The owner of the Lakeside and Trafford Centre shopping centres, Intu, has cut its forecast for rental income, blaming the retail downturn.
The shopping centre in Fife which was put up for auction with a reserve price of only £1, has been sold for £310,000.
A dozen different bidders competed for just five minutes to buy it some online, some over the phone and some in the room, before a phone bidder won it.
Shares in the owner of shopping centres including Lakeside and the Trafford Centre have plunged after a £2.8bn takeover bid was abandoned.
Hammerson has completed the sale of the 50% stake in Highcross shopping centre in Leicester to an Asian investor introduced by M&G Real Estate for £236m.
More than 200 UK shopping centres are in danger of falling into administration, experts are warning.
Shopping mall owners on Tuesday said the Chancellor’s move to reduce planning restrictions around combining retail and residential properties will be good for businesses.
Shares in property firm Intu have jumped 13% after it said it was mulling a bid from a consortium of investors.
Billionaire John Whittaker’s attempt to take shopping centre owner Intu private sent the City into a frenzy on Friday as shares jumped almost 30% and caught short-sellers off guard.
Hammerson, the owner of the Highcross shopping centre in Leicester, has sold a 50% share in the mall to an Asian investor.
Manchester based The Peel Group is at the centre of a £2bn deal which would create one of the largest property companies in the UK.
Shopping centres owner Capital & Regional on Tuesday laid bare how much the recent bloodbath on the High Street will cost it this year.
Crompton Place shopping centre has been bought by Bolton Council for almost £15m as it looks to shape the future of the town and drive forward its £1bn regeneration masterplan.
Retail giant Hammerson has abandoned its plans to buy the Trafford Centre and Manchester’s Arndale as part of a £3.4bn deal.
Trafford Centre and Arndale owner intu has reported record levels of retailer demand for its first quarter to 17 April.
Hammerson’s £3.4bn deal to take over intu is “on a knife” edge, according to reports.
If the deal collapses, it could have wide-ranging impact on the struggling retail sector in the UK.
The upper floors of a shopping centre in South Yorkshire have been transformed into 28 apartments following its acquisition last year.
Shopping malls were once dull and airless places, but the best in class have upped the razzmatazz with cinemas and restaurants. They have had to: anything to make sure consumers do not take root on their sofas and shop purely online.
Bosses at Westfield on Tuesday declared they believe in the “resilience of London” despite Brexit, as they opened the first phase of a £600 million expansion at the White City estate.
Shopping centre owner Hammerson, which owns Birmingham's famous Bullring, has agreed a £3.4bn takeover of rival Intu.
The deal will create the UK's biggest property company, worth £21bn.
Shopping centre owner Intu is targeting new developments after selling half of its stake in a Norwich shopping centre, while reporting that footfall across its estate had improved in recent months.
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