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Tag: Commercial property

Debenhams kicks off make-or-break year with 19 store closures | Business

Debenhams will begin a make-or-break year with 19 store closures this month that will result in 660 job losses on the UK’s fragile high streets. The struggling department store chain will close the sites in the space of a fortnight as it presses ahead with a rescue plan announced last year. The closures starting on …

Debenhams kicks off make-or-break year with 19 store closures | BusinessRead More

What does the M&G property fund own? | Business

M&G, which recently split from its parent Prudential, has temporarily suspended dealings in its property portfolio. It said Brexit-related political uncertainty and structural shifts in the UK retail sector had made it difficult to sell commercial property to meet demand from investors to have their cash returned. M&G’s top holdings at the end of October …

What does the M&G property fund own? | BusinessRead More

Value of British Land retail properties slides by over 10% | Business

British Land, which owns shopping centres including Sheffield’s Meadowhall and Drake Circus in Plymouth, has had nearly £600m wiped off the value of its retail empire over six months. It also reported a bigger half-year loss due to torrid conditions in the retail industry. The property company has written down the value of its retail …

Value of British Land retail properties slides by over 10% | BusinessRead More

Cautious UK shoppers dent profits at shopping centres owner | Business

Land Securities, which owns shopping centres including Trinity Leeds, Westgate Oxford and Bluewater in Kent, has slumped to a first-half loss after being hit by several store closures as retailers struggle against weaker consumer spending and a shift to online shopping. The last two years have been tough for the UK retail industry, as more …

Cautious UK shoppers dent profits at shopping centres owner | BusinessRead More

John Lewis to withhold 20% of service fees to some landlords | Business

John Lewis is threatening to withhold up to 20% of the service charges it owes to some of its shopping centre landlords, in protest at “unacceptable” increases in annual service charges over the last few years. Service charge payments cover non-rent items, such as heating, security, maintenance, marketing and staffing. John Lewis, which has about …

John Lewis to withhold 20% of service fees to some landlords | BusinessRead More