‘Retail Apocalypse’ is getting darker for UK landlords

The collapse of mall landlord Intu Properties Plc is about to send shockwaves through a sector that’s already reeling. Nine of the U.K.’s biggest shopping centers could potentially be sold into a market that had already seized up before the virus struck. With the tenants of those properties only paying a fraction of their rent as the pandemic deepens a prolonged retail crisis, the risk they’re sold at knock-down prices threatens to further sink the values of malls nationwide. And that all assumes one key factor: somebody wants them in the first…

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CGI of Cameron Toll shopping centre expansion

Cinema complex in Edinburgh shopping centre recommended for approval

Plans for a new ten-screen multiplex cinema development in Cameron Toll should be approved, Edinburgh City Council’s Chief Planning Officer has recommended. The proposed cinema would be built as an extension to the existing Cameron Toll Shopping Centre and will include a separate restaurant, retail and GP practice. The cinema would be operated by Empire Cinemas and built on what is currently the shopping centre’s car park. If the development goes ahead there will be a loss of 128 parking spaces, however new racks for bicycles will be installed. While…

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intu's Lakeside Shopping Centre

UK mall giant intu collapses into administration

Shopping centre owner has collapsed into administration after failing to reach an agreement over its debt with lenders as a range of asset managers are understood to be lining up to take over the running of the shopping centre portfolio including British Land and M&G Real Estate. The company said shares listed on the London and Johannesburg stock exchanges had been suspended. Administrators KPMG have been appointed to oversee the process and will keep its shopping centres open and trading. Intu said: “Discussions have been ongoing with financial stakeholders to achieve…

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