Further evidence of shift in shopping habits emerges A seismic shift in shopping habits during the recession, and a land grab by the major supermarkets, are key factors in the revival of Britain’s blighted high streets. And its not just shoppers returning to the town centres, claims a new survey, retailers are also choosing the town centre... Read More
A new survey conducted by the British Chambers of Commerce (BCC) shows that exports within the services sector have hit an all-time high, indicating that lasting growth is beginning to take root in the UK. The survey of 5,600 companies shows that those operating within knowledge based areas have seen a 38 per cent increase in... Read More
Supermarkets are having a bit of a tricky time in the UK of late, with growing competition from budget rivals and a rising consumer preference for convenience stores forcing the nation’s top chains to somewhat change their game plans. The emphasis is now very much upon cutting costs on everything from groceries to clothing lines in the hope... Read More
Despite a planning application yet to be submitted, the demolition of Aberdeen’s former city council headquarters has already started with its new £107m office block replacement slated for completion by the summer of 2017. Fully funded by Aviva Investors, the contract of transforming the St Nicholas House site —and pedestrianising... Read More
Retail developments are powering on throughout the country in response to the improving economy and investor confidence. However, Shrewsbury’s Riverside development is once more facing issues which have pushed back the completion date of the project, with site owner UK Commercial Property Trust handing the keys over to Shrewsbury based... Read More
But deal is likely to lead to further pub closures While the financial crisis may be over and Britain is now officially in recovery, certain sectors within British industry continue to struggle to lift profits due to consumers remaining wary of spending excessively. This especially applies to the pubs sector, which is yet to see results... Read More
Pets are suddenly making their presence felt on the on the high street in unexpected ways. Last week it was reported that Pets at Home had opened a premium shop for dogs in Cheshire. However, one area in which one would not traditionally expect to find our furry friends is the hospitality sector – until now. Lady Dinah’s Cat... Read More
The majority of town centres “were created when people were on horses” and are no longer suitable for any major commercial schemes, a leading developer has claimed. He has also slammed councils who oppose edge-of-town developments as “living in the past”. Outdated views of what a town centre should look like, with a top-heavy... Read More
But butterflies can’t break beanstalks says property writer The battle over the future of London’s skyline has escalated with warnings that the current rash of high-rise development schemes will cause irreparable harm to the character of the capital. It was recently reported that there were 236 buildings of 20 storeys or over in... Read More
The Homes and Communities Agency (HCA) has confirmed it is taking control of two Liverpool commercial schemes. Both sites are now expected to be put up for sale. The agency stepped in when a 10-year joint venture agreement on both the Exchange Station office complex and Liverpool Innovation Park came to an end. The NorwePP partnership... Read More
The Crown Estate — which manages almost £9bn worth of property — has halved its Windsor Estate and its rural coastal portfolio legal panels by re-appointing just two of the law firms its uses to advise on its vast holdings. As part of a cost-cutting exercise the sovereign portfolio introduced competitive tendering and decided that... Read More
Officials at the Bank of England have raised concerns about the relaxation of lending rules in the commercial property market, according recent minutes from its financial markets watchdog. The minutes from last month's meeting of the Financial Policy Committee (FPC) showed that Bank policymakers noted "signs of relaxation" in... Read More
Europe’s biggest DIY retailer Kingfisher — which already owns French home improvement chains Castorama and Brico Depot — is just days away from sealing its third cross-Channel buy-out after it confirmed it is in exclusive talks to acquire Mr Bricolage. The £227m deal by the owner of B&Q would allow the British company to... Read More
As economic recovery intensifies a growing number of British retailers are seeking opportunities overseas in a bid to lift revenues and raise profits whilst consumer confidence is high. Whilst much of this expansion is taking place in markets such as the Middle East, China and India, the USA remains a key target for fashion retailers keen to... Read More
As numerous studies have shown, the British public is more than willing to spend excessive amounts on their pets – with many even spending more on their four legged friends at Christmas than on their partner, friends or family. Pets at Home is now seeking additional ways to capitalise on this, and as a result has launched a new retail... Read More
After four years of neglect, and just as many rejections by would-be developers, the biggest empty building in downtown Dallas is to get a $175m (£105) revamp. Elm Place, centre left, was built in 1965 for the First National Bank and was the tallest building in Dallas for 15 years Built in 1965 — and for 15 years the Texan city’s... Read More
LondonMetric Property has snapped up a million sq ft pre-let distribution complex in Northamptonshire following its recent £60m acquisition of a nearby site which already houses budget retailer Primark's central distribution hub. In the first deal — signed last Friday — LondonMetric bought a warehouse at Thrapston from Moorfield... Read More
A number of retailers have implemented expansion plans of late as consumer confidence recovers. This tactic has certainly worked for home wares retailer Dunelm Mill, which has seen an impressive 9.9 per cent growth in revenue to £195.4 million in the last quarter. In the 13 weeks to the 29th of March 2014, Dunelm Mill has managed to... Read More
An interesting new trend has emerged on the high street – while retail and leisure firms continue to invest in growth and open stores, banking chains are increasingly choosing to close branches or alternatively open concessionary outlets in existing retail premises. This trend has continued this week with news that Vodafone will be... Read More
As the recovery began to take hold in the UK, many analysts were concerned that growth would be focused in key locations, leaving smaller towns of the country trailing in their wake. Public and private sectors have teamed up to deliver significant projects says Prop-Search director Ian Harman However, success can be achieved in these... Read More
The Co-operative group has signed an £800m joint venture deal with Hermes Real Estate for the redevelopment of 20 acres in the heart of Manchester. Last June the Co-op abandoned talks with Delancey and Landid after failing to “agree priorities” on the same project. To be built under the group’s ongoing NOMA scheme, the... Read More
A 1970’s Manchester commercial block — which featured as a backdrop in several episodes of the television science fiction crime drama Life on Mars — is to get a £1.5m upgrade investment. LaSalle Investment Management has already spent around £2m on the 14-storey Hexagon Tower since acquiring the building in 2008. “We are... Read More
