Tags: UK retail

UK retail crisis leaves banks hesitant to fund shopping centres

Investment firm Franklin Templeton had to pull out of a £38m deal to buy an Edinburgh shopping centre after failing to raise bank debt, reflecting growing concern among lenders about the retail industry. Sources said Franklin Templeton had agreed to buy the Cameron Toll centre from Oaktree Capital, but three banks refused to lend. Retail…

Folkestone: cinema plans announced for vacant Debenhams site

A huge town centre regeneration plan has been unveiled with proposals to turn vacant Debenhams into a cinema. Folkestone & Hythe District Council has released the masterplan as the department store announced it would leave Sandgate Road early next year. It is one of four Kent branches to close, with 1,200 jobs threatened nationally. But…

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…