Have you ever wandered into a shop, had a browse, found something you liked and checked the price online to see if you can find it cheaper? Well you are not alone. But this type of shopping is killing the high street as many retailers struggle to compete with online prices. This type of browsing and buying elsewhere has become known as... Read More
Investment in the Russian commercial real estate market reached $2.4 billion in the first quarter of 2013, according to a new report released by CBRE Group. This figure marks an all-time high in the sector. In the same quarter in 2012, investments were $101 million. The recently-released figures shatter the previous record, which was... Read More
Around this time last year the nation was thrown into a panic-buying frenzy triggered by the potential strike action of tanker drivers. Although this strike failed to materialise, sales of petrol and diesel skyrocketed at a time where most households were choosing not to fill their tanks to the brim due to soaring costs. This was closely... Read More
Vacancy rates and empty property taxes have featured prominently in the news as of late indicating that, while the commercial property market may be showing signs of recovery, there is still some way to go. While this may be bad news for landlords with property for sale or rent, it has paved the way for small companies seeking new... Read More
Business Secretary Vince Cable has reiterated his determination to introduce a code of practice to protect tenants of large pub companies (pubcos) from ‘a combination of unfair practices.’ If the code is introduced it could save tenants thousands of pounds a year in rent and the price they have to pay for beer. In a press release... Read More
Saints days have become somewhat overshadowed by everyday life for many British people, with only the largely drinking-related St Patrick’s celebrations keeping the festive annual staple alive for the majority. However, these holidays can play an important role for the country their saint represents, whether this is to allow for... Read More
Chief executive of Next retailer, Lord Wolfson pocketed more than £4.5m last year after a healthy increase in annual profits at the clothing and household furnishings retailer. However he has taken the almost unprecedented step for a FTSE 100 boss of sharing with his employees an additional bonus of £2.4m, following a sharp growth in... Read More
German car maker BMW has demonstrated its confidence in a relatively new luxury car market by choosing to base construction of one of its most popular makes in India. Iconic British brand Mini, which boasts models such as the Clubman and Cooper, has proven immensely popular in the country and as a result will begin manufacturing the... Read More
According to a recent survey conducted by the payment system Bacs, many SMEs are forced to wait around two months before they receive any payment from their customers. Times are already tough for many SMEs, so adding this fuel to fire could force many businesses to collapse who just can’t afford to wait that long to be... Read More
A Victorian coffin fitting works in Birmingham’s Jewellery Quarter is about to be transformed into a business centre after securing additional funding. Following the revamp the Grade II listed Newman Brothers building in Fleet Street will provide commercial space for emerging companies. Birmingham Jewellery Quarter In addition the... Read More
The Little Chef chain has been put up for sale, with potential buyers including Costa Coffee and Starbucks. The sale of the roadside restaurant group is expected to raise tens of millions of pounds for turnaround firm R Capital, which took control of the chain of eateries in 2007. Service station operators such as Moto and Welcome... Read More
450 Jobs “Go Under the Axa” in Fresh Wave of Cuts UK insurer Axa has revealed plans to cut 450 bank-based roles in the latest blow to the country’s jobs market. Branches of the Co-operative, Clydesdale and Yorkshire banks will be affected by the move, which Axa claims is a logical step in the cessation of face to face financial... Read More
2012 was a year of celebration in the UK, with both the London Olympic Games and Her Majesty’s Diamond Jubilee taking place in the space of a few months. In order to commemorate Queen Elizabeth’s 60 years on the throne a network of 2,012 beacons were lit across the country, while venues geared up to cater for both royalists and tourists... Read More
Tesco’s annual profits have fallen for the first time in two decades, leading Britain’s number one supermarket to reconsider their international options. As a result, it has been decided that more energy will be devoted to the UK business by dropping American equivalent Fresh & Easy. While statutory pre-tax profits saw a drop... Read More
Crestpoint Real Estate Investments Ltd. has added to its assets in Greater Toronto and Mississauga. Pierre Elliot Trudeau Airport The recent acquisitions, which are valued at approximately $47 million and total 428,000 sq ft, include four prime retail properties and four Class A industrial properties. The company has also acquired the... Read More
Plans to demolish and rebuild Euston Station as part of the HS2 project have been scaled down and the station will now be redeveloped instead. The latest proposal involves retaining most of the existing platforms, adding eleven new ones and building a new ticket hall for Euston Tube Station. New homes, offices and shops could also be... Read More
Department store Debenhams has announced plans for a major high street expansion despite reporting a fall in profits. In the six months to March, overall profits fell by 5.4 per cent to £120.3 million. Heavily contributing to this issue was a 10 per cent drop in like for like sales during the final two weeks of January, at which time... Read More
Mitsubishi UFJ Financial Group (MUFG) has bought a U.S. commercial loan portfolio from Deutsche Bank with a value of $3.7 billion (£2.4 billion). The deal will move the Japanese bank from being the 17th largest real estate lender to ninth place in the United States. The purchase will also serve to diversity the lender's property... Read More
The Duke of Westminster has turned down a dividend for the second year in succession according to the latest accounts from the Grosvenor Estate. The Duke, whose wealth is estimated at £7.5 billion in the Sunday Times Rich List, last accepted a pay-out in 2010 when he received a dividend of over £11 million. Gerald Grosvenor, the 6th... Read More
A scheme by which thousands of children from across Britain are each given £10 to start a business has been re-established with the backing of the Government and entrepreneurs including Innocent Drinks co-founder Richard Reed. The Tenner Initiative, which is designed to support business thinking among young people, has been relaunched... Read More
Aurora Fashions has announced that it is currently negotiating with landlords in an attempt to reduce the cost of renting stores to house its subsidiary chains. The group, which owns brands such as Oasis, Coast and Warehouse, has warned that if no deal can be agreed then they will have no choice but to scale back the number of shops they... Read More
Corby has seen dramatic changes over the past few years with developments popping up all over the Northamptonshire town. According to research conducted by Prop-Search, a commercial property agent, the town is one of the fastest growing in the whole country. New Jet filling station and Londis store Corby, which is located north-east of... Read More
