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Retail investment volumes for 2020 are expected to exceed those of 2019, despite Covid-19, a new report from Savills Aguirre Newman suggests.
Since opening their doors on June 15, The Boulevard, Banbridge and The Junction, Antrim, two of Northern Ireland’s largest out-of-town retail schemes, have enjoyed a significant rise in footfall comparable to the same period in 2019 and unlike many high streets, this hasn’t dipped dramatically as the novelty of being out wears off.
First half of 2020 saw a record high investment activity with EUR 3.5 billion of investment transactions closed, including pending transactions at final stage. Although this has been a 30% better result than during the corresponding period last year, achieving this year a similar result to record-breaking volume of EUR 7.8 billion registered last year may be difficult – according to Avison Young.
"Is he unteachable? Or is Dr. Will actually stuck in a repeating time loop with his tenant survey SCPR 2020, just like the misanthropic weatherman Phil Connors in the popular comedy 'Groundhog Day'?"
VIA Outlets – Europe's fastest growing owner-operator of premium fashion outlet destinations – has, as of today, with Freeport Lisboa Fashion Outlet being the last one in line, reopened all closed and semi-closed centres in its eleven-strong portfolio. While the company was advised to temporarily close the majority of its outlets by local authorities in March and April in the wake of Covid-19, three were able to remain open throughout.
Five points emerged at this event that focused on the problems of lease payments in connection with Covid-19. A large and very prominent expert audience followed this online discussion closely.
Business closures and rent losses in the coronavirus crisis have made banks even more cautious about retail properties and shopping centers. In the case of refinancing, portfolio holders have to calculate with higher interest rates and additional equity.
An attempt to explain the current situation faced by retail tenants.
“Fridays for Future, Earth day or the Fashion Revolution Week are just a few examples of a young, global movement that is only just beginning to fight for its market relevance.”
Under the guidance of the German Council of Shopping Places (GCSP), renowned representatives of the retail and retail real estate industry formulated a Code of Conduct, over a short period of several days, as a joint guideline for cooperation during the coronavirus crisis.
“The only good news for stationary retail is that the “digital natives” (can) seize their opportunities only to a certain extent.”
“Ground floor retail will be converted into new businesses: pick-up points for online sales, residential, start-ups.”
Standort + Markt published a second estimate, which focuses on stationary retail‘s anticipated, daily, average loss of revenue at all Austrian shopping places. The results provide solid guidelines for the European retail real estate market in general.
2019 was a real game-changing year for the region’s retail sector with quickly increasing turn overs, new market openings as well as first larger refurbishments. Unfortunately, the current crisis is reshuffling the entire deck.
China is fighting hard with the economic consequences of the coronavirus pandemic, as the country’s industrial production shrinks for the first time in three decades.
Hammerson has exchanged unconditional contracts on the sale of a portfolio of seven retail parks to Orion European Real Estate Fund V for a headline price of £400m with expected net proceeds of £395m.
Lifestyle Outlets, part of Peel L&P, has reported another year of strong results, with growing footfall and sales figures bucking the national retail trend across its two operational centres in Manchester and Gloucester, despite market uncertainty surrounding Brexit and a late General Election.
The report explores how consumers across Europe will be shopping by 2029.
Recruitments, promotions and appointments in the European Retail Real Estate Industry.