Here's what local news sources are reporting about retail property in Europe:
• Austins, Europe's oldest department store, has closed its doors for the last time after 186 years of operation in Londonderry, Northern Ireland. Belfast Telegraph
• UK retailers are endeavouring to increase productivity by repurposing excess space, taking a leaf out of the mall rulebook. Some are adding in-store entertainment, while others are even allowing competitor brands to use their space. Tesco has added boutiques for Dorothy Perkins, Burton and Evans in one London store. Sainsbury's, too, says about 6 per cent of its space is underutilized and it plans to add concessions from such brands as Argos, photography studio Jessops and shoe repair firm Timpsons. Wal-Mart’s Asda is also letting sporting goods chain Decathlon set up shops inside some of its stores. Reuters via Channel News Asia
• High street fashion chain Jigsaw, which operates 100 stores in the UK, is considering a sale of all or part of its business. Meanwhile the 49-store UK high street brand Whistles is up for sale and being considered by South African conglomerate Foschini. The Industry
• Euro zone retail trade increased by 0.4 per cent in January, according to the statistical office of the European Union. In December retail trade grew by 0.6 per cent. Portugal led the pack with a 5.9 per cent increase, while the largest decrease was posted by Luxembourg, where trade fell by 1.1 per cent compared to January 2015. The Financial
• Investment in Central and Eastern European commercial property (excluding Russia) grew by 25 percent year-on-year in 2015, to €9.9 billion. US investors were the biggest foreign players in the region, accounting for 30 per cent of overall foreign investment. The Czech Republic posted the biggest year-on-year gain, with €2.8 billion in overall investment, a 40 per cent increase. Prague Post
• Portuguese retail conglomerate Jerónimo Martins will invest between €550 million and €600 million on new and existing stores this year. About 45 per cent of that total will fund the company's Polish supermarket chain Biedronka. About €100 million will go towards opening stores for the company's Portugal-based Pingo Doce chain. European Supermarket Magazine
• South African developer Hyprop wants to increase its retail property holdings in Central and Eastern Europe within the next five years. Last month the firm bought a 60 percent–stake in a mall in Serbia and a mall in Montenegro. Independent Online
• Rockspring Property Investment Managers bought the 140,193-square-foot Clayton Square shopping centre, in Liverpool, from Infrared Capital Partners. The price was £38.4 million (€49.6 million). IPE Real Estate
• New Europe Property Investments is modernizing its Btaila Mall, in Bucharest, and expanding the property's food court. The centre is anchored by Carrefour, H&M and C&A and features a Cinema City multiplex and ice skating rink. The project will be completed by month's end. The Diplomat
• CBRE Global Investment partners closed its European value-add fund with €209 million from six investors. The fund's purchases including two prime high street retail assets in central Madrid. Property Magazine International
• A self-service convenience store in Viken, Sweden, allows shoppers to use a smartphone app to make purchases. The staff-free, 24-hour store was the brainchild of local resident Robert Ilijason, who wants to expand the concept throughout Europe. The store stocks milk, bread, toilet paper and other essentials, but not commonly stolen items such as tobacco or pharmaceuticals. Inquisitr
