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» Chronological View: " Retail " «

NewRiver acquires 76 community pubs from Star Pubs & Bars at a 17% yield

NewRiver has acquired a portfolio of 76 community pubs from Star Pubs & Bars for £12.0 million (c. €13.4m), representing a net initial yield of 17.1%. The acquisition will use part of the proceeds from NewRiver’s recent disposal of a portfolio of 22 community pubs in October 2018 for £14.8 million (c. €16.6m), sold at a net i...
Friday, 7. December 2018

KGAL acquires an office asset in Fellbach

With the acquisition of a multi-tenant office property in Fellbach near Stuttgart, KGAL is adding another commercial property with long-term lets to its internationally oriented special real estate AIF. The sellers were Braun Vermögensverwaltung GmbH and Hofer Vermögensverwaltungs GmbH.
Friday, 7. December 2018

Interra purchases three properties from M7 and Blackstone

Interra has acquired three properties in Rosswein, Gatersleben and Rockenhausen. The seller is the Onyx Joint Venture of M7 Real Estate and Blackstone, who have possessed the properties in their portfolio since 2017. The portfolio was acquired by the two partners for €1.28 billion and mainly consists of light industrial prope...
Friday, 7. December 2018

LGIM Real Assets launches €95.3m retail scheme in Eastbourne

LGIM Real Assets has launched a new £85m (c. €95.3m) retail and leisure extension which forms part of Legal & General’s £220m (c. €246.6m) retail and leisure scheme, formerly known as the Eastbourne Arndale Centre. The extension has been an important catalyst for the wider regeneration across the town and is primed to create ...
Thursday, 6. December 2018

Meyer Bergman and HOOPP sell Nova Karolina shopping centre

A joint venture between the Meyer Bergman Fund, Meyer Bergman European Retail Partners I and the Healthcare of Ontario Pension Plan (HOOPP) has sold Nova Karolina shopping centre in Ostrava in the Czech Republic to the country’s largest mutual fund, CS Nemovitostní, managed by REICO. The purchase price was not disclosed.
Thursday, 6. December 2018

Berlin's Building Committee rejects Signa's high-rise plans

Signa's development plans at the Kurfürstendamm/corner of Joachimsthaler Strasse were met with harsh criticism and rejection by the Berlin Building Committee under the direction of Senate Building Director, Regula Lüscher. Yesterday, the Senate Department for Urban Development and Housing rejected plans to erect three skyscra...
Thursday, 6. December 2018

Scotland’s retail, offices and alternatives sectors outperform their UK equivalents

Scottish commercial real estate achieved a total return of 1.7% in the third quarter of 2018. This is a rebound from the 1.4% realised in the second quarter, and a return to the same rate of return achieved in Q1, according to data released by leading property consultant CBRE. The main surprise this quarter was a marked impro...
Wednesday, 5. December 2018

Marks & Spencer opens first high street store in Spain

Marks & Spencer (M&S) is opening its first high street store in Spain. The 400 sq m store, which is located on Calle Nueva in Malaga, will be home to the brand’s lingerie line and is the second M&S store in the region; the other is located in La Cañada shopping centre in Marbella. The move from the popular retailer shows fur...
Wednesday, 5. December 2018

Thorpe Park in Leeds welcomes new tenants

Renew Holdings Plc is relocating its headquarters from Main Street, Aberford to Paradigm, 3175 Century Way, Thorpe Park, LS15. Acting on behalf of Renew, Carter Towler’s office agency team identified a number of suitable properties across the east of the city before selecting and negotiating a 10-year lease on 2,580 sq ft of ...
Wednesday, 5. December 2018

La Française acquires QuartierWest retail park in Essen

La Française Real Estate Partners International has finalized the acquisition from Schoofs-Gruppe of the QuartierWest retail park in Essen on behalf of two La Française collective real estate investment vehicles. The retail park is within an established and further developing part within the urban area of Essen. It is part of...
Tuesday, 4. December 2018

Consus signs forward sale agreement for €241m

Consus Real Estate AG has signed a forward sale for the development project ‘Cologneo I’ in Cologne, a development of the subsidiary CG Gruppe AG, to Swiss Life Asset Manager for €241m. Furthermore, the company achieves major development milestones for project and ‘quartier’ developments with a gross development volume (GDV) ...
Monday, 3. December 2018

KKR And Regal London Acquire Strategic New Site In London´s SW9

Developer Regal London and joint venture partner KKR have acquired a strategic new site at 340a Clapham Road, SW9, situated between Stockwell and Clapham North. The site represents Regal London’s and KKR’s first development through their joint venture. Upon completion, the total GDV of the scheme is expected to be in the regi...
Friday, 30. November 2018

Union Square drafts in BrewDog for shopping centre first

Hammerson announces that Scottish Craft Beer Brewer, BrewDog, has opened its first ever bar in a shopping centre, at Union Square in Aberdeen. The new 3,751 sq ft bar, located on the Upper Mall adjacent to Nando’s and Thai street food operator Thaikhun, is a first for BrewDog.
Friday, 30. November 2018

Hammerson completes £236m Highcross sale

Hammerson has completed the sale of the 50% stake in Highcross shopping centre in Leicester to an Asian investor introduced by M&G Real Estate for £236m (c. €264m). As previously reported at the time of exchange (5 October 2018), the sale price represents a 5% discount to December 2017 book value. The completion of the transa...
Friday, 30. November 2018

Future of the high street about rapid evolution rather than mass closures

With House of Fraser entering administration, Debenhams announcing the closure of up to 50 stores and accessories chain Claire’s thought to be following suit, the UK’s high streets are under unprecedented pressure. This year has seen the greatest number of store closures since Woolworths collapsed a decade ago, with 1,500 re...
Friday, 30. November 2018

Intu agrees trio of property disposals for £25 million

Intu has agreed terms for the sale of three properties for a combined value of £25.25 million (c. €28.3m), all of which have been achieved above book value. The sales are part of Intu’s ongoing disposal and capital recycling programme, some of the proceeds of which will be reinvested into its ongoing pipeline of development o...
Friday, 30. November 2018

Bauwert completes Box Seven in Berlin

Catella Property GmbH has brokered, within the scope of a forward deal, the sale of a commercial asset developed by Berlin-based Bauwert AG in the Box Seven district in the German capital to an international family office, represented by Immpex Immobilien Consulting GmbH. The handover of the property has now taken place. Bauw...
Friday, 30. November 2018

Brunswick Real Estate divests grocery store portfolio

Brunswick Real Estate, on behalf of Sveafastigheter Fersen II AB, has divested a 50-property portfolio to the listed property company Tre Kronor. Total gross asset value amounts to SEK 903 million (c. €87m).
Friday, 30. November 2018