this year.
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Black Friday footfall drops on high streets for first time as card transactions soar
The latest Black Friday data shows that while footfall fell on high streets for the first time ever, overall card transactions exceeded pre-pandemic totals.
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Black Friday spending expected to soar despite fewer deals
Shoppers are set to splurge this Black Friday, with experts predicting this could be the biggest shopping event in the UK yet despite a lack of deals.
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M&S wins approval for Oxford Street store redevelopment
Marks & Spencer’s plans to rebuild its Oxford Street flagship have received the green light from Westminster City Council.
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House of Fraser fury over Oxford Street closure
House of Fraser owner Frasers Group has reacted angrily after its flagship Oxford Street store was served notice to quit the premises.
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Amazon eyes hundreds of UK c-stores to rival Tesco, Sainsbury’s and Co-op
Amazon has thrown down the gauntlet to Tesco, Sainsbury’s and the Co-op with aggressive plans to launch 260 convenience stores across the UK.
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House of Fraser flagship on Oxford Street to be converted to offices
The famous House of Fraser store on London’s Oxford Street is to become an office-led, mixed-use premises.
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WHSmith to trial Amazon’s Just Walk Out tech as its focuses on international expansion
WHSmith will open its first checkout-free store by the end of the year at an airport in a major US city using Amazon’s Just Walk Out technology.