Despite the number of empty shops in Scotland reaching a two-year high, the country’s commercial property market is well on the road to recovery. According to the Scottish Retail Consortium just over 11 per cent of retail premises north of the border are now vacant, bringing it into line with the UK average. And although retail sales... Read More
Land Securities has made the decision to increase the floor space of the food court located in the White Rose Shopping Centre, Leeds. A £7 million investment will see the facility triple in size, taking the food court from the present 7,000 sq ft to a space in excess of 21,000 sq ft. Prezzo will be one of the new tenants The increase... Read More
Pressure is mounting on the Chancellor after the Telegraph yesterday added its voice to the growing chorus calling for a freeze in Business Rates. In making the call, the newspaper joins the British Retail Consortium (BRC), the British Chambers of Commerce (BCC), and the British Property Federation (BPF) who have all spoken out about... Read More
Although UK store administrations have slowed dramatically since the start of the year, several brands are finding a lack of consumer demand and shrinking profit margins challenges which prove to be insurmountable in the long run. As a result, administrations and large scale commercial property sell-offs have once more begun to creep up, with... Read More
Sainsbury's has posted a half-year pre-tax profit of £433m, a rise of 9.1 per cent compared to the same time last year. The supermarket chain said the results were “strong” considering the “tough trading environment”. The report continues to say that like-for-like sales, which strip out new store space, rose 1.4 per cent... Read More
Although employment figures appear to have taken a turn for the better in recent months, issues such as underemployment and youth unemployment remain major issues for the country’s labour market. Now a new study conducted by the London School of Economics (LSE), in partnership with think tank Resolution Foundation, may have come up with a... Read More
Google — which is claimed to make $100m-a-day from its online advertising — is about to launch a programme linking our online activity with what we do in real life. Bridging that gap has long been the Holy Grail for advertising and marketing companies. Now the internet search giant claims to be able to continuously track a... Read More
Four hundred news homes, scores of industrial and office units and a more exclusive passenger image are at the heart of a package to save cash-starved Durham Tees Valley Airport (DTVA). The rescue plan comes just days after news that DTVA had lost almost £3.6m last year attempting to keep up with its better-connected and more popular... Read More
Birmingham’s creative and digital centre the Custard Factory has been honoured at this year’s Urbanism Awards ceremony. The development, which is home to a cluster of businesses, restaurants, bars and independent retailers, was rewarded for its “catalytic effect” on the economic and cultural growth of the city. The complex is... Read More
UK retailers are experiencing something of a boom in sales at present, with the British economy picking up and yielding some positive results in the retail industry. Yet for many, the slow pace of growth has left them keen to chase a higher volume of sales in foreign markets, with emerging Eastern economies such as China and India fast... Read More
Victoria Beckham is certainly making America her home as she plans to open an office in New York for her fashion brand. The 4500 sq ft office is located in Manhattan, and will be home to the wholesale team. Seasonal showroom space will also be available at the office when the team moves in, in January next year. Victoria will still... Read More
John Lewis is to open a department store at Westfield shopping centre in West London. The 230,000 sq. ft. branch covering an impressive four floors will be one of the biggest in Britain and will anchor a £1 billion extension of the shopping centre, scheduled to open in 2017. Managing director of John Lewis, Andy Street, said: “Our... Read More
Locals have mixed feelings about a £55 million commercial development proposal in Middlesbrough. The proposal involves the construction of a £35 million retail and leisure scheme in the Middlehaven area of the town, as well as the £20 million redevelopment of nearby Wilson Street. So far, the plans have been unanimously backed by... Read More
Arcadia, which owns some of the best known high street fashion retailers, is planning to open convenience food outlets within some of its stores. Sir Philip Green (centre) Arcadia is the owner of stores such as Dorothy Perkins, Miss Selfridge, Topshop, Topman and Wallis, but it is its BHS stores where the food outlets are planned to... Read More
With Christmas fast approaching, British consumers will soon enter into a frenzy of shopping to pick up gifts for their family and friends. However, it seems that while we Brits enjoy spending hard earned cash on our loved ones, we are a little more reluctant to pick up a little something for ourselves. In a survey of 12,434 adults... Read More
Regional entrepreneurs running small and medium sized businesses are vital to national recovery, two separate reports have shown. In the wake of claims that northern companies are financing southern recovery, a survey by professional services provider Ernst & Young found that dedicated and enthusiastic northern bosses increased... Read More
PNK Group will build a second multi-temperature warehouse for Verniy one of Russia's fastest-growing grocery store chains. The facility will measure 43,000 square meters and is being constructed at class A+ industrial park in St Petersburg. Cushman & Wakefield were involved in the deal as advisors and according to the firm, it... Read More
Birmingham landmark Alpha Tower is for sale at just a quarter of the price it was purchased for in 2008. Catalyst’s European Property Fund has placed Alpha Tower on the market for £10.25 million. Five years ago they paid Arena Central Developments £42.5 million for the 200,000 sq ft office building, but have since faced a series of... Read More
Aviva is planning to sell its book of distressed property holdings in a move that could raise as much as £400 million for the insurance giant. The sale is further evidence of increasing investor demand that is helping financial institutions recover previous losses. Around £4 billion of Aviva’s UK property portfolio is reported to... Read More
According to forecasters, the US recovery will continue into next year and investors will look beyond the traditional markets into secondary ones to get higher yields. The report was co-published by PwC US and the Urban Land Institute (ULI). San Francisco's thriving economy is attracting investment The growth in secondary markets is... Read More
With economic recovery in full swing and Christmas looming, British consumers have begun spending in earnest once more. This is good news for the retail industry, especially for brands that have a strong consumer following and are known for reliability and customer service. In fact, it appears that since the end of the recession... Read More
Land Securities is counting the cost of fixing the Walkie-Talkie’s solar glare which melted cars and damaged neighbouring buildings in the City over the summer. Chief executive Rob Noel says they have found a solution that will cost in the “low single digit millions” and will not put the building over budget or prevent tenants moving... Read More
