Issue 2018 January 9th

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    Moribund UK shopping centres transaction market to pick up in 2018

    Advisor JLL is anticipating a £3bn market turnover in the UK shopping centre market in 2018, following suppressed turnover and muted investor sentiment last year with just 29 transactions (£1.988bn) taking place. According to JLL, the likely downward pressure on valuations, recent capital gains tax changes, together with the increased restrictions on refinancing will all [...]
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    Asian developer to sell 20 malls as it focuses on clusters in China

    Following record mall openings last year, CapitaLand, through its wholly-owned shopping mall business CapitaLand Mall Asia, CapitaLand, has entered into agreements with unrelated parties to divest its share of interest in a group of companies that hold 20 retail assets with an agreed value of S$1,705.9 million. Targeted for completion in Q2 this year, this [...]
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    Italian acquisition as AXA snaps up Zara flagship store

    AXA Investment Managers – Real Assets has completed the acquisition, on behalf of a client, of a prime retail asset in the centre of Venice, Italy from a private investor for €45.75 million. Serving as Zara’s flagship outlet in Venice, the high street property totals 2,660 sq m arranged over five floors, making it one [...]
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    Designer outlet expansion on track as McArthurGlen gears for growth

    McArthurGlen has confirmed that McLaren Construction has been appointed on the €101.1m Phase II extension of Ashford Designer Outlet ahead of building works commencing later this month. The expansion forms part of the Group’s 1.6 million sq ft active development pipeline coming through over the next three years across Europe and Canada. McArthurGlen first announced plans to expand [...]
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    Fund manager acquires Midlands retail park in early year UK deal

    LGIM Real Assets, on behalf of its second UK Property Income Fund (UK PIF II), that it has exchanged contracts to acquire Riverside Retail Park in Stafford from LBX Retail Properties for a total consideration of £36.8m, reflecting a net initial yield of 6.8%. This acquisition marks the final acquisition for UK PIF II. As [...]