Hot links: The week in Europe retail property news
Publish Date: August 07, 2014
Here's a roundup of what regional news organizations in Europe are reporting about the local retail real estate business.
• Spain mall trades for $349M — Property Investor Europe Spain-based REIT Merlin Properties recently acquired Merineda City mall and hotel in the coastal town of A Coruna for 260 million euros [$349 million].
• Irish mall portfolio for sale — The Irish Independent NAMA has put a five-mall portfolio up for sale valued at €100 million [$134.3 million].
• Walgreen spending $5.27B for Alliance Boots — The New York Times U.S.-based drugstore empire Walgreen Co. is spending $5.27 billion in cash as well as stock on the outstanding 55 percent stake in Alliance Boots it did not already own.
• Eurozone, EU retail sales rising — Retail Business Review Retail sales in both the European Union and the eurozone improved in June.
• Firm raises $134M toward Romania mall development — Romania-Insider.com South Africa–based New Europe Property Investment (NEPI) has raised 100 million euros [$134 million] to build malls in Romania.
• Prague Outlet opening next year — Prague Post The 31,000-square-metre Prague Outlet is finally set to start opening next year in phases.
• Adidas tempers Russia store growth — MarketWatch Though Adidas is opening 80 new stores in Russia this year, that's significantly less than the 150 units that were previously planned.
• U.K. Consumers confident but cautious — Marketing Week Consumer confidence is on the rise in the United Kingdom, shooting up by 14 percent over the last year.
• Apple expands in Europe — AppAdvice Computer giant Apple is opening its third Netherlands store, in The Hague's Passage mall, this weekend.
• Consumer confidence boosts intu's malls — Independent Online Improving consumer sentiment is cheering executives at intu Properties, which owns nine of the top 20 shopping centres in the United Kingdom.
• Brick-and-mortar stores beating 'e-tailers' — Reuters High Street retailers throughout Europe are luring consumers away from Internet shopping.
• Metro's same-store sales up — Retail Detail Germany-based international retailer Metro was able to squeeze out a 1.7 percent same-store sales increase year over year during its third quarter.
• Harrods shoe department increases footprint — Retail Detail Luxury London department store Harrods has tripled the size of its shoe department, bringing it to 3,900 square metres.