Shopping Centre news and archive

Unibail-Rodamco-Westfield sells partial stake in shopping centre Forum des Halles

CDC Investissement Immobilier, a subsidiary of the French public sector financial institution Caisse des Dépôts (CDC), has acquired a 15 percent stake in Forum des Hall. The agreement signed with Unibail-Rodamco-Westfield (URW), the current owner of the iconic Parisian shopping centre, reflects a net sale amount of 235 million euros. The...

Retail

Landsec secures 92 percent stake in Liverpool One

Real estate firm Landsec has announced the acquisition of a 92 percent stake in UK shopping centre Liverpool One, for an overall consideration of 490 million pounds. The stake was snapped up from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), which previously held a 69 percent stake, and property group Grosvenor, which...

Retail

Queens Center in New York announces five new retail openings

Queens Center, a leading shopping center in Elmhurst, New York, operated by Macerich, has announced the addition of five new retail stores, including Gap, Primark, and H&M. Leading retailers Gap, Warby Parker, and Kiko Milano recently opened locations at the shopping center, while fashion brands Primark and H&M are set to open stores by the end...

Report

Frasers Group snaps up Lancaster’s St Nicholas Arcade

British fashion giant Frasers Group is continuing to expand its portfolio of retail setups with the acquisition of Lancaster-based shopping centre, St Nicholas Arcade. The deal involves the entire 160,000 square foot retail park, where annual footfall reportedly amounts to four million visitors. Frasers said that the acquisition reinforced its...

Retail

H&M to open at The Shops at Brickell City Centre, Miami

Swedish fashion giant H&M is set to open a new location at The Shops at Brickell City Centre (BCC), one of Miami's leading retail and lifestyle destinations developed by Swire Properties. Joining the likes of Zara, Levi's, Chanel Fragrance, and more, the new store is set to enhance the current retail offering at BBC. The move also sees The Shop...

Business

Newcastle’s Eldon Square unveils major 65 million pound revamp

Newcastle’s primary shopping centre Eldon Square is set to undergo a major overhaul in the coming year, banking on leisure, entertainment and dining as a means to bolster footfall. The reported 65 million pound redevelopment will see the introduction of new cultural, food and drink, sport, leisure and entertainment venues at the location, much...

Retail

URW reveals development plans for Westfield Old Orchard in Illinois

Unibail-Rodamco-Westfield (URW) has unveiled an array of development plans for its Westfield Old Orchard site in Skokie, Illinois. The company said the North Shore destination will be “unlike anything else in Chicagoland”, with a park, event space and various amenities to be added to the modernised retail centre. The multi-phase plan already...

Retail

URW set to open three new Westfield flagships throughout Europe

Unibail-Rodamco-Westfield (URW) has announced it will be furthering the roll out of its Westfield brand into Spain, Sweden and Poland. In autumn, the retail group will be rebranding three of its centres into Westfield flagship stores, including Parquesur in Madrid, Taby Centrum in Stockholm and Galeria Mokotow in Warsaw. It comes as part of URW’...

Report

Impact of Brexit on the rebound as footfall increases 31 percent year-on-year

The impact of the EU Referendum vote on consumer footfall and shopping centre spend is said to be on the rebound according to the latest figures from CRM platform and mobile loyalty provider Coniq. However, there are a number of areas across the UK which are still struggling with the uncertainty of what effect the Brexit will have. Overall...

Report

Rise in footfall breaks through clouds hanging over UK high streets and retail parks

A slight rise in footfall during the month of May has been hailed a temporary break through the clouds, as visitor numbers increased 0.3 percent year on year last month. High streets and retail parks alike enjoyed a boost in visitor footfall in May, driven by the three day bank holiday weekends, according to the latest data from the...