The retail industry may be recovering slowly but surely, yet picking up bargains where possible is still a priority for most consumers concerned about the cost of living. As a result, outlet stores remain popular shopping destinations. This has been the case for Manchester outlet, The Lowry, which is located at MediaCity in Salford.... Read More
Coffee chains have become ubiquitous in our town centres, helping to alleviate property vacancy rates and boost high street growth. Their popularity ensures that the acquisition of smaller chains has become a prime target for many retail and hospitality firms. Recently Tesco acquired a stake in Harris + Hoole and now catering group... Read More
While the majority of retailers on UK high streets are seeing a distinct improvement in their fortunes, iconic brand Marks and Spencer is still struggling to hit the right note with consumers. Although its food sales remain strong, the non-food offering has received mounting criticism from industry experts, with the result that rival chain... Read More
The three biggest banks in The Netherlands have set aside enough money to cover their troubled commercial property loans, claims a new a report ahead of a European banking review due to be published later this year. The Dutch central bank — which audited the portfolios of ING Groep NV, Rabobank Group and ABN Amro Bank NV — said, in... Read More
Ten of Manchester’s biggest businesses have agreed to finance a long-term plan to transform Salford Quays into the “South Bank of the North”. When complete it’s hoped the project will attract millions more visitors and boost the city’s economy by more than £300m. Work to implement the blueprint — officially known as the... Read More
A Chinese tycoon has expressed an interest in purchasing British department store House of Fraser. Former government official and multi-millionaire Yuan Yafei approached directors with a £450 million offer for the 165 year old department store with a view to adding its assets to those already controlled by his own conglomerate,... Read More
A council leader has claimed that planners were offered “tainted” money to sell a seafront plot of land for office development. The authority had previously earmarked the site as a temporary stop-over for travellers. Poole-based Forelle Estates had initially offered the borough council £250,000 for the land at Marshes End,... Read More
As workers put the finishing touches to Europe’s biggest office complex, there are growing fears in France that a new property boom is underway — before the previous bust has ended. The Majunga Tower is a 45-storey block nearing completion at La Défense, west of Paris. By August it will add another 63,000sq metres to the vast... Read More
The leisure industry may have rebounded in impressive form since the end of the recession, but certain sectors within it continue to struggle. This primarily concerns pubs and nightclubs, as the price of alcohol remains a deterrent for consumers with low disposable income despite the concessions made within the Chancellor’s latest... Read More
The London skyline is easily one of the most recognisable and impressive of any city in the world. However, a number of public figures have now launched a campaign in response to what they see as a threat to the existing skyline, which could potentially see exciting new developments halted in their tracks in the future. The aim of the... Read More
Bruntwood — the family-run property company with more than 110 city centre properties across the UK — has confirmed interest is running high for the sale of its landmark Manchester office block. At least one Middle East investor is known to be preparing a bid for the 30-storey City Tower. The company’s chief executive, Chris... Read More
In 1991 there were just 5,000 people living Sydney’s central business district. At the end of last year more than 22,000 had taken up residence among the office blocks. And that figure looks set to rise by at least another 5,000 in the next five years as the city follows New York and London with a move toward inner-city... Read More
Overseas investors promise ‘sensitive’ commercial development In a move that is certain to face opposition from heritage groups, it has emerged that Historic Royal Palaces is involved in negotiations over the sale of the Tower of London to a consortium of overseas investors. The Chinese led consortium, Future Investment Buyers... Read More
With the future of London’s air travel capacity still up in the air (quite literally), London Mayor Boris Johnson has stepped up his campaign for a new hub airport to be built in the Thames Estuary. Although the possibility of extending facilities at Heathrow to include a third runway has not yet been ruled out by the Airports... Read More
Carpetright has issued its third profits warning in less than six months. Pre-tax profits for the flooring retailer could fall as low as £3.5m — half of what most City analysts had expected. The company is blaming disastrous winter sales figures — like-for-like UK sales rose by just 0.2 per cent during the last eight weeks —... Read More
Kodak — which emerged from bankruptcy last autumn — has puts its 1,200-acre Eastman Business Park on the market. Although it refuses to name an asking price for the New York state site Kodak says it will use the money to focus on its commercial imaging businesses. For years, The Rochester-based printing technology company has sold... Read More
Nottingham City Council has signed an outline agreement with the Peel Group for a £70m scheme to build a new office and hotel complex. Almost half of the office floorspace would be taken over by the local authority. The infrastructure, transport and real estate investment company said it was confident that due diligence and heads of... Read More
Analysts around the world are involved in a debate over whether the Canadian commercial real estate market, which has been red-hot in recent years, is heading for a crash. The country's pension funds, insurance companies, and real estate investment trusts, have been key players in the sector and have been saying that the market appears... Read More
With retailers now actively seeking expansion due to the improved consumer outlook, shopping centres and high streets around the country are noticing vacancy rates falling at a steady rate. This is positive news after several years of contraction in the retail industry, and indicates that recovery is finally beginning to show results in the... Read More
A mothballed Scottish electronics factory could be turned into high-tech commercial units and a college campus under new plans unveiled by Shepherd Offshore. The firm — fronted by ex-Newcastle United chairman Freddy Shepherd — also wants to build houses and a hotel on the million square feet site. The Fife site was bought by the... Read More
Foreign investment in Manhattan reached a record $5.5bn (£3.3bn) last year — nearly twice the previous 2007 high-water mark — with Chinese companies leading the charge. According to real estate brokerage Colliers International, not only did overseas spending on Manhattan real estate set a new record, it also established a new... Read More
Although retailers are experiencing better conditions than were seen during the recession, many are still struggling amidst fluctuating levels of consumer confidence and increasing energy bills. The exception to this rule has so far been home ware and furniture retailers, as the recent boom in the residential market has encouraged consumers... Read More
