Here's what local news sources are reporting about retail property in Europe:
• Eurozone sales grow slightly — Trading Economics Eurozone retail sales grew by 2.5 per cent in October of 2015 compared to the same month in 2014, according to Eurostat. That was lower than the 2.7 per cent growth analysts had expected.
• European retail property sales surge — Wall Street Journal In the past 12 months, about €64 billion worth of European retail properties has changed hands, according to Real Capital Analytics. That's the highest annual figure in the firm's eight years of monitoring the sector. Low interest rates are motivating Investors to seek properties with good cash flow.
• Portfolio of UK high street stores trades for €84 million — Shopping Centre Addington Capital and Och-Ziff Real Estate will buy the Retail Plus Property Trust portfolio of high street stores in 12 UK cities, for £60 million (€84 million). “While the UK high street sector has been under meaningful pressure during the downturn, we believe there are selective opportunities within the sector that are attractive given the underlying UK recovery," said Och-Ziff Real Estate president Steven Orbuch.
• Canada's Alimentation Couche-Tard buys Ireland's Topaz — Convenience Store News Canadian retail conglomerate Alimentation Couche-Tard will buy Irish convenience store chain Topaz to strengthen its position in Western Europe. Topaz is Ireland's biggest convenience store chain, with 464 stores. In Europe, Couche-Tard operates 2,217 stores.
• New centre planned for Oradea, Romania — Business Review The Mudura family will invest €60 million in a 147,000-square-metre mixed-use centre in Oradea, Romania. The 25,000-square-metre retail portion will open in 2017. The family developed and controls the 40,000-square-metre Lotus Center Oradea nearby.
• Holiday traffic surges at Intu properties, Web site — Shopping Centre UK landlord Intu saw a strong start to the holiday shopping season, with over one million customers visiting its shopping centres on Black Friday and the following Saturday. Intu also posted a record number of users on its e-commerce site on Cyber Monday. “Cyber Monday lived up to the hype this year, with a record number of visits and purchases compared to last year," said Trevor Pereira, Intu's commercial and digital director. "Customers really made the most of the multiple channels to secure products, using both our shopping centres and online website from Friday through to Monday to tick off items on their shopping list."
• Luxembourg retail centre planned — Yes I Cannes Developers Immochan and Promobe/LC1's 75,000-square-metre La Cloche d'Or shopping centre is set to open in Luxembourg in 2018. The centre, which will inlcude a 3,000-square-metre food hall, will be part of a larger mixed-use district that will include a school, offices and residences.
• Cushman: €65 million in Polish retail property deals so far in 2015 — Property Investor Europe About €650 million worth of Polish retail properties changed hands during the first three quarters of 2015, according to Cushman & Wakefield. The firm expects a high volume of deals in the fourth quarter as well. Global investors are keen to acquire properties in the country due to the growing affluence of its population.
• Retailers want 'global' brokers, says Savills exec — Irish Independent The world's biggest retail brands want to deal with property agents who can help them set up shop anywhere on earth, says Larry Brennan, chairman of the continental European retail group at Savills. Brands from Australia, South Africa and Turkey are starting to think about global expansion, he added.
• Fortnum and Mason expects a jolly Christmas — International Supermarket News Upmarket UK fine foods retailer Fortnum and Mason expects to see record sales this Christmas shopping season, after posting a 19 per cent increase in sales for the year to the end of July. The retailer operates four stores: London units on Picadilly, at Heathrow airport's T5 terminal and at St Pancras Station, and a unit in downtown Dubai.
• Kent centre selling for €61.85 million — Shopping Centre Rockspring Property Investment Managers will acquire the 205,000-square-foot Walnuts shopping centre, in Orpington, Kent, from Miller Developments on behalf of its UK Value 2 LP fund, for £43.9 million (€61.85 million). Peacocks, New Look, Argos, The Works and The Entertainer are tenants. A 61,450-square-foot leisire complex opens in February.
