Nicol Dynes, Dan Innes, Paul Strohm and Richard Betts
In the spotlight this week: More pandemic reactions, including UK shopping centre owner Capital & Regional establishing a new post-Covid staff training and accreditation system to instil confidence; Shaftesbury, owner of much of London’s Chinatown, announces it is to raise £300 million to help it through the crisis.
Meanwhile, fashion retailer Gap is considering closing stores, 129 in Europe, moving to a franchise store only model, and UK REIT Land Securities is planning to sell a third of its portfolio refocusing on residential, offices and mixed use. Meanwhile, OMERS, Ontario’s municipal workers pension fund says Covid and Brexit are but a blip for the UK and it will invest more in London.
Elsewhere, partnerships have been formed to take investors in new directions with local or sector specialists: Korea’s NPS with Dutch APG; Kuwait’s sovereign wealth fund and Hines, among others; Moorfield Group and Stor-Age. ECE has teamed up with Google to help take retail tenants online.
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