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March 7, 2023

Lender Chasing £61M After Giant Resi Site Collapses

Final Weeks To Submit Your DEI Programme For Recognition In The Rise Initiative
The lender to a huge residential development is looking to recoup £61M from the sale of the site after the companies that owned it went into administration and receivership. A report to creditors of Regeneration (UK) from administrators at RSM said the sale of a 263-acre site in Biggleswade is ongoing, with agents at CSquared and SW appointed to manage the sale. The disposal could be concluded imminently.

Lender Chasing £61M After Giant Resi Site Collapses

Regeneration (UK) is the holding company over companies that owned the site, which has planning permission for 1,500 new homes in the Bedfordshire town of Biggleswade, located 46 miles north of London and almost equidistant between Oxford and Cambridge.One of its subsidiaries, and the name under which the company is better…

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Weekend Interview: Frasers Head of Property James France On Why The Retailer Is Investing Big In Physical Stores

This series gets into the heads of the decision-makers of CRE, the people shaping the industry by setting investment strategy, workplace design, diversity initiatives and more. The retail sector can be a little obsessed with disruption and disrupters, but that usually relates to new players from the online and social media worlds. Yet, arguably, a huge disrupter on the UK — and increasingly Ireland’s — high street over recent times has been Frasers Group, the umbrella company for a host of sports, fashion and luxury brands. It is one of the few retailers looking to expand its physical store footprint, while rivals pull back. That multicategory empire now includes department stores Flannels and Frasers, sports specialists Sports Direct and Evans Cycles, fashion brands 18Montrose, Jack Wills and USC, plus Game and Sofa.com. Originally under the auspices of controversial founder Mike Ashley, whose brusque no-nonsense style tended to polarise opinion, son-in-law Michael Murray is now CEO and he has pressed the green button on a dramatic upgrade of the company’s store estate.

Weekend Interview: Frasers Head of Property James France On Why The Retailer Is Investing Big In Physical Stores

The person charged with that project is Frasers Head of Property James France, with the direction of travel clearly signposted by a series of new city centre flagships under the Frasers and Flannels department store badges and its Sports Direct stores, particularly the jewel in its crown, the multimillion-pound Sports…

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Capital & Regional Back In Black After Strong Performance in 2022

Capital & Regional Back In Black After Strong Performance in 2022

Real estate investment trust Capital & Regional said it had returned to the black after a strong performance in 2022, leaving the company room to cut debt and resume dividend payments.The London-based company, which is focused on community shopping centres, recorded a pre-tax profit of £5M in 2022 compared with a…

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Economic Uncertainty Is Driving A Return To Safe Investment Havens Across The UK

PRESENTED BY:   RSM UK
 
Economic Uncertainty Is Driving A Return To Safe Investment Havens Across The UK   Economic and political instability is causing a renewed flight to safety among investors. Most strikingly, the living sectors are becoming increasingly favourable for investment. These are the headline findings of RSM UK’s annual Real Estate 360 survey, which questions property experts across the UK. “The most significant aspect of…

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$315M Blackstone Portfolio Loan Goes Into Default

$315M Blackstone Portfolio Loan Goes Into Default   A €297M ($315M, £267M) loan secured against a portfolio of secondary European properties owned by Blackstone has gone into default after it was not repaid when it matured. A notice to bondholders earlier this week said that the loan had gone into default on 1 March after Blackstone and the servicer could not agree on proposals to extend the maturity of the loan, which expired last month.  Bondholders rejected an extension and workout proposal put forward by Blackstone…

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