- issuesPublished: 17 July, 2008
This month I was all prepared to write about the need for general and asset managers to seek business experience and marketing acumen. There is a real need for the humble management surveyor to grasp the nettle and drive shopping centres forward. We should be long beyond reactive management, but in a lot of cases I just don't see it in practice.
(Page 8: 320 words) - Passion for fashionPublished: 17 July, 2008
Since Land Securities bought the galleria in Hatfield in October 2005, the factory outlet centre - located above the M1 motorway in Hertfordshire - has been transformed into a real success story with a marked increase in visitor numbers, dwell time and non-food spend.
(Page 24: 795 words) - Jones Lang LaSalle buys Churston HeardPublished: 10 July, 2008
The wave of consolidation sweeping the agency business has continued with Jones Lang LaSalle purchase of Churston Heard, the UK’s biggest independent retail consultancy. Churston Heard employs 80 people and offers a full range of retail services including agency, town centre and out-of-town retail; rent reviews; management; investment, development and shopping centre management.
(363 words) - Asset sales and refinancing relieve pressure on The MallPublished: 25 June, 2008
Capital & Regional’s troubled Mall shopping centre fund has bought itself some breathing space with the sale of three of its centres – albeit at a reduced price – and a corporate refinancing which means the fund is no longer in danger of breaching its loan-to-value covenants.
(348 words) - Attitude adjustmentPublished: 16 June, 2008
Two years down the line since the last piece of research was carried out, Shopping Centre has again teamed up with the UK's leading destination marketing agency for retail, travel and leisure, Fox Kalamaski, to undertake another survey into the attitudes of people in the shopping centre profession.
(Page 4: 729 words) - viewpointPublished: 16 June, 2008
When the wraps finally came off Liverpool One a fortnight ago it was immediately clear that Grosvenor and its development team have created an architectural triumph. The scheme has a real sense of place and has created some very attractive spaces in the middle of a busy city centre.
(Page 4: 333 words) - Reach for the starsPublished: 16 June, 2008
Customers have been flocking to County Square in Ashford, from across the region since ING opened the extension to the Kent scheme in March, almost doubling the size of the existing shopping centre.
(Page 34: 1093 words) - Knight Frank buys Markham Vaughan GillinghamPublished: 09 June, 2008
Knight Frank has substantially strengthened its retail exposure with the acquisition of specialist retail agency Markham Vaughan Gillingham. MVG’s 12 strong team is currently advising on more than 9.5 million sq ft of shopping centres and has a strong national reputation in retail, out of town and retail warehousing, and factory outlet centres.
(169 words) - C&R unveils Mall refinancing packagePublished: 30 May, 2008
Capital & Regional has unveiled plans to raise new equity for its troubled Mall fund, the UK’s biggest owner of community shopping centres. It will offer the unit holders in the fund new units at a deeply discounted price in a bid to raise £286m which would allow it to pay off a bank loan where it was in danger of breaching its loan-to-value covenant.
(235 words) - British Land outperforms but fears retailer slowdownPublished: 20 May, 2008
British Land unveiled better-than-expected results for the year to 31 March 2008, outperforming the IPD benchmark, however the rise in valuation yields hit the company’s £14bn portfolio hard.
(310 words) - Valuers turn the screw on mallsPublished: 19 May, 2008
The continued slump in shopping centre values is putting owners under pressure, with both Capital & Regional and Capital Shopping Centres having to report gloomy news to shareholders.
(Page 1: 379 words) - Promotion Space buys BrandspacePublished: 19 May, 2008
Promotion Space Group has confirmed its position as the UK's leading shopping centre commercialisation specialist by acquiring its main competitor, London-based Brandspace. Brandspace CEO Paul Soanes will join the Promotion Space board as group business development director.
(Page 1: 109 words) - The key to successPublished: 19 May, 2008
With 50 million sq ft of development space due to be delivered by 2012 and with consumer confidence at a 15-year low, the key to success for both developers and retailers could lie in targeting those consumers who are immune to the credit crunch, according to CACI's latest Retail Footprint survey.
(Page 4: 847 words) - On the moneyPublished: 19 May, 2008
Manchester has witnessed one of the UK's biggest city centre transformations in recent years, with an investment in retail, leisure, sport and conference facilities assisting in whizzing the city into the top three spot in the UK for people to visit.
