Property – Page 10
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NewsBritish Land repurposing retail park space as part of £600m urban logistics development plan
The property company sees additional value in retail parks because features such as ease of access by vehicle make them well-suited to repurposing to meet growing online demand
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NewsBluewater shopping centre unveils new store concept to showcase local brands
The 2,000 sq ft store is set to be in place for six months, in which new brands will be introduced on a rotating basis
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NewsAdvance quarterly rents set to return after protections end
Many retailers have moved to monthly payments while protected from eviction and rent debt recovery under emergency Covid measures
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NewsAmazon’s seventh Just Walk Out store to open over the road from Tesco’s GetGo
Tesco launched its own version of Amazon’s Just Walk Out shopping experience last month
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NewsAldi falls behind on store opening target
The discounter has fallen behind on a target of 1,000 stores by 2022 and will need to open about 80 a year to reach a longer-term goal of 1,200 by 2025
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NewsAldi continues expansion with push for 15 new stores by end of year
The discounter is set to arrive in new locations including Edinburgh, Orpington and Poole
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NewsOnline sales tax could hit click & collect and scan & go purchases in shops
The Treasury is to look at whether an online sales tax should apply to in-store purchases paid for via an app
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NewsIndustry reacts to Sunak’s business rates reform, including one-year 50% cut for retail and hospitality
The 50% cut – capped at £110,000 – will do little to help big businesses, says BRC
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NewsDark store operators driving ‘huge’ rent growth for urban industrial assets
Within London, areas such as Newham, Tower Hamlets and Southwark are forecast to see rent growth in excess of 7% for industrial assets this year
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Comment and OpinionCVAs are getting more popular. Are they changing the landlord-retailer power balance?
Retailers may find it harder to force through rent reductions, says barrister Matthew Weaver
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NewsOnline forecast to bear more of the business rates burden after next revaluation
Dramatic shifts in rental values on which the tax is based mean the burden will fall for shops and rise for online retailers, a new forecast suggests
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NewsMere seeking out nine more UK stores
The ultra low-cost retailer opened its first UK store in August and already has another three in the pipeline
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NewsBusiness rates reform: industry leaders outraged at new government delay
The plans have been “kicked into the long grass” because Chancellor Rishi Sunak has been too busy to consider them in the pandemic, it has been reported
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NewsRetailer stockpiling drives surge in demand for warehouse space
Warehouse space take-up in the first three quarters of 2021 hit 46.9 million sq ft, 27% up on the same period in 2020, according to property consultancy Knight Frank
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NewsLandlords urge chancellor to end ‘routine abuse’ of insolvency regime by retailers
The British Property Federation’s Budget submission to the chancellor renews its call for reform of the UK’s insolvency framework
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NewsBRC calls on chancellor to cut business rates in autumn Budget
The BRC’s call comes as a new report commissioned by retailers including Tesco, Sainsbury’s, Morrisons and Co-op claims reducing business rates could boost the government’s ‘levelling up’ agenda
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NewsPoundland sales and profits tumble after lockdowns hit footfall
Turnover for the year to 27 September 2020 was down 4.5% to £1.48bn, while operating profit plummeted from £26.7m to £8.6m
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NewsHeron Foods estate growth slowed by pandemic
The frozen food retailer has a long-term vision to grow the business but 20 to 30 stores a year, but the estate grew by just 13 in the year to 27 March 2021
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NewsPoundstretcher served notice to vacate by 63 landlords
The notices have followed rent cuts demanded by Poundstretcher in a restructuring plan launched last year
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NewsOcado launches second biggest CFC, in Purfleet
Ocado Retail’s sixth CFC opening coincides with the one-year anniversary of its switchover from Waitrose to M&S