M&S ponders property revolution

Article Abstract:

Retail chain Marks & Spencer is considering a number of options for dealing with its property portfolio, with the review to be completed in Jul 1999. The company has property assets worth more than 3.5 billion pounds sterling, with its freeholds accounting for a significant proportion of its overall portfolio. It may decide to establish a separate company to obtain more value from its operational portfolio, or it could opt for sale and leasebacks on some outlets.

Retail Trade, Marks and Spencer PLC

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Costs will slow Wal-Mart bandwagon, say analysts

Article Abstract:

Strict planning regulations are likely to hamper plans by US hypermarket chain Wal-Mart to establish a strong presence in the UK. Wal-Mart will also be negatively affected by high property costs. The British Retail Consortium has expressed doubts about whether Wal-Mart will be permitted by UK planning authorities to build stores as large as those it operates in the US. Distribution costs are also higher in the UK than in the US.

Hypermarkets, Warehouse Clubs and Superstores, Variety stores, Foreign operations, Wal-Mart Stores Inc., Superstores, WMT, Design and construction, Commercial buildings

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Richardsons to sell York park

Article Abstract:

The sale of Monks Cross Retail Park in York, England, in autumn 1997 will raise 80 million pounds sterling for Richardson Developments if it sells at a yield of 5%. There are 19 units let on the 24,154 sq mt site, which is currently under development. Rents range from 161 pounds sterling to 237 pounds sterling per sq mt. Other recent property deals are also discussed.

New Store Construction, Planning, Real estate industry, York, England, Richardson Developments

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