(Page 14: 728 words) - Centres back on the shopping listPublished: 21 April, 2008
A number of influential analysts have defied the market gloom to predict that retail will turn out to be the top-performing property sector this year.
(Page 1: 278 words) - King Sturge buys Glasgow-based Hamilton GlenPublished: 21 April, 2008
As part of its continuing growth into the retail sector, King Sturge has bought the Glasgow-based niche retail property specialist Hamilton Glen, which is led by Fiona Hamilton.
(Page 1: 100 words) - Rates risePublished: 21 April, 2008
The Government's new legislation on Empty Property Rates will drive down commercial property values, will fail to incentivise development and reduce the availability of property in the marketplace, according to a new survey by commercial property consultant Lambert Smith Hampton.
(Page 4: 956 words) - On the buttonPublished: 21 April, 2008
As only the second out-of-town retail mall ever to be built in the country, after Brent Cross, Hempstead Valley shopping centre in Gillingham, Kent, is celebrating its 30th birthday this year.
(Page 12: 897 words) - JJB takes axe to store portfolioPublished: 16 April, 2008
JJB Sports is to close 72 stores in a radical restructuring of its property portfolio. At the same time 40 of its remaining stores have been earmarked for refitting.
(170 words) - Ethel Austin enters administrationPublished: 16 April, 2008
The 300-stong value fashion chain Ethel Austin has been placed in administration, joining the growing list of retail failures as consumer confidence takes a dive. Philip Duffy and David Whitehouse, partners from Menzies Corporate Restructuring, have been appointed joint administrators.
(175 words) - Retail sales turn negative after Easter wash-outPublished: 15 April, 2008
Retail sales turmned downward for the first time in two years in March, according to the latest Retail Sales Monitor from KPMG and the BRC. UK retail sales fell 1.6 per cent on a like-for-like basis during the month. The decline was the worst since July 2005 when cold wet weather hit sales.
(314 words) - King Sturge buys Hamilton GlenPublished: 15 April, 2008
As part of its continuing growth into the retail sector, King Sturge has bought the Glasgow-based niche retail property specialist Hamilton Glen, which is led by Fiona Hamilton.
(180 words) - Investment slowdown intensifiesPublished: 03 April, 2008
Shopping centre investment activity has slumped 70 per cent year-on-year according to new data from Knight Frank. The agent calculates that just seven shopping centres worth £276.35m changed hands during the first quarter of 2008.
(196 words) - Optimistic outlookPublished: 02 April, 2008
What a way to start a conference. The worst financial crisis for 60 years; America said to be in recession. Cheap oil, cheap food, cheap commodities gone; real inflation in the UK around 9 per cent; and, according to Asda, a drop in consumer disposable income of 3.5 per cent - £5 less a week to spend.
(Page 4: 1106 words) - ShowdownPublished: 02 April, 2008
The Facilities Show 2008 provides a networking arena for the retail and shopping centre industry to meet thousands of key representatives within the FM industry.
(Page 40: 692 words)
Dockside Outlet, Chatham
Matrix docks at Chatham outletPublished: 31 March, 2008Matrix Group has taken over management of the Dockside Outlet in Chatham, Kent. The new management aims to inject new impetus into the scheme, which has struggled since opening five years ago.
(168 words)- Retail warehouse voids soarPublished: 31 March, 2008
Out-of-town vacancies have risen sharply over the past year to reach 8.3 per cent of total stock, according to the Definitive Guide to Retail and Leisure Parks 2008, produced by Trevor Wood Associates in conjunction with Savills.
(320 words)
Kamppi Shopping Centre, Helsinki
UK Investors flip European mallsPublished: 26 March, 2008UK investors Boultbee and London & Regional have taken substantial profits on malls in Finland and Russia.
(307 words)- Henderson and McArthurGlen buy Belgian outlet mallPublished: 12 March, 2008
Henderson Global Investors' European Outlet Mall Fund has raised €245m from institutional investors at its third closing, and it has just bought the Factory Outlet in Messancy, Belgium for €12m. The deal brings the fund's total assets under management to around €870m, roughly half way to its target size.
