In a surprise move, luxury department store Harrods has announced that it will open its first standalone store outside of London next spring with a specialist beauty unit at Intu’s Lakeside shopping centre in Essex.
Shares in struggling British shopping centre operator Intu Properties Plc jumped more than 20% on Monday after a report that private equity firm Orion Capital Managers was considering a buyout of the company.
Just a day after Hammerson and APG said they’re taking full control of Via Outlets, comes news that the UK mall operator may be mulling the sale of its £1.9 billion stake in Value Retail, the Bicester Village owner.
Global shopping malls giant Unibail-Rodamco-Westfield has reported solid results, but its UK operations (the London Westfield malls) suffered from the same problems we heard about at rivals Hammerson and Intu this week.
Europe’s largest property firm Unibail-Rodamco Westfield raised its full-year earnings guidance on Wednesday after reporting strong first-half growth in tenant sales at its flagship European and American retail centres.