Hammerson has continued its strategy of focusing on retail assets with the sale of the office property in London at 10 Gresham Street, EC2 for a total of £200m to Malaysia’s state pension fund, representing an initial yield of 5.25%. The building ... Read more
St Modwen Properties is now focusing on development profits for 2013 and beyond, after making progress on its current commercial land and development projects to the point where its pipeline is secure for 2012 “and expected to deliver profits ahead ... Read more
British Land announced today that it has sold the Beehive Centre for £109.2m to Orchard Street Investment Management. The 238,000 sq ft part open consented retail property in Cambridge comprises 16 units with an Asda food store as the anchor store. ... Read more
At last week’s World Retail Congress, Sir Philip Green said there were too many retail outlets chasing too few shoppers, with the number of customers remaining flat since the financial crisis. “It’s a competitive market place with too many shops,” he ... Read more
British Land has sold seven food stores for a total of £118m, of which its share is £62m, to institutional investors at net initial yields of between 4.95% and 5.7%, in line with March valuations. The company, which was represented by Morgan ... Read more
NewRiver Retail last week announced it had received detailed planning approval for the major redevelopment of its Forum Shopping Centre in Wallsend. The 91,000 sq ft retail property near Newcastle will be modernised and extended to include ... Read more
The future of retail involves bricks and mortar as well as online sales, says CBRE. Multichannel retailing – where retailers use a variety of ways to do business with consumers, including in-store, online via computer and mobile apps – is set to ... Read more
Next year is forecast to bring an upturn in UK shopping centre development, says Cushman & Wakefield, with nearly 175,000 sq m of new shopping centre space in the pipeline for 2013. The development pipeline has ground to a halt this year amid ... Read more
Hammerson has exchanged contracts to acquire the Victoria Quarter in Leeds for £136m to complement its plans for the first phase of the Eastgate Quarters scheme. This development is next to the Victoria Quarter, and the company says this purchase ... Read more
The uncertainty about future growth and stability is “clearly weighing on the minds of occupiers, developers and investors,” says Cushman & Wakefield in its latest property market research, noting that yields have continued to drift outwards in ... Read more
