Shopping Centre news and archive

Unibail-Rodamco-Westfield sells partial stake in shopping centre Forum des Halles

CDC Investissement Immobilier, a subsidiary of the French public sector financial institution Caisse des Dépôts (CDC), has acquired a 15 percent stake in Forum des Hall. The agreement signed with Unibail-Rodamco-Westfield (URW), the current owner of the iconic Parisian shopping centre, reflects a net sale amount of 235 million euros. The...

RetailMember

Landsec secures 92 percent stake in Liverpool One

Real estate firm Landsec has announced the acquisition of a 92 percent stake in UK shopping centre Liverpool One, for an overall consideration of 490 million pounds. The stake was snapped up from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), which previously held a 69 percent stake, and property group Grosvenor, which...

BusinessMember

Frasers Group snaps up Lancaster’s St Nicholas Arcade

British fashion giant Frasers Group is continuing to expand its portfolio of retail setups with the acquisition of Lancaster-based shopping centre, St Nicholas Arcade. The deal involves the entire 160,000 square foot retail park, where annual footfall reportedly amounts to four million visitors. Frasers said that the acquisition reinforced its...

RetailFeatured

The Liberty Romford unveils new brand identity

Shopping centre, The Liberty Romford, owned and operated by Redical, has announced it is undergoing a transformation to “elevate and evolve the destination”. The transformation is part of Redical’s multi-year centre improvement budget of 7 million pounds, to revitalise The Liberty, and includes a new brand identity aimed at continuing its market...

Retail

Norwegian sovereign wealth fund to buy Sheffield shopping centre Meadowhall

Meadowhall, an indoor shopping centre located in Sheffield, South Yorkshire, and one of the top five shopping destinations in the UK, is to be fully operated by Norway’s sovereign wealth fund. According to The Times, Norges, Norway’s 1.3 trillion pounds sovereign wealth fund, is in advanced talks to acquire British Land’s 50 per cent share of...

BusinessMember

Newcastle’s Eldon Square unveils major 65 million pound revamp

Newcastle’s primary shopping centre Eldon Square is set to undergo a major overhaul in the coming year, banking on leisure, entertainment and dining as a means to bolster footfall. The reported 65 million pound redevelopment will see the introduction of new cultural, food and drink, sport, leisure and entertainment venues at the location, much...

Retail

URW reveals development plans for Westfield Old Orchard in Illinois

Unibail-Rodamco-Westfield (URW) has unveiled an array of development plans for its Westfield Old Orchard site in Skokie, Illinois. The company said the North Shore destination will be “unlike anything else in Chicagoland”, with a park, event space and various amenities to be added to the modernised retail centre. The multi-phase plan already...

Retail

URW set to open three new Westfield flagships throughout Europe

Unibail-Rodamco-Westfield (URW) has announced it will be furthering the roll out of its Westfield brand into Spain, Sweden and Poland. In autumn, the retail group will be rebranding three of its centres into Westfield flagship stores, including Parquesur in Madrid, Taby Centrum in Stockholm and Galeria Mokotow in Warsaw. It comes as part of URW’...

News

Westfield London’s Future Fashion winners reveal commissioned work in exhibit

London-based retail park Westfield has announced the six winners of its Future Fashion competition through a commissioned showcase at the shopping centre. In collaboration with the Royal College of Art, selected finalists were commissioned 2,000 pounds to complete their work and exhibit it through one of the eight windows along the Silver Walk....