Issue 2019 February 5th

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    Entertainment retailer rescued by Canadian but some stores close

    Entertainment retailer HMV has been surprisingly rescued from collapse by a Canadian music entrepreneur, but 27 stores in prime locations have closed, including the site of its first store on London’s Oxford Street. Doug Putman, who runs the Canadian retailer Sunrise Records, has bought the UK music and film retailer after unexpectedly emerging as the lead [...]
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    Furniture and homewares retail embraces sharing economy

    Swedish furniture giant Ikea is to start renting out furniture as part of its key attempts to build a more environmentally friendly business. The world’s largest furniture retailer said that it wanted to test out the idea of leasing office furniture such as desks and chairs to business customers, starting in Switzerland. However, kitchens could [...]
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    Savills steps into designer outlet market with French acquisitions

    Savills Asset Management has acquired two McArthurGlen designer outlet centres in Troyes and Roubaix, France for circa €300m. The assets were purchased from real estate funds managed by Ares Management Corporation and from McArthurGlen via new OPPCI and on behalf of a club of investors. The investors comprise a number of institutions managed by a leading German Multi-Manager [...]
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    Scottish centre on market for one pound sold at auction

    A Scottish shopping centre has been sold for a figure around the price of a typical UK house, having been put up for auction with a minimum price of just £1. The Postings mall in Kirkcaldy, Scotland, in which 14 of the 21 shop units lie empty, was sold for £310,000 to an unnamed bidder [...]
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    Fund acquires retail space in Germany and Hungary

    AEW has acquired the Aisch-Park-Center in Germany, a newly developed retail park, located in Nuremberg, on behalf of a joint venture between two of its funds Actipierre Europe and Pierre Plus. The asset has been acquired from a joint venture between the Zauritz Group and the KLAPPAN Group. The fully let property is located in [...]