Property News – Page 2
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Shaftesbury boosts F&B offering at Seven Dials
WatchHouse Coffee and Aspirational Brands are among the operators broadening the offering within Seven Dials.
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Punch hungry for acquisitions
The Fortress-backed pub company is looking for high quality pubs that fit its “modern, progressive vision”
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New signings at Hammersmith and Fulham
CBRE Investment Management has signed Oseyo, Joe & The Juice and Black Sheep Coffee across retail and leisure destinations, Hammersmith Broadway and Fulham Broadway
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Shaftesbury makes 60 new signings
The demand from operators coincides with what the landlord described as the rapid recovery in footfall and sales across its West End locations
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Shaftesbury hails ‘remarkable bounce back’
The West End landlord reported a sustained recovery in central London footfall, with weekends currently back to 2019 levels, and weekdays at c.80%
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Shaftesbury commits to net zero by 2030
West End property landlord Shaftesbury has committed to becoming a net zero carbon business by 2030 and will be carbon neutral for its own corporate emissions by 2025.
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Itsu ‘courageously’ expanding its reach
Property director Vishal Talreja has hailed Itsu’s partnership with Pizza Hut Restaurants for unlocking access to new areas such as retail parks and market towns
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Popeyes hope to ‘break the internet’ in the UK
The team behind Popeyes see the UK market is the most exciting new international territory for the fried chicken brand, MCA’s Restaurant Conference has heard.
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Business rates relief will have ‘limited benefits’
The Chancellor’s Budget announcement has been described as “underwhelming” as it is limited to a maximum discount of £110,000.
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UKHospitality requests urgent meeting with the Treasury
Government plans for a major overhaul of business rates have been “thrown into the long grass”, according to reports
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BPF proposes reforms to business rates revaluations
The British Property Federation (BPF) has proposed the government introduce annual business rates revaluations, describing the current system as “broken”.
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Rent collection improves during Q2
According to data from Remit Consulting, the collection of rent from commercial property tenants has continued to improve. Remit’s data suggests the ‘leisure sector’ has seen a marked improvement in rent payments during Q2. A quarter of tenants were said to have paid on time and within 21 days of payment due date, 49.5% of rents had been collected. In the March quarter, the equivalent figure stood at 38.4%.
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Corbin & King in legal battle over rent debt
Corbin & King, the operator of The Wolseley, is currently in a legal battle with its landlord STJ Investments over an unpaid rent debt of c.£1 million which has built while the restaurant was closed during Covid-19 lockdowns. The landlord has tried to evict the Wolseley by taking Corbin & King to court and is now claiming that the Wolseley had illegally sublet the premises. Corbin & King says the claim is ‘spurious’.
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Hospitality rent collection levels on the up
An increasing number of restaurants and cafes have been able to pay their rent over the three weeks following June quarter day, according to the latest data from property agency Colliers.
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Wetherspoon looks to sell seven pubs
JD Wetherspoon looks to sell seven pubs has appointed CBRE and Savills to sell seven of its pubs.
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British Land to shelve rent concessions
British Land has decided to halt rent concessions for its tenants following an uplift in trading across its properties and the extension of the rent moratorium until March 2022.
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Neat Burger and Urban Pubs & Bars among new Bishopsgate operators
British Land has agreed lettings with Neat Burger, Urban Pubs & Bars, Black Sheep Coffee and Honi Poké at its 155 Bishopsgate development.
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Oakman: Rent write-offs would be unfair
Rent debts should not be written off, as it would penalise operators that have worked hard to pay off their arrears, Steven Kenee of Oakman Group has argued.
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Boxpark to make regional debut
Boxpark, the dining, retail and leisure group, has confirmed its first site outside of London, with the launch of sibling concept BoxHall in Bristol, scheduled for summer 2022.
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Leisure sector sees rent collection levels double
The leisure sector has seen rent payments increase significantly in the two months since March quarter day, with levels up from 18% to 37%, according to new data from Colliers.