
Shares in struggling British shopping centre operator Intu Properties Plc jumped more than 20% on Monday after a report that private equity firm Orion Capital Managers was considering a buyout of the company.
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Shares in struggling British shopping centre operator Intu Properties Plc jumped more than 20% on Monday after a report that private equity firm Orion Capital Managers was considering a buyout of the company.
Just a day after Hammerson and APG said they’re taking full control of Via Outlets, comes news that the UK mall operator may be mulling the sale of its £1.9 billion stake in Value Retail, the Bicester Village owner.
Hammerson and APG, the two main partners in premium outlet malls operator Via Outlets, said Tuesday that they've added to their stakes in the company to take full control.
Designer kidswear destination Base is gearing up to open its first store outside the South East at Grand Central, Birmingham, this October. The new store will be the brand's seventh in the UK.
Malls that Hammerson part owns are continuing to attract premium names as tenants and particularly in the upscale beauty segment that remains buoyant at present.
Requests from successful retailers for rent reductions could fall on deaf ears as far as shopping malls giant Intu is concerned. Its CEO said it won't bow to demands to cut rents as businesses seek a level playing field.
Global shopping malls giant Unibail-Rodamco-Westfield has reported solid results, but its UK operations (the London Westfield malls) suffered from the same problems we heard about at rivals Hammerson and Intu this week.
Intu had a tough time in the first half and it expects more pain to come. So it has launched a new strategy that aims to transform its fortunes and help it maximise income in a multichannel world.
The luxury lifestyle brand will be opening its first store in Southampton at Hammerson’s Westquay later this year. The new 6,500 sq ft store is expected to open in time for Christmas.
UK property giant Hammerson reported its half-year results on Monday. But importantly it also said that it had sold a 75% stake in Paris shopping destination Italie Deux for a total of £423m (€473m).