Rising demand for retail property gives “renewed optimism” to UK high streets

A rising demand for retail property to be used for leisure and hospitality businesses has given “renewed optimism” for some UK high streets and shopping districts, according to industry experts. The pressure from lockdown measures saw vacancy rates across shopping destinations hit record highs in the second quarter of 2021, with just over 14% of high street store locations remaining empty during the quarter. Shopping centres fared even worse, with vacancy levels sitting just under 20%. Vacancy rates began to level out in the third quarter however, following a surge…

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Landsec in talks to buy Lendlease’s 25% stake in Bluewater for £200m

Landsec is reportedly in discussions with Lendlease to acquire a 25 per cent stake in its Bluewater Shopping Centre in Kent in a £200 million deal. If the deal goes ahead, Landsec will take majority control of the 1.8 million sq. ft Dartford mall, increasing its stake to 55 per cent. Sources familiar with the talks confirmed Landsec and Lendlease are close to agreeing the deal, Property Week reported. Landsec is considering increasing its holding further, potentially taking full ownership of the centre if the remaining shareholders agree to sell. The remaining…

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Hammerson under microscope

Canadian real estate boss takes reins of UK shopping centre giant

Hammerson drafts in Rita-Rose Gagné as its new chief executive Gagné was previously the president of growth markets at Ivanhoé Cambridge Hammerson has appointed the former Canadian president of growth markets at a real estate firm, Rita-Rose Gagné as its new chief executive. Gagné was previously the president of growth markets at Ivanhoé Cambridge where she oversaw real estate assets across Asia Pacific and Latin America. Prior to joining Ivanhoé in 2006, she worked in various property markets across the world, including the UK, France and Germany. Gagné will succeed current…

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