At the beginning of the month, the bidding war for Morrison’s finally came to an end after Clayton, Dubilier & Rice (CD&R) outbid rival private equity giant Fortress with an offer of 285p per share. Britain’s fourth-largest supermarket chain, with nearly 500 stores had long been the subject of an extended £7 billion bidding...
This week the Innesco team has been in Saudi Arabia visiting our client Diriyah Gate Development Authority (DGDA), to strategize how to develop the historic Diriyah site into one of the world’s greatest retail destinations – Diriyah Square. Five years ago, the Saudi Government formed Saudi Vision 2030 – a strategic framework to reduce Saudi Arabia's...
This week the Innesco team attended Built Environment Network’s Garden Villages and New Towns Development Conference in London. We heard from a mixture of project directors and local government leaders debating ‘The Green Agenda’ in Real Estate – with COP26 just round the corner, it’s safe to say sustainability is the buzz word on...
On Tuesday, the Innesco team embraced the return of in-person events at Completely Retail Marketplace London, alongside a diverse array of property agents, landlords, and retail and leisure brands to discuss the market and showcase the many opportunities for new space. This year’s event, organised in collaboration with Revo, was the largest since Completely Retail...
Last week Michael Gove was appointed UK Housing Secretary, moving from his roles as Chancellor of the Duchy of Lancaster and Minister for the Cabinet Office in the latest cabinet reshuffle. Upon his appointment Gove renamed The Ministry of Housing, Communities and Local Government (MHCLG) to The Department for Levelling Up, Housing and Communities...
How much of our lockdown behaviour is now baked in to our retail property world? The country may seem like it’s in something of a state of retail shock. The buzz on the high street is more of a whimper, but the rates of decline are slowing – as shown in the LDC reports. But,...
With the real estate sector accelerating along its path to a more sustainable future, as a development lender, we remain pragmatic, recognising that it simply will not be possible for every new building to meet the high standards demanded from a carbon standpoint. There will be a natural tension between the necessity of delivering...
As we start to see a level of normality slowly returning to the retail and leisure market, we can begin to understand the true impact of the COVID-19 pandemic. Across 2020, the Local Data Company (LDC) tracked a record number of stores closing down. We recorded a net loss of 11,319 stores, mainly driven...
Off-site food-prep sites – commonly known as Dark Kitchens - are booming in the UK in line with a surging £4.9bn food delivery market, which now makes up 8% of the overall UK food service sector. Just Eat’s announcement this week that the company will hire 1500 new employees over the coming year is...
Over the past week the Innesco team has been discussing our commutes into the office, specifically the gradual increase in commuters occupying various modes of public transport across London. This, combined with the distinct shortage of bicycle racks and ever-growing queues for the office coffee machines, has led us to the same conclusion –...
