Latest property news – Page 27
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NewsIntu on the brink after reporting £2bn valuation loss
Shopping centre giant Intu has reported a £2bn loss for its last financial year and warned it is at risk of going under if it cannot raise more funds.
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NewsWHSmith warns on profit as coronavirus hits travel business
WHSmith has slashed its full-year profit forecast as the coronavirus pandemic takes it toll on its travel division.
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NewsAmazon starts selling checkout-less tech to retail rivals
Amazon has started selling the technology behind its checkout-less Amazon Go stores to other retailers.
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NewsStorms wash away gains in February as footfall declines across the board
Three named storms brought record rainfall to the UK during February, driving footfall down and wiping out some of the modest gains made at the start of the year.
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NewsReading shopping centre owner wins permission for residential development
The owner of Reading’s Broad Street Mall shopping centre has gained planning permission to add new retail space as well as residential accommodation as part of its regeneration project.
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NewsIntu to explore options after £1.5bn equity raise fails
Intu has failed to raise the £1.5bn needed to refresh its credit ahead of publishing its full-year financial results next week, but said it remained hopeful of fixing its balance sheet.
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NewsDebenhams rejects claims that lender commitment is in doubt
Debenhams has slammed down suggestions that the commitment of its lenders to a debt for equity swap is in question and that debt restructuring was reliant upon more deep rent reductions.
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NewsIntu to open UK’s first store dedicated to curating pureplay brands at Lakeside
Institutional landlord Intu is set to open the UK’s first ever store dedicated to curating pureplay retailers and brands at its Lakeside shopping centre.
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NewsIntu credit extension dependent on raising £1.3bn equity
Embattled landlord Intu has agreed on an extension to its credit facilities with its lenders as long as it can raise at least £1.3bn of equity.
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NewsHammerson eyes further disposals this year with ‘nothing off the table’
Hammerson is considering further disposals this year and selling stakes in assets across its flagship centre and premium outlet portfolios, according to a senior executive.
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NewsTed Baker in talks to sell off London headquarters
Ted Baker is set to sell off its Ugly Brown Building headquarters in north London in a bid to raise funds following its accountancy crisis.
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NewsHammerson profits fall against challenging retail backdrop
Shopping centre owner Hammerson has posted falling profits and rental income during its full-year results.
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NewsHalf of shoppers to avoid goods shipped from China as coronavirus fears rise
Nearly half (48%) of shoppers have said they would avoid goods from sellers shipped directly from China if coronavirus continues to spread.
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NewsHammerson sells remaining retail parks at a discount
Institutional landlord Hammerson has confirmed the sale of its remaining portfolio of retail parks at a “wider than expected” discount, as it looks to shore up its balance sheet.
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NewsLidl pledges £1bn investment to reach 1,000-store target
Lidl has pledged to invest more than £1bn in new stores over the next two years as it ramps up expansion plans to reach its target of 1,000 stores in the UK by 2023.
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NewsClosure looms for Beales stores as no buyer emerges
The remainder of Beales department stores are likely to shut after the retailer’s administrator said it had received no “deliverable offers” for the business.
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NewsHammerson creates new exec role to drive mixed-use strategy
Institutional landlord Hammerson has created a new executive role to drive forward its City Quarters strategy, which will look to diversify the group’s portfolio away from its reliance on retail.
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NewsMarks & Spencer fires warning to landlords over loss-making stores
Marks & Spencer has warned its landlords it will shut underperforming stores, placing property owners on red alert for further closures.
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NewsSainsbury’s, Frasers and Shoe Zone plead for business rates reform
The bosses of Sainsbury’s, Frasers Group and Shoe Zone have piled further pressure on new Chancellor Rishi Sunak to reform the business rates system.
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NewsTesco ‘unlawfully’ blocked rivals from opening stores, CMA finds
Tesco has been slammed by the competition watchdog for “unlawfully stopping rivals from opening shops near its stores”.