As the high street recovery continues to gather pace, many retailers who struggled during the recession are finding their fortunes are slowly beginning to change. One such retailer is JD Sports which, following a much stronger than expected first half, has managed to more than double year on year profits and break its own personal... Read More
The upturn in the regional property markets is continuing with one Midlands company reporting a staggering 238 per cent surge in profits and a Yorkshire investment firm seeing a rise in the value of its portfolio. In a six-month return which saw it raise £20m in equity, Birmingham-based Real Estate Investors (REI) reported a profit of... Read More
Just weeks after opening of its 250th premises 99p Stores — the penny-cheaper rival to Poundland — has now set its sights on expanding its presence in the Midlands and the north of England. Launched in 2001 from a single store in London’s Holloway, the family-run budget retailer says its aim is to open at least another 150... Read More
Despite a small drop in the past quarter, business confidence remains well above levels seen during the recession allowing firms to invest in growth and employment. This has seen the jobless figure fall further in the three months to July, reaching a six year low and lending hope to the long term unemployed. During the past quarter,... Read More
Shopping centre development projects rose sharply in the direct aftermath of the recession, although this has dropped somewhat in 2014 due to the continuing economic restraints experienced by commercial property owners. However, according to new information released by Cushman & Wakefield’s UK Shopping Centre Development Report, this... Read More
A building and office services firm — which has delivered more than 5,000 contracts in its 100-year history — has been rescued from a million-pound loss by the upturn in the property market. The John N Dunn Group, which has its head office at Wallsend in North Tyneside, last year posted a £1.03m loss. Its latest accounts, to the... Read More
As consumer confidence returns, retailers are more able to capitalise upon an increase in revenue by investing improvements to their properties. This has seen bakery chain Greggs add healthy eating options to its menu, as well as installing seating in a large number of its premises as a means of attracting lunchtime diners. In part,... Read More
DTZ Receivers has announced the sale of its second multi-million pound portfolio of distressed properties in less than a week. Yesterday we reported the real estate adviser has ordered the off-loading of a triple-asset portfolio that included two Scottish sites — the Radisson Blu Hotel on Edinburgh’s Royal Mile and The Quay Leisure Park... Read More
The Leadenhall Building is the centrepiece of architecture showcase Open House London which takes place this weekend. The City of London skyscraper will throw open its doors during the annual event designed to give the general public access to many of London’s finest buildings. The Leadenhall Building, which is on target to be almost... Read More
The collapse of Phones 4u has left its 6,000 staff fearing for their jobs as its 550 stores remain closed this morning. The impact is greatest in North Staffordshire where staff were sent home from the company’s headquarters yesterday and told to wait for further announcements. Administrator Pricewaterhouse Coopers (PwC) is currently... Read More
The Big Four supermarkets are facing increasing levels of competition, with brands from both the top and bottom end of the price range in the grocery market putting an extreme amount of pressure on the “squeezed middle”. And, it seems that this trend is set to continue, with German import Lidl eyeing up expansion opportunities in the West... Read More
Last week it was reported that confidence among large UK businesses had slipped to a six month low, causing some concern among economists. However, it appears that this is not an outlook shared by the small businesses community where optimism continues to grow indicating that, for local economies at least, stability is set to... Read More
Collapsed Irish management company assets hit the market A package of properties once owned by a collapsed Irish management company have been put on the market with a combined asking price of £132.3m. The triple-asset portfolio includes two Scottish sites — the Radisson Blu Hotel on Edinburgh’s Royal Mile and The Quay Leisure... Read More
Thousands of jobs have been put at risk following the shock announcement that Phones 4u has been forced into administration. At present, the firm controls 550 stores in the UK, all of which closed with immediate effect upon the announcement. However, Phones 4u have asked staff to report to their workplace as normal where further... Read More
Properties with “Glebe “and“Tithe” in their name may sound appealing, but there may well be an “ecclesiastical surprise” buried deep in their title deeds, warns one leading commercial agent. Traditionally, properties built on church land — Glebe was an area of land used to support a parish priest — had a clause written... Read More
The demolition of an eyesore multi-storey car park later this month will mark the start of Coventry’s biggest business quarter regeneration scheme for almost half-a-century. When complete the 37-acre Friargate development, adjacent to the city’s railway station, will encompass 25 new buildings including 14 Grade A office blocks,... Read More
Nairobi, the “Green City in the Sun,”has been seeing more skyscraper and high-rise construction over the past several years, and investors from around the world have been taking notice. By the end of 2013, there were over 20 buildings which were either topped out, currently under construction, approved, on-hold or proposed in the... Read More
There are increasing indications that Wanda Commercial Properties, the privately-owned subsidiary of Wanda Group, is preparing to go public in Hong Kong after the company changed the name of its Hong Kong shell company to Wanda Hotel Development Company and registered its new e-commerce joint venture. Both the public listing and the... Read More
Despite an increase in use of digital devices in South Africa, most consumers appear to be using them to make choices before visiting bricks and mortar shops, according to the results of Broll Property Group's Retail Consumer Survey 2014. The results of the survey were released at the annual congress of the SA Council of Shopping... Read More
With news from Scotland revolving around the upcoming referendum, it is often forgotten that many businesses must continue as normal in the days leading up to the 18th. However, this has been brought into sharp relief by the sale of the Ferguson shipyard in Inverclyde having been confirmed by administrators from KPMG this week. Clyde... Read More
Investment in the Tokyo commercial market is picking up pace based on the prospect of rent increase and rising returns. According to Jon Tanaka, the managing director of Angelo Gordon & Co., an alternative asset manager with $27 billion in assets, there is a sense of value there that Japanese and offshore buyers have not been able to find... Read More
Outspoken JD Wetherspoon boss Tim Martin is not letting-up on his calls for a fair tax deal for pubs, despite his company posting strong profits. The pub chain’s annual results reveal a pre-tax profit 0f £78.4 million – an increase of 37.1 per cent on the previous year. Nevertheless, Martin insists that the tax disparity between... Read More