(312 words) - Barber ousted at Capital & RegionalPublished: 10 March, 2008
Capital & Regional chief executive Martin Barber has stepped down from the company he co-founded 30 years ago. Amid rumours of a boardroom rift after the share price slumped 70 per cent in just under a year, the company has brought in Hugh Scott-Barrett as Barber’s replacement.
(193 words) - King Sturge wins Dolcis disposal instructionPublished: 21 February, 2008
KPMG, the administrator of failed shoe retailer Dolcis, has appointed King Sturge to market 42 stores that are surplus to requirements following last week’s sale of the brand to rival chain Stylo.
(133 words) - How can the Gulf go green?Published: 18 February, 2008
Dubai has the unfortunate reputation of being a gas-guzzling and energy-profligate society, the epitome of unsustainable living. Large indigenous oil reserves mean that oil is cheap and energy is worth little. The citizens of Dubai are among those generating the largest amount of waste per head in the world. Despite this, some of the city's major mall owners are considering ways to respond to environmental and sustainability challenges.
(Page 4: 717 words) - Reaching highPublished: 18 February, 2008
Chelmsford has long been known as the shopping 'mecca' of mid-Essex. Currently serving a population that stretches as far out as Brentwood to the south and Braintree to the north, the town has two modern shopping centres at its heart: High Chelmer, which was built in the early 1970s, initially as an open-air scheme, and The Meadows, which opened in 1992 at the south end of the High Street.
(Page 30: 1981 words) - Out-of-town market bottoming out, says SavillsPublished: 25 January, 2008
The investment slump in the retail warehouse sector could be coming to an end, according to new research from Savills. The firm believes the sector has seen the bulk of its correction in pricing and predicts that prime retail warehouse yields will only soften by approximately 0.25 per cent before they stabilise later in 2008.
(316 words) - Dolcis enters administrationPublished: 22 January, 2008
Nationwide shoe retailer Dolcis has become the first major retail casualty of the new year after the company, which has 185 stores across the UK, was placed in administration.
(140 words)
Multi's Paul Sargent joins BCSC board
Six join BCSC boardPublished: 22 January, 2008Six new directors have been elected to the board of the shopping centre trade body BCSC, filling vacancies that have occurred in the past year.
(108 words)- Commercial property suffers worst month on recordPublished: 16 January, 2008
The influential IPD UK Monthly Index has seen its biggest monthly fall since records began 21 years ago, slumping by 3.7 per cent during the month of December 2007 alone. Capital values fell by 4.2 per cent during the month.
(173 words)
Blooming BrunswickPublished: 15 January, 2008An idea that was developed back in the late 1960s is now operating to its full potential in the centre of Bloomsbury, London.
(Page 20: 723 words) - C&R valuations underline investment slumpPublished: 14 January, 2008
Capital & Regional has taken another valuation hit on its three UK property funds, underlying the slump in investment values over the past 12 months.
(203 words) - M&S results trigger concern over retail salesPublished: 09 January, 2008
Marks & Spencer has seen its share price slashed by 18 per cent to 410p on the back of disappointing Christmas figures – with like-for-like sales down 2.2 per cent over the 13 weeks to December 29.
(338 words) - Solid approachesPublished: 14 December, 2007
Two of the UK's leading shopping centre owners - Land Securities and Lend Lease - have signed new management contracts, reflecting the search for innovation and the wider trend towards consolidation in the facilities management business.
(Page 4: 673 words) - Barber to step down at Capital & RegionalPublished: 06 December, 2007
Capital & Regional, manager of the Mall, Junction and X-Leisure retail property funds, has announced that its chief executive Martin Barber is to step down in August 2009 when he reaches the age of 65.
(112 words) - A unique offerPublished: 13 November, 2007
Manchester city centre has benefited from huge investment over recent years with the city consistently appearing in the top three destinations within the UK retail hierarchy.
(Page 14: 774 words) - Good incentivePublished: 13 November, 2007
The term 'facilities management' or FM is widely used and often misused. In simple terms it can best be summarised as providing and maintaining the working environment - or put another way, the total management, delivery and budget-holding for all non-core services.
(Page 22: 778 words) - One focusPublished: 13 November, 2007
Shopping centres across the UK are reaping the benefits of transferring to an integrated services provider.
(Page 24: 765 words) - A time to celebratePublished: 14 September, 2007
Opened as one of the original Arndale Centres back in 1967, the Crossgates Centre in Leeds will celebrate its 40th birthday on September 21.
