Phillip Davies Head of Investment, Landsec. Credit: Landsec
Ticker

Landsec progresses strategy with retail park divestments

Landsec announces the sale of two retail parks, the first divestments from its non-core retail park portfolio since the Group unveiled its new strategy for growth in October last year.

The two disposals, Derwent Howe Retail Park, a 11,148 sq m site located in Workington, Cumbria, and Blackpool Retail Park, were sold for £53.4 million. Landsec sold Derwent Howe Retail Park, Workington to Supermarket Income REIT, whilst the sale of Blackpool Retail Park was agreed with Columbia Threadneedle.

Both transactions are in line with Landsec’s strategy to position the Group for long term growth and create value for all stakeholders. The disposals demonstrate the Group’s commitment to realizing capital in subscale sectors where it has little or no competitive advantage, allowing Landsec to reinvest into new value creating opportunities. Following the disposals, Landsec has seven retail parks remaining in its portfolio.

Phillip Davies Head of Investment, Landsec, commented: “In line with our strategy we have been increasing portfolio recycling as we look to make the most of Landsec’s strengths and invest in areas with greater growth possibilities. Retail parks represent a subscale sector for us and a clear opportunity to realize capital that can be better deployed in areas where we have a competitive advantage such as central London and urban mixed-use regeneration projects.”

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

THE EUROPEAN COUNCIL OF SHOPPING PLACES AND SAFE ASSET GROUP LAUNCH RISK AND RESILIENCE WORKING GROUP

The European Council of Shopping Places (ECSP), the voice for Europe’s retail property sector, has today announced the launch of its new risk and resilience working group. The group was set up in collaboration with SAFE Asset Group, an international advisory and certification organisation and a partner of ECSP

Cushman & Wakefield Hires Ben Binns for Senior EMEA Retail Role

Cushman & Wakefield has appointed Ben Binns as Head of Cross Border Retail Agency, EMEA, the latest strategic senior hire for the firm this year.

SES Spar European Shopping Centers continues to invest in its own power generation

SES is setting up an additional large-scale photovoltaic installation on Top of the Shopping Centers “MARIANDL” in Krems. This marks the third large-scale photovoltaic system for a SES-Centers.

Collaboration is Key to Rebuilding the Retail Ecosystem

Societies have changed, retail has changed, and so must architecture and the real estate industry. “Le 31” has become a model for Redevco’s vision on how to redefine retail and create a connected community of stores, partners, and visitors.

What Does the Permanent Shift in Consumer Behavior Mean for Retail Destinations?

The last two years have shown us that nobody can predict the future, but: Understanding detailed customer behavior and responding with specific value and service are no longer “extras” with respect to the retail business model – they are essential to survival.

Over 40 million products at Kaufland.de

The ever-growing product range: Online marketplace Kaufland.de now offers more than 40 million products from over 8,000 online retailers. In recent months, 10 million new items have been added, especially to the homeware, electronics, kitchen & household product worlds.