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John Lewis to shoulder £15m rise in business rates for Oxford Street flagship

John Lewis’ prized Oxford Street flagship will see its business rates tax rise 57 per cent from last year’s £12.68 million to £19.91 million under last year’s controversial revolution. According to real estate advisor Altus Group, the Oxford Street store will pay £41.01 million in business rates over the next 4 years of the business rates cycle, until the next revaluation in 2021. READ MORE: John Lewis rocked by 99% drop in HY profits That means John Lewis will be forced to pay an extra £14.82 million compared with the 2016-2017 tax levels, given the change in rateable value

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Seritage Growth Properties gets $2 billion financing from Berkshire Hathaway

A real estate investment trust that was spun off from Sears Holding Corp. has secured new financing from an early investor






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Forest City to be acquired in mega real estate deal

Forest City, whose retail holdings include retail centers throughout New York City, is being acquired by a Brookfield real estate fund.






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Tallahassee center sells for $15.9 million

A noted full-service real estate services company in Florida has added Killearn Shopping Center in Tallahassee to its expanding portfolio.






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17% rise in London retailers facing “significant financial distress”

New research from Begbies Traynor has found a 17 per cent rise year-on-year in London business reporting serious financial difficulty. The report found London was the country’s worst performing region, although the UK as a whole came up against serious headwinds in a tough economic climate. Begbies Traynor’s report found the number of UK companies facing ‘significant’ financial distress has increased nine per cent compared with last year






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Home goods retailer Overstock.com makes push into real estate

Overstock.com is entering the real estate market — again.






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House of Fraser landlords bring legal challenge against CVA

House of Fraser’s CVA is back under threat as a group of landlords has filed a legal challenge to the controversial insolvency process. A group of landlords have officially filed a petition in the Scottish courts, challenging embattled department store’s CVA, which was approved by creditors a month ago. The petition, understood to be the first posed against a CVA in Scotland, was filed on the grounds of alleged “unfair prejudice against certain creditors, as well as material irregularities in the implementation of the CVA”






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Cirque du Soleil swings into shopping malls

The circus troupe will launch the first in a series of indoor entertainment experiences next year in collaboration with real estate firm Ivanhoé Cambridge.






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No18 to bring new co-working concept to the Shops at Buckhead Atlanta

Retail and shared workspaces are a match poised to thrive — both need real estate and benefit from many of the same amenities.






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Q1 Report: Decline in completions fuels rise in retail rents

Retail real estate completions came in just under 8 million sq.






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