Property News
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Property deals held off until New Year
Buyers and vendors are now delaying transactions until 2024 to avoid business disruption over Christmas, according to Christie Group
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New calls to freeze business rates
Analysis by UKHospitality suggests increasing business rates by inflation could increase bills for the hospitality sector by £220 million next year, The Sunday Times reports
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Shaftesbury and Capco merger due to complete next month
The merger between the two British landowners in London has been given the green light by the Competition and Markets Authority
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Capco sees strong trading in Covent Garden
The West End property company, soon to merge with Shaftesbury, said it saw leasing momentum in its targeted categories, including new signings such as Gaucho
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Wetherspoon struggles to offload venues
The pub operator has only sold a handful of the 35 venues it has put up for sale, amid nervousness over the cost of living crisis and uncertain market conditions
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West End sees ‘rapid rebound’ in 2022
Shaftesbury has reported a sustained recovery in confidence and activity, driving growing footfall and spending ahead of 2019 levels.
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CMA to investigate Shaftesbury and CapCo merger
The two landlords reached an agreement on a recommended all-share merger of the two companies in June this year.
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JD Wetherspoon confirms further pub disposals
The pub operator has appointed CBRE and Savills to sell seven further pubs, in addition to the 32 already on the market.
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The Alchemist secures York site
The bar and restaurant group is set to open its first site in York, next year, after securing a 5,000 sq ft space at The Coach House building in the city.
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West End property values fall
The value of commercial property in the West End of London is falling as higher interest rates impact the area’s recovery, however pre-Christmas trading has been strong
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Distrkt: ‘London’s property dynamics have changed’
At MCA and BigHospitality’s Generation Next event, co-founder Camilla Topham discussed the post-pandemic property landscape and the property consultancy’s expectations for next year
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Artfarm acquires The Groucho Club
The Soho private members club joins the Fife Arms in Braemar, Roth Bar & Grill in Somerset, Manuela in Los Angeles and Audley Public House and Mount St. in Mayfair, as part of the Artfarm portfolio
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Loungers: ‘We see lots of opportunity in London’
Openings in Greater London this year to far exceed FY21/22, with its property pipeline remaining “very well advanced”, chief executive Nick Collins has said
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Shaftesbury: Hospitality sales ahead of pre-pandemic
The landlord, which is merging with Capco, said footfall remains good, thanks to domestic visitors, residents and local workers, and growing international tourists
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Arndale reaches 95% occupancy with Creams signing
The dessert cafe brand now has more than 100 restaurants and outlets across the UK
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Capco and Shaftesbury agree to merge
The combined portfolio, located in some of the most “iconic” areas of London’s West End, will be valued at around £5bn, with just over a third of this in hospitlaity and leisure
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Crown Estate warns of volatility in London footfall
The landlord said footfall in central London has remained about 38% below pre-pandemic levels during the financial year ending March 2022
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West End landlords Shaftesbury and Capco close to £3.5bn merger
Central London neighbours in detailed negotiations to combine portfolios to create company worth around £3.5bn, the FT reports
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British Land and Landsec eye shopping centres swap
The landlords have held talks over an £800m asset swap involving Meadowhall shopping centre, the Sunday Times reports
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Recovery on track for Shaftesbury
Following a short-term period of disruption over Christmas, visitors and workers are returning to the West End, said the real estate investment trust