(Page 16: 754 words) - Multi-level shoppingPublished: 10 September, 2007
Accessibility and customer flow are important considerations for multi-level shopping centres and as such fitting escalators and lifts into new and existing centres can often take a lot of forward thought and planning.
(Page 14: 1106 words) - Canary Wharf's Waxer wins top awardPublished: 06 September, 2007
Camille Waxer, head of retail at Canary Wharf Group, has won the prestigious 2007 Harper’s Bazaar & Aquascutum Businesswoman of the Year award. This is the fifth year the awards have taken place and the first time they have been sponsored by British luxury fashion brand Aquascutum.
(197 words) - Land Securities ponders break-upPublished: 05 September, 2007
Land Securities has confirmed to the Stock Exchange that it is conducting a review of its business structure. The announcement came in the wake of press reports that the company has appointed Citi to advise on options that could include a break-up of the business. At the moment Land Securities operates in three markets: retail, offices and the Trillium outsourcing business.
(132 words) - BRC condemns 'sham' rates consulatationPublished: 11 July, 2007
The British Retail Consortium has slammed the government's consultation on empty business rates as a sham.
(165 words) - A done deal for DTZ and DonaldsonsPublished: 10 July, 2007
DTZ’s has completed its purchase of Donaldsons, paying £39.8m up front plus a deferred payment of £8.8m. Of this £20m is in cash and the rest in DTZ shares. By Autumn 2007 the Donaldsons brand will disappear to be absorbed into DTZ.
(261 words) - United KingdomPublished: 01 July, 2007
With an increasing number of houses being built in Glenrothes to cater for the ever-growing population, the town's Kingdom shopping centre, owned by CIS, is keeping up with the times with plans for major expansion works.
(Page 12: 1224 words) - Coming of agePublished: 01 July, 2007
Today's technology is delivering much more towards the development of better solutions for facilities managers across a wide range of areas, including security, operational cost efficiency, sustainability and corporate social responsibility.
(Page 15: 561 words) - Meadowhall stages phased reopening after floodsPublished: 29 June, 2007
Meadowhall Shopping Centre remains partially closed almost a week after the catastrophic flooding that hit Sheffield. The upper malls reopened on Monday 2 July after losing six days' trade but other parts of the centre remain closed.
(188 words)
Susan Harris of Frenchgate Doncaster receives her SCEPTRE Award
SCEPTRE winners celebrate at The DorchesterPublished: 21 June, 2007The Dorchester hotel on London's Park Lane was the glittering setting for last night's SCEPTRE Awards, recognising best practice and the best people in the shopping centre industry.
(411 words)- Landlords victorious in Powerhouse casePublished: 02 May, 2007
A key High Court judgement has successfully upheld landlords' rights to enforce rental guarantees underwritten by their tenants' parent companies. The electrical retailer Powerhouse had been attempting to walk away from its lease obligations on 35 UK stores but the judgement means it will now be forced to pay rent on the stores, and other retailers will be blocked from exploiting an apparent loophole.
(228 words) - High Court rulingPublished: 01 May, 2007
A key High Court judgement has successfully upheld landlords' rights to enforce rental guarantees underwritten by their tenants' parent companies.
(Page 3: 640 words) - A trained eyePublished: 01 May, 2007
At over a million sq ft thecentre:mk in Milton Keynes is one of the UK's biggest shopping centres. Its 230 retail units attract over 30 million visitors per year and that puts real stress on the floors and other finishes. That in turn means cleaning is a top priority and the centre has learned that cleaning is a people business.
(Page 18: 740 words) - Pitt StopPublished: 01 May, 2007
Despite being sited close to Birmingham city centre and the enormously successful Bullring, The Fort shopping park continues to pull in the crowds.
(Page 20: 829 words) - RICS launches service charge campaignPublished: 12 April, 2007
As the new code of practice on service charges comes into force, the RICS has launched a new campaign to ensure compliance among its members.
(376 words) - Volunteers pleasePublished: 01 April, 2007
The government has again threatened to legislate to ban upwards-only rent reviews unless landlords voluntarily adopt more flexible leasing terms. Unveiling the new code of practice on commercial leases, Housing and Planning Minister Yvette Cooper warned: "We believe the code should have the chance to work but legislation is an option if it doesn't succeed and we will be monitoring it closely."
(Page 4: 908 words) - Data analysisPublished: 01 April, 2007
Shopping centre owners are becoming more sophisticated in the way they use their footfall figures, according to an expert in the industry.
(Page 16: 1063 words) - Cooper threatens legislation on commercial leasesPublished: 28 March, 2007
The government has again threatened to legislate to ban upwards-only rent reviews unless landlords voluntarily adopt more flexible leasing terms. Unveiling the new code of practice on commercial leases, Housing and Planning Minister Yvette Cooper warned: “We believe the code should have the chance to work but legislation is an option if it doesn't succeed and we will be monitor it closely.”
(343 words) - British Land and Tesco in new £650m JVPublished: 21 March, 2007
British Land has increased its commitment to the superstore sector with a new £650m joint venture with Tesco. This is the fourth such partnership between the REIT and Britain’s biggest retailer and the two now have over £1.8bn invested in four retail parks, three shopping centres and 34 Tesco stores.
(177 words) - Driving successPublished: 01 March, 2007
Driving Your Business was the theme for this year's BCSC Management Conference, which focused on ways that centre managers can continue to succeed in a rapidly changing and more demanding environment.
(Page 3: 604 words) - viewpointPublished: 01 March, 2007
So there are to be two new members of the millionaire's club - that exclusive band of shopping centre managers responsible for properties of over a million sq ft - in the form of Andrew Parkinson who is moving from Touchwood to Bluewater and of Robert Goodman, who is moving from airport operator BAA to take over the reins at thecentre:mk.
(Page 4: 322 words)
The fruits of labourPublished: 01 March, 2007West Orchards is one of three covered centres in Coventry city centre. Dating from 1991, the centre provides 206,000 of retail space across three trading levels, anchored by Debenhams, Marks & Spencer and WH Smith.
(Page 20: 1461 words) - New Bluewater chief appointedPublished: 27 February, 2007
Lend Lease Retail has appointed Andrew Parkinson as the new general manager of Bluewater in Kent. The move is one of a series of new appointments at the shopping centre specialist.
(178 words) - Touch of classPublished: 01 February, 2007
Five years after opening, Touchwood in Solihull is now a mature centre. The 650,000-sq ft retail and leisure scheme has become well-established in the West Midlands retail scene, and since opening it has pushed the town up from sixth to third in the regional hierarchy.
(Page 3: 496 words) - the agentPublished: 01 February, 2007
A client phones to say, "We're selling one of our shopping centres, but don't worry, we complete in three weeks, so you have plenty of time...and by the way, your services may no longer be required!"
(Page 7: 307 words) - Going internationalPublished: 01 February, 2007
Have they fitted a revolving door at Heathrow? One Australian owner, Stockland, is arriving in the UK just as another, Multiplex, looks likely to be taken out.
(Page 7: 576 words)
Food feedbackPublished: 01 February, 2007I was keen to show one of my colleagues the Brunswick Centre in Bloomsbury, the new Allied London mixed-use development, which contains a range of foodservice operations including Carluccio's, Strada and Giraffe, in addition to a Waitrose supermarket and retailers such as Hobbs, Coast and LK Bennett.
(Page 7: 343 words)
Peak conditionPublished: 01 February, 2007While corporate social responsibilty is a relatively new subject to be pushed forward by the BCSC, it is a key issue that has been on the lips of staff at Crystal Peaks for years.
(Page 16: 867 words) - 600 stores back on market as two retailers crashPublished: 04 January, 2007
More than 600 shops came back to the market yesterday as the December Quarter Day and tough Christmas trade took its toll. The Greeting Card Group and Music Zone have both gone into administration.
(170 words)
Have headline rents in shoping centres started to fall?
- Spalding outlet springs into life
- Orchard Street signs five at Gretna Gateway
- Tiffany and Mulberry sign at Westfield London
- Quakers Friars restaurant line up complete
- Bouverie Place goes on site in Folkestone
- ING Britannica signs three in Oldham
- Capital growth
- Thurrock Decathlon in make or break for sport...
- Tesco and Next anchor Imperial Park extension
- Hercules sells Colne Valley Retail Park, Watford



