Latest property news – Page 17
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NewsAsda owners to sell 27 forecourts to smooth competition concerns
Asda’s new owners the Issa brothers have agreed to offload a tranche of EG Group’s petrol forecourts, paving the way for them to formally complete their £6.8bn takeover of the supermarket chain.
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NewsTopshop Oxford Street flagship goes on sale for £420m
The sale of Topshop’s iconic Oxford Street flagship has kicked off, with a portion of the funds from the £420m sale allocated to Arcadia’s pension scheme.
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NewsOne in seven shops now empty as shopping centre vacancies spike
The number of retail vacancies increased across all shopping destinations and regions in the first quarter of 2021.
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NewsWHSmith launches £325m fundraise to open 100 new travel stores
WHSmith has unveiled plans to launch a £325m fundraise as the retailer doubles down on the expansion of its challenged travel division.
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NewsDixons Carphone closes travel arm despite strong group trading
Dixons Carphone plans to close its Dixons Travel business after predicting an insufficient recovery in passenger numbers.
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NewsShopping trips set to drive post-lockdown economic recovery
Britain is primed for “a sharp snap back” in consumer spending as lockdown eases driven by a desire to return to bricks-and-mortar retail.
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NewsIssa brothers’ Asda swoop sparks competition concerns
The Competition and Markets Authority (CMA) has raised competition concerns over the Issa brothers taking over Asda petrol forecourts – but has also opened the door to rubber-stamping the deal.
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NewsUK retail footfall rebounds but pre-Covid comparisons highlight fragile growth
UK retail destinations all experienced a bounce when non-essential retail and some outdoor hospitality reopened, but weak pre-Covid comparisons show how far the industry still has to recover.
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NewsEG Group swoops for £100m Leon acquisition
EG Group, the petrol forecourts business whose billionaire founders also own supermarket chain Asda, have snapped up food-to-go business Leon for £100m.
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NewsTesco full-year sales climb, profits dampened by rates relief return
Tesco boss Ken Murphy hailed the grocer’s “incredible strength” as it reported a rise in full-year sales and profits notwithstanding its business rates repayment.
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NewsJD Sports boss calls for London rent reduction as footfall ‘battered’ by Covid-19
JD Sports boss Peter Cowgill says central London footfall has been “battered” by Brexit and Covid-19-induced lockdowns.
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NewsBoohoo buys London office as base for 600 staff
Fashion etailer Boohoo has acquired office premises in central London that will provide a base for 600 people.
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NewsHomebase strikes Next shop-in-shop deal as buyers circle
Homebase will open garden centres inside six Next stores from today to coincide with retail’s reopening.
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NewsGovernment faces criticism as it hints at Covid certificates in stores
Coronavirus certificates could be needed to enter some high street shops from this summer, the government has hinted, as Labour pledged to vote against any such plans.
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NewsUnion hails ‘massive victory’ as Asda equal pay challenge fails in Supreme Court
Grocery chain Asda could be forced to pay out as much as £500m to employees following its latest setback in a long-running equal pay battle.
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NewsMore than 11,000 shops shut in 2020 as Covid hammers high streets
More than 11,000 shops closed their doors for good in the UK last year and another 18,000 could follow in 2021 as the coronavirus crisis hammers Britain’s high streets.
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NewsIceland launches Swift convenience format as Thorntons closes all 61 stores
Iceland has lifted the lid on plans to launch a new Swift convenience format as it bids to take a bigger slice of the lucrative food-to-go market.
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NewsStore closures hit record high of 48 per day in 2020
More than 17,500 stores closed in 2020, marking the biggest decline in shop numbers in over a decade.
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NewsCommercial evictions ban extended until end of June
The government has extended the commercial evictions moratorium until the end of June, in a move that will bring relief to struggling high street retail and hospitality businesses.
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NewsRetail footfall climbs in February with lockdown end in sight
Footfall across all retail destinations rose between January and February this year, as customers flocked back to stores in anticipation of the easing of lockdown restrictions.