One New Change, a shopping centre near St Paul’s in London, was developed by Land Securities. Photo by ALAMY Commercial property Editor's Choice Headlines 

Weak UK retail markets impact Landsec’s property portfolio value

The value of the portfolio of one of the UK’s largest listed property companies fell by more than £500 million in a year because of fallout from the troubled retail sector. Landsec, which owns the shopping centres Trinity Leeds and Gunwharf Quays in Portsmouth, reported a pre-tax loss of £123 million for the year to March 31 after writing down the value of its shopping centres and other assets by £557 million to £13.8 billion. The FTSE 100 developer lost £10 million of rent from retailers over the year as…

Read More
Gillingham High Street -- Wikipedia Editor's Choice Headlines Local Authority Planning & Design Retail 

Business leaders agree, UK high streets must change to meet social needs

The FT City Network is a forum of more than 50 financiers, business people and policymakers. This month, members were asked for their views on the collapse of Debenhams and how the crisis on the high street should be addressed. Questions posed included: What is the problem — online competition, overleveraged private equity ownership structures, or anachronistic business rates and tax rules? Should our high streets be saved and if so, how? Below is a transcript of the responses from those who contributed. Colette Bowe, BSB The story of Debenhams…

Read More