Latest property news – Page 9
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Tesco raises guidance following 'strong' sales and profit surge
Tesco has raised its full-year profit expectations as boss Ken Murphy said the grocer is “outperforming the market” amid a sales uplift and profit spike.
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Nearly 50 high street stores shuttered per day in 2021
Over 8,700 chain stores have closed their doors across British shopping locations in the first half of this year.
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Super shed numbers surge across UK as online boom sparks expansion
The shift to online shopping during lockdown has driven an explosion in demand for warehouse space, with 15 million sq ft of ‘super sheds’ built across the UK in 2020.
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Department store numbers plunge 83% since collapse of BHS
More than 80% of the UK’s department stores have been lost since the demise of BHS and many former branches still lie empty.
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Marks & Spencer profits to beat expectations following strong trading
Marks & Spencer expects full-year earnings to be better than anticipated after strong trading as its transformation plan bore fruit.
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Exclusive: Boxpark founder pledges to step in to save Croydon redevelopment
Boxpark founder Roger Wade has expressed interest in forming a consortium to save the redevelopment of Croydon after Westfield and Hammerson walked away from the town centre.
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Council left scrambling as landlords walk away from Croydon Westfield dream
Local authority plans to regenerate Croydon have been thrown into chaos after Unibail-Rodamco-Westfield and Hammerson walked away from the Centrale & Whitgift Centre.
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McColl’s considers fresh equity raise to drive Morrisons c-store expansion
Convenience chain and Morrisons wholesale partner McColl’s is exploring an equity raise to drive the expansion of its Morrisons Daily store format.
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Data: ‘Pingdemic’ hits footfall after short-lived ‘freedom day’ boost
Footfall over the month of July was down compared with June due to changeable weather conditions and an increase in the number of people being told to self-isolate.
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Shopfloor staff omitted from government’s daily Covid testing scheme
Retail store staff have not been included in the government’s list of key workers who will become exempt from coronavirus self-isolation rules.
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The Works emerges stronger after ‘intensely challenging year’
Arts and crafts specialist The Works has reported that it is well positioned for the future after navigating the challenges of the pandemic.
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Marks & Spencer braced for cuts to opening hours amid Covid ‘pingdemic’
Marks & Spencer has warned it may be forced to slash opening hours at some of its shops if the number of staff being forced to self-isolate rises further.
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Ocado suffers second major warehouse fire in two years
Ocado has been forced to cancel thousands of orders and apologise to its customers following a fire at its largest warehouse in southeast London.
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Hammerson latest landlord to halt rent concessions
Hammerson has followed the lead of fellow institutional landlord British Land by putting a stop to offering rent concessions to struggling occupants.
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Retailers ‘cautious’ on reopening despite final government guidance
Retailers are remaining cautious about lifting restrictions around face coverings and removing in-store safety measures following the publishing of government guidance around lifting restrictions from July 19.
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Hotel Chocolat profits to beat expectations as sales climb
Specialist retailer Hotel Chocolat’s full-year earnings will exceed expectations after annual sales rose strongly.
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Tina Green receives £50m payout from Topshop administrators
Tina Green has been handed £50m by administrators from the remains of her husband’s Arcadia empire.
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WHSmith to open string of airport tech stores as travel recovery begins
WHSmith has announced that it will open 18 new airport stores under its InMotion fascia.
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Government opens business rates revaluation consultation
The government is seeking input on its plans to increase the regularity of business rates revaluations.
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Broadgate retail offering boosted by Lewis Hamilton-backed vegan restaurant
British Land’s Broadgate site has been given a fresh retail boost with the announcement of four new lettings, including a plant-based burger restaurant backed by Lewis Hamilton.