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Tag: Real estate

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

M&G extends ban on withdrawals from flagship fund | Money

M&G has extended the ban on investors withdrawing funds from its flagship £2.5bn property fund, one of the biggest in the country. The company shocked small investors in December by suspending its giant Property Portfolio fund in response to a surge in the numbers of people pulling their cash out. M&G is required to review …

M&G extends ban on withdrawals from flagship fund | MoneyRead 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

The cities that lost HQ2 ‘perhaps can create next Amazon”

Losing to the urban neighborhood of Crystal City in Arlington, Virginia, may not be the end story for the more than 230 cities that attempted to win the bid for Amazon‘s second headquarters. According to AOL co-founder Steve Case, the 14-month-long bidding process may have triggered these cities to keep the energy going and feel …

The cities that lost HQ2 ‘perhaps can create next Amazon”Read 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

Video shows burglars at CEO Don Ghermezian’s New York mansion

The New York City Police Department released video footage on Tuesday showing a group of men who they say ransacked a mansion belonging to billionaire real estate mogul Don Ghermezian, stealing $140,000 worth of luggage and jewelry. The footage shows several unidentified male suspects walking past a security camera on Saturday evening outside Ghermezian’s multimillion-dollar …

Video shows burglars at CEO Don Ghermezian’s New York mansionRead 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

TJX, Ross, Burlington benefit from ‘losers in the mall’

CNBC’s Jim Cramer on Friday highlighted one segment in the retail industry he believes will work well in a portfolio whether the economy is slowing or thriving. The off-price retailers of TJX Companies, Ross Stores and Burlington Stores satisfy both consumers looking for bargain deals and real estate investment trusts, or REITs, looking to lease …

TJX, Ross, Burlington benefit from ‘losers in the mall’Read 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