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Capital Shopping Centre partnership could add 3,000 jobs to retail sector Tuesday, 16th October 2012
Capital Shopping Centres has launched a new partnership initiative with Reid Kerr College in Paisley that could provide 3,000 retail jobs in the area. Operator of Lakeside, Trafford Centre and MetroCentre, CSC will work with the local college to deliver a range of retail training course at its Braehead shopping centre in Renfrewshire.
Capital Shopping Centres sees rents drop 2.3% Thursday, 26th July 2012
Like-for-like net rental income fell 2.3 per cent during Capital Shopping Centres’ (CSC) first half, as retailers suffered another six months of tough trading. CSC, which owns 15 of Britain’s largest shopping centres, said the figure came in at £181.8 million in the six months to 30 June, with rental increases offset by tenant failures.
Capital Shopping Centres sees decline in occupancy and footfall Thursday, 26th April 2012
Both occupancy and footfall across Capital Shopping Centres fell for the group’s first quarter, as a tough economic climate took its toll on shoppers. The Trafford Centre and Lakeside owner saw occupancy rates decline two per cent to 94.3 per cent for the first quarter of 2012, when compared with the final quarter of 2011.
Meadowhall on sale for £1.4bn Friday, 10th February 2012
A majority stake in Sheffield’s Meadowhall shopping centre is likely to value the mall at £1.4 billion or more. British Land is looking to put half of its 50 per cent stake in the 1.4m sq ft property, at the same time as its joint venture partner London & Stamford, who is also putting its 50 per cent stake on the market.
Christmas shopping sales snowball as retail sees record breaking week Monday, 12th December 2011
At long last retailers are starting to see momentum in Christmas shopping pick up, as consumers turn to tried and trusted brands to complete their holiday purchases. John Lewis, one of the best-known bellwethers on the high street revealed record sales last week at the Christmas shopping season kicked into gear.
CSC plans for Lakeside 2.0 Friday, 21st October 2011
Capital Shopping Centres (CSC) has begun public consultations on its plans to extend the Lakeside shopping centre in Thurrock during a £180 million makeover. The proposals include an extension housing an additional 40 new shops, new flagship stores and an integrated transport hub. CSC will now turn to local residents and shoppers to find out their views on the changes at a public exhibition in the centre.
REIT results show resilience Friday, 5th August 2011
Several leading property companies’ results this week have highlighted resilience in retail rents and occupancy that defies wider high-street gloom.
Estates Gazette this morning reported that retail administrations have been less marked in the better centres owned by the likes of British Land, Hammerson and Capital Shopping Centres. However, the Financial Times notes that numbers mostly show resilience rather than strong growth.
Oriel Securities said estimated rental values increasingly looked like they were “defying gravity” and were a measure that investors should watch closely. The Financial Times says the more retailers come under pressure, the greater will be the need to rationalise portfolios of stores into the best-performing locations. This should continue to benefit larger companies at the expense of high streets.
CSC warns: it's not over yet Wednesday, 3rd August 2011
Capital Shopping Centres (CSC) has warned the economic environment remains challenging at its interim results announcement, according to Estates Gazette.
Rental income rose 32% to £178m and pretax profit fell from £219.5m to £184.5m. NAV climbed marginally to 391p a share. The UK’s largest owner of retail sites signed 80 new leases during the period. CSC closed down 3.5p at 369.75p. British Land closed up 5p at 587p after five consecutive trading days on the slide.
Capital Shopping Centres performs well in the half year Tuesday, 2nd August 2011
Property developer Capital Shopping Centres (CSC) has reported that retail like-for-like (LFL) sales in its centres are up bu 3 per cent in the six months to 30th June.
CSC also said that footfall was up by 3 per cent, beating a national average decline of 1 per cent. Occupancy levels have fallen 1% to 97%, reflecting “a number of tenant failures around the June quarter date and the seasonal effect following Christmas”, according to the developer.
[caption id="" align="aligncenter" width="440" caption=" CSC acquired the Trafford Centre in Manchester earlier in the year"][/caption]
Also, CSC said LFL net rental income was up 6% to £8m and that short term lets are becoming a “continuing feature of the market given economic conditions”.
The developer has said that it is tweaking management projects so that it may benefit from the lack of shopping centre development occuring in 2012 and 2013.
CSC chief executive David Fischel said: “With 6% growth in like-for-like net rental income and increased footfall at our centres, CSC has delivered a sound operating performance in the first half of 2011."
CSC to focus on consumer demand Monday, 1st August 2011
Capital Shopping Centres could provide new insight into the strength of consumer demand at its interims tomorrow.
According to Estates Gazette CSC the market will be looking for strong occupancy levels at the 14 large shipping malls, healthy footfall and rental growth.