Shopping Centre news and archive

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...

Business

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...

Business

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’...