Tag : property
Retailers are only “deferring a problem” by withholding rent payments at this week’s March quarter deadlines, property experts have told Drapers.
Primark is withholding quarterly rent payments, due today, on its leasehold properties in the UK in a bid to prompt ”urgent” conversations with landlords over ongoing rental terms.
Ailish Christian-West, president at property industry body Revo, calls for the government to support retail property owners to stop the “long-term decay of high streets”.
Revo calls for support for landlords Subscription
Property industry body Revo has written to the chancellor Rishi Sunak calling for financial support for retail landlords impacted by rent cuts, amid the ongoing coronavirus crisis.
Income and profits fall for Capital and RegionalSubscription
Shopping centre owners Capital and Regional have announced a drop in net rental income and profits for the year to 31 December 2019, as it battles a market chief executive Lawrence Hutchings described as: “not without it’s challenges.”
Retail property group Capital & Regional has appointed David Hunter as non-executive chairman.
Westfield scales back developmentSubscription
Shopping centre owner Unibail-Rodamco-Westfield (URW) has scaled back its development pipeline and increased its disposal programme as net retail income fell across its UK centres last year.
Intu offloads Spanish shopping centreSubscription
Ailing shopping centre owner Intu has sold Spain’s Intu Asturias for €290m (£245.15m), as the business continues efforts to turn around its fortunes.
Retailers take action on propertySubscription
Retailers are seizing the opportunity to take “decisive action” on their property portfolios in 2020, say experts, as restructurings and company voluntary arrangements continue to put downward pressure on rents.
Arcadia at a Christmas crossroads Subscription
As Topshop CEO Paul Price resigns, and ahead of a slew of lease breaks and the Christmas deadline for the £310m loan repayment on its Topshop London flagship, the future of Arcadia Group looks as uncertain as ever