Latest property news – Page 139
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NewsUK property tax is among highest levels across the world
UK retailers pay a disproportionately high level of tax on property, including onerous business rates, compared with their global counterparts says research commissioned by BRC.
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Temasek Holdings reveals plans to acquire stake in Matahari
Temasek Holdings has revealed plans to acquire a stake in Matahari, operator of Hypermart. Temasek will indirectly buy a 26.1% stake worth $300m (£191.4m) via controlling shareholder Multipolar.The deal, if concluded, would make Temasek one of the major shareholders in Matahari. Private equity firm CVC Partners has hired CIMB, Morgan ...
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Spar International to return to India
Spar International plans to return to India by the year-end. Managing director Gordon Campbell said the retailer is in talks with a number of regional chains to sign licensing agreements.He said India is a crucial market for Spar and the company is seeking multiple partners for different regions.“India will be ...
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NewsTheo Paphitis mulls opening series of Robert Dyas shopping centre stores
Ryman Group boss Theo Paphitis is considering opening more Robert Dyas stores in shopping centres as he seeks to take advantage of new retail property coming online.
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NewsTesco completes £490m sale and leaseback
Tesco has completed a sale and leaseback of seven sites for a sum in excess of £490m.
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NewsBlockbuster administrator Deloitte to close a further 164 stores
Blockbuster administrator Deloitte is to close a further 164 stores over the coming weeks as part of a phased closure programme following the initial decision to shutter 129 shops.
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Ahold to turn convenience store banner into separate division
Ahold is to turn its convenience store banner AH to Go into a separate division. AH to Go was formerly managed as part of Ahold’s domestic Albert Heijn operation, alongside Albert Heijn supermarkets and AH XL superstores.Through the restructuring, the retailer aims to be better positioned to react to AH ...
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Galeries Lafayette to open first Chinese store
Galeries Lafayette is to open its first Chinese store in the Xidan commercial district of Beijing in September. It will occupy six floors and cover 516,000 sq ft.Beijing Galeries Lafayette managing director Shen Lang said the store will offer young Chinese shoppers “quality, innovation and uniqueness”.
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Decathlon to open 25 stores in China
Decathlon plans to open 25 stores in China this year, and aims to have 150 in the country by 2015. In Guangzhou, the retailer expects to have 20 stores within two years. At present, it has 56 shops in China.Decathlon recently opened its third store in Guangzhou, Guangdong province. Sited ...
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Fast Retailing to open 10 Uniqlo stores in the Philippines
Fast Retailing is opening 10 Uniqlo stores this year as it aims to build the brand in the Philippines. Four stores are expected to open in the first half of the year, one in Taguig City’s SM Aura mall.The retailer will also open stores in SM Fairview in Quezon City ...
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NewsFashion chain Republic poised to plunge into administration
Fashion retailer Republic is understood to be on the verge of administration, with administrator Ernst & Young waiting in the wings.
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NewsHomewares retailer Dunelm pre-tax profits soar 14.6% in first half
Homewares specialist Dunelm pre-tax profit soared 14.6% to £59.8m in its half year to December 29 as its store expansion continued with 10 superstores opened over the period.
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NewsDanish mattress brand Tempur Mattresses to open first UK store in Bluewater
Danish mattress brand Tempur Mattresses, which uses NASA technology to create its products, is to open its first store in the UK in Bluewater shopping centre this summer.
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NewsHMV to shut 66 loss-making stores
HMV’s administrator will close 66 stores over the next one to two months, putting 930 jobs on the line.
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NewsGovernment develops forum to boost struggling high streets
The Government is establishing a national Future High Streets Forum, co-chaired by Alliance Boots health and beauty chief executive Alex Gourlay, to develop the work done by the Portas Pilots.
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NewsTroubled Store Twenty One pleads for urgent rent relief
Troubled fashion retailer Store Twenty One has written to its landlords asking for an immediate cut in rent, warning that without help it faces liquidation.
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NewsMorrisons boss Dalton Philips vows to ‘fight hard’ to win back spend
Morrisons chief executive Dalton Philips has issued a rallying cry to staff to “fight hard” in a bid to get the beleaguered grocer back on track.
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Thai retailer CP All outlines growth plans
Thai retailer CP All has outlined growth plans for its domestic and overseas markets. It plans to boost investment and expand its 7-Eleven convenience store chain to China and neighbouring countries.In Thailand, CP All intends to spend between Bt6bn and Bt6.5bn (£128.1m to £138.7m) this year opening 500 to 550 ...
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NewsTesco to open first in-store Harris + Hoole in London Bridge
Tesco is to open its first Harris + Hoole coffee shop in one of its stores after securing planning permission at its Tooley Street store in London Bridge.
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NewsMarks & Spencer eyes European expansion for Simply Food format
Marks & Spencer is to launch its Simply Food concept into other Western European countries after it enjoyed strong food sales in its Paris flagship store.