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Competition between property companies for malls



Recently released figures indicate that shopping center transactions are set to break records during this year.
In the UK, nine shopping centers watched by DTZ have already shown transactions to the value of £717m for the third quarter, with pending offers of £1.17bn. When comparing these figures to the same period last year when it was £833m, this year is set to break records. Based on a sample size of 40 centers, the investment volumes have topped £3.5bn.

Large companies, such as Orion Capital, AXA and Land Securities are all currently involved in large transactions, including centers such as Telford Shopping Center, Hammersmith Broadway, London’s Fulham Broadway and Bristol’s Cabot Circus.

The largest transaction to date has been that of the 30% share in Bluewater from Len Lease to Land Securities. The price of £696m was in excess of £300m more than the transaction in second place. Investor demand was strong for this property and there were 10 interested parties. They high ultimate yield of 4.1% is indicative of the market value of the asset.

Along with the centers which have already been sold or which are under offer, there are 30 more centers which are on the open market, at a value of £887m. Investment levels for shopping centers have reached about £3.5bn this year, which is an increase on 2013. This is a clear picture of the changing demand in this particular property sector.

The Head of Shopping Centre Investment, Barry O’Donnell, stated that the volumes have already overtaken last year’s and a strong close to this year is expected.

Related shopping malls and stores:



More about shopping malls in the United Kingdom



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The flagship store in NYC presents an updated global concept of The North Face retail stores.
Aug 14, 2019, United Kingdom:
Crew Clothing and independent retailer Starlings Toy Outlet are set to open shops in the East Midlands.
Aug 13, 2019, USA:
Nike announced the launch of the sneaker subscription service for children.
Aug 13, 2019, Russia:
The brand has entered Russia for the first time through Ingka Centres’, formerly IKEA Centres, MEGA mall in Moscow.
Aug 12, 2019, Italy:
WRM Group and Conad signed an agreement to acquire Auchan Retail Italia, announced by the financial community.
Aug 9, 2019, Hong Kong:
An American fast-food chain has announced the opening of its flagship restaurant in an updated concept in Hong Kong.